Fats years have gone to Thyssenkrupp

After several fat years is the largest German steel group ThyssenKrupp on lean times. "The economic slump in the auto, engineering and construction industries is Thyssen Krupp also left," said chief executive Ekkehard Schulz on Friday in Essen. With the figures for the previous fiscal year 2007/08 surprised Schulz still positive. In the current fiscal year, however, he expects sales to decline. At a precise forecast, he wanted not specify. From job cuts have not been talking Schulz. Thus goes for his strong workers' representation known group had a different path as a world leader Arcelor Mittal. This has been the reduction of worldwide up to 9000 posts announced. Temporary work also is not currently on. "The short element is with us still not planned," said Schulz, whose contract early in the year ahead to 2011 had been extended. He concluded short but not sufficient, should be the elimination of residual leave, overtime or temporary workers in the first quarter of 2009 to be exhausted. INVESTMENT COULD BE RESCHEDULED "How are caused by the financial crisis triggered rejections impact, is currently difficult to estimate," admitted Schulz On. The company has about 40 percent of its steel in the auto industry, which is struggling with sales slumps. The demand and prices for steel have as much relented. How ArcelorMittal or the German industry Second Salzgitter, ThyssenKrupp to respond with production cuts. In the current fiscal year are expected Schulz declining revenue. "This will result reflected accordingly." For years, ThyssenKrupp thanks to the global steel boom, a record profit after another retracted. In the past fiscal year, sales increased to 53.4 (51.7) billion. The bottom line deserved ThyssenKrupp 2.28 (2.19) billion. The shareholders as a dividend in the previous year of 1.30 euros per share. The industry likes to as the "Iron Ekki" designated chief executive, the annual costs by more than one billion and possibly lower investment in a magnitude of around 500 million euro move. "They are not deleted, but a half or one year stretched," said Schulz. The planned steel plants in Brazil and the United States should in any case to be finalized. "We are firmly convinced that ES 2010 goes up again." THYSSENKRUPP collects MEDIUM-TERM FORECAST Schulz Sheehan the previous medium-term forecast of 2009/10 will be consolidated on a turnover of 60 billion, an EBT before exceptional items of four billion euros achieved. As a medium-to longer-term goal although he gave a turnover from 60 to 65 billion euros and a pre-tax profit four to five billion euros. To a year to Schulz, but did not specify. "2012/13, it is likely to not be achieved."