PresentationThyssenKruppGroup December2009€¦ · FY 2008/09: Sales €40.6 bn•EBT €!2.36#...

PresentationThyssenKruppGroup

December2009

SteelEurope

SteelAmericas

StainlessGlobal

MaterialsServices

ElevatorTechnology

Plant�Technology

ComponentsTechnology

MarineSystems

Reorganization

� Strategically�centralized�and�operationally�decentralized

� Greater�internal�and�external�transparency

Elevator

Sales €5.3bn

EBT €558m

Umsatz €14.4bn

EBT €1,540m

Technologies

Sales €10.6bn

EBT €(868)m

Materials Technologies

ThyssenKrupp�AG(from October 1,2009)

Stainless

Umsatz €7.4bn

EBT €126m

Services

Sales €11.9bn

EBT €(271)m

(Inter-segment sales not consolidated)

FY�2008/09:�Sales�€40.6�bn • EBT�€!2.36#�bn • TKVA�€!3.42#�bn • Employees�187,495

ThyssenKrupp�AG

ThyssenKrupp�Business�Services

ThyssenKrupp�GroupNew�organizational structure

Sales €9.9bn

EBT €(486)m

Stainless

Sales €4.5bn

EBT €(946)m

December2009

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�subject�to�risks�and�uncertainties.� Statements�contained�herein�that�

are�not�statements�of�historical�fact�may�be�deemed�to�be�forward-looking�information.��When�we�use�words�such�as�“plan,” “believe,”

“expect,” “anticipate,” “intend,” “estimate,” “may” or�similar�expressions,�we�are�making�forward-looking�statements.��You�should�not�

rely�on�forward-looking�statements�because�they�are�subject�to�a�number�of�assumptions�concerning�future�events,�and�are�subject�to�

a�number�of�uncertainties�and�other�factors,�many�of�which�are�outside�of�our�control,�that�could�cause�actual�results�to�differ

materially�from�those�indicated.��These�factors�include,�but�are not�limited�to,�the�following:

!i#�market�risks:�principally�economic�price�and�volume�developments,�

!ii#�dependence�on�performance�of�major�customers�and�industries,�

!iii#�our�level�of�debt,�management�of�interest�rate�risk�and�hedging�against�commodity�price�risks;

!iv#�costs�associated�with,�and�regulation�relating�to,�our�pension�liabilities�and�healthcare�measures,�

!v#�environmental�protection�and�remediation�of�real�estate�and�associated�with�rising�standards�for�real�estate�environmental�

protection,�

!vi#�volatility�of�steel�prices�and�dependence�on�the�automotive industry,�

!vii#�availability�of�raw�materials;�

!viii#�inflation,�interest�rate�levels�and�fluctuations�in�exchange�rates;�

!ix#�general�economic,�political�and�business�conditions�and�existing�and�future�governmental�regulation;�and��

!x#�the�effects�of�competition.��

Please�note�that�we�disclaim�any�intention�or�obligation�to�update�or�revise�any�forward-looking�statements�whether�as�a�result�of�new�

information,�future�events�or�otherwise.”

December2009

Highlights�FY�2008/09

� Acceleration�of�management�measures�in

Efficiency�– Projects�– Portfolio

� Major�cost�reduction�initiated:

� Reduction�of�structural�overcapacities�across�all�segments

� Restructuring�and�impairment�charges�of�€1,387�m�booked

� Three�consecutive�quarters�with�positive�free�cash�flow�

� Net�debt�€2.06�bn

� Return�to�profitability�in�FY�2009/10

� Dividend�proposal�of�€0.30�per�share

December2009

� Financial�Achievements�and�Group�Performance

� Measures:�Efficiency�Improvement�and�Portfolio�Optimization�

� Segment�Performance

� Outlook�for�Group�and�Business�Areas

Agenda

December2009

Restoring�Basis�for�Future�Value�Creation

Reducing�Complexity�and�Risk

Efficiency

Strengthening�Liquidity�and�Balance�Sheet

Focus�on�Accelerated�Realization�of�Liquidity�and�Value�Potentials

Projects Portfolio

� TK�PLuS:

� €1.8�bn mgmt�gains

� €3.6�bn NWC�release

� < €4.3�bn Capex

� NeO:

� effective�October�1st

� Restructuring�&�Impairments:

� €1.4�bn

Debt�Financing

� €3.7�bnin�2008/09

Equity�Financing

� Adjustment�of�Industrial�Concepts:

� CSA� Steel�USA� Stainless�USA

� cash-driven� market-oriented� maximum�flexibility

� CSA�/�Vale

� Industrial�Services

� TKIN

� Safway

� Xervon stopped

� Marine�Systems

� exit�white�area

� reduction�utilizationrisk�gray�area

� €1.4�bnCSA�/�Vale

December2009

EBT�before�major�nonrecurring�items million�€

FY:��inventory writedownsand�windfall losses€1,154�m

thereof 1€m2:

