Thyssenkrupp : Interim report 9 months 2021/2022

I n t e r i m r e p o r t

9 m o n t h s 2 0 2 1 / 2 0 2 2

O ctober 1, 2021 -

June 30, 2022

thyssenkrupp interim report 9 months 2021 / 2022

thyssenkrupp in figures

thyssenkrupp in figures

				Full group								Group - continuing operations1)
				9 months		9 months						9 months		9 months
				ended		ended						ended		ended
				June 30, 2021		June 30, 2022		Change		in %		June 30, 2021		June 30, 2022		Change	in %
Order intake		million €	25,260	33,906	8,646	34	25,260	33,906	8,646		34
Sales		million €	24,575	30,571	5,996	24	24,575	30,571	5,996		24
EBITDA		million €	1,006	2,533	1,527	++	1,023	2,525	1,502		++
EBIT2)		million €	284	1,396	1,112	++	301	1,387	1,086		++
EBIT margin	%		1.2	4.6	3.4	++	1.2	4.5	3.3		++
Adjusted EBIT2)		million €	564	1,901	1,337	++	564	1,901	1,337		++
Adjusted EBIT margin	%		2.3	6.2	3.9	++	2.3	6.2	3.9		++
Income/(loss) before tax		million €	5	1,102	1,097	++	23	1,094	1,071		++
Net income/(loss) or earnings after tax		million €	(168)	801	969	++	(151)	792	943		++
attributable to thyssenkrupp AG's
shareholders		million €	(231)	746	978	++	(214)	738	952		++
Earnings per share (EPS)		€	(0.37)	1.20	1.57	++	(0.34)	1.19	1.53		++
Operating cash flows		million €	(222)	(1,267)	(1,044)	--	(219)	(1,266)	(1,048)		--
Cash flow for investments		million €	(861)	(802)	59	7	(861)	(802)	59		7
Cash flow from divestments		million €	973	593	(380)	(39)	973	593	(380)		(39)
Free cash flow3)		million €	(110)	(1,475)	(1,365)	--	(107)	(1,475)	(1,368)		--
Free cash flow before M & A3)		million €	(953)	(2,042)	(1,089)	--	(953)	(2,042)	(1,089)		--
Net financial assets (June 30)		million €	(3,986)	(1,969)	2,017	51
Total equity (June 30)		million €	10,756	14,085	3,329	31
Gearing (June 30)	%		-4)		-4)		-		-
Employees (June 30)				101,592	97,152	(4,440)	(4)

1. See preliminary remarks.
2. See reconciliation in segment reporting (Note 09).
3. See reconciliation in the analysis of the statement of cash flows.
4. Due to the strongly positive total equity and the reported net financial assets, the significance of the gearing key ratio is of no relevance.

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thyssenkrupp interim report 9 months 2021 / 2022

thyssenkrupp in figures

				Full group								Group - continuing operations1)
				3rd quarter		3rd quarter						3rd quarter		3rd quarter
				ended		ended						ended		ended
				June 30, 2021		June 30, 2022		Change		in %		June 30, 2021		June 30, 2022		Change	in %
Order intake		million €	8,770	9,946	1,176	13	8,770	9,946	1,176		13
Sales		million €	8,676	10,950	2,273	26	8,676	10,950	2,273		26
EBITDA		million €	584	953	369	63	585	953	367		63
EBIT2)		million €	332	305	(27)	(8)	334	305	(29)		(9)
EBIT margin	%		3.8	2.8	(1.0)	(27)	3.8	2.8	(1.1)		(28)
Adjusted EBIT2)		million €	266	721	455	++	266	721	455		++
Adjusted EBIT margin	%		3.1	6.6	3.5	++	3.1	6.6	3.5		++
Income/(loss) before tax		million €	223	180	(43)	(19)	224	180	(44)		(20)
Net income/(loss) or earnings after tax		million €	145	92	(53)	(36)	146	92	(54)		(37)
attributable to thyssenkrupp AG's
shareholders		million €	125	76	(49)	(39)	126	76	(50)		(40)
Earnings per share (EPS)		€	0.20	0.12	(0.08)	(39)	0.20	0.12	(0.08)		(40)
Operating cash flows		million €	(10)	(184)	(174)	--	(10)	(184)	(174)		--
Cash flow for investments		million €	(259)	(247)	12	5	(259)	(247)	12		5
Cash flow from divestments		million €	65	16	(49)	(76)	65	16	(49)		(76)
Free cash flow3)		million €	(204)	(415)	(211)	--	(204)	(415)	(211)		--
Free cash flow before M & A3)		million €	(235)	(412)	(177)	(75)	(235)	(412)	(177)		(75)
Net financial assets (June 30)		million €	(3,986)	(1,969)	2,017	51
Total equity (June 30)		million €	10,756	14,085	3,329	31
Gearing (June 30)	%		-4)		-4)		-		-
Employees (June 30)				101,592	97,152	(4,440)	(4)

