2005-2006 Financial Statements and Management Report

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84 22 TAXES ON INCOME Taxes on income include own corporation and trade tax for the past 2005/2006 fiscal year arising after offsetting against the tax loss carryforwards from the previous year, as well as tax refunds for previous years. Income taxes impact income from ordinary activities in the amount of €125.1 million and extraordinary income in the amount of €49.1 million. 23 AUDITORS’ FEES For the services of the auditors KPMG Deutsche Treuhand-Gesellschaft, Aktiengesellschaft, Wirtschaftsprüfungsgesellschaft in the 2005/2006 fiscal year and the previous period, the following fees were stated as expenses: million € Audit of financial statements Other audit-related or valuation services Tax consultancy services Other services Total 2004/2005 2.1 0.1 0.1 0.1 2.4 2005/2006 The auditors’ fees include above all the fee for the audit of the parent-company and consolidated financial statements of ThyssenKrupp ag, as well as the auditors’ review of the interim reports. The variance against the previous year is attributable in the amount of €0.9 million to the additional services performed in 2004/2005 in connection with the audit of the ifrs opening balance sheet and the review of the individual quarters. 1.0 0.2 0.1 0.9 2.2 The fees for audit-related services mainly include the fees for advice relating to the accounting for ongoing and planned business transactions. The fees for tax consultancy are in particular fees for tax advisory services relating to advice given to employees on foreign assignments. The other fees are mainly fees for project-related advisory services. 24 SUPERVISORY BOARD AND EXECUTIVE BOARD COMPENSATION Total compensation to the members of the Executive Board for the 2005/2006 fiscal year amounts to €23.1 million (previous year €12.4 million). In addition, the Executive Board members received €7.2 million from the payout of the 5th installment of the ltmi and the 1st installment of the mti. Total compensation to former members of the executive boards of Thyssen ag and Fried. Krupp ag Hoesch-Krupp and their survivors amounts to €12.1 million (previous year €10.0 million). Pension obligations to former members of the Executive Board and their survivors are accrued in the amount of €131.3 million (previous year €105.9 million). For the 2005/2006 fiscal year, compensation to the members of the Supervisory Board on the basis of the proposed dividend of €1.00 per share including attendance fees amounts to €2.7 million (previous year €2.3 million). The members of the Executive Board and Supervisory Board are presented on pages 87-89. 25 GERMAN CORPORATE GOVERNANCE CODE ThyssenKrupp ag complies with all recommendations of the Government Commission on the German Corporate Governance Code as amended on June 12, 2006, published by the Federal Ministry of Justice in the official section of the electronic Federal Gazette (“Bundesanzeiger”), and also complied with all recommendations of the Code in the period from October 01, 2005 to July 24, 2006 (Code version of June 02, 2005) and from July 25 to September 30, 2006 (Code version of June 12, 2006, published on July 24, 2006).
26 PROPOSED PROFIT APPROPRIATION The net income from fiscal 2005/2006 is to be used to pay a dividend of €1.00 per eligible share. Shares of treasury stock are not eligible for dividend. The number of shares eligible for dividend distribution may change before the Annual General Meeting. In this case the profit appropriation proposed to the Annual General Meeting will be adjusted accordingly. The Executive Board and Supervisory Board therefore propose to the Annual General Meeting to appropriate the net income from fiscal 2005/2006 in the amount of €547,768,971.00 as follows: Payment of a dividend in the amount of €1.00 € per eligible share: €488,764,592.00 Allocation to retained earnings: €33,279,927.00 Amount to be carried forward: €25,724,452.00 Düsseldorf, November 13, 2006 ThyssenKrupp ag The Executive Board Schulz Middelmann Berlien Eichler Fechter Kirsten Köhler Labonte Mörsdorf FINANCIAL STATEMENTS AND MANAGEMENT REPORT Notes 85
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2005 - 2006 Financial Statements an
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02 BUSINESS AREAS AND ORGANIZATIONA
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04 OVERVIEW OF THE COURSE OF BUSINE
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06 NICKEL ALLOYS AND TITANIUM MILL
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08 THYSSENKRUPP ACHIEVED A SIGNIFIC
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10 €489 MILLION OF UNAPPROPRIATED
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12 INVESTMENTS IN GROWTH AREAS STRE
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14 FUEL PRICE INCREASES PUSHED UP T
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16 WE HAVE DEVELOPED A PLANT FOR CO
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18 STEEL ACHIEVED A PROFIT OF €1.
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20 A STRONG MARKET REVIVAL AND INNO
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22 IN MEXICO, HIGH-VALUE PRODUCTS A
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24 AUTOMOTIVE CONTINUED ITS PORTFOL
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26 TECHNOLOGIES ENJOYS SUCCESS ON T
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28 THE LARGEST LATHE IN NORTHERN EU
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30 ACQUISITIONS IN THE USA, ASIA AN
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32 SERVICES ALMOST DOUBLED ITS PROF
Page 36 and 37: 34 CORPORATE INCLUDES VARIOUS SERVI
Page 38 and 39: 36 OUR CONTROL SYSTEM FOR LASER WEL
Page 40 and 41: 38 TO DATE, ALMOST 300 PROJECTS HAV
Page 42 and 43: 40 OCCUPATIONAL SAFETY HAS IMPROVED
Page 44 and 45: 42 OUR EXECUTIVE POLICY IS BASED ON
Page 46 and 47: 44 FINANCIAL POSITION The Group’s
Page 48 and 49: 46 INTANGIBLE ASSETS INCLUDE GOODWI
Page 50 and 51: 48 THE THYSSENKRUPP BRAND WAS FURTH
Page 52 and 53: 50 WE HAVE SEVERAL STRATEGIC OPTION
Page 54 and 55: 52 OUR INTEGRATED CONTROL CONCEPT S
Page 56 and 57: 54 GROWTH, EFFICIENCY AND OPTIMIZAT
Page 58 and 59: 56 OVER 60% OF BEST PROJECTS TAKE P
Page 60 and 61: 58 COMPENSATION REPORT THE BONUS AM
Page 62 and 63: 60 THE LTMI EXPIRED WITH PAYMENT OF
Page 64 and 65: 62 THE SECURITY OF THE INFORMATION
Page 66 and 67: 64 THE AREAS OF ACTIVITY OF THE SEG
Page 68 and 69: 66 THE RISKS TO THE THYSSENKRUPP GR
Page 70 and 71: 68 VEHICLE PRODUCTION REMAINS A GLO
Page 72 and 73: 70 THE NUMBER OF EMPLOYEES WILL RIS
Page 74 and 75: 72 BALANCE SHEET Assets million €
Page 76 and 77: 74 NOTES GENERAL ThyssenKrupp ag is
Page 78 and 79: 76 FIXED ASSETS SCHEDULE in million
Page 80 and 81: 78 Disclosures on the volume of tre
Page 82 and 83: 80 million € Bonds Liabilities to
Page 84 and 85: 82 Foreign currency derivatives The
Page 88 and 89: 86 AUDITORS’ REPORT We have audit
Page 90 and 91: 88 SUPERVISORY BOARD PROF. DR. H.C.
Page 92 and 93: 90 LIST OF EQUITY INTERESTS Compani
Page 94 and 95: 92 Companies (As of September 30, 2
Page 102: 100 CONTACT/2007/2008 DATES For mor
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2005-2006 Financial Statements and Management Report

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