Annual Report 1998/99

Total Page:16

File Type:pdf, Size:1020Kb

Annual Report 1998/99 1998/99 1997/98 Pro forma figures ¤DM ¤DM Order intake m 31,964 62,516 36,265 70,928 Sales m 32,378 63,325 35,884 70,182 EBITDA m 2,552 4,991 3,043 5,951 Income before taxes and minority interests m 616 1,205 1,335 2,611 Net income m 275 538 695 1,359 Earnings per share 0.53 1.04 1.35 2.64 Earnings per share excluding non-recurring items 0.79 1.55 1.45 2.84 Return on equity including purchase accounting % 3.4 9.0* excluding purchase accounting % 9.6 18.3* ROCE including purchase accounting % 6.4 10.3 excluding purchase accounting % 8.3 12.8 EVA including purchase accounting m – 519 – 1,014 248 485 excluding purchase accounting m – 126 – 246 630 1,232 Net financial payables m 6,193 12,113 3,741* 7,316* Stockholders’ equity m 8,053 15,750 7,750* 15,158* Gearing % 76.9 48.3* Employees (Sept. 30) 184,770 183,937 * Thyssen and Krupp excluding Dover Elevators and Mannesmann Handel 1998/99 Proposal to Annual Stockholders' Meeting ¤DM Total dividend payment m 368 720 Dividend per share 0.71581 1.40 All figures in this report are presented on a pro forma basis. For both fiscal years these pro forma figures include figures for Krupp, Dover Elevators and Mannesmann Handel as well as those for Thyssen. This applies independently of the initial consolidation date. All figures in this report are in ¤, with key figures also shown in DM. The translation rate is 1 ¤ = 1.95583 DM. OVERVIEW OF THYSSENKRUPP ThyssenKrupp Group Segments Steel Automotive Industries New segments Steel Automotive Elevators Production Systems 1998/99 1998/99 1998/99 1998/99 Sales ¤ m 10,452 Sales ¤ m 5,208 Sales ¤ m 2,756 Sales ¤ m 1,257 Income* ¤ m 248 Income* ¤ m 291 Income* ¤ m 145 Income* ¤ m – 6 * before taxes and minority interests Employees (Sept. 30) 54,388 Employees (Sept. 30) 37,594 Employees (Sept. 30) 26,126 Employees (Sept. 30) 8,383 Engineering Materials & Services Other Group Companies L Components MaterialsServices FacilitiesServices Real Estate Engineering Overview of ThyssenKrupp 1998/99 Sales ¤ m 1,816 Income* ¤ m 4 Employees (Sept. 30) 9,594 Others 1998/99 1998/99 1998/99 1998/99 1998/99 Sales ¤ m 1,184 Sales ¤ m 8,886 Sales ¤ m 1,298 Sales ¤ m 426 Sales ¤ m 2,108 Income* ¤ m 76 Income* ¤ m 80 Income* ¤ m 71 Income* ¤ m 54 Income* ¤ m – 291 Employees (Sept. 30) 9,191 Employees (Sept. 30) 12,815 Employees (Sept. 30) 15,378 Employees (Sept. 30) 831 Employees (Sept. 30) 10,470 CONTENTS 1 The Group in figures Overview of ThyssenKrupp 2 Executive Board 3 Letter to Stockholders 8 ThyssenKrupp shares Year One 16 The merger 18 Growing together 22 Communication in a new corporate design 24 Economic situation 1998/99 30 Start to the new fiscal year Strategy for the future 34 6-point program to increase value 38 Steel flotation 40 Focus on customers 42 The world market in our sights 44 People at ThyssenKrupp 48 Technological capability as a competitive factor The Group’s segments 54 Steel 58 Automotive 62 Elevators 64 Production Systems 66 Components 68 MaterialsServices 72 FacilitiesServices 74 Real Estate 76 Engineering 78 Others 80 Supervisory Board 82 Report by the Supervisory Board 86 Major Subsidiaries and Investments 88 Contact ThyssenKrupp Glossary Index 2000/2001 financial calendar 2 Executive Board. Dr. Gerhard Cromme Prof. Dr. Ekkehard Schulz Chairman Chairman also Executive Board Chairman of also Executive Board Chairman of Thyssen Krupp Automotive AG Thyssen Krupp Steel AG Directorates Directorates Corporate development Central bureau Communication Senior executives Segment Technical developments Automotive Energy and environment Segment Steel Dr. Hans-Erich Forster Dr. Gerhard Jooss Jürgen Rossberg also Executive Board Chairman of Directorates Directorates Thyssen Krupp Materials & Corporate accounting Legal affairs Services AG Taxes and customs Organizational development Segments Foreign organization Internal auditing