Thyssenkrupp Ag · XETR:TKA
Thyssenkrupp — Investor Presentation (January 2014)
66 slides from Thyssenkrupp's investor presentation, January 2014
Slide 1: Presentation Facts & Figures January 2014
Presentation Facts & Figures January 2014 Developing the future.
Slide 2: Agenda
Agenda Presentation slides 2-17 • Key Figures, Strategic Way Forward and Group Outlook • Group Performance, Financials and Conclusion Facts & Figures slides 20-64 Presentation ThyssenKrupp January 2014 1 Developing the future.
Slide 3: ThyssenKrupp – Strategic Way Forward
ThyssenKrupp – Strategic Way Forward Company Portfolio Change Performance Financial Strategic Push Positioning Optimization Management Orientation Stability Diversified Industrial Closed Brazil Auto Systems Mission Statement (“Leitbild”) Continuous benchmarking Significant cash flow Inor
Slide 4: Strategic Way Forward (SWF) – Highlights FY 2012/13
Strategic Way Forward (SWF) – Highlights FY 2012/13 SWF Group transformation by SWF gaining traction – 1st +ve FCF in 6 yrs Performance upside in FY 2013/14 from SWF continuation and execution Portfolio steps in Group de-risking • Sale of TK Steel USA for $1.55 bn to ArcelorMittal (MT)/Nippon Steel
Slide 5: SWF: Progress in Group De-Risking
Avoid participation OTK c/i SWF: Progress in Group De-Risking Cease €250 m credit line Eliminate –ve equity pick-up Managing value of assets Steel Americas Stainless Steel under own control with direct access to AST & VDM Exit TK Steel USA Partial decoupling TK CSA 2012: Sale of Inoxum Sale
Slide 6: SWF: Progress in Portfolio, Change and Performance
SWF: Progress in Portfolio, Change and Performance Company Positioning Portfolio Optimization + Management Change + Performance Orientation Financial Stability + Strategic Push Divestments* New Supervisory Board Chairman: Restructuring ~€0.4 bn since May 2011 compliance & corporate governance as
Slide 7: SWF Gaining Traction with Performance Upside in FY 2013/14
SWF Gaining Traction with Performance Upside in FY 2013/14 Group (incl. Steel Americas, excl. AST & VDM) CT ET IS MX SE AM incl. Steel USA as disposal group AST & VDM EBIT adjusted FCF before divest. NFD (Group) ∑>€1.4 bn ~€1 bn* breakeven* deleverage + ~€850 m €599 m €(0.3) bn €(5.0) bn €399 m ~€60
Slide 8: Order Intake Impacted by Portfolio Effects and Softer Materials Markets
Order Intake Impacted by Portfolio Effects and Softer Materials Markets Order intake (million €) Order backlog (million €) Group incl. Steel Americas Group incl. Steel Americas -12% -3% yoy yoy -8%* 43,842 38,636 23,628 22,935 2,081 Steel Rest of Americas 2,056 Group 4.406 4.708 10,455 Steel Industr
Slide 9: Positive EBIT Adj. from All BAs Except Steel Americas in Difficult Markets
Positive EBIT Adj. from All BAs Except Steel Americas in Difficult Markets Sales (million €) EBIT adj. (million €) Group incl. Steel Americas Group incl. Steel Americas -7% +50% yoy yoy -3%* 41,536 38,559 399 599 2,014 Steel Americas 1,867 10,992 Steel Industrial Solutions 689 Industrial Europe 9,62
Slide 10: Net Loss in FY Mainly Impacted by Legacy Special Items
towards Net loss Net Loss in FY Mainly Impacted by Legacy Special Items breakeven €(1.5) bn Net loss reconciliation (million €) €(5.0) bn thereof: 2011/12 2012/13 2013/14E ThyssenKrupp AG’s stockholders: €(1,450) m 599 (1,194) thereof: EPS* ThyssenKrupp AG’s stockholders: €(1,396) m (2.82) €/sh (595
Slide 11: FY 2013/14: Efficiency Gains as Most Important Performance Lever
FY 2013/14: Efficiency Gains as Most Important Performance Lever Group FCF before divest & incl. Steel Americas, DB settlement paym. ~breakeven Capex max €1.3 bn excl. AST and VDM EBIT reconciliation Growth / by driver Market development ~€1 bn €599 m €399 m FY 2011/12 FY 2012/13 FY 2013/14E incl. €
Slide 12: Agenda
Agenda Presentation slides 2-17 • Key Figures, Strategic Way Forward and Group Outlook • Group Performance, Financials and Conclusion Facts & Figures slides 20-64 Presentation ThyssenKrupp January 2014 11 Developing the future.
