Thyssenkrupp Ag · XETR:TKA
Thyssenkrupp — Investor Presentation (May 2015)
69 slides from Thyssenkrupp's investor presentation, May 2015
Slide 1: Presentation Facts & Figures May 2015
Presentation Facts & Figures May 2015 Developing the future.
Slide 2: Agenda
Agenda Presentation slides 2-13 • Key Figures, Group Outlook and Strategic Way Forward • Group Performance and Financials Facts & Figures slides 17-67 Presentation ThyssenKrupp May 2015 1 Developing the future.
Slide 3: Value Opportunity from Group Transformation
Value Opportunity from Group Transformation Active portfolio One integrated Capital management company efficiency Diversified Industrial Company Leading market Benchmark Profitable positions performance growth Leading Engineering Competence Transformation to a global Diversified Industrial aiming
Slide 4: Q2 Targets Achieved and FY EBIT adj. Target Increased
Q2 Targets Achieved and FY EBIT adj. Target Increased SWF EBIT adj. (€m) €1.6-1.7 bn 1,329 FY 405 517 306 317 318 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q3E 2011/12 2012/13 2013/14 2014/15 Improvements driven by efficiency gains from and growth EBIT adj. up by >30% yoy – highest in 14 quarters Improvement yoy at
Slide 5: FY 2014/15E – EBIT adj. of €1.6-1.7 bn, Sales Growing at 1-Digit % Rate
FY 2014/15E – EBIT adj. of €1.6-1.7 bn, Sales Growing at 1-Digit % Rate* EBIT adj. €1.6-1.7 bn CT Higher sales with slightly increased €1.3 bn earnings by ramp-up new plants and Growth / Markets efficiency gains/restructuring ET Higher sales with increased earnings & margin improvement by 0.5-0.
Slide 6: Entering the Next Phase in the Transformation Journey
Entering the Next Phase in the Transformation Journey: SWF More Structural Growth and Less Cyclical Volatility • EBIT adj.: €1.6-1.7 bn • Establishing EBIT adj. floor with ~€2 bn as minimum requirement • NI: further improvement • Sustainable cash generation • FCF before divest: at least break-even •
Slide 7: Agenda
Agenda Presentation slides 2-13 • Key Figures, Group Outlook and Strategic Way Forward • Group Performance and Financials Facts & Figures slides 17-67 Presentation ThyssenKrupp May 2015 6 Developing the future.
Slide 8: Solid Orders with Tailwinds from F/X
Solid Orders with Tailwinds from F/X Order intake – continuing operations (million €) now incl. proportionate consolidation HKM Group cont. ops. +2% +3% yoy qoq -6%* CT: • yoy up by 12% (3%*) 10,210 10,094 10,406 • strong auto markets and recovery of wind industry Steel 420 ET: • yoy up by 20% (7%*)
Slide 9: Sales Growth with Tailwinds from F/X
Sales Growth with Tailwinds from F/X Sales – continuing operations (million €) Group cont. ops. now incl. proportionate consolidation HKM +7% CT: • yoy up by 11% (2%*) +9% yoy • strong auto markets and qoq -1%* recovery of wind industry 10,269 10,044 10,995 ET: • yoy up by 12% (1%*) • strong sales d
Slide 10: 4 out of 6 BAs With Improved EBIT Adj. YoY and QoQ
4 out of 6 BAs With Improved EBIT Adj. YoY and QoQ EBIT adjusted (million €); EBIT adjusted margin (%) Group cont. ops. now incl. proportionate consolidation HKM +32% +28% EBIT adj. % yoy qoq Q2 245 306 317 405 CT: • Efficiency gains & growth yoy ET: • Efficiency gains & growth yoy; 83 4.8 seasonali
Slide 11: Net Income Underlying Better – Fully In-line with FY Improvement Target
Net Income Underlying Better – Fully In-line with FY Improvement Target Net income reconciliation Q2 2014/15 (million €) * attributable to ThyssenKrupp AG‘s stockholders thereof: 405 (204) ThyssenKrupp AG’s stockholders: €50 m thereof: FY tax rate ThyssenKrupp AG’s stockholders: €48 m estimated at ~
Slide 12: Significant Improvement in Cash Flow; NFD Burdened by F/X