1. See preliminary remarks.
2. See reconciliation in segment reporting (Note 09).
3. See reconciliation in the analysis of the statement of cash flows.
4. Due to the strongly positive total equity and the reported net financial assets, the significance of the gearing key ratio is of no relevance.

THYSSENKRUPP STOCK / ADR MASTER DATA AND KEY FIGURES

ISIN				Number of shares (total)	shares	622,531,741
Shares (Frankfurt, Düsseldorf stock exchanges)		DE 000 750 0001	Closing price end June 2022	€	5.41
ADR (over-the-counter trading)		US88629Q2075	Stock exchange value end June 2022	million €	3,368
Symbols
Shares		TKA
ADR		TKAMY

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thyssenkrupp interim report 9 months 2021 / 2022

Contents

Contents

02	thyssenkrupp in figures	38	Condensed interim financial statements
			39	thyssenkrupp group - statement of financial position
05	Foreword	41	thyssenkrupp group - statement of income
			42	thyssenkrupp group - statement of comprehensive
07	Interim management report		income
07	Preliminary remarks	44	thyssenkrupp group - statement of changes in equity
08	Report on the economic position	46	thyssenkrupp group - statement of cash flows
	09	Summary	48	thyssenkrupp group - selected notes to the financial
	10	Macro and sector environment		statements
	14	Segment reporting	72	Review report
	28	Results of operations and financial position
32	Compliance	73	Additional information
33	Forecast, opportunity and risk report	73	Contact and 2022 / 2023 financial calendar

1. 2021 / 2022 forecast

1. Opportunities and risks

Our fiscal year begins on October 1 and ends on

September 30 of the following year.

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thyssenkrupp interim report 9 months 2021 / 2022

Foreword

Foreword

Dr. Klaus Keysberg

Chief Financial Officer (CFO)

Dear Shareholders,

thyssenkrupp again performed well in the 3rd quarter of the 2021 / 2022 fiscal year in an environment which remains challenging, due not least to the war in Ukraine. The continued tight situation in global supply chains, with associated delayed customer call-offs,pandemic-related plant closures in China, and above all the rise in factor costs remains challenging overall, especially at Automotive Technology and Industrial Components. In some cases, however, we have already succeeded in countering the sharp rise in materials, energy and logistics costs through corresponding price adjustments. With sales volumes declining overall, the higher market prices for many materials up to the beginning of the 3rd quarter again led to improved revenues and margins at Materials Services and Steel Europe. Additionally, in-depth performance initiatives in all segments are supporting the development of both sales and, in particular, earnings. Overall, we recorded significant growth in both order intake and sales. And we also significantly increased our adjusted EBIT year-on-year.

We made further progress on our journey towards becoming a high-performance group of companies with strong, independent businesses: Marine Systems will expand its strategic options for the construction of submarines and surface vessels in the naval sector with the acquisition of MV Werften Wismar. A stock market listing remains our preferred option for our hydrogen business thyssenkrupp nucera so we can benefit from the growth prospects for green electrolysis plants as a global technology leader. The potential remains enormous, and thyssenkrupp nucera's growth and value prospects have gained additional opportunities in recent months, including support from political decisions. This is demonstrated by the dynamic growth in order intake, the increase in the order backlog to a total of around €1.4 billion, and the significantly higher demand for electrolysis plants to produce green hydrogen as a result of the now even faster transition from fossil fuels to green hydrogen]. A decision on the timing of any IPO depends on the situation on the capital markets. In the automotive business, we are also exploring a potential joint venture with Japanese industrial group NSK. We remain convinced that the strategy of establishing steel as a stand-alone business

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