Slide 13: Positive EBIT Adj. from All BAs Except Steel Americas
Positive EBIT Adj. from All BAs Except Steel Americas in Difficult Markets EBIT adjusted (million €); EBIT adjusted margin (%) 5.8 2.7 2.6 Comp. 4.6 5.3 3.9 2.0 2.0 Materials 3.1 1.4 Techn. 89 76 Services 88 63 81 58 58 62 42 40 11.0 11.0 11.2 Elevator 10.3 10.5 2.4 2.4 1.3 1.8 Steel Techn. 188 166
Slide 14: Decreasing NFD & Significant Improvement of Gearing Foreseeable
Decreasing NFD & Significant Improvement of Gearing Foreseeable Equity and Net Financial Debt Development (million €) Equity % 11.8% 7.1% 9.4% Gearing 128.1% 200.6% 122.5% Deleveraging • operational performance Capital • M&A, e.g. cash-in Gearing raise Steel USA < 100% Equity 5,800 5,038 NFD 4,526 4
Slide 15: Stringent NWC and Capex Mgmt and Divestments Driving FCF Improvem't
Stringent NWC and Capex Mgmt and Divestments Driving FCF Improvem’t Free cash flow reconciliation Cont. Ops. incl. Steel Americas (million €) 1,678 • inventory: €434 m • CT: €78 m • receivables: €146 m • ET: €652 m FY 2012/13 571 (1,313) • payables: €(9) m • IS: €524 m 1,163 • MX: €190 m • SE: €280
Slide 16: Solid Financial Situation
Solid Financial Situation Liquidity analysis and maturity profile of gross financial debt as of September 30, 2013 (million €) 7,277 Incl. syndicated loan facility of €2.5 bn for which a waiver of gearing covenant was granted (gearing ratio < 150% at FY end); facility due July 1, 2014 Available comm
Slide 17: Outlook Q1 2013/14
Outlook Q1 2013/14 Group EBIT adj.: broadly doubling prior year Q1 incl. Steel Americas, (Q1 2012/13: €107 m; Q4: €156 m) excl. AST and VDM FCF before divest & yoy stable to more negative DB settlement payment: (Q1 2012/13: €(352) m) SPA for OTK stake signed: €270 m impairment largely cushione
Slide 18: SWF: Value Upside and Increased Strategic Flexibility
SWF: Value Upside and Increased Strategic Flexibility CT return to previous margin levels • performance measures • ramping new plants in BIC ET closing margin gap to peers Value Upside • while leveraging growth Cultural change and leadership opportunities Performance and benchmarking ambitio
Slide 19: Financial Calendar – FY 2013/14
Financial Calendar – FY 2013/14 February Conference Call Q1 2013/14 (14th) May Conference Call Q2 2013/14 (13th) August Conference Call Q3 2013/14 (14th) November Conference Call FY 2013/14 (20th) Presentation ThyssenKrupp January 2014 18 Developing the future.
Slide 20: Contact Details ThyssenKrupp Investor Relations
Contact Details ThyssenKrupp Investor Relations Phone numbers +49 201-844- Dr. Claus Ehrenbeck -536464 Head of Investor Relations Christian Schulte -536966 To be added to the IR Manager (Deputy Head) IR mailing list, send us a brief e-mail Rainer Hecker -538830 with your details! IR Manager E-mail:
Slide 21: Agenda Appendix
Agenda Appendix Presentation ThyssenKrupp January 2014 20 Developing the future.