Significant Improvement in Cash Flow; NFD Burdened by F/X Q2 2014/15 – full group (million €) now incl. prop. cons. HKM 2013/14 2014/15 Q1 Q2 H1 Q1 Q2 H1 yoy qoq OCF 39 (361) (322) (386) 212 (174) FCF (209) (651) (860) (651) (55) (706) bef. divest (4,212) Accounting/temporary: (4,633) • Non-cash exp
Slide 13: H2: Seasonally Stronger Earnings and Efficiency Gains
H2: Seasonally Stronger Earnings and Efficiency Gains FYE: EBIT adj. (€m) €1.6-1.7 bn H2 2014/15E > H1 CapGoods: 778 1,329 CT: • improvements in auto and wind (efficiency gains and growth) ET: • growth from US and Asia/Pacific; 722 551 seasonally stronger IS: • project execution from existing backlo
Slide 14: Outlook Q3 2014/15
Outlook Q3 2014/15 EBIT adj. FCF before divest* €394 m €405 m €(83) m €(55) m yoy / qoq yoy / qoq improvement slight improvement Q3 Q2 Q3E Q3 Q2 Q3E 13/14 14/15 14/15 13/14 14/15 14/15 EBIT adjusted (million €); EBIT adjusted margin (%) 4.3 4.8 1.5 1.3 Components 69 83 yoy Materials 58 49 qoq Techno
Slide 15: Financial Calendar – FY 2014/15
Financial Calendar – FY 2014/15 IR contact +49 201-844-536480 ir@thyssenkrupp.com May Roadshows London (19th), Milan (27th), Zurich (28th) Conferences Exane Nordic Investor Forum, Stockholm (21st) June Roadshows Paris (3rd), Chicago (15th), Atlanta (16th), New York/Boston (18th-19th), Conference
Slide 16: Share and ADR Data
Share and ADR Data Shares outstanding 565,937,947 Type of share No-par-value bearer shares Voting One share, one vote Share Data Ticker Symbol TKA German Security Identification Number (WKN) 750 000 ISIN Number DE0007500001 Exchange Frankfurt, Dusseldorf ADR Data Ratio (ordinary share: ADR) 1:1 ADR
Slide 17: Agenda Appendix
Agenda Appendix Presentation ThyssenKrupp May 2015 16 Developing the future.
Slide 18: ThyssenKrupp – Strategic Way Forward
ThyssenKrupp – Strategic Way Forward More & Better Diversified Industrial Company Positioning Sustainability Change People Performance Customers & Financial Strategic Management Success Orientation Markets Stability Push Mission Employee Active portfolio Brand Balanced White/adjacent Sta
Slide 19: SWF: Progress in Change, Performance and Financial Situation
SWF: Progress in Change, Performance and Financial Situation SWF New Supervisory Board Chairman with compliance >€850 m >€2.5 bn and corporate governance as top priority >€1 bn New and smaller Executive Board ~€600 m New Executive Board Member 12/13 13/14 14/15 for Legal Affairs & Compliance C
Slide 20: ThyssenKrupp
ThyssenKrupp ThyssenKrupp FY 2013/14: Sales €41.2 bn • EBIT adj. €1.3 bn • Employees 162,372 Components Sales: €6.2 bn Elevator €6.4 bn Industrial €6.3 bn Technology EBIT adj.: €268 m Technology €674 m Solutions €420 m Automotive components Elevators Petrochemical plants (e.g. camshafts, crank
Slide 21: Performance Track Record
Performance Track Record EBIT adjusted, EBIT adjusted margin (million €, %) 2.4 2.0 Materials 1.6 6.5 Services 311 236 212 Comp. 4.2 4.3 Techn. 453 240 268 2.2 1.5 2.5 Steel 247 143 221 Europe 10.5 Elevator ~9.1 ~9.7 Techn. ~520* ~600* 674 (495) (68) Steel * pro forma (1,010) Americas* Industrial ~7
Slide 22: Systematic Benchmarking Aiming at Best-in-Class Operations
Systematic Benchmarking Aiming at Best-in-Class Operations Selected Peers / Relevant Peer Segments Components • Chassis & Powertrain: Materials Technology Continental; NSK (JPN); TRW (USA) Services • ArcelorMittal / Distribution Solutions • Industry: • Klöckner SKF (Industrial); • Reliance Titan Int
Slide 23: ThyssenKrupp's 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 24: Mid- to Long-Term Perspective From Strategic Way Forward