Q1 Q2 Q3 Q4

Steel 0 33 47 210

Stainl. 264 151 !9# 23

Techn. 6 32 22 35

Elevator 1 0 0 6

Services 67 137 118 11

Earnings�Before�Taxes�

EBT�as�reported� million�€

2008/09

Q1 Q2 FY

2007/08

Q1 Q2 FY

2008/09

Q1 Q2 Q3

2007/08

Q1 Q2 Q3

240!455#

!1,377#

333 !283#

!2,364#

December2009

Segment�Overview�– Quarterly�EBT

million�€ Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY

Steel 353 396 389 402 1,540 251 56 !348# 14452 14862

Stainless !45# 38 93 40 126 !249# !373# !204# 11202 19462

Technologies 179 186 201 175 741 164 !105# !187# 17402 18682

Elevator 119 90 92 133 434 156 146 163 93 558

Services 132 135 248 235 750 30 !78# !123# 11002 12712

Corporate !84# !97# !110# !126# 14172 !108# !103# !87# 1462 13442

Consolidation !8# !6# !4# !28# 1462 !4# 2 14 1192 172

Group 646 742 909 831 3,128 240 14552 17722 11,3772 12,3642

!87# 1332 13312!126# 14172 !108# !103#

2008/09

42 96 48 144before�major�nonrec.�items

Group�before�major�nonrec.�items

before�major�nonrec.�items

before�major�nonrec.�items 132

before�major�nonrec.�items !84#

179 179 710

139 460

917 3,489 14522

2007/08

before�major�nonrec.�items 419 462 534 470 1,885

before�major�nonrec.�items 119 90 112

784 1,073

135 248

!97# !110#

163158 148

335 86

164 !29#

!242# !309#

1172 11762235 750 30 !78#

before�major�nonrec.�items !8# !3# !4# 14 1192 172!28# 1432 !4# 2

December2009

Q1 Q2 Q3 Q4 FY

• Steel: - project costs: !76# !22# !19# !97# !214#

- restructuring: !8# !3# !146# !80# !237#

- impairments: !5# !24# !29#

• Stainless: - project costs: !7# !4# !3# !5# !19#

- restructuring: !60# !60#

- impairments: !60# !48# !10# !118#

• Technologies: - restructuring: !37# !75# !319# !431#

- impairments: !16# !30# !324# !370#

- others: !23# 13 !10#

• Elevator: - restructuring: !2# !2# !28# !32#

- impairments: !2# !2#

• Services: - restructuring: !12# !83# !95#

• Corporate: - restructuring !13# !13#

• Group: - project costs: !83# !26# !22# !102# !233#

- restructuring: !10# !42# !233# !583# !868#

- impairments: !81# !78# !360# !519#

- others: !23# 13 !10#

!2,364#

Q1 172

EBTas�reported

Major�nonrecurring items:€1,630�m

EBTbefore majornonrecurring

FY�2008/09 million�€ Major�nonrecurring�items�2008/09��million�€

Reconciliation�of�EBT�before�Major�Nonrecurring�Items

including €1,154�m�

inventory writedowns�

and�windfall losses

December2009

Net�Financial�Debt

Free�cash�flow:�13382

Capex*Net�financial

debtSep�2008 Net�financial

debtSep�2009

!2,059#

!4,236#

Gearing21.2%

Operatingcash�flow

!1,584#

Gearing13.8%

Divestments

thereof:• Steel 2,593

thereof:TK�CSA� 1,527NAFTA�Steel 608

• Stainless�� 342thereof:NAFTA�Stainless 182

• Technologies 812• Elevator 136• Services 209

Others

Development�of�net�financial�debt in�FY�2008/09 million�€

Dividend�payment**

**�incl.�minorities�of�€47�m

*�Capex for�property,�plant�&�equipment�+�financial�&�intangible�assets

December2009

Long�term- Short�term- Outlookrating rating

Standard�&�Poor’s BB+ B stable

Moody’s Baa3 Prime-3 negative

Fitch BBB- F3 negative

Restoring�/�maintaining�investment�grade�status

with�all�three�rating�agencies�is�key!

ThyssenKrupp�Rating

December2009

Solid�Financial�Situation�– No�Short-Term�Refinancing�Needs

2009/10 2010/11 2011/12 2012/13 2013/14 after2013/14

Available�committed�credit�facilities

Cash�and�cash�equivalents

444963

5,545*

*�incl.�securities�of�€170�million

Total:�7,604

Liquidity�analysis�and�maturity�profile�of�gross�financial�debt�as�of�September�30,�2009 million�€

December2009

� Measures:�Efficiency�Improvement�and�Portfolio�Optimization

Agenda

December2009

Efficiency�Improvement�– Restructuring�Measures

Q4 FY�2008/09

ImpairmentsRestructuring�charges

Steel,�mainly:

•MetalForming

• Color/Construction

Stainless,�mainly:

• Nirosta

• AST(Italy)

Technologies,�mainly:

• Forging Group

•Waupaca

•MarineSystems

Elevator,�mainly:

• Escalators

Hamburg

Services,�mainly:

•MaterialServices

International

(Europeansite

consolidation)

104 1060

Corporate2

360 583

million €

Q3Q2Q1

December2009

Efficiency�Improvement�– Management�Gains

Stainless

Techno-logies

Services

CorporateRealized�management�gains�by�segment��

Corporate

~�€1.8�bn

� Based on�existing

restructuring

measures/

initiatives

� Excluding effects

from portfolio

optimization

Realized�management�gains�billion�€

Sustainable�targeted�management�gains��billion�€

~�1.8

~�1.0

~�0.8

FY�2008/09

1.5�– 2.0

FY�2010/11E

sustainable

December2009

Strategic�rationaleSales�volumeMeasure

� Exit�from�civil�shipbuilding�and�significant�reduction�of�utilization��risk�at�naval�shipbuilding

SIAG�Schaaf !Emden#

Abu�Dhabi�Mar�!Hamburg#

� Best�owner

Focus�on�core�activities�in��

Materials�Services

€330�m

$715�m

Sale�of�TK�Industrieservice

Sale�of�TK�Safway

Sale�of�TK�Xervon

� Tightening�of�relationship�with�ValeSale�of�CSA�stake�to�Vale

Portfolio�Optimization�Overview

signed

stopped

Value�crystallization��Complexity�and�risk�reduction��Cash�generation

Further�divestments�as�soon�as�M&A�market�recovers

~�€500�m

closed

December2009

Agenda

December2009

Steel�

FY�2008/09�Highlights

Comments�Q4�2008/09

� Improving�orders,�shipments�and�capacity�utilization

� Lower�average�revenues�per�ton

� €210�m�inventory�writedowns/windfall�losses

� €201�m�major�nonrecurring�items�in�Q4�!project�costs,�restructuring�and�impairment�charges#

EBT�in�€m

Q1 Q2 Q3� Q4 Q1

2007/08 2008/09

Order�intake�in�€m

3,188 3,986 3,765 3,260 2,036

Current�trading�conditions

EBT�reportedMajor�nonrecurring itemsEBT�before major nonrecurring items

� Further�stabilization�of�volumes�and�capacity�utilization

� Price�increases�for�shorter-term�business�implemented

� Restart�of�blast�furnace�9�on�November�1,�2009

� European�inventories�at�low�levels

December2009

875 912 914

277 241 291

932 845 915 929

307284

281 245

812540

709416

Steel:�Output,�Shipments�and�Revenues�per�Metric�Ton

Fiscal�year

2004/05 2005/06

2007/08

319 334

827822

Fiscal�year

2004/05 2005/06

Cold-rolledHot-rolled

1,0761,161 1,171

338 388 337395

767872

2007/08

141160

133114

116136129

111133

118118138

123115134

2007/08

2005/06

Q2 Q3 Q4Q1

2004/05

Q2 Q3 Q4 Q1

2006/07

Q2 Q3 Q4 Q1

1,1291,260

2006/07

2008/09

2006/07 Q1

2008/09

HKM�share

Crude�steel�output�1incl.�share�in�HKM2 1,000�t/month Shipments:�Hot-rolled�and�cold-rolled�products 1,000�t/month