Slide 22: ThyssenKrupp Group – Continued Operations
ThyssenKrupp Group – Continued Operations (incl. Steel Americas, excl. AST and VDM) ThyssenKrupp FY 2012/13: Sales €38.6 bn • EBIT adj. €599 m • Employees 156,856 Components Sales: €5.7 bn Elevator €6.2 bn Industrial €5.6 bn Technology EBIT adj.: €244 m Technology €675 m Solutions €640 m Component
Slide 23: Elimination OTK Exposure: Reduce Risks and Secure Value & Cash
Elimination OTK Exposure: Reduce Risks and Secure Value & Cash Fulfillment of remedy requirements of EU Commission extremely challenging for OTK OTK stake Loan Note Investors of 29.9% TK OTK AST, VDM In the course of OTK’s refinancing concept, swap financial receivable vs. tangible assets (AST, VDM)
Slide 24: 5 Year Performance Track Record
5 Year Performance Track Record EBIT adjusted, EBIT adjusted margin (million €, %) 3.0 3.6 2.4 2.0 Materials 7.3 6.5 (1.1) 382 533 311 Services 236 Comp. 5.3 4.3 (139) Techn. (1.9) 301 503 453 244 8.8 (86) 6.8 0.9 1.133 2.2 1.5 Steel 731 247 Europe 84 143 12.5 12.2 11.0 Elevator 11.3 10.3 Techn. 598
Slide 25: ThyssenKrupp – Diversified Industrial Group
ThyssenKrupp – Diversified Industrial Group Leading market One integrated Active portfolio positions company management Diversified Industrial Company Benchmark Profitable Capital performance growth efficiency Leading Engineering Competence Presentation ThyssenKrupp January 2014 24 Developing the fu
Slide 26: Leading Engineering Competence Supports Better for More
ThyssenKrupp’s Leading Engineering Competence Supports Better for More Demand Demand Drivers Business opportunities Constraints (“more”) (“better”) Demography Climate change Reduced CO2 More consumer emissions, and capital Leading renewable goods engineering energies expertise Urbanization Finite Mo
Slide 27: Systematic Benchmarking Aiming at Best-in-Class Operations
Systematic Benchmarking Aiming at Best-in-Class Operations Selected Peers / Relevant Peer Segments Components • Powertrain & Chassis: Materials Technology Continental; NSK (JPN); TRW (USA) Services • ArcelorMittal / Distribution Solutions • Industry: • Klöckner SKF (Industrial); • Reliance Titan Int
Slide 28: Structure and Elements of ThyssenKrupp Compliance Program
Structure and Elements of ThyssenKrupp Compliance Program Compliance Culture Tone from the Top Compliance Commitment Compliance Responsibility Integrate Compliance in business processes Inform & Advise Identify Report & Act Group Policy Statements/ Risk analysis Corrective actions Guidance Notes Com
Slide 29: Group Overview (I)
Group Overview (I) Group Continuing Ops. OLD Continuing Ops. NEW incl. Steel Americas & excl. Steel Americas, incl. Steel Americas Inoxum excl. Inoxum (Steel USA as disp. group), excl. Inoxum 2011/12 2012/13 2011/12 2012/13 2011/12 2012/13 FY FY FY FY FY FY Order intake €m 48,742 39,774 42,326 36,86
Slide 30: Group Overview (II)
Group Overview (II) Group Continuing Ops. OLD Continuing Ops. NEW incl. Steel Americas & excl. Steel Americas, incl. Steel Americas Inoxum excl. Inoxum (Steel USA as disp. group), excl. Inoxum 2011/12 2012/13 2011/12 2012/13 2011/12 2012/13 FY FY FY FY FY FY Capital expenditures* €m 2,204 1,411 1,28
Slide 31: Group Overview (I)
Continuing Ops. NEW Group Overview (I) incl. Steel Americas (Steel USA as disp. group), excl. Inoxum 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 10,078 11,596 10,231 11,937 43,842 10,063 10,113 9,401 9,059 38,636 Sales €m 9,896 10,613 10,710 10,317 41,536 9,189 9,540 9,920 9,910 38
Slide 32: Group Overview (II)
Continuing Ops. NEW Group Overview (II) incl. Steel Americas (Steel USA as disp. group), excl. Inoxum 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY TK Value Added** €m (6,197) (1,852) Ø Capital Employed** €m 24,536 23,329 22,701 21,488 21,488 17,102 16,137 15,253 14,594 14,594 Goodwill €m 3,550 3,49
Slide 33: Special Items