Mid- to Long-Term Perspective From Strategic Way Forward SWF CT return to previous margin levels (6-8%) MX return to previous margin levels • efficiency gains • efficiency gains • ramp-up new plants • specialization & processing Profitability before growth Profitability AST/VDM: perform./attra
Slide 25: Entering the Next Phase in the Transformation Journey: Return to Dividend
Entering the Next Phase in the Transformation Journey: Return to Dividend 700 2 635 603 Dividend payment (€m) 1.8 600 Dividend (€/share) 1.6 489 500 1.30 1.30 1.4 412* 400 1.2 1.00 1 299 0.80* 300 0.8 0.60 232 209 200 0.6 139 0.45 0.45 0.4 100 0.30 62 0.2 0.11 0 0 2003/04 2004/05 2005/06 2006/07 200
Slide 26: Key Financials (I)
Cont. Ops. Key Financials (I) (incl. Steel Americas with Steel USA until Feb 26, 2014) 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 10,661 10,210 10,153 10,352 41,376 10,094 10,406 Sales €m 9,088 10,269 10,720 11,135 41,212 10,044 10,995 EBITDA €m 482 610 644 409 2,145 590 678 EBITDA adjuste
Slide 27: Key Financials (II)
Cont. Ops. Key Financials (II) (incl. Steel Americas with Steel USA until Feb 26, 2014) 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 TK Value Added* €m (282) Ø Capital Employed* €m 15,492 16,126 16,123 15,853 15,853 15,676 16,015 Goodwill** €m 3,574 Depreciation/amort. €m 273 286 286 298 1,143 305 477 Opera
Slide 28: Key Financials (III)
Full Group Key Financials (III) (Cont. ops. + Inoxum effects until Q2 13/14) 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 10,661 10,210 10,153 10,352 41,376 10,094 10,406 Sales €m 9,088 10,269 10,720 11,135 41,212 10,044 10,995 EBITDA €m 669 608 643 410 2,330 587 675 EBITDA adjusted €m 518 5
Slide 29: Sales by Region FY 2013/14
Sales by Region FY 2013/14 ThyssenKrupp Components Elevator Industrial Materials Steel Steel Group Technology Technology Solutions Services Europe Americas 41,304 €m 6,172 6,416 6,271 13,660 8,819 2,060 Germany % 32 9 14 33 60 7 30% Germany Europe (excl. Germany) % 21 25 18 38 30 0 North and Central
Slide 30: Special Items
Special Items Business Area 2013/14 2014/15 (million €) Q1 Q2 Q3 Q4 FY Q1 Q2 Disposal effect 2 2 Impairment (1) CT Restructuring (7) (4) (14) (25) (1) Others (1) (8) (1) (1) (11) (2) Disposal effect (1) 1 Impairment (11) (11) ET Restructuring (41) (4) (9) (57) (111) (1) (6) Others (73) (73) (1) (4)
Slide 31: Sustainable Efficiency Gains to Support EBIT Target FY 2014/15E
Sustainable Efficiency Gains to Support EBIT Target FY 2014/15E Ramp-up Efficiency Gains 2015 Efficiency Gains 2015 by Business Area million € Corporate >850 >2,500 Industrial Solutions ~6% ~15% Steel Europe ~27% Components Technology ~14% ~13% >1,000 ~14% Steel Americas Elevator Technology ~12% Mat
Slide 32: Capex Allocation
Capex Allocation Cash flows from investing activities – continuing operations CapGoods (CT, ET, IS) Group cont. ops. CT Materials (MX, SE, AM) ET max €1.5 bn IS ~7 MX ~31 ~€1.3 bn SE ~34 ~€1.26 bn AM ~34 in % ~33 ~8 ~13 ~7 CT 31% ~8 30% ET 11% 7% Growth thereof: CT: ~60% 5% Maint. SE: ~20% IS 5% IS:
Slide 33: Solid Financial Situation
Solid Financial Situation Liquidity analysis and maturity profile of gross financial debt as of March 31, 2015 (million €) 7,329 Additional bond placements in February 2015: • €750 m / 1.75% bond maturing in Nov 2020 • €600 m / 2.5% bond maturing in Feb 2025 Available committed 3,420 credit faciliti
Slide 34: Innovation as Key Element in Diversified Industrial Concept
Innovation as Key Element in Diversified Industrial Concept R&D expenses TK Group (in €m) The InCar®plus Project 2013/2014 Further increase by all Highlights: Business Areas planned • 30 projects with more than 40 individual solutions • Green, cost-competitive, lightweight, 708 high-performing 647