Average�revenues�per�ton,�indexed Q1�2004/2005�=�100

December2009

InventoriesChina

Inventories�and�Months�of�Supply�- Europe

Inventories�and�Months�of�Supply�- USA

Steel:�Inventories�and�Months�of�Supply

Source(s):TKS,EASSC,MAR,MSCI,UBS,MySteel

Europe:EuropeanSSC:Inventories at

month end/flat carbon steel w/oquarto

InventoriesGm�tH

MOSGmonthsH

USA:October MSCIinventories,carbon flat rolled

InventoriesGm�stH

MOSGmonthsH

China:flat steelinventoryin23majorcities

(HR,CRandPlate)

InventoriesGm�tH

A�07

J�07

O�07

J�08

A�08

J�08

O�08

J�09

A�09

J�09

O�09

J�10

December2009

NAFTAEurope

Steel�USA

Duisburg

BA�Steel�EuropeBA�Steel�Americas

SoP Hot�Strip�Mill Q2�2010

Split�Ramp-UpSoP Blast�Furnace #1:� Q2�2010SoP Blast�Furnace #2:� Q4�2011

SoP Converter /�Continuous Caster mid 2010

Temporary De-Coupling of�Ramp-Up of�CSA�and�Steel�USA

Q12010

2mid2010

3Q22011

Temporary slab supply ex�Duisburgto�support ramp-up at�Steel�USA

Temporary slab supply ex�CSA�to�Europe�

CSA�taking over slab supply of�Steel�USA

December2009

Sales�by�Industry�FY�2008/09 in�%

Quarterly

Half-year

Annual�&>1�year

Premium�Flat�Carbon�Steel�Multiple�Niche�Strategy

Others Automotive�industry�1incl.�suppliers2Construction

Packaging

Mechanical�Engineering

Steel�and�steel-related�processing

Sales�by�Maturity�FY�2008/09 in�% Price�index Index�!Q3�1997�=�100#

Alldataincl.Q32009

Sources:CRUandowncalculationsbasedonCRU,TKS

ThyssenKruppSteel

Price�index flat carbon steel ThyssenKrupp�Steel�

Price�index flat carbon steel,�global�market 1CRU2

98 00 02 04 06 08 09

December2009

Industrial�Cost�Curve�2012Hot-Rolling�Capacities,�NAFTA USD/t;mt/yr

Ø cash�costHRC�NAFTA

Transatlantic�Strategy�Based�on�Optimum�Cost-Quality�Position

hot-rollingcapacities Um�t/yrV0 10 20 30 40 9050 60 70 80

cash�cost HRCTK�BA�SteelAmericas

Costcompetitiveness

Margin opportunity!

Premium�quality &technology�leadership

Ø pricesNAFTA

Ø pricesTK�BA�SteelAmericas

� ThyssenKrupp�Business�AreaSteel�Americas�with

� strong�cost and�

� quality position

� Even�based on�conservativeassumptions:

� slow market recovery and�ramp-up

� current raw material�and�steel prices

� Significant margin and�valueopportunity for the Group

December2009

Stainless

EBT�in�€m

Q1 Q2 Q3� Q4 Q1

2007/08 2008/09

2,150 2,001 1,732 1,577 966

1242213732 13092

12042 11532

1,2077

11202 1452

Q2Q1 Q3 Q4

19462 17492

� Stable�development�of�order�intake�and�increase�in�shipments�

� Steady�increase�in�base�prices�and�alloy�surcharges

� €75�m�major�nonrecurring�items�in�Q4�!project�costs,�restructuring�and�impairment�charges#

� Slower�demand�development

� Inventories�to�remain�at�a�moderate�level

� Imports�from�Asia�still�at�a�relatively�low�level

December2009

Shipments*:�Hot-rolled�and�cold-rolled�products 1,000�t/monthCrude�steel�output* 1,000�t/month

Stainless:�Output,�Shipments�and�Revenues�per�Metric�Ton

Q1Fiscal�year

2005/062007/08

*�including�carbon,�forging,�Ni-Alloys

208 42

147 142

Fiscal�year

2005/062007/08

2006/07 Q2

Hot-rolled,�including�slabsCold-rolled,�including�precision�strip

189170

137158 141 134

2008/09

9877 70

2007/08

2005/06

Q2 Q3 Q4Q1

2004/05

Q2 Q3 Q4 Q1

2006/07

Q2 Q3 Q4 Q1

175158

2006/07

2008/09

Q1 Q2 Q3

125109

2008/09

Average�transaction�price�per�ton,�indexed Q1�2004/2005�=�100

*�not�consolidated

197177

December2009

Stainless:�Market�Situation

Source:MSCIOctober2009;hot- andcold-rolledmaterialallshapes

Stock�level:�INDEX�Jan�2005�=�100Stock�Reach:�Calendar Days

Average�Stock�Reach

Jan-05 Jul Jan-06 Jul Jan-07 Jul Jan-08 Jul Jan-09 July

Stock�Level

Stock�Reach

Source:EHVNovember2009

Germany�1cold-rolled products2 USA�1hot- and�cold-rolled products all�shapes2

Stock�level:�INDEX�Jan�2005�=�100Stock�Reach:�Calendar Days

Average�Stock�Reach

Jan-05 Jul Jan-06 Jul Jan-07 Jul Jan-08 Jul Jan-09 July

Stock�Level

Stock�Reach

Sep Sep

December2009

Stainless:�Restructuring�Market�Volatility�Requires�Flexible�Cost�Base

European�cold-rolling production of�TK�Stainless 1quarter2 U000tV

2006 2007 2008 2009

Flexibilization of�labor utilization

Flexibilization of�cost

100%�capacity utilization

80%�capacity utilization

Technicalcapacity

100%Flexibilization

Labor�costs� Labortimeaccounts

� external service

provider

Worst�Case:� short-time

working

employment*1FTE####

*�Full-time equivalent !FTE#

December2009

Technologies

EBT�in�€m

Q1 Q2 Q3� Q4 Q1

2007/08 2008/09

3,212 3,108 3,397 3,773 4,897

11052 1292

7617402 1972

Impact�of�major�cancellations�at�Marine�Systems�!container�ships,�mega�yachts,�submarines�Greece#

~100 ~500

11872 1952

� EBT�strongly�affected�by�restructuring�!€319�m#�and�impairment�charges�!€324�m#

� Restructuring�measures�&�capacity�adjustments�at>100�locations;�closures�initiated�at�11�production�sites

� Ongoing�solid�performance�at�Plant�Technology,�naval�shipbuilding�and�wind�energy�business

Q2Q1 Q3 Q4

18682 1572

~1,000

� Plant�Technology�with�ongoing�positive�earnings,�project�pipeline�filled�!mainly�cement�and�mining�equipment#

� First�positive�signs�in�automotive�business,�but�mainly�driven�by�government�programs

� Marine�Systems�with�improvement�in�earnings�as�soon�as�implementation�of�new�industrial�concept�is�completed

December2009

Heavy�CommercialVehicles

Earth-movingEquipment

Automotive Infrastructure�and�Energy

Volume

Presta�Camshafts

Presta�Steering

Bilstein-Gruppe

Forging�Group

Waupaca

Presta�Camshafts

Presta�Steering

Bilstein-Gruppe

Forging�Group

Waupaca

Forging�Group

Waupaca

Rothe�Erde

Wind�EnergyEquipment

Plant�Technology�&�Components�Technology:All�relevant�industries�affected�with�different�recovery�scenarios

Passenger�Cars/�Light�Comm.�Veh.