MaterialsServices Materials management Real estate FacilitiesServices Information technology Segment Others Real Estate Project Management Dr. Ulrich Middelmann Directorates Dr. Heinz-Gerd Stein Dieter Hennig Controlling Directorates also Labor Director of Mergers & Acquisitions Finance Thyssen Krupp Steel AG Investor relations Directorates Investments Personnel and social policy Prof. Dr. Eckhard Rohkamm Insurance General administration also Executive Board Chairman of Thyssen Krupp Industries AG Segments Elevators Production Systems Components Engineering Others Shipyards Plastics Machinery Civil Engineering 3 Letter to Stockholders. Dear Stockholders, For ThyssenKrupp, 1998/99 was the year of the merger: " Thyssen and Krupp were combined swiftly into a new entity. Our task was to implement the merger plan that you approved by a large majority in late 1998 and justify the trust you placed in us. " Our businesses were operating in a difficult economic environment. They were not to be additionally impeded by the post-merger process. On the contrary, the merger of Thyssen and Krupp was to bring immediate benefits for all. " The merger is not the end of the road. It is the platform on which to strengthen the competitiveness of ThyssenKrupp long-term and the foundation for the strategic realignment ahead. We went to work on this three-fold challenge immediately, drawing on the combined efforts of all employees at all levels of the Group to achieve our shared aims. We would like to thank everyone for their extremely hard work in the crucial first year of the new company. Today we want to take stock and report to you, the owners of the Company, on the year of the merger. We also wish to explain to you how we see the future for ThyssenKrupp. Merger completed in mere months We succeeded quickly in combining Thyssen and Krupp. A detailed timetable and action plan for implementing the merger, early decisions on filling management positions and a policy of keeping employees fully informed were important factors in this. In summer 1999, mere months after the launch of ThyssenKrupp, the process was largely complete. Speed was of the essence. The task was to bring the merger plan to life and prove it made sense, and there is no more persuasive argument than rapid success. Not least through the speed of the post-merger integration we proved that the merger was the right solution for Thyssen and Krupp. Compared with combining our production and service capacities, optimizing our locations and uniting our workforces, the job of harmonizing our internal reporting and information systems will appear to many 4 LETTER TO STOCKHOLDERS to be of secondary importance, but in fact it was key to managing the new company efficiently and meas- uring the success of the integration process. We used the opportunity created by the harmonization of our reporting systems to take another step toward enhancing the transparency of our operations, internally and externally. ThyssenKrupp switched its accounting to US GAAP for the 1998/99 fiscal year and in doing so adopted the highest international stand- ard. Under US GAAP rules our merger has to be accounted for as if Thyssen had acquired Krupp. The date of the initial consolidation is December 4, 1998 – the date of the merger stockholders’ meeting of Thyssen AG – as the hypothetical date of acquisition. Krupp is included in the US GAAP figures as of this date only. This approach detracts materially from the comparability of the figures and presents an inadequate picture of the Group's actual performance. Therefore, in addition to the legally relevant US GAAP statements we have stat- ed key financial figures on a pro forma basis, both for 1998/99 and for 1997/98. For this reason, this year's annual report is a double offering: the Year One Report is based on the comparable pro forma figures on an annualized basis, while the Financial Report contains the US GAAP statements. Business