Slide 35: Accrued Pension and Similar Obligations
Accrued Pension and Similar Obligations Accrued pension and similar obligations (in €m) Accrued pension & similar obligations expected to Accrued postretirement decrease over time (in €m) 7,348 7,490 obligation other than Assumption: unchanged discount rate 10 pensions 7,354 192 698 436 Other accrue
Slide 36: Majority of Pension Plans Subject to German Pension Accounting
Majority of Pension Plans Subject to German Pension Accounting Funded status of defined benefit obligation Development of accrued pension liabilities (FY 2013/14, in €m) (FY 2013/14, in €m) Germany Outside Germany 2,305 (215) DBO 7,068 6,852 6,480 7,288 2,473 (2,090) 53 436 756 Defined Plan assets A
Slide 37: 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 Actuarial losses due to lower discount rate 125 5 (5) 15 overcompensate deconsolidation effect (Budd) (537) 217 206 7,490* 7,484* (
Slide 38: Components Technology – Q2 2014/15 Highlights
CT Components Technology – Q2 2014/15 Highlights Order intake in €m Quarterly order intake auto components EBIT in €m; EBIT adj. margin in % Q2 2014/15: yoy increase in order intake EBIT adjusted EBIT mainly driven by continuing strong LV demand in the US and China 83 75 69 67 61 1,763 1,611 1,621 4
Slide 39: Components Technology
CT Components Technology Key figures 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 1,439 1,573 1,611 1,534 6,157 1,621 1,763 Sales €m 1,428 1,555 1,603 1,586 6,172 1,597 1,732 EBITDA €m 121 136 135 123 514 140 159 EBITDA adjusted €m 129 144 139 135 547 140 162 EBIT* €m 54 67 65 48 234 67 79 E
Slide 40: Components Technology – Overview Eight Business Units in Three Clusters
Components Technology – Overview CT Eight Business Units in Three Clusters Sales: €6,172 m; Employees: 28,941 CHASSIS POWERTRAIN INDUSTRY (~60% of sales) (~20% of sales) (~20% of sales) STEERING DAMPERS CAMSHAFTS BEARINGS Motor Excavator FORGED & SPRINGS & MACHINED SYSTEMS STABILIZERS COMPONENTS UND
Slide 41: Pacing to Margin Increase and Topline Growth
CT Pacing to Margin Increase and Topline Growth return to previous margin levels (6-8%) • efficiency gains • ramp-up new plants EBIT adj. margin (%) Profitability 6-8% Growth Step change in quality and 4.3% Performance cost position Streamlining of processes and structures Wave of innovation
Slide 42: Elevator Technology – Q2 2014/15 Highlights
ET Elevator Technology – Q2 2014/15 Highlights Order intake in €m Units under Maintenance EBIT* in €m; EBIT * adj. margin in % H1: 3,382 H1: 3,758 ~ 1.2 m EBIT adjusted EBIT CAGR 1,868 1,890 +4.6% 1,692 1,745 202 1,581 ~0.8 m 173 178 168 143 +0.5%-p. 11.3 10.8 10.4 10.1 9.6 138 165 62 176 158 Q2 Q1
Slide 43: Elevator Technology
ET Elevator Technology Key figures 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 1,801 1,581 1,692 1,745 6,819 1,868 1,890 Sales €m 1,544 1,481 1,609 1,783 6,417 1,712 1,661 EBITDA* €m 133 157 184 91 566 195 177 EBITDA adjusted* €m 175 161 192 219 748 196 187 EBIT* €m 115 138 165 62 480 176 1
Slide 44: Elevator Technology – Overview
ET Elevator Technology – Overview Elevator Technology Sales*: €6,416 m; Employees*: 50,282 Central/Eastern/ Southern Europe/ Access Americas Asia/Pacific Northern Europe Africa/Middle East Solutions Home elevators, stair lifts, Elevators/Escalators new installation, Passenger service and modernizati
Slide 45: Five Initiatives to Improve Performance and Push Growth
Five Initiatives to Improve Performance and Push Growth ET target: 15%* I €1 bn (EBIT adj.) • efficiency gains and growth opportunities Q1 Q2 Q3 Q4 Presentation ThyssenKrupp May 2015 44 Developing the future.
