Annual Report 2003 2004

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52 Our future potential ThyssenKrupp’s future depends on its performance. Our products and services have to compete on the world’s markets every day. Behind every new contract and every new idea are people who work hard for their Company and see their own future as linked with that of ThyssenKrupp. That’s why we encourage the commitment and creativity of our employees – to the benefit of all concerned. We also look beyond our own Company and provide support where it is needed – promoting cultural, sporting, academic or social activities. You will find further details in the following section.
Responsibility for the future As a supplier of high-quality industrial products and services, ThyssenKrupp operates in a field of tension between the interests of various stakeholders, including stockholders, creditors, suppliers, customers, employees, external partners, government authorities, private organizations, parties, trades unions and associations. Balancing these interests in the overall context of corporate responsibility is a constant challenge. Sustainable profits are the key to a successful future for any company. Profits secure the company’s existence and its ability to carry on meeting its customers’ needs. Profits secure dividend payments and enhance the value of the company in the interests of its stockholders. Profits secure jobs and ensure the company can pay taxes as well as make voluntary contributions to the community. That’s why we strive to expand our potential and make all our actions as efficient and sustainable as possible. Investments, innovations, a commitment to training, jobs and the community as well as constant improvements to the business portfolio make ThyssenKrupp a committed and responsible corporate citizen wherever it operates. Continuous portfolio optimization Through the growth of markets, our segments and subsidiaries have developed into global players, serving customers around the world with high-quality products and services. In addition to our firm customer focus and our pursuit of cost reductions through higher production volumes, we concentrate the Group’s activities on regional growth markets – a good current example being China. This calls for a high level of flexibility: only by constantly reviewing and developing our business portfolio can we strengthen our capabilities and invest selectively in growth areas – through organic growth or acquisitions. On the other hand, even successful companies sometimes have to leave the Group if they do not fit in with our core business areas – the focus of our investment spending – and would have better chances for long-term development under different ownership. Since the merger in 1999, we have sold companies with total sales of €4.8 billion and acquired others with sales of €5.6 billion. For an overview of our portfolio management in the past fiscal year, please turn to pages 35-37. Even when withdrawing from specific areas of activity, the Group does not neglect its responsibilities. We always strive to find best-owner solutions, i.e. the new owner must see our “marginal” activity as part of its “core” business and thus as a strategic step toward improving its own market and production base. The divested companies are then able to exploit their potential appropriately in the new alliance. Transparent communications are an important part of our best-owner approach: the supervisory bodies of the subsidiaries concerned, with their local employee representatives, and the works councils are involved in any forthcoming changes as early as possible. The workforces are also informed openly about the industrial strategy and prospects for future development at the first possible opportunity. 53 Our future potential Responsibility for the future ThyssenKrupp provides support where the Group is active.
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Future Technology. ThyssenKrupp Ann
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C/2 ThyssenKrupp in brief ThyssenKr
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I Letter to stockholders Your Thyss
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III Letter to stockholders What are
Page 13: 03-22 To our stockholders 23-50 Bus
Page 16 and 17: 04 0 To our stockholders In fall 20
Page 18 and 19: 06 Executive Board and Supervisory
Page 20 and 21: 08 Report by the Supervisory Board
Page 22 and 23: 10 The Annual General Meeting re-el
Page 24 and 25: 12 Dr. h.c. Friedel Neuber, member
Page 26 and 27: 14 Executive Board compensation is
Page 28 and 29: 16 Supervisory Board compensation i
Page 30 and 31: 18 ThyssenKrupp stock Climbing more
Page 32 and 33: 20 ThyssenKrupp stock is included i
Page 34 and 35: 22 Our ir work won several awards.