Special Items Business Area 2011/12 2012/13 (million €) Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Disposal Auto Systems (Brazil) & Healthcare savings Waupaca 66 66 Impairment (13) (137) (150) (37) (7) (44) CT Disposal effect 338 338 3 1 4 Restructuring (25) (25) 1 (1) (2) (30) (32) Others (1) (1) Impairment (86
Slide 34: Sustainable Efficiency Gains to Support EBIT Target FY 2013/14
Sustainable Efficiency Gains to Support EBIT Target FY 2013/14 and Mid-Term Upside Ramp-up Efficiency Gains 2015 Efficiency Gains 2015 by Business Area million € 850 Corporate 2,300 150 Industrial Solutions ~6% ~15% Steel Europe ~27% 700 Components Technology ~14% ~13% 850 ~14% Steel Americas Elevat
Slide 35: Improving Capex Allocation Geared to CapGoods Businesses
Improving Capex Allocation Geared to CapGoods Businesses Cash flows from investing activities incl. Steel Americas (billion €) CapGoods thereof: CT Growth SE: ~10% Materials ET IS: ~15% Maint. CT: ~60% IS ~10 MX SE ~34 ~38 3.7 AM in % in % ~33 ~62 ~9 thereof: ~7 ~8 SE: ~45% 3.2 CT: ~15% ET: ~10% 2.5
Slide 36: Change in Innovation Ambition
Change in Innovation Ambition R&D expenses TK Group The InCar®plus Project 2013/2014 Further increase by all Business Areas planned Highlights: • 30 projects with more than 40 individual solutions • Green, cost-competitive, lightweight, 644 647 high-performing Order related R&D cost 331 343 • Body
Slide 37: Accrued Pension and Similar Obligations
Accrued Pension and Similar Obligations Accrued pension and similar obligations (in €m) Accrued pension & similar obligations expected to decrease over time (in €m) Other accrued pension- Assumption: unchanged discount rate 7,708 related obligation 7,356 314 7,356 263 Accrued postretirement 850 obli
Slide 38: Majority of Pension Plans in Germany
Majority of Pension Plans in Germany Funded status of defined benefit obligation Development of accrued pension liabilities (FY 2012/13, in €m) (FY 2012/13, in €m) Germany Outside Germany 2,054 (199) exp. return 6.00 exp. return 5.76 DBO 6,238 6,039 5,773 6,424 2,183 (1,855) 57 385 594 Defined Plan
Slide 39: Mature Pension Schemes: Benefit Payments Higher Than Costs
Mature Pension Schemes: Benefit Payments Higher Than Costs Elements of Change in Accrued Pensions and Similar Obligations (in €m) / Position in Key Financial Statements (12) 29 (1) (1) (115) 151 7,708 297 (566) Net periodic Net periodic pension cost postretirement cost (34) €321 m €27 m (100) 7,356
Slide 40: Components Technology – Q4 2012/13 Highlights
Components Technology – Q4 2012/13 Highlights Order intake in €m Quarterly order intake auto components EBIT in €m; EBIT adj. margin in % Q4 2012/13: slightly lower orders due to EBIT EBIT adjusted seasonality with continuing high demand from China and the US 88 81 63 58 5.8 42 1,539 4.6 5.3 1,469 1
Slide 41: Components Technology
Components Technology Key figures 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 1,778 1,858 1,828 1,469 6,933 1,324 1,360 1,539 1,492 5,715 Sales €m 1,753 1,880 1,852 1,526 7,011 1,345 1,360 1,517 1,490 5,712 EBITDA €m 243 203 548 135 1,129 108 130 145 95 478 EBITDA adjusted €m 178 2
Slide 42: Components Technology: New Registrations of Light Vehicles
Components Technology: New Registrations of Light Vehicles (in million) Passenger Cars and Light Commercial Vehicles World Germany USA Actual Forecast Actual Forecast Actual Forecast +4%* 95.3 +8%* 91.0 16.2 16.3 86.2 15.5 16.0 78.9 82.4 73.4 -5%* 14.3 70.8 12.6 3.4 3.5 3.6 11.5 3.1 3.3 3.1 3.3 2010
Slide 43: Elevator Technology – Q4 2012/13 Highlights
Elevator Technology – Q4 2012/13 Highlights Order intake in €m Units under Maintenance EBIT in €m; EBIT adj. margin in % FY: 6,520 EBIT EBIT adjusted FY: 6,149 CAGR >1.1 m 1,567 1,616 1,633 1,696 1,575 +4.8% 172 188 169 ~0.8 m 166 146 11.2 11.0 10.5 11.0 10.3 Record 171 154 153 133 22 Q4 Q3 Q4 2004/
Slide 44: Elevator Technology