and earnings satisfactory The economic weakness affecting many of the sectors and regions of importance to the Group left its mark on our books as well. On a like-for-like basis, sales in the reporting period fell ¤3.5 billion to ¤32.4 billion. Income before taxes and minority interests decreased from ¤1,335 million to ¤616 million. The US GAAP consolidated statements for the first fiscal year show sales of ¤29.8 billion and income before taxes and minority interests of ¤624 million. This translates into earnings per share excluding non- recurrent items of ¤0.83 or DM1.62. Based on this we will be recommending the Annual Stockholders' Meeting on May 24, 2000 to approve the payment of a dividend of DM1.40 or ¤0.71581 per share for 1998/99. Six strategic core businesses in future The world keeps on turning. The merged Group therefore cannot afford to take a break. In fact business momentum has quickened even more with the new technologies and the increasingly global transfer of resources of all kinds. It is all the more important to face up to the challenges of competition. LETTER TO STOCKHOLDERS 5 In summer 1999 we carried out an analysis of the Group's extended portfolio of businesses after the merger, examining their strengths and weaknesses and assessing their potential for growth and value generation against their financing requirements. The result was clear – the merger has strengthened our market positions and opened new strategic opportunities. All our businesses are capable of expansion. However the available financial resources of the Group and the differences in growth potential between the businesses call for further concentration and focusing. Selection criteria are profitability and liquidity, growth in the market, competitive positioning, service share of sales and position in the life cycle. The core businesses in which ThyssenKrupp aims to rank among the best worldwide are Automotive, Elevators, Production Systems, Components, MaterialsServices and FacilitiesServices, plus the soon to be listed Steel business.
Recommended publications
  • Nazi Privatization in 1930S Germany1 by GERMÀ BEL
    Economic History Review (2009) Against the mainstream: Nazi privatization in 1930s Germany1 By GERMÀ BEL Nationalization was particularly important in the early 1930s in Germany.The state took over a large industrial concern, large commercial banks, and other minor firms. In the mid-1930s, the Nazi regime transferred public ownership to the private sector. In doing so, they went against the mainstream trends in western capitalistic countries, none of which systematically reprivatized firms during the 1930s. Privatization was used as a political tool to enhance support for the government and for the Nazi Party. In addition, growing financial restrictions because of the cost of the rearmament programme provided additional motivations for privatization. rivatization of large parts of the public sector was one of the defining policies Pof the last quarter of the twentieth century. Most scholars have understood privatization as the transfer of government-owned firms and assets to the private sector,2 as well as the delegation to the private sector of the delivery of services previously delivered by the public sector.3 Other scholars have adopted a much broader meaning of privatization, including (besides transfer of public assets and delegation of public services) deregulation, as well as the private funding of services previously delivered without charging the users.4 In any case, modern privatization has been usually accompanied by the removal of state direction and a reliance on the free market. Thus, privatization and market liberalization have usually gone together. Privatizations in Chile and the UK, which began to be implemented in the 1970s and 1980s, are usually considered the first privatization policies in modern history.5 A few researchers have found earlier instances.