Cement,Minerals,�Mining

Plant�Engineering

Chemical�Plants

Volume

System�Engineering

Volume

Polysius

Fördertechnik

Volume

Plant�Technology:Sales�€4,450�m;�EBT�€236�m�1#

Components�Technology:�Sales�€4,603�m;�EBT�€!458#�m�2#

1)incl.restructuringcharges€(39)m

andimpairments€(7)m

2) incl.restructuringcharges€(165)m,

impairments€(156)mandothers€2m

Volume

December2009

50%ThyssenKrupp!Engineering#

20%�ThyssenKrupp

80%Abu�Dhabi�MAR

20%ThyssenKrupp

50%Abu�Dhabi�MAR

Mega Yachts

Shipyards)

Service

Repair)

Components

Industries)

NavalSubmarines

NavalSurface

Mega Yachts Container

Kockums HSY

100%ThyssenKrupp

!Engineering�&�Construction#

Submarines

Container

Blohm�+�Voss�Shipyards &�Services!BVSS#

Blohm�+�Voss�Nordseewerke!BVN#

Howaldtswerke Deutsche�Werft!HDW#�

HamburgHamburg�Kiel Emden

Marine�Systems:�Planned�Target�StructureExit�From�Civil�Shipbuilding;�Focus�on�Naval�Engineering�and�Submarines

• Related charges:�Restructuring €227�m�!Q4:�163#;�Impairments €207�m�!Q4:�174#• Targeted workforce reduction of�60% to�~�3,500�!from ~8,300�as�of�Sep.�30,�2008#

December2009

Elevator�

EBT�in�€m

Q1 Q2 Q3� Q4 Q1

2007/08 2008/09

1,466 1,464 1,324 1,281 1,562

2158 146 148

� Stable�development�of�order�intake�and�sales�despite�further�weakening�of�new�installation�business�

� EBT�impacted�by�restructuring�charges�!€28�m#

� Strong�service�activities

Q2Q1 Q3 Q4

� New�installation�business�still�at�a�lower�level

� Ongoing�stable�service�activities

� Further�efficiency�improvement�measures

December2009

New�Infrastructure�Orders�!I#Metro�Lines�and�Airports

Mod Baku,�Azerbaijan 6 escalators

NI Rome,�Italy 41 elevators88 escalators

NI� Cairo,�Egypt 13 elevators64� escalators

NI Chongqing,�China 87 escalators

NI Sao�Paulo,�Brazil 65 escalators

Mod Madrid,�Spain 181 escalators

NI Doha,�Qatar��87 passengerboarding�bridges

NI =�New�installation Mod =�Modernization

Madrid

Rome,�Line�C

Sao�Paulo,�Linha Verde

Chongqing,�Line�3

Doha Egypt

FY�2008/09

December2009

NI Madinaty/Al�Rehab 584 elevatorsCairo,�Egypt

NI PalaisQuartier 48 elevatorsFrankfurt,�Germany� !incl.�1�TWIN#�

28�escalators

NI Deutsche�Börse 15 elevatorsEschborn,�Germany

NI University�of�Kentucky 24 elevatorsLexington,�USA

NI Latifa Tower 19 elevatorsDubai,�UAE�� !incl.�2�TWINs#

NI Seo-Myeon Residential 55 elevatorsBusan,�South�Korea 13 escalators

New Infrastructure Orders�!II#Buildings

PalaisQuartier,�Frankfurt,�Germany

NI =�New�installation

FY�2008/09

December2009

Services

EBT�in�€m

Q1 Q2 Q3� Q4 Q1

2007/08 2008/09

3,951 4,322 4,677 4,503 3,746

11002 1172

� Stabilization�of�volumes�and�prices�at�a�low�level

� EBT�affected�by�restructuring�charges�!€83�m#

� Sale�of�TKIN�to�Wisag in�October�2009

Q2Q1 Q3 Q4

12712 11762

� Stabilization�of�volumes�and�prices�

� Inventory�reduction�at�customers�mainly�completed

� Customers�placing�orders�in�smaller�volumes�but�more�frequently

December2009

10,000

20,000

30,000

40,000

O N D J F M A M J J A SO N D J F M A M J J A S

07/08 08/09 09/10

N D J F M A M J J A SOOOO

18,520

31,217

O NNNN D J F M A M J J A S

08/09 09/10

2,5002,305

Stainless�cold-rolled�sheetsincl.�alloy�surcharge

Delta12,697

Delta2,033

Nickel��US$/t�!monthly average#

07/08 08/09 09/10

O N D J F M A M J J A S N D J F M A M J J A SO N D J F M A M J J A S OOOO

Sections /�broad flanged beamCold rolled sheetsGalvanized sheets

Quarto�plates !R37-2#

07/08 09/1008/09

OOOO N D J F M A M J J A S

Freight�rate�China�ARA

Coke,�FOB�China

Coke,�Freight rate�China��US$/t

Rolled Steel� €/t Stainless Steel��€/t

Services:�Price�Developments

December2009

Agenda

December2009

Outlook�FY�2009/10�– Group�

Low�three-digit�million�€ positive,incl.projectcosts,startuplosses,depreciationandinterestexpensesof

Americasprojects1mid-range�three-digit�million�€2Adjusted EBT

Sales Moderate�stabilization

Significant�improvement�in�earnings,�despite�negative�impact�of�Americas�projects:��

