2005-2006 Financial Statements and Management Report

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86 AUDITORS’ REPORT We have audited the annual financial statements, comprising the balance sheet, the income statement and the notes to the financial statements, together with the bookkeeping system, and the management report of the ThyssenKrupp AG, Duisburg and Essen, for the business year from October 1, 2005 to September 30, 2006. The maintenance of the books and records and the preparation of the annual financial statements and management report in accordance with German commercial law are the responsibility of the Company’s management. Our responsibility is to express an opinion on the annual financial statements, together with the bookkeeping system, and the management report based onWe conducted our audit of the annual financial statements in accordance with § 317 HGB [“Handelsgesetzbuch” “German Commercial Code”] and German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, financial position and results of operations in the annual financial statements in accordance with principles of proper accounting and in the management report are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Company and expectations as to possible misstatements are taken into account the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures in the books and records, the annual financial statements and the management report are examined primarily on a test basis within the framework of the audit. The audit includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the annual financial statements and management report. We believe that our audit provides a reasonable basis for our opinion. Our audit has not led to any reservations. In our opinion, based on the findings of our audit, the annual financial statements comply with the legal requirements and give a true and fair view of the net assets, financial position and results of operations of the Company in accordance with principles of proper accounting. The management report is consistent with the annual financial statements and as a whole provides a suitable view of the Company’s position and suitably presents the opportunities and risks of future development. Düsseldorf, November 13, 2006 KPMG Deutsche Treuhand-Gesellschaft Aktiengesellschaft Wirtschaftsprüfungsgesellschaft Reinke Nunnenkamp Wirtschaftsprüfer Wirtschaftsprüfer
EXECUTIVE BOARD DR.-ING. EKKEHARD D. SCHULZ Chairman AXA Konzern ag* Bayer ag* MAN ag (Chair) * RAG ag (Vice Chair) RWE ag* RAG Beteiligungs-GmbH (Vice Chair) Within the Group: ThyssenKrupp Automotive ag (Chair) ThyssenKrupp Elevator ag (Chair) ThyssenKrupp Services ag (Chair) DR. ULRICH MIDDELMANN Vice Chairman Commerzbank ag* E.ON Ruhrgas ag LANXESS ag* LANXESS Deutschland GmbH RAG ag Hoberg & Driesch GmbH (Chair) RAG Beteiligungs-GmbH Within the Group: ThyssenKrupp Stainless ag (Chair) ThyssenKrupp Steel ag (Chair) ThyssenKrupp Technologies ag (Chair) Grupo ThyssenKrupp s.a. (Spain) ThyssenKrupp Acciai Speciali Terni S.p.A. (Italy) ThyssenKrupp (China) Ltd. (PR China) DR. OLAF BERLIEN Within the Group: ThyssenKrupp Automotive ag ThyssenKrupp Marine Systems ag (Chair) ThyssenKrupp Services ag Berco S.p.A. (Italy, President) ThyssenKrupp (China) Ltd. (PR China, Chairman) EDWIN EICHLER Within the Group: ThyssenKrupp Elevator ag ThyssenKrupp (China) Ltd. (PR China) GARY ELLIOTT Within the Group: FINANCIAL STATEMENTS AND MANAGEMENT REPORT Auditors’ Report/Executive Board 87 ThyssenKrupp Stainless ag Grupo ThyssenKrupp s.a. (Spain) ThyssenKrupp (China) Ltd. (PR China) ThyssenKrupp Dongyang Elevator Co., Ltd. (Korea) ThyssenKrupp Elevator Americas Corp. (usa, Chairman) ThyssenKrupp Elevator Asia Pacific Ltd. (PR China) ThyssenKrupp Elevator Southern Europe, Africa