    [Show full text]
  • Thyssenkrupp Annual Report 2014
    2013_2014 ANNUAL REPORT THYSSENKRUPP AG Developing the future. C2 ThyssenKrupp in figures ThyssenKrupp in figures The Group in figures 1) Group total Continuing operations Change Change 2012/2013 2013/2014 Change in % 2012/2013 2013/2014 Change in % Order intake million € 39,774 41,416 1,642 4 38,636 41,416 2,780 7 Net sales total million € 39,782 41,304 1,522 4 38,559 41,304 2,745 7 EBITDA million € 1,212 2,274 1,062 88 1,154 2,088 934 81 EBIT million € (552) 1,151 1,703 ++ (608) 965 1,573 ++ EBIT margin % (1.4) 2.8 4.2 — (1.6) 2.3 3.9 — Adjusted EBIT million € 517 1,333 816 158 586 1,333 747 127 Adjusted EBIT margin % 1.3 3.2 1.9 — 1.5 3.2 1.7 — EBT million € (1,648) 428 2,076 ++ (1,706) 242 1,948 ++ Net income/(loss) / Income/(loss) (net of tax) million € (1,576) 195 1,771 ++ (1,629) 9 1,638 ++ attributable to ThyssenKrupp AG's shareholders million € (1,436) 210 1,646 ++ (1,490) 24 1,514 ++ Basic earnings per share € (2.79) 0.38 3.17 ++ (2.90) 0.04 2.94 ++ Operating cash flow million € 786 887 101 13 981 887 (94) (10) Cash flow for investments million € (1,411) (1,141) 270 19 (1,313) (1,141) 172 13 Free cash flow before divestments million € (625) (254) 371 59 (332) (254) 78 23 Cash flow from divestments million € 1,221 1,053 (168) (14) 1,221 1,053 (168) (14) Free cash flow million € 596 799 203 34 889 799 (90) (10) Employees (September 30) 156,856 160,745 3,889 2 156,856 160,745 3,889 2 Germany 58,164 59,783 1,619 3 58,164 59,783 1,619 3 Abroad 98,692 100,962 2,270 2 98,692 100,962 2,270 2 Dividend per share € — 0.11 2) — — Dividend payout million € — 62 2) — — ROCE % (3.8) 9.0 12.8 — ThyssenKrupp Value Added million € (1,865) 5 1,870 ++ Net financial debt (September 30) million € 5,038 3,488 (1,550) (31) Total equity (September 30) million € 2,512 3,199 687 27 Gearing % 200.6 109.0 (91.6) — 1) The prior-year figures have been adjusted due to the adoption of IAS 19R and the catch-up of depreciation for Berco (cf.
    [Show full text]
  • PUB DATE 90 NOTE 233P. PUB TYPE Guides-Classroom Use-Guides
    DOCUMENT RESUME ED 325 426 SO 030 186 TITLE Germany and Georgia: Partners for the Future. Instructional Materials foL Georgia Schools, Volumes I and II. INSTITUTION Georgia State Dept. of Education, Atlanta.; German Federal Foreign Office, Bonn (West Germany). PUB DATE 90 NOTE 233p. PUB TYPE Guides - Classroom Use - Guides (For Teachers) (052) EDRS PRICE MF01/PC30 rlus Postage. DESCRIPTORS Ele.lentary Secondary Education; Foreign Countries; *Foreign Culture; Instructional Materials; Learning Activities; Social Studies; *State Programs; Teaching Methods IDENTIFIERS *Georgia; *Germany ABSTRACT A collection of lessons is presented for teaching abouL the Federal Republic of Germany that were developed as a result of a study/travel seminar attended by 18 Georgia educators during the summer of 1989. Lessons are designed so that they may either be used individually, J.ntegrated into the curriculum at appropriate places, or be used as a complete unit. Teachers are advised to adjust the materials to accommodate the needs and interests of performance levels of students. Each lesson begins with an outline for teaching that includes instructional objective, and a sequenced list of procedures for using the activities provided with the lesson. Teachers are provided with most of the materials ne.eded for implementation. Volume 1 contains lessons on these topics: introduction to Germany, geography and environment, history and culture, and people. Volume II conta. Ns lesson on these topics concerning contemporary Germany: goveLnment, economics, society,
    [Show full text]
  • View Annual Report
    For customers, progress. For people, a future. Annual Report 2002_2003 TK C/1 Working for the future ThyssenKrupp aims to achieve continuous improvements in all areas. That’s a message we also want to put across in our annual reports. Whereas last year the focus was on sustainability and active dialogue, this year we want to take a closer look at innova- tions. Innovations at ThyssenKrupp are also the result of dialogue – with customers and employees. Addressing specific subjects from many different angles enables us to develop commercially successful innovations of the highest quality. For our customers, for our stockholders, for our employees. For people. www.thyssenkrupp.com