Page 36 and 37: 24 Business performance ThyssenKrup
Page 38 and 39: 26 World crude steel production exc
Page 40 and 41: 28 Order intake and sales improved
Page 42 and 43: 30 Crude steel production at Thysse
Page 44 and 45: 32 Market position in Asia signific
Page 46 and 47: 34 Chemical and cement plant busine
Page 48 and 49: 36 The contracts on the German ship
Page 50 and 51: 38 The use of e-procurement reduced
Page 52 and 53: 40 Our products and processes contr
Page 54 and 55: 42 Steelmaking base in Duisburg mod
Page 56 and 57: 44 All segments increased their ear
Page 58 and 59: 46 distribution will be adjusted ac
Page 60 and 61: 48 The boom on the steel market wil
Page 62 and 63: 50 No supply bottlenecks are expect
Page 66 and 67: 54 The ThyssenKrupp Innovation Cont
Page 68 and 69: 56 NewSteelBody attracting major in
Page 70 and 71: 58 ThyssenKrupp moving walks are fa
Page 72 and 73: 60 Zinc helps reinforced concrete l
Page 74 and 75: 62 ThyssenKrupp supports Tongji Uni
Page 76 and 77: 64 The best projects cover a broad
Page 78 and 79: 66 Several university chairs are su
Page 80 and 81: 68 More than 60,000 visitors made o
Page 82 and 83: 70 Business areas and segments Thys
Page 84 and 85: 72 Steel aims to defend its leading
Page 86 and 87: 74 Automotive sees growth potential
Page 88 and 89: 76 Exploiting cross-selling potenti
Page 90 and 91: 78 The shipyards in Hamburg, Emden
Page 92 and 93: 80 More than 125,000 articles avail
Page 94 and 95: 82 Extensive improvement programs a
Page 96 and 97: 84 How hard is it to turn TECHNOLOG
Page 98 and 99: 86 Education Environment Knowledge
Page 100 and 101: 88 1 Innovation. Materials Steel sh
Page 102 and 103: 90 OFFERING PROTECTION The view thr
Page 104 and 105: 92 PROMOTING EFFICIENCY Innovative
Page 106 and 107: 94 2 SUSANNE SCHLEGEL, NOTHELFER In
Page 108 and 109: 96 SIMPLIFYING PROCESSES Thanks to
Page 110 and 111: 98 INCREASING COST EFFECTIVENESS WO
Page 112 and 113: 100 3 Innovation. Communication Fir
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102 CREATING UNDERSTANDING From the
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104 UNLOCKING POTENTIAL Complex tec
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106 What idea do you have?
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108 Financial report Some people re
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110 The results of Stainless Steel
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112 compared to the previous year,
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114 The roce is compared to the wei
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116 The discontinued operations use
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118 Trade accounts payable increase
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120 summarized first by currency an
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122 The strongly export-dependent G
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124 In order to further lower the d
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126 Auditors’ Report We have audi
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128 ThyssenKrupp ag Consolidated Ba
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130 ThyssenKrupp ag Consolidated St
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132 Notes to the consolidated finan
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134 Research and development costs
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136 Accrued pension and similar obl
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138 actuarially equivalent to the b
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140 The final purchase price alloca
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142 In September 2004, the Steel se
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144 Due to the fact that the Group
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146 The following table reconciles
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148 NOTES TO THE CONSOLIDATED BALAN
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150 Consolidated Fixed Assets Sched
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152 11 Operating lease as lessor Th
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154 The contractual maturities of d
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156 Dividend proposal The Executive
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158 million € Change in projected
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160 in % The Group applied the foll
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162 in % Weighted-average assumptio
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164 Restructuring measures are bein
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166 As of September 30, 2004, Thyss
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168 The terms of these guarantees d
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170 The intention of currency hedgi
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172 The notional amounts of the der
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174 30 Segment reporting According
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176 Segment information by products
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178 Segment information by geograph
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180 OTHER INFORMATION 33 Earnings p
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182 Inventory valuation Lower of co
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184 Scope of consolidation Under Ar
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186 3. OTHER DIRECTORSHIPS HELD BY
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188 4. OTHER DIRECTORSHIPS HELD BY
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190 5. WAIVE OF DISCLOSURE PURSUANT
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192 ThyssenKrupp Federn GmbH Hagen
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194 Additional information Any info
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196 ThyssenKrupp Group Ecomomic val
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198 Company (as of September 30, 20
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200 Company (as of September 30, 20
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202 Glossary A Average collection p
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204 Contact/2005/2006 dates For mor
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Ideas are soon forgotten if you don
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Annual Report 2003 2004

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