Adjusted EBITHigh�three-digit�million�€ positive,incl.projectcosts,startuplossesanddepreciation

ofAmericasprojects

December2009

Reconciliation�of�EBT�2008/09

Elevator�Technology�!ET#

Plant�Technology�!PT#

Marine�Systems�!MS#

Components�Technology�!CT#

Internal�reallocationof�interest�andadmin.�expenses

EBTas�reported�after�internalreallocation*

Steel�Europe�!SE#

Steel�Americas�!AM#

Materials�Services�!MX#

Stainless�Global�!SL#

Corporate�/�Consolidation

EBTas�reported

before�internal�reallocation

*comparablebasisforreportinginFY2009/10(preliminarynumbers)

EBTbef.�mjr nr�itemsand�before�internal�

reallocation

December2009

Outlook�FY�2009/10�– Business�Areas�!I#

€9,570�m

€0�m

€4,486�m

€12,815�m

Sales*

€!197#�m

€!216#�m

€!926#�m

€!295#�m

EBT�as�reported*

Improvement�in�volumes�and�capacity�utilization�with�average�revenues�per�ton�below�prior-year�level

Negative�EBT�contribution�!mid-range�three-digit�million�€#�due�to�project�costs�and�startup�losses�for�the�steelmaking�and�processing�plants�in�Brazil�and�the�USA

Stabilization�of�volumes�with�improved�base�prices

Stabilization�of�volumes�and�revenues

Outlook�FY�2009/10FY�2008/09

Steel�Europe�!SE#

Steel�Americas�!AM#

Materials�Services�!MX#

Stainless�Global�!SL#

December2009

Outlook�FY�2009/10�– Business�Areas�!II#

Continued�high�earnings�contributions�thanks�to�strong�order�backlog�and�stable�modernization�and�maintenance�business

Good�revenues�and�earnings�expected�from�project�business�due�to�order�backlog�with�good�earnings�quality

Continued�difficult�environment�for�automotive�and�construction�machinery�supplies,�positive�earnings�contribution�from�slewing�bearings�for�the�wind�energy�sector

Improved�earnings�quality�through�initiated�consolidation�of�shipyard�sites

€5,308�m

€4,450�m

€4,603�m

€1,594�m

€570�m

€236�m

€!458#�m

€!554#�m

Outlook�FY�2009/10FY�2008/09

Sales* EBT�as�reported*

ElevatorTechnology�

PlantTechnology�

MarineSystems�!MS#

ComponentsTechnology�

December2009

The Way�Forward�to�Sustainable Value Creation

LiquidityProfitability

EBT�>�0

Value Creation

TKVA�and�FCF�>�0

� Operating�cash�flow:�€3.7�bn

� Capex reduction:<�€4.3�bn spent

� €3�bn bonds�issued

� Increase�of�Vale�stake�in�CSA�to�26.87%�!from�10%#�for�€965�m

� Divestments�at�Industrial�Services

� Reduction�of�riskthrough�realized�asset�impairments

� New�industrial�conceptat�Marine�Systems

� Execution�of�restructuring�measures�and�realization�of�sustainable�cost�savings:�€1.5�- €2.0�bntargeted�in�FY�2010/11

� Growth�investments�of~�€2.5�bn in�FY�2009/10

� Startup�of�Steel�&�Stainless�Americas�with�high�degree�of�flexibility

� Constant�review�of�portfolio

� Increased�external�transparency�and�benchmarking

� Continuous�optimization�of�cost�base

� Focus�on�FCF�generation

FY�2009/10 FY�2010/11�et�seq.FY�2008/09

December2009

� January�21,�2010 Annual�General�Meeting,�Bochum/Germany

� February�12,�2010 Interim�Report�1st�quarter�2009/10�!Oct�to�Dec#

Conference�Call�with�analysts�and�investors

� May�12,�2010 Interim�Report�1st�half�2009/10�!Oct�to�Mar#

� August�13,�2010 Interim�Report�9�months�2009/10�!Oct�to�Jun#

� November�30,�2010 Analysts’ and�Investors’ Conference

Annual�Press�Conference

Financial�Calendar�– 2009/2010

December2009

How�to�Contact�ThyssenKrupp�AG�Investor�Relations

Institutional�Investors�and Analysts:

� Phone:�+49�211�824-36464�

� Fax:�+49�211�824-36467

� E-mail:�ir@thyssenkrupp.com

� Internet:�www.thyssenkrupp.com

To�be�added�to�the�IR�mailing�list,�send�us�a�brief�e-mail�with�your�

details!

December2009

� Appendix

Agenda

December2009

Q1 Q2 Q3 Q4 FY Q1 Q2 Q3 Q4 FY

Order�intake €m 13,270 14,084 14,181 13,670 55,205 12,887 7,642 7,926 7,515 35,970

Sales €m 12,270 13,199 14,181 13,776 53,426 11,522 9,859 9,299 9,883 40,563

EBITDA €m 1,083 1,197 1,366 1,330 4,976 764 142 !180# !534#�� 192

EBIT� €m 748 849 1,019 956 3,572 407 !276# !597# !1,197# 11,6632

EBT €m 646 742 909 831 3,128 240 !455# !772# !1,377# 12,3642

Net�income €m 435 502 613 726 2,276 163 !362# !630# !1,044# 11,8732

Earnings�per�share € 0.85 1.00 1.21 1.53 4.59 0.36 ��!0.71# !1.38# !2.28# 14.012

TK�Value�Added €m 353 438 600 525 1,916 !39# !734# !1,030# !1,616# 13,4192

ROCE % 16.1 16.9 18.2 18.3 18.3 7.8 1.2 !3.0# !8.1# 18.12

Capital�Employed €m 18,581 18,955 19,211 19,478 19,478 21,025 21,270 20,975 20,662 20,662

Goodwill €m 3,791 3,755 3,779 3,858 3,858 3,846 3,942 3,927 3,902 3,902

2007/08 2008/09

Group�Overview�!I#

ROCE�based on�3,�6,�9�and�12�months

December2009

Group�Overview�!II#

Capital�expenditures* €m 889 1,014 975 1,349 4,227 1,105 1,090 898 1,143 4,236

Depreciation/amort. €m 335 349 346 374 1,404 357 418 417 663 1,854

Operating�cash�flow €m !170# 1,003 676 2,170 3,679 !860# 1,483 1,331 1,745 3,699

+�Cash�flow�from�divestm. €m 40 80 107 102 329 106 26 57 10 199

-�Cash�flow�from�investm. €m 889 1,014 975 1,349 4,227 1,105 1,090 898 1,143 4,236