Slide 46: Industrial Solutions – Q2 2014/15 Highlights
IS Industrial Solutions – Q2 2014/15 Highlights Order intake in €m Order backlog in €bn EBIT* in €m; EBIT* adj. margin in % H1: 3,483 H1: 1,817 EBIT adjusted EBIT 12.8 117 112 1,188 199 109 Systems 1,214 Marine 1,075 100 1,035 92 Systems Marine 742 >30% of sales 16/17E 7.3 7.0 5.5 6.7 6.7 covered Te
Slide 47: Industrial Solutions
IS Industrial Solutions Key figures 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 2,295 1,188 1,035 1,214 5,732 1,075 742 Sales €m 1,288 1,593 1,585 1,805 6,271 1,377 1,633 EBITDA* €m 105 129 126 124 484 107 124 EBITDA adjusted* €m 105 132 126 116 480 104 124 EBIT* €m 91 114 111 107 422 95 10
Slide 48: Industrial Solutions – Engineering Powerhouse Within ThyssenKrupp
Industrial Solutions – Engineering Powerhouse Within ThyssenKrupp IS Industrial Solutions Order intake: €5,732 m | Sales: €6,271 m | Employees: 18,546 Process Resource Marine System Unit Technologies Technologies Systems Engineering Chemicals Mining Submarines Automotive Market Fertilizer Cement Nav
Slide 49: Enhancing Growth Across All Regions & Becoming a Global Leading Player
IS Enhancing Growth Across All Regions & Becoming a Global Leading Player IS sales growth by Ø ~5% Sales to €8 bn >€8 bn > • maintain EBIT margin* of 6-7% Growth €6.3 bn €5.6 bn Market Growth EBIT Expansion of Accessible Market by margin EBIT EBIT • new technology solutions 6-7% margin margin • se
Slide 50: Materials Services – Q2 2014/15 Highlights
MX Materials Services – Q2 2014/15 Highlights Order intake* in €m Materials warehousing shipments in 1,000 t EBIT in €m; EBIT adj. margin in % * thereof materials warehousing business ~60% excl. AST/VDM shipments EBIT adjusted EBIT 3,700 3,726 3,723 64 3,414 3,546 58 AST/ 56 VDM 49 1,429 1,437 1,384
Slide 51: Materials Services
MX Materials Services Key figures 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 2,842 3,414 3,700 3,726 13,682 3,546 3,723 thereof Special Materials 288 731 599 1,618 546 729 Sales €m 2,739 3,320 3,780 3,821 13,660 3,421 3,794 thereof Special Materials 266 763 689 1,718 522 733 EBITDA €m 63 6
Slide 52: Link Between Industrial and Raw Materials Producers and Customers
Link Between Industrial and Raw Materials Producers and Customers MX Materials Services: Sales: €13,660 m; Employees: 30,289 Producers Business Warehousing/ • Distribution Production • Stainless steel (AST) Area Service • Value added services Materials center • Supply chain management Trading • High
Slide 53: Materials Services – Performance and Growth Levers
Materials Services – Performance and Growth Levers MX return to previous margin levels • efficiency gains • specialization & processing AST/VDM: perform./attract. concept • Organic growth • Selected smaller growth investments (e.g. USA, Europe) Presentation ThyssenKrupp May 2015 52 Developing th
Slide 54: Steel Europe – Q2 2014/15 Highlights
SE Steel Europe – Q2 2014/15 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 adjusted EBIT 103 113 117 119 118 117 113 79 5.0 2,429 64 2,394 4.6 2,177 2,095 3,109 3,155 4.0 2,034 2,858 2,847 36 2,554 2.7 1.7 54 91 31 80 11
Slide 55: Steel Europe
SE Steel Europe Key figures 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 2,272 2,429 2,177 2,034 8,912 2,095 2,394 Sales €m 2,066 2,377 2,218 2,158 8,819 1,985 2,260 EBITDA €m 137 172 206 133 648 199 217 EBITDA adjusted €m 137 182 219 139 677 199 217 EBIT* €m 19 54 91 31 195 80 113 EBIT adju
Slide 56: Impact on KPIs from Proportionate Consolidation HKM
SE Impact on KPIs from Proportionate Consolidation HKM (as of Oct 1st, 2013) KPI FY 2013/14 Δ proportionate FY 2013/14 (in million €) without HKM consolidation HKM with HKM Sales Group 41,304 -92 41,212 SE 8,857 -38 8,819 EBITDA adjusted Group 2,409 +57 2,466 SE 620 +57 677 EBIT adjusted Group 1,314