Cover picture: ThyssenKrupp moving walks in the Seceda ski tunnel, St. Ulrich/Italy C/2 ThyssenKrupp in brief ThyssenKrupp is a global concern with business activities focused on the areas of Steel, Capital Goods and Services. We have over 190,000 employees in more than 70 countries developing products and services to meet the challenges of the future. In all five segments – Steel, Automotive, Elevator, Technologies and Services – they provide high- quality solutions to people’s needs and our customers’ requirements. Steel Capital Goods Services Steel Automotive Elevator Technologies Services The Group in figures 2001/2002 2002/2003 Change Order intake million € 36,404 36,047 – 357 Sales million € 36,698 36,137 – 561 EBITDA million € 2,648 2,454 – 194 EBIT million € 1,046 905 – 141 EBT (Income before taxes and minority interest) million € 762 714 – 48 Normalized
    [Show full text]
  • Growing Together Annual Report
    8$& THYSSENKRUPPJ>OII;DAHKFF9ECF79J COMPACT ? I Annual Report On November 21, 2005, the Alfried Krupp von Bohlen und Halbach Foundation purchased 15,339,893 treasury shares of ThyssenKrupp ag – equating to 2.98% of the capital stock – from the Company at the market price of €17.44. As a 2004 2005 result of this transaction and the issue of employee shares in and , 2004_2005 ThyssenKrupp ag has sold all the treasury stock purchased from ific Holding ag in May 2003. addition to disposition of unappropriated profit dispositionofunappropriated addition to THEJ> ;GROUP=HEKF?D<?=KH IN FIGURES;I Due to this event, the following data have changed compared with(&& )%(the&& situation* (&&*%(&&+ at the 9^Wd][ 2003/2004 2004/2005 Change balance sheet date and the time the financial statements were drawn up: 9edj_dk_d]ef[hWj_edie\j^[=hekf Continuing operations of the Group EhZ[h_djWa[ c_bb_edÐ ).".() *("+&. )",.+ Order intakeThe Alfried Krupp von Bohlen und Halbach Foundation million as € the largest38,823 stockholder42,508 now 3,685 IWb[i c_bb_edÐ )-")&) *("&,* *"-,' Salesholds 23.58% of the voting rights in ThyssenKrupp millionag (previously € 37,303 20.6%). 42,064 4,761 ;8?J:7 c_bb_edÐ )"&), )"*+( *', EBITDA million € 3,036 3,452 416 ;8?J ;VXihVcY[^\jgZh# c_bb_edÐ '",.) ("&&' )'. EBIT The free float is reduced from 79.4% to 76.4% million € 1,683 2,001 318 <gdl^c\id\Zi]Zg ;8J_dYec[\hecYedj_dk_d]eÆi]nhhZc`gjeeXdbeVXiÇf[hWj_ediX[\eh[jWn[i XdciV^chVaai]ZcjbWZgh[dg EBT (income from continuing operations before taxes WdZc_deh_jo_dj[h[ij i]Z'%%)T'%%*[^hXVanZVg#>[^iÈhcdi]ZgZ!ndjXVcYdlcadVYc_bb_edÐ
    [Show full text]
  • Financial Statements and Management Report Thyssenkrupp Ag
    2001 2002 Financial Statements and Management Report ThyssenKrupp ag Financial Statements and Management Report TK Jahresabschluss und Lagebericht 2001/2002 ThyssenKrupp AG Inhalt 01 Contents Financial Statements as of September 30, 2002 and Management Report on the Fiscal Year 2001/2002 ThyssenKrupp ag 02 Management Report 02 1. Course of business in 2001/2002 18 2. Income, dividend 23 3. Economic value added management 27 4. Central financing of the ThyssenKrupp Group 29 5. Risk management 33 6. Subsequent events 33 7. Start of the new fiscal year and outlook 38 Balance sheet / Income statement 38 Balance sheet 39 Income statement 40 Notes 42 Fixed assets schedule 44 Notes to the balance sheet 49 Notes to the income statements 53 Audit opinion 54 Executive board / Supervisory board 54 Executive board 56 Supervisory board 58 List of equity interests 72 Contact / Dates 02 Management Report 1. Course of business in 2001/2002 The general economic conditions provided little stimulus for business in fiscal year 2001/2002: The hoped-for recovery failed to materialize and economic growth turned out much lower than expected. Above all, the market weakness in the first half of the year impeded ThyssenKrupp’s progress. Order intake decreased 4% to €36.4 billion, sales by 3% to €36.7 billion. Income before taxes and minority interest reached €762 million following €1,117 million a year earlier. ThyssenKrupp is the parent company of the ThyssenKrupp Group. Responsibility for operating business rests with the segments and the Group subsidiaries. The consolidated financial statements of ThyssenKrupp ag are drawn up in accordance with Generally Accepted Accounting Principles (us gaap) and are supplemented by a Group Management Report pursuant to Art.