Free�cash�flow €m !1,018# 68 !192# 923 12192 !1,859# 419 490 612 13382

Cash�and�cash�

equivalents��!incl.�short-term�securities#

€m 2,612 2,130 2,882 2,832 2,832 3,439 3,820 5,235 5,545 5,545

Net�financial�debt €m 859 1,988 2,127 1,584 1,584 3,514 3,687 3,122 2,059 2,059

Employees� 193,137 195,828 198,033 199,374 199,374 197,175 192,521 188,501 187,495 187,495

2007/08 2008/09

*�incl.�financial�investments

December2009

34.0% 2.2%

Balance�Sheet�Structure

Equity

Net�financialposition

18.42%

Sep�2006Sep�2005Sep�2004Sep�2003

!747#*

10,447

!223#*

Sep�2008

12.12%

Sep�2007

11,489

25.4% 26.7% 22.1% 24.5% 27.4% 27.6% Equity�ratio

Gearing

*�Net�financial�receivablesSep�2009

Net�financial�position,�equity�and�ratios million�€

December2009

Order�intake €m 3,188 3,986 3,765 3,260 14,199 2,036 1,651 2,321 2,406 8,414

Sales €m 3,214 3,639 3,902 3,603 14,358 2,925 2,405 2,272 2,343 9,945

EBITDA €m 561 599 587 599 2,346 475 255 !144# !196# 390

EBIT� €m 392 434 426 448 1,700 309 103 !295# !367# 12502

EBT €m 353 396 389 402 1,540 251 56 !348# !445# 14862

TK�Value�Added €m 236 263 246 262 1,007 107 !121# !522# !593# 11,1292

ROCE % 22.6 22.8 22.2 22.1 22.1 13.7 8.7 1.6 !2.6# 12.62

OCF €m !330# 352 555 908 1,485 !779# 223 586 617 647

+�CF�from�divestm. €m !3# 25 !31# 89 80 !1# 20 !7# 10 40

−�CF�for�investm. €m 632 577 533 878 2,620 714 563 572 726 2,593

FCF €m !965# !200# !9# 119 11,0552 !1,494# !320# 7 !99# 11,9062

39,922 40,636 40,733 41,311 41,311 40,753 40,071 39,321 39,156 39,156Employees��

2008/09��2007/08

Steel:�Segment�Overview

December2009

TK�CSA:�One�of�the�Most�Cost-Efficient�Slab�Plants�in�the�World

Industrial�Cost�Curve�2012Slab�Capacities,�Brazil

Industrial�Cost�Curve�2012Global�Slab�Capacities

slab capacities Um�t/yrV

cashcost

UUSD/tV

Sources:�WSD;�VDEh Plantfacts;�Global�Insight;�MBR;�Metal�Expert;�SBB;�McKinsey;�own analysis

vertically integrated steel plants !ore and�/�or coal#

ThyssenKruppCSA

0 10 20 30 40 50 1,0000 500

slab capacities Um�t/yrV

cashcost

UUSD/tV

December2009

Endof�projectphase

CSA:�Split�Ramp-Up Maximizes Flexible�Response�to�Market�Changes

TK�CSA:

Ramp-Up

Um�tVslab production

run-rate

Line�#1

Line�#2

2010 2011 2012

Ramp-Up

by Key

Facilities

Converter/Cont.�Caster

HSMTKS�USA

Q1Q4Q3 Q2Q2 Q1Q4Q3Q2Q1

ReadyStart

Ready Start

Ready StartStart

ReadyStart

Ready StartStart

potential�market-oriented upside

December2009

Competitive�Advantage�– Example:�Technology�of�Hot�Strip�Mill

Head-to-Head�Comparison�of�US�Hot�Strip�Mills

#�Stands

WidthJinchK

ThicknessJinchK

676460

ThyssenKrupp�Steel�USA

e.g.,�superior defect

free surface and�

more consistent

mechanical properties

e.g.,�large�diameter

pipe requirements

e.g.,�coiled plate

market entry

Best�in�Class

December2009

Order�intake €m 2,150 2,001 1,732 1,577 7,460 966 819 1,207 1,155 4,147

Sales €m 1,838 1,955 1,933 1,694 7,420 1,173 988 1,030 1,295 4,486

EBITDA €m 8 98 154 103 363 !189# !251# !98# !62# 16002

EBIT� €m !23# 60 115 62 214 !228# !351# !185# !100# 18642

EBT €m !45# 38 93 40 126 !249# !373# !204# !120# 19462

TK�Value�Added €m !107# !23# 31 !20# 11192 !310# !428# !254# !164# 11,1562

ROCE % !2.4# 2.0 5.4 5.8 5.8 !25.1# !32.7# !30.2# !26.7# 126.72

OCF €m !169# 243 119 365 558 !325# 256 119 178 228

+�CF�from�divestm. €m 3 2 0 20 25 2 2 5 !3# 6

−�CF�for�investm. €m 47 168 60 113 388 92 46 79 125 342

FCF €m !213# 77 59 272 195 !415# 212 45 51 11072

12,075 12,042 12,037 12,212 12,212 12,167 12,079 11,869 11,755 11,755Employees��

2008/09��2007/08

Stainless:�Segment�Overview

Stainless

December2009

Stainless�Steel�Sales�by�Customer�Group Stainless�Steel�Contract�Structure

0% 10% 20% 30% 40% 50%

Short�Term�Contracts+<0.5�year-

Medium�Term�Contracts+0.5�– 1�year-

Long�Term�Contracts+>�1�year-

basedonThyssenKruppNirostaShipments2008/09

Nickel�Alloy�Sales�by�Customer�Group

Increasing Non-Volatile Customer BasesSales�structure within ThyssenKrupp�Stainless

basedonshipments,FY2008/09

Others

SSC/Trading

Automotive

Household�Applications

Metal�Processing

White�Goods8

Distribution

Oil/�Gas

Aerospace/Turbines

Electronics

Chemical/Energy

Automotive

basedonnetsales,FY2008/09

December2009

20.219.918.919.317.122.520.2

Jan�09

Asia Americas Others

Stainless:�Price�Development and�Import�Situation

Jan-05 Jan-06 Jan-07 Jan-08 Jan-09

Europe

Source:Eurofer November2009,TKSLVV-BDG

Jan-06

Jul Jan-07

Jul Jan-08

Jul Jan-09

10,000

15,000

20,000

25,000

30,000

35,000

40,000

45,000

50,000

55,000

*�Base PriceGermany,Traders/SSC,304,2mmsheet

Source:CRUNovember2009,Metalprices(NICKEL)November2009

EUR/t US$/t

Base�Price�EU*

Alloy Surcharge EU

Nickel

*AISI304(1.4301)CRFlat,2mm

Source:CRUNovember2009(EU+USA),TKL-SKSNovember2009(WuxiMarketpricesCHINA)

Price�development:�recovery�gaining�sustainability Cold-rolled imports from third countries U000t/MonthV

Regional�price development*

December2009

Cash- and�Market-Oriented�Adjustments�with�Maximum�Flexibility!