Elevator Technology Key figures 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 1,466 1,541 1,575 1,567 6,149 1,616 1,633 1,696 1,575 6,520 Sales €m 1,348 1,321 1,429 1,607 5,705 1,532 1,388 1,562 1,673 6,155 EBITDA €m 132 139 156 118 545 190 159 179 176 703 EBITDA adjusted €m 161 149
Slide 45: Elevator Technology: Five Initiatives to Reach the Performance Target
Elevator Technology: Five Initiatives to Reach the Performance Target Manufacturing I New Installation 1 Lean plants, optimize installation time Service I Modernization: 2 Each Service Excellence, modernization kits initiative with Portfolio I Restructuring defined 3 Standard Elevator / turnaround /
Slide 46: Industrial Solutions – Q4 2012/13 Highlights
Industrial Solutions – Q4 2012/13 Highlights Order intake in €m Order backlog in €bn EBIT* in €m; EBIT* adj. margin in % Q4 11/12 included ~€2 bn MS order, Q1 12/13 ~€1 bn EBIT* 16.4 EBIT* adjusted fertilizer plants, Q2 12/13 2 cement plants with ~€350 m 16.3 15.6 15.8 FY: 7,631 14.6 180 3,585 169 1
Slide 47: Industrial Solutions
Industrial Solutions Key figures 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 1,093 1,665 1,288 3,585 7,631 2,002 1,595 779 906 5,283 Sales €m 1,309 1,202 1,322 1,424 5,257 1,306 1,428 1,306 1,602 5,641 EBITDA €m 180 190 177 183 730 155 210 174 179 718 EBITDA adjusted €m 179 193 177
Slide 48: Industrial Solutions: Selected Orders FY 2012/13
Industrial Solutions: Selected Orders FY 2012/13 Chemicals Mining & Cement Q1: Fertilizer complexes for CF Industries Holding, USA Q2: Cement complex for Holcim, Indonesia Largest order within the last years Indonesian cement market expected to grow at a double-digit rate in 2013 Iowa: ammonia
Slide 49: Materials Services – Q4 2012/13 Highlights
Materials Services – Q4 2012/13 Highlights Order intake* in €m Materials warehousing shipments in 1,000 t EBIT in €m; EBIT adj. margin in % *thereof materials warehousing business ~ 60% EBIT EBIT adjusted 89 76 58 62 2.7 40 2.0 2.0 2.6 1.4 55 51 64 36 3,137 1,445 2,988 3,047 1,380 1,363 1,427 2,864
Slide 50: Materials Services
Materials Services Key figures 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 3,201 3,573 3,235 3,137 13,146 2,765 2,988 3,047 2,864 11,663 Sales €m 3,145 3,408 3,369 3,243 13,165 2,815 2,923 3,056 2,906 11,700 EBITDA €m 65 98 (20) 96 240 59 (134) 87 85 96 EBITDA adjusted €m 65 98 130
Slide 51: Materials Services' Business Model Developing Towards Long-term Contracting
Materials Services’ Business Model Developing Towards Long-term Contracting Long-term EBIT service contracts margin e.g. Aerospace Industry Material plus processing Material Customers from very supply diverse industry spectrum Value added for customers Presentation ThyssenKrupp January 2014 50 Devel
Slide 52: Steel Europe – Q4 2012/13 Highlights
Steel Europe – Q4 2012/13 Highlights Order intake in €m Shipments in 1,000 t EBIT in €m; EBIT adj. margin in % Ø rev/t indexed (Q1 2004/05=100) EBIT EBIT adjusted 136 135 126 127 123 63 62 42 30 2,620 2.4 2.4 29 28 2,403 2,315 2,177 2,249 2,944 3,058 3,093 2,839 1.8 2,529 18 9 1.3 0.4 14 (10) Q4 Q3
Slide 53: Steel Europe
Steel Europe Key figures 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 2,705 2,990 2,511 2,249 10,455 2,403 2,620 2,315 2,177 9,515 Sales €m 2,530 2,886 2,900 2,676 10,992 2,253 2,512 2,562 2,293 9,620 EBITDA €m 225 142 163 129 659 142 98 119 154 512 EBITDA adjusted €m 225 150 168 17
Slide 54: Steel Europe: Output, Shipments and Revenues per Metric Ton
Steel Europe: Output, Shipments and Revenues per Metric Ton Crude steel output (incl. share in HKM) 1,000 t/quarter Shipments*: Hot-rolled and cold-rolled products 1,000 t/quarter Cold-rolled HKM share Hot-rolled; incl. slabs 3,324 3,312 3,256 3,289 3,196 3,071 2,928 2,986 3,097 2,941 3,058 3,093 69
Slide 55: Steel: Inventories and Months of Supply
Steel: Inventories and Months of Supply Inventories and Inventories and Inventories Months of Supply - Germany Months of Supply - USA China Inventories MOS Inventories MOS Inventories [m t] [months] [m st] [months] [m t] Germany: German Steel Traders: October inventories USA: November MSCI inventori
Slide 56: Premium Product Mix and Attractive Customer Portfolio
Premium Product Mix and Attractive Customer Portfolio Business Model ThyssenKrupp Steel Europe Large Premium Scale Niches Product Mix Steel Europe FY 2012/13 Sales by Industry Steel Europe FY 2012/13 in % of sales in % of sales Tailored Hot Strip Blanks Others Automotive industry Tinplate Packaging
Slide 57: Steel Americas – Q4 2012/13 Highlights
Steel Americas – Q4 2012/13 Highlights Order intake in €m Production & shipments in 1,000 t EBIT in €m EBIT EBIT adjusted 869 854 887 823 986 Slab production CSA (44) Q4 Q3 Q4 (122) (136) 560 (192) 509 2011/12 2012/13 (232) 496 453 490 592 597 692 627 562 Shipments Steel USA (3,966) (821) Q4 Q3 Q4 Q
Slide 58: Steel Americas
Steel Americas Key figures 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 583 632 413 453 2,081 560 509 496 490 2,056 Sales €m 498 546 543 427 2,014 488 501 472 406 1,867 EBITDA €m (205) (140) (170) (214) (729) (87) (12) (162) (205) (467) EBITDA adjusted €m (205) (138) (170) (125) (63
Slide 59: Continuing Tight Inventory Management at All Materials BAs
Continuing Tight Inventory Management at All Materials BAs Steel Europe Materials Services Inventories Steel Americas Inventories (Metals Services, only warehous. bus., ex Mannex) Inventories mt days mt inventories m t days mt inventories m t days 12 120 2,0 DIO 120 2,5 DIO steel products* 250 DIO r
Slide 60: Corporate: Overview
Corporate: Overview Corporate 2011/12 2012/13 Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY Order intake €m 33 39 34 52 158 55 43 43 49 190 Sales €m 35 37 34 52 158 55 43 43 49 190 EBITDA €m (88) (108) (96) (159) (452) (102) (128) (73) (154) (458) EBITDA adjusted €m (90) (109) (97) (149) (446) (88) (110) (83) (105)
Slide 61: ThyssenKrupp Rating
ThyssenKrupp Rating Long term- Short term- Outlook rating rating Standard & Poor’s BB B negative Moody’s Ba1 Not Prime negative Fitch BB+ B negative Presentation ThyssenKrupp January 2014 60 Developing the future.
Slide 62: Reconciliation of EBIT FY 2012/13
ThyssenKrupp-specific Key Figures: Reconciliation of EBIT FY 2012/13 P&L Structure EBIT definition Net sales 38,559 Net sales 38,559 - Cost of sales 1) (33,809) - Cost of sales 1) (33,809) - SG&A 1), R&D (5,172) - 1) SG&A , R&D (5,172) +/- Other income/expense (347) +/- Other income/expense (347) +/
Slide 63: Management Compensation Aligned with Shareholder Interest
Management Compensation Aligned with Shareholder Interest Group Board: 50% Group EBIT / 50% ROCE, Performance 25% paid out as phantom stock* with 3 years holding requirement bonus BA Board: 30% Group EBIT, FCF and TKVA / 70% BA EBIT, BCF and TKVA, 20% paid out as phantom stock* with 3 years hold
Slide 64: Shareholder Structure
Shareholder Structure AKBH Foundation 23.03% Free Float Cevian Capital 10.96% 66.01% International Mutual Funds 53.51% Private Investors 12.50% Source: WpHG Announcement of December 3 and 6, 2013; ThyssenKrupp Shareholder ID 09/2013 Presentation ThyssenKrupp January 2014 63 Developing the future.
Slide 65: Our Mission Statement
Our Mission Statement We are ThyssenKrupp – The Technology & Materials Company. Competence and diversity, global reach, and tradition form the basis of our worldwide market leadership. We create value for customers, employees and shareholders. We Meet the Challenges of Tomorrow with our Customers. W
Slide 66: Disclaimer ThyssenKrupp AG
Disclaimer ThyssenKrupp AG “The information set forth and included in this presentation is not provided in connection with an offer or solicitation for the purchase or sale of a security and is intended for informational purposes only. This presentation contains forward-looking statements that are s