    [Show full text]
  • Financial Statements and Management Report 2008/2009
    Financial Statements and Management Report ThyssenKrupp ag Fiscal year 08 09 ManageMent report Contents 01 Contents Financial Statements and Management Report 2008/2009 01 Management report P. 02 – 38 02 / Areas of business and organizational structure 11 / New organizational structure 13 / Course of business 18 / Financial position 21 / Business management – goals and strategy 23 / Employees 24 / Compensation report 31 / Risk report 37 / Subsequent events, opportunities and outlook 02 Financial statements P. 39 – 71 39 / Balance sheet 40 / Income statement 41 / Notes 51 / Auditors’ report 52 / Responsibility statement 53 / Executive Board 54 / Supervisory Board 56 / List of equity interests 03 Additional information P. 72 72 / Contact and 2010/2011 dates The business performance of ThyssenKrupp AG as holding company is mainly characterized by the activities of the Group. The management report therefore also reflects the business situation of the Group, whose accounting system is based on the International Financial Reporting Standards (IFRS). The financial statements of ThyssenKrupp AG were prepared according to the accounting regulations for large incorporated enterprises with the legal form of a stock corporation (Aktiengesellschaft) under German commercial law including the generally accepted accounting principles. 02 Areas of business and organizational structure Innovative capabilities, an efficient organizational structure and a forward-looking business strategy – these are the strengths of ThyssenKrupp in the international marketplace. Capabilities and organizational structure Capabilities Tailored materials of all kinds and a comprehensive range of high-end technological goods, backed by a broad portfolio of services, characterize the capabilities that ThyssenKrupp offers customers throughout the world. Whether it’s steel for auto bodies, a petrochemical complex or slewing bearings for wind turbines – the employees of our subsidiaries have a lot to offer.
    [Show full text]
  • Thyssenkrupp Annual Report 2014/2015 Thyssenkrupp in Figures
    Annual Report 2014 / 2015 C2 thyssenkrupp annual report 2014/2015 thyssenkrupp in figures thyssenkrupp in figures thyssenkrupp in figures 1) Full Group Continuing operations 2013/2014 2014/2015 Change in % 2013/2014 2014/2015 Change in % Order intake million € 41,376 41,318 (58) 0 41,376 41,318 (58) 0 Net sales million € 41,212 42,778 1,566 4 41,212 42,778 1,566 4 EBITDA million € 2,330 2,445 115 5 2,145 2,456 311 14 EBIT 2) million € 1,145 1,050 (95) (8) 959 1,061 102 11 EBIT margin 2) % 2.8 2.5 (0.3) — 2.3 2.5 0.2 — Adjusted EBIT 2) million € 1,329 1,676 347 26 1,329 1,676 347 26 Adjusted EBIT margin 2) % 3.2 3.9 0.7 — 3.2 3.9 0.7 — EBT million € 429 485 56 13 243 496 253 104 Net income/(loss) / Income/(loss) (net of tax) million € 195 268 73 37 9 279 270 ++ attributable to thyssenkrupp AG's shareholders million € 212 309 97 46 26 320 294 ++ Basic earnings per share € 0.38 0.55 0.17 45 0.05 0.57 0.52 ++ Operating cashflow million € 903 1,300 397 44 903 1,311 408 45 Cashflow for investments million € (1,260) (1,235) 25 2 (1,260) (1,235) 25 2 Free cashflow before divestments million € (357) 65 422 ++ (357) 76 433 ++ Cashflow from divestments million € 1,054 597 (457) (43) 1,054 597 (457) (43) Free cashflow million € 697 662 (35) (5) 697 673 (24) (3) Net financial debt (September 30) million € 3,677 3,414 (263) (7) Total equity (September 30) million € 3,199 3,307 108 3 Gearing (September 30) % 114.9 103.2 (11.7) — ROCE % 7.2 6.5 (0.7) — thyssenkrupp Value Added million € (282) (399) (117) (41) Dividend per share € 0.11 0.15 3) — — Dividend payout million € 62 85 3) — — Employees (September 30) 162,372 154,906 (7,466) (5) 1) Prior-year figures have been adjusted due to the adoption of IFRS 11 (cf.