Ramp-Up�Curve�of�Cold-Rolled�Shipments�and�Melt�Shop 1,000t/quarter � Cash- and�market-oriented�Ramp-up�of�Stainless�USA

� SoP 1st�CRM�in�calendar�Q4�2010

� installation�of�equipment�well�advanced

� >50%�of�shipments�via�TK�internal�SSC

� tapping�into�the�60”+�segment

� SoP Meltshop calendar�Q1�2014

� further�postponement�by�2�yrs

� Maximum�built-in�flexibility

� continuous�monitoring�of�market�recovery

� flexible�acceleration�of�ramp-up�possible�at�any�time

2009/10 2010/11 2011/12 2012/13 2013/14

Cold-rolled�capacity:�~�350,000�t/year

Melt�shop�capacity:�~�900,000�t/year

PlanFeb ‘09

PlanFeb ‘09 New�Base�CaseSep ‘09

New�Base�CaseSep ‘09

market-oriented upside

1,000�t/quarter

Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4

December2009

Order�intake €m 3,212 3,108 3,397 3,773 13,490 4,897 1,723 1,367 593 8,580

Sales €m 2,822 3,029 3,357 3,204 12,412 2,921 2,656 2,483 2,580 10,640

EBITDA €m 256 261 272 257 1,046 245 5 !55# !333# 11382

EBIT� €m 170 178 188 142 678 154 !99# !173# !718# 18362

EBT €m 179 186 201 175 741 164 !105# !187# !740# 18682

TK�Value�Added €m 127 135 145 95 502 100 !158# !229# !764# 11,0512

ROCE % 28.9 29.6 29.8 27.6 27.6 22.5 5.0 !4.6# !31.1# 131.12

OCF €m 22 326 117 201 666 !113# 267 49 165 368

+�CF�from�divestm. €m 46 118 36 51 251 18 43 36 !43#�� 53

−�CF�for�investm. €m 160 171 153 278 762 173 361 149 130 812

FCF €m !91# 272 0 !26# 155 !268# !52# !64# !7# 13922

55,567 53,637 54,334 54,043 54,043 53,167 50,978 49,349 49,056 49,056Employees��

2008/092007/08

Technologies:�Segment�Overview

Technologies

December2009

Fertilizer�(Ammonia&Urea)

Plant�Technology:�Excellent Market�Positions !Selected Examples#

Electrolysis�(Chlorine,Sodiumhydroxide)

No.�1Uhde No.�1 Uhde

Polymers�(PVC,HDPE,PET)

No.�2

Coke�plant�technologies(Cokeovenbatteries)

Polysius

Cement�production

No.�3Uhde No.�1 Fördertechnik

Mining�and

Material�Handling�

No.�1

December2009

Uhde:�Focus�on�Plastics�

Above�average�growth�for�plastics�in�growth�regions�expected

� Expected�growth�rate�of�per-capita�consumption:�~�5%�p.a.�until�2015

� Over�80%�of�plastics�are�PVC,�polypropylen,�polyethylen and�polyester�which�are�part�of�Uhde’s technology�portfolio

� Uhde developing�technologies�for�“plastics�of�tomorrow”,�based�on�renewable�raw�materials

Source:�Plastic Europe�Deutschland,�WG�Statistics and�Market�Research�2005�

Vinyl chloride (VCM) Polyvinyl chloride

Polyethylene LLD, LD, HD

Polypropylene

Polyester

PET, PBT

Ethylene dichlorideSalt Chlorine

Toluene

Benzene

p-xylene

o-xylene m-xylene

Caustic soda

Propylene oxide

Polyamide (Nylon)

Polylactic acid

Ethylene

Propylene

18 26 26

4045 10823 950

252010

100124129

North�America Western�Europe Japan Africa/Middle

Eastern�Europe Asia Latin�America Worldwide

1980 2004 2010

Per-capita consumption of�plastics !in�kg#

Consumption of�plastics !in�million t�pa#

December2009

Naval�Shipbuilding:�Leading�Market�Positions�and�Technologies

~�40%

Track�Record

Modern�Propul-sion

� Gas�turbines�and�waterjets�for�powerful�propulsion

� Acceleration�to�>�30�knots� „Crash�stop“ !3�ship�lenghts#

MEKO®

design�concept

� Configuration�andMission�Modularity

� Fast�exchange�of�mission�capabilities

Stealth

� Almost�impossible�to�locate� Additional�reflectorsneeded�for�normalmaritime�traffic

Naval�surface�vesselsMarketsize:~€3bn

~�60%

Non-nuclear�submarinesMarketsize:~€1.5bn

� Inthepast50years

- morethan240�naval�vessels�(frigates,corvettes,specialvessels)builtfor20countries

- morethan 180�submarines builtfor17countries

� Latest�large�orders !FY�2008/09#:

� Submarine�material�packages�for�South�Korea�and�Italy�!total�volume�~�€1.8�bn#

Fuel�cell�techno-logy

� Air-independent�propulsion�system� Submerged�time�4-5�xgreater�than�withcommon�battery�operation

Market�share�ThyssenKrupp�Marine�Systems Technology�Leadership

December2009

Rothe�Erde:�Expansion�Strategy

2008 2009 2010 2011 2012 2013

6.210.5

2008 2009 2010 2011 2012 2013

GW GW GW GW

Market�outlook for wind�energy +annual growth�in�GW�according to�BTM-Study 2009-�

BTM�=�Birger T.�Madsen,�Consult�Danish�Energy�Agency

North�America Europe Asia thereof China

Rothe�Erde�production capacities and�expansion strategy

Existingproduction�capacities

Capacity�expansion

North�America Europe Asia thereof China

December2009

Order�intake €m 1,466 1,464 1,324 1,281 5,535 1,562 1,189 1,186 1,101 5,038

Sales €m 1,184 1,164 1,211 1,371 4,930 1,343 1,293 1,328 1,344 5,308

EBITDA €m 134 112 113 150 509 173 164 183 117 637

EBIT� €m 126 94 98 132 450 157 148 167 96 568

EBT €m 119 90 92 133 434 156 146 163 93 558

TK�Value�Added €m 89 60 66 99 314 124 116 136 67 443

ROCE % 27.6 24.7 24.7 26.5 26.5 38.1 37.2 39.4 36.5 36.5

OCF €m 49 196 131 149 525 72 287 167 217 742

+�CF�from�divestm. €m 2 !1# 1 6 8 9 4 2 3 19

−�CF�for�investm. €m 17 35 49 31 132 33 36 18 47 136

FCF €m 34 160 83 124 401 48 254 151 172 626

40,191 40,873 42,108 42,992 42,992 43,599 43,306 42,761 42,698 42,698Employees��

2008/092007/08

Elevator:�Segment�Overview

Elevator

December2009

Order�intake €m 3,951 4,322 4,677 4,503 17,453 3,746 2,514 2,256 2,650 11,166

Sales €m 3,867 4,232 4,603 4,634 17,336 3,726 2,903 2,539 2,728 11,896

EBITDA €m 190 195 306 297 988 94 !21# !62# !41# 1302

EBIT� €m 153 156 268 257 834 54 !60# !101# !80# 11872

EBT €m 132 135 248 235 750 30 !78# !123# !100# 12712

TK�Value�Added €m 79 75 183 171 508 !29# !143# !173# !145# 14902

ROCE % 17.5 16.9 20.4 21.7 21.7 5.5 !0.3# !3.8# !5.3# 15.32

OCF €m !421# 115 !80# 579 193 !221# 205 326 495 805

+�CF�from�divestm. €m 12 10 29 20 71 38 4 12 7 60

−�CF�for�investm. €m 70 169 55 75 369 68 57 45 41 209

FCF €m !479# !44# !106# 524 11052 !251# 151 293 462 656

43,054 46,318 46,506 46,486 46,486 45,173 44,512 43,620 43,235 43,235Employees��

2008/092007/08

Services:�Segment�Overview

Services

December2009

Order�intake €m !697# !797# !714# !724# 12,9322 !320# !254# !411# !390# 11,3752

Sales €m !655# !820# !825# !730# 13,0302 !566# !386# !353# !407# 11,7122

EBITDA €m !66# !68# !66# !76# 12762�� !34# !10# !4# !19# 1672

EBIT� €m !70# !73# !76# !85# 13042�� !39# !17# !10# !28# 1942

EBT €m !92# !103# !114# !154# 14632�� !112# !101# !73# !65# 13512

OCF €m 679 !229# !166# !32# 252 506 246 83 73 908

+�CF�from�divestm. €m !19# !75# 73 !82# 11032�� 38 !44# 9 38 22

−�CF�for�investm. €m !36# !107# 126 !27# 1442�� 25 28 34 75 143

FCF €m 696 !197# !219# !87# 193 519 174 58 35 785

2,328 2,322 2,315 2,330 2,330 2,316 1,575 1,581 1,595 1,595Employees�!Corporate#

2007/08 2008/09

Corporate/Consolidation:�Overview

Corporate/Consolidation

December2009

Major�Nonrecurring�Items�!I#

Business�Area Q1 Q2 Q3 Q4 FY

Steel:

Project�costs�TK�CSA !57# !17# !8# !88# 11702

Project�costs�NAFTA�Steel !19# !5# !11# !9# 1442

Restructuring�Metal�Forming Steel�Europe !8# !3# !11# !37# 1592

Restructuring�TK�Steel Steel�Europe !126# !1# 11272

Restructuring�Color/Construction Steel�Europe !5# !18# 1232

Other�restructuring !4# !24# 1282

Impairment�Metal�Forming Steel�Europe !6# 162

Impairment�Color/Construction Steel�Europe !3# 132

Other�impairments !5# !15# 1202

Stainless:

Project�costs�NAFTA�Stainless !7# !4# !3# !5# 1192

Restructuring�Nirosta Stainless�Global !46# 1462

Other�restructuring !14# 1142

Impairment�SKS Stainless�Global !60# 1 1592

Impairment�Nirosta Stainless�Global !46# 1462

Other�impairments !2# !11# 1132

Segment

2008/09

December2009

Major�Nonrecurring�Items�!II#

Technologies:

Restructuring�System�Engineering Plant�Technology !1# !22# 1232

Restructuring�Transrapid Plant�Technology !5# !10# 1152

Restructuring�Forging�Group Components�Technology !19# !12# !97# 11282

Restructuring�Bilstein Components�Technology !2# !5# !12# 1192

Restructuring�Presta�Steering Components�Technology !2# !1# !10# 1132

Restructuring�Waupaca Components�Technology !3# 132

Restructuring�Marine�Systems Marine�Systems !7# !57# !163# 12272

Other�restructuring !1# !2# 132

Impairment�Transrapid Plant�Technology !7# 172

Impairment�Forging�Group Components�Technology !2# !35# 1372��

Impairment�Bilstein Components�Technology !22# 1222��

Impairment�Presta�Steering Components�Technology !1# !8# !5# 1142��

Impairment�Waupaca Components�Technology !76# 1762��

Impairment�Marine�Systems Marine�Systems !13# !20# !174# 12072��

Other�impairments !2# !5# 172��

Divestment�Bilstein Components�Technology 2 2��

Divestment�Nobiskrug Marine�Systems !31# 1 1302��

Other�divestments 8 10 18��

Segment

2008/09

December2009

Elevator:

Restructuring�Fahrtreppen�Hamburg Elevator�Technology !26# 1262

Other�Restructuring !2# !2# !2# 162

Impairment�Fahrtreppen�Hamburg Elevator�Technology !2# 122

Services:

Restructuring�Material�Services�International Materials�Services !72# 1722

Other�Restructuring !12# !11# 1232

Corporate:

Other�Restructuring !13# 1132

Group: 1932 11722 13202 11,0452 11,6302

Segment

2008/09

Major�Nonrecurring�Items�!III#

December2009

Overview�Business�Areas�– FY�2008/09

Steel�

Europe

Steel�

Americas

Stainless�

Global

Materials�

Services

Elevator�

Technology

Plant�

Technology

Components�

Technology

Marine�

Systems

Order�intake €m 7,892 0 4,147 12,085 5,038 3,538 4,177 870

Sales €m 9,570 0 4,486 12,815 5,308 4,450 4,603 1,594

EBITDA €m 487 !73# !600# !38# 640 206 35 !319#

EBIT� €m !134# !77# !864# !211# 570 163 !396# !543#

EBT €m !197# !216# !926# !295# 570 236 !458# !554#

Capital�Employed €m 5,864 3,475 3,240 3,943 1,554 !1,034# 3,011 379

Employees 36,416 1,659 11,755 44,316 42,698 13,043 27,973 7,770

(preliminarynumbers;earningsadjustedforinternalreallocation)