Slide 57: Overview Business Area Steel Europe
SE Overview Business Area Steel Europe Key Figures Steel Europe* 2009/10 2010/11 2011/12 2012/13 2013/14 Sales €m 10,770 12,814 10,992 9,620 8,819 Crude steel kt 13,296 13,247 11,860 11,646 12,249 Shipments kt 12,009 13,022 12,009 11,519 11,393 EBITDA €m 1,301 1,670 659 512 648 EBIT €m 731 1,133 188
Slide 58: Comprehensive Cost & Differentiation Program
Costs Comprehensive Cost & Differentiation Program Geared to Mix SE Sustainable Improvement of Profit and Cash Flow Profile Differentiation EBIT adj / EBITDA adj * in € bn Business Cash-Flow** in € bn EBITDA adj. EBIT adj. TKVA in € bn historically with manageable volatility sig +ve EBIT adj / BCF i
Slide 59: Steel Europe: Output, Shipments and Revenues per Metric Ton
SE 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 3,312 3,418 3,189 3,256 3,155 2,965 2,912 3,146 3,119 3,020 3,002 2,879
Slide 60: Steel Americas – Q2 2014/15 Highlights
AM Steel Americas – Q2 2014/15 Highlights Order intake in €m Production & shipments in 1,000 t EBIT in €m EBIT adjusted EBIT 987 1,071 1,054 987 900 12 620 Slab production 0 574 CSA 475 Q2 Q1 Q2 (27) (20) 412 420 13/14 14/15 (34) 1,034 1,0461,131 915 967 115 4 (54) (11) (19) Slab shipments CSA Q2 Q1
Slide 61: Steel Americas
AM Steel Americas Key figures 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 609 574 412 620 2,215 475 420 Sales €m 538 535 441 546 2,060 502 453 EBITDA €m 29 143 33 (16) 188 21 17 EBITDA adjusted €m 10 1 40 (4) 48 32 15 EBIT €m (1) 115 4 (54) 64 (11) (19) EBIT adjusted* €m (19) (27) 12 (34) (
Slide 62: US Assets Divested And Forward Strategy TK CSA Defined
US Assets Divested And Forward Strategy TK CSA Defined AM Current focus on operating improvements in Brazil Exit TK Steel USA slab sales TK CSA 4.1 Sale to MT/NSSMY in m t/yr Price: $1.55 bn 3.5 • stabilization & TKS USA 3.3 continuous ramp-up Alabama • efficiency imprvmts 2.8 • implement sales or
Slide 63: Positive EBITDA Achieved in FY13/14, Cash Break-Even Targeted in FY14/15
AM Positive EBITDA Achieved in FY‘13/14, Cash Break-Even Targeted in FY’14/15 2010/11 2011/12 2012/13 2013/14 2014/15E 3.5 BRL/USD 0.05 (0.2) (0.1) 3.0 (0.4) BCF 2.5 (0.5) (0.2) ~ break-even (0.6) during FY ‘14/15 2.0 (0.7) 1.5 Positive (1.1) (0.5) EBITDA adj 1.0 in FY 2013/14 2004 2006 2008 2010 20
Slide 64: Corporate: Overview
Corp Corporate: Overview Key figures 2013/14 2014/15 Q1 Q2 Q3 Q4 FY Q1 Q2 Order intake €m 42 43 41 52 177 47 49 Sales €m 42 42 41 52 177 45 48 EBITDA €m (107) (189) (130) (88) (514) (96) (96) EBITDA adjusted €m (94) (109) (127) (48) (378) (91) (88) EBIT* €m (116) (199) (139) (108) (563) (107) (107)
Slide 65: Enhanced Management Compensation: Strengthening of LTI
Enhanced Management Compensation: Strengthening of LTI LTI: Share price, TKVA (target TKVA = 0) Payout now limited to 250% of initial value (formerly: 300%) Long-Term 50% Increase of €20 m Ø TKVA (if TKVA >0) = 1% increase in number of rights 60% Incentive Plan Variable (LTI) Reduction of €10 m
Slide 66: ThyssenKrupp Rating
ThyssenKrupp Rating Long-term Short-term Outlook rating rating Standard & Poor’s BB B stable Moody’s Ba1 Not Prime negative Fitch BB+ B stable Presentation ThyssenKrupp May 2015 65 Developing the future.
Slide 67: Shareholder Structure
Shareholder Structure AKBH Foundation 23.03% Free Float 76.97% Private Investors 10.00% International Mutual Funds 66.97% incl. Cevian Capital 15.08% Source: WpHG Announcements; ThyssenKrupp Shareholder ID 09/2014 Presentation ThyssenKrupp May 2015 66 Developing the future.
Slide 68: 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 69: 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