    [Show full text]
  • Articles of Association of Thyssenkrupp AG Version of February 18, 2021 3 2
    Articles of Association of thyssenkrupp AG Version of February 18, 2021 3 2 Articles of Association of thyssenkrupp AG I. General Provisions § 1 Name, Registered Office and Formation (1) The name of the Company is “thyssenkrupp AG”. (2) The registered office of the Company is in Duisburg and Essen. (3) The Company was formed by merging former Duisburg-based Thyssen AG and former Essen- and Dortmund- based Fried. Krupp AG Hoesch-Krupp and continues these companies’ business in recognition of their traditions. § 2 Object of the Company (1) The Company manages a group of enterprises whose fields of business include (without being limited thereto) a) production, processing, sale, recycling and disposal of carbon and stainless steel, other steel and other materials, as well as recovery and extraction of raw materials; b) development, design, manufacture and sale of machinery, mechanical plant, components, systems and equipment; c) development, design, manufacture and sale of parts, components and systems for the vehicle industry; d) development, design, construction and operation of industrial plants and facilities of all types; e) trading, logistics, transport and other services in particular in the aforesaid fields of business and in the area of communications; f) acquisition, sale, development and management of real estate. The management includes the allocation of segment headquarters and subsidiaries, the establishment, acquisition and sale of other enterprises, groups of enterprises and investments, and the acquisition of equity interest in other enterprises. (2) The Company is entitled to take any measures and actions connected with the object of the Company or conducive to serving its purposes. It may also directly engage in the fields of business stated in par.
    [Show full text]
  • A Nnual R Ep O Rt
    Insights. About the future. About the future. About change. About us. Insights About change. About us. Annual Report – – 08 09 Annual Report ThyssenKrupp AG August-Thyssen-Strasse Düsseldorf, Germany www.thyssenkrupp.com C2 ThyssenKrupp overview / Our figures / The Group in brief / ThyssenKrupp worldwide / Organizational structure in transition / The new organizational structure / Our business areas / Our new face / Financial dates Annual Report 08 09 ThyssenKrupp AG August-Thyssen-Strasse Düsseldorf, Germany www.thyssenkrupp.com ThyssenKrupp overview 01 / Our figures 02 / The Group in brief 03 / ThyssenKrupp worldwide 04 / Organizational structure in transition 05 / The new organizational structure 06 / Our business areas 07 / Our new face 08 / Financial dates Annual Report 08 09 Our figures 01 2007/2008 2008/2009 Change Change in % Order intake million € 55,205 35,970 (19,235) (35) Sales million € 53,426 40,563 (12,863) (24) EBITDA million € 4,976 192 (4,784) (96) EBIT million € 3,572 (1,663) (5,235) — Earnings before taxes (EBT) million € 3,128 (2,364) (5,492) — Net income/(loss) million € 2,276 (1,873) (4,149) — Earnings per share (EPS) € 4.59 (4.01) (8.60) — Distribution million € 603 139* (464) (77) Dividend per share € 1.30 0.30* (1) (77) ROCE % 18.3 (8,1) (26.4) — ThyssenKrupp Value Added (TKVA) million € 1,916 (3,419) (5,335) — Operating cash flows million € 3,679 3,699 20 1 Cash flows from disposals million € 329 199 (130) (40) Cash flows from investments million € (4,227) (4,236) (9) — Free cash flow million € (219)
    [Show full text]
  • Financial Statements and Management Report Thyssenkrupp AG Financial Year 2010/2011
