Thyssenkrupp Ag · XETR:TKA
Thyssenkrupp — Non-Deal Roadshow (June 2004)
30 slides from Thyssenkrupp's roadshow presentation, June 2004
Slide 1: Q2 2003/2004 – Overview: Business picking up
Investors’ Information May/June 2004 1 Q2 2003/2004 – Overview Business picking up { Order intake up 18% at €10.7 billion, at constant €/$ rate up 22% { Sales up 7% at €9.8 billion, at constant €/$ rate up 11% { EBT from continuing operations €249 million, up €42 million against last year’s EBT figu
Slide 2: Highlights
Investors’ Information May/June 2004 2 Highlights { Business in Steel is continuously improving - Orders, sales and EBT (adjusted for disposals) picking up - Carbon Steel driving profits, Stainless Steel cyclical, Special Materials still difficult - Further price increases implemented { Services and
Slide 3: Portfolio Optimizations since October 2003
Investors’ Information May/June 2004 3 Portfolio Optimizations since October 2003 Automotive Technologies MB Lenk Group (D) Acquisition Novoferm (D) Disposal Darcast (UK) Disposal Sheffield Automation (USA) Disposal* Bertrandt (D) Acquisition* Foundry (USA) Closure Elevator Services Dong Yang Elevat
Slide 4: Portfolio Optimization – Disposals
Investors’ Information May/June 2004 4 Portfolio Optimization – Disposals Number Sales EBT Net Pension Employees of Entities (annual) (annual) Financial Obligations Debt Fiscal Year 12* €919 m €1 m €242 m €19 m 4,529 2002/03 1st Quarter 1 €327 m €8 m €1 m €14 m 2,177 2003/04 2nd Quarter 1 €365 m €16
Slide 5: Disposal Triaton – Key Facts
Investors’ Information May/June 2004 5 Disposal Triaton – Key Facts Sales €365 million * Due to the continuation of service contracts EBT €16 million between ThyssenKrupp and Triaton for a fixed Employees 2,311 period of seven years, €64 million of disposal Transaction Volume €351 million gain will
Slide 6: Disposal Triaton Group – Impact on the Group
Investors’ Information May/June 2004 6 Disposal Triaton Group – Impact on the Group Q2 02/03 Q2 02/03 Q2 03/04 incl. excl. excl. Discontinued Adjustments Discontinued Discontinued Group Operations Operations Operations Order intake €m 9,134 -53 9,081 10,744 Sales €m 9,218 -53 9,165 9,847 EBITDA €m 6
Slide 7: Disposal Triaton Group – Impact on the Services Segment
Investors’ Information May/June 2004 7 Disposal Triaton Group – Impact on the Services Segment Q2 02/03 Q2 02/03 Q2 03/04 incl. excl. excl. Discontinued Adjustments Discontinued Discontinued Services Operations Operations Operations Order intake €m 2,845 -53 2,792 2,882 Sales €m 2,772 -53 2,719 2,81
Slide 8: Outlook
Investors’ Information May/June 2004 8 Outlook { For the 2nd half of fiscal 2003/2004 we currently expect an unchanged economic environment, even though the risks of an economic weakening have increased. { For the full year we forecast sales in the magnitude of roughly €38 billion. In terms of earni
Slide 9: Group (I)
Investors’ Information May/June 2004 9 Group (I) Order intake million € Sales million € 35,832 35,922 Q4 8,748 Q4 9,318 Q3 9,021 20,313 Q3 8,798 18,534 22% 11% 18% 10,744 Q2 9,081 Q2 9,165 7% 9,847 Q1 8,982 9,569 Q1 8,641 8,687 02/03 03/04 02/03 03/04 excluding €/$ exchange rate effects excluding €/
Slide 10: Group (II)
Investors’ Information May/June 2004 10 Group (II) EBT million € 726 706 2) 41 1) 61 Q4 100 161 Q3 218 218 412 412 Q2 248 207 20% 249 249 Q1 140 140 163 163 02/03 02/03 03/04 03/04 reported normalized normalized reported 1) Sale of stainless quarto plate activities €41 m 2) Sale of construction serv
Slide 11: Group (III)
Investors’ Information May/June 2004 11 Group (III) EBIT million € Net income million € 896 Q4 143 518 507 Q3 260 Q4 85 366 300 Q3 212 242 122 Q2 305 305 -2% 2 277 Q2 157 -1% 155 Q1 188 218 Q1 53 87 89 02/03 02/03 03/04 03/04 02/03 03/04 03/04 incl. Discontinued Operations Earnings per share € 1.01
Slide 12: Group (IV)
Investors’ Information May/June 2004 12 Group (IV) EBITDA* million € Depreciation and amortization million € 2,414 Q4 519 1,518 Q3 635 1,241 Q4 376 Q2 681 -4% 656 Q3 375 723 Q2 376 -5% 356 Q1 579 584 Q1 391 367 02/03 03/04 02/03 * 03/04 * excl. interest on accrued pension liabilities * figures not a
Slide 13: Group (V)
Investors’ Information May/June 2004 13 Group (V) Financial payables million € Stockholders’ equity million € 5,726 795 4,948 5,176 Cash and cash 8,149 7,631 7,705 7,614 713 978 equivalents 896 51.9% Equity to fixed 49.1% 50.4% assets ratio 4,931 4,280 4,553 Net financial 4,235 1% payables 26.7% 25.
Slide 14: Segment Overview – Steel (I)
Investors’ Information May/June 2004 14 Segment Overview – Steel (I) Steel { International market characterized by high million € 2nd quarter demand and significantly increased raw material costs at the beginning of the year 2002/03 2003/04 Change Change => jump in freight rates and costs of ore, in
Slide 15: Segment Overview – Steel (II)
Investors’ Information May/June 2004 15 Segment Overview – Steel (II) Steel Stainless Steel 2nd quarter { Rise in order intake reflecting higher demand { Total shipments 9% lower, mainly as a result 2002/03 2003/04 Change Change in % of a strike at the Terni plant Crude steel output 4.4 4.4 +/- +/-
Slide 16: Segment Overview – Capital Goods (I)
Investors’ Information May/June 2004 16 Segment Overview – Capital Goods (I) Automotive 2nd quarter 2002/03 2003/04 Change Change in % Order intake €m 1,596 1,887 291 18.2 Sales €m 1,601 1,888 287 17.9 EBITDA €m 123 159 36 29.3 EBIT €m 53 80 27 50.9 EBT €m 47 69 22 46.8 Employees (March 31) 37,736 4
Slide 17: Segment Overview – Capital Goods (II)
Investors’ Information May/June 2004 17 Segment Overview – Capital Goods (II) Elevator 2nd quarter 2002/03 2003/04 Change Change in % Order intake €m 836 918 82 9.8 Sales €m 812 833 21 2.6 EBITDA €m 99 99 +/- +/- EBIT €m 88 87 -1 -1.1 EBT €m 83 81 -2 -2.4 Employees (March 31) 29,054 30,817 1,763 6.1
Slide 18: Segment Overview – Capital Goods (III)
Investors’ Information May/June 2004 18 Segment Overview – Capital Goods (III) Technologies 2nd quarter 2002/03 2003/04 Change Change in % Order intake €m 1,068 1,436 368 34.5 Sales €m 1,336 1,215 -121 -9.1 EBITDA €m 41 25 -16 -39.0 EBIT €m 3 (5) -8 - EBT €m 15 2 -13 -86.7 Employees (March 31) 31,50
Slide 19: Segment Overview - Services
Investors’ Information May/June 2004 19 Segment Overview - Services Services 2nd quarter 2002/03 2003/04 Change Change in % Order intake €m 2,792 2,882 90 3.2 Sales €m 2,719 2,819 100 3.7 EBITDA €m 66 75 -9 13.6 EBIT €m 29 45 16 55.2 EBT €m 17 38 21 123.5 Employees (March 31) 38,892 34,692 -4,200 -1
Slide 20: ThyssenKrupp Group 2002/2003
Investors’ Information May/June 2004 20 ThyssenKrupp Group 2002/2003 ThyssenKrupp AG Group sales (consolidated): €35.9 billion • EBT (consolidated): €706 million • Employees: 190,102 Steel Automotive Elevator Technologies Services Sales: €12.0 bn Sales: €6.3 bn Sales: €3.4 bn Sales: €5.4 bn Sales: €
Slide 21: Strategic Areas of Emphasis
Investors’ Information May/June 2004 21 Strategic Areas of Emphasis Spread to WACC negative n/a positive Capital employed ROCE Capital employed Steel Automotive Elevator Technologies Services Strategic actions { Focusing { Efficiency { Organic growth enhancement Acquisitions { Disposals { { Restruct
Slide 22: Portfolio Optimization through Focusing
Investors’ Information May/June 2004 22 Portfolio Optimization through Focusing Structural changes since the merger (fiscal 1998/99 to 2002/03) 50 40-46 billion € 40 Sales (billion €) Activities Core Group 30 disposed of/ activities (total) for disposal 20 1998/99 8.4 21.4 29.8 10 2002/03 4.8 31.3 3
Slide 23: Strategic Key Points
Investors’ Information May/June 2004 23 Strategic Key Points { Expand technological and innovative capabilities { Make optimal use of potential within the Group { Strengthen customer and service orientation { Manage value systematically by concentrating on high-performance business areas and active
Slide 24: ThyssenKrupp Innovations (I)
Investors’ Information May/June 2004 24 ThyssenKrupp Innovations (I) Steel Steel Steel design wheels with Nirosta® cover Preprimed sheet: organic coated steel { High-quality appearance { The prepainted sheet already has half of the paint system { Integrated design flexibility needed for body outer p
Slide 25: ThyssenKrupp Innovations (II)
Investors’ Information May/June 2004 25 ThyssenKrupp Innovations (II) Automotive Automotive ORS© Off-road stabilizers for sport utility vehicles Innovative air suspension system for the new Jaguar XJ { Air suspension, which has considerable comfort advantages in comparison to conventional spring sus
Slide 26: ThyssenKrupp Innovations (III)
Investors’ Information May/June 2004 26 ThyssenKrupp Innovations (III) Elevator Technologies TWIN® elevator Ammonia plant { The Dual Pressure Process aimed { Production-ready elevator system at a significant increase in plant with two independent cabs in one capacity with simultaneous shaft reductio
Slide 27: Financial Calendar 2004
Investors’ Information May/June 2004 27 Financial Calendar 2004 { July 23 to Quiet Period August 11, 2004 { August 12, 2004 Interim Report 3rd quarter 2003/04 (April to June) Conference Call with Analysts and Investors { October 25 to Quiet Period November 30, 2004 { December 1, 2004 Annual Press Co
Slide 28: Financial Calendar 2005
Investors’ Information May/June 2004 28 Financial Calendar 2005 { January 21, 2005 Annual General Meeting { January 24, 2005 Payment of dividend for the 2003/04 fiscal year { January 25, 2005 Quiet Period to February 11, 2005 { February 14, 2005 Interim Report 1st quarter 2004/05 (October to Decembe
Slide 29: How to contact ThyssenKrupp Investor Relations
Investors’ Information May/June 2004 29 How to contact ThyssenKrupp Investor Relations Institutional Investors and Analysts: { Phone: +49 211 824-36464 To be added to the IR mailing list, send us a { Fax: +49 211 824-36467 brief e-mail with your details! { E-mail: [email protected] { Internet: www
Slide 30: Disclaimer
Investors’ Information May/June 2004 30 Disclaimer This presentation contains certain statements that are neither reported financial results nor other historical information. These statements are forward-looking statements and are subject to risk and uncertainties that could cause actual results to