    Financial Statements and Management Report ThyssenKrupp AG Financial Year 2010/2011 Developing the future. Contents Management report Financial statements 1.1 Profi le and strategy 01 2.1 Statement of fi nancial position 31 1.2 Results of operations 04 2.2 Statement of income 32 1.3 Financial position 07 2.3 Notes 33 1.4 Non-fi nancial performance indicators 10 2.4 Responsibility statement 62 1.5 Subsequent events 11 2.5 Auditors’ report 63 1.6 Expected developments and associated opportunities and risks 11 1.7 Legal information 20 Additional information 3.1 Contact and 2012/2013 dates 64 The business performance of ThyssenKrupp AG as holding company is mainly characterized by the activities of the Group. The management report therefore also refl ects the busi ness situation of the Group, whose accounting system is based on the International Financial Reporting Standards (IFRS). The fi nancial statements of ThyssenKrupp AG were prepared according to the accounting regulations for large incorporated enterprises with the legal form of a stock corporation (Aktien- gesellschaft) under German commercial law including the ge- nerally accepted accounting principles. 1.1 Management report Profile and strategy 01 Profile and strategy ThyssenKrupp is responding to the ever-changing global markets with a sharper profile and focused strategy. Our engineering expertise is the key to future technical and commercial success. Capability profile and organizational structure Capability profile ThyssenKrupp is a diversified industrial group. For us, innovations and technical progress are key factors in managing global growth and the use of finite resources in a sustainable way.
    [Show full text]
  • 2005 – 2006 Financial Statements and Management Report
    2005 – 2006 Financial Statements and Management Report ThyssenKrupp ag Making a Difference together. FINANCIAL STATEMENTS AND MANAGEMENT REPORT Contents 01 CONTENTS 2005–2006 FINANCIAL STATEMENTS AND MANAGEMENT REPORT THYSSENKRUPP AG 01 Contents 02 Management report 02 Business areas and organizational structure 04 Overview of the course of business in the Group 17 Course of business in the segments 35 Innovations 39 Employees 44 Financial position 49 Business management – goals and strategy 58 Compensation report 61 Risk report 67 Subsequent events, opportunities and outlook 72 Financial statements 72 Balance sheet 73 Income statement 74 Notes 86 Auditors’ Report 87 Executive Board 88 Supervisory Board 90 List of equity interests 100 Contact and 2007/2008 dates ThyssenKrupp ag is the parent company of the ThyssenKrupp Group. Responsibility for operating business rests with the segments and Group subsidiaries. Pursuant to § 315a of the German Commercial Code hgb (“Consolidated financial statements according to international accounting standards”), the consolidated financial statements of ThyssenKrupp ag were drawn up in accordance with the International Financial Reporting Standards (ifrs) and the interpretation thereof by the International Accounting Standards Board (iasb) in accordance with Regulation no. 1606/2002 of the European Parliament and Council on the application of international accounting standards in the eu. The consolidated statements are exempting statements pursuant to § 291, subs. 2 hgb. This Management Report contains additional information on the business situation of the ThyssenKrupp Group. 02 BUSINESS AREAS AND ORGANIZATIONAL STRUCTURE Capabilities, organizational structure and management responsibilities are key elements in the success of ThyssenKrupp. They are subject to continual review and adjusted where necessary to meet current requirements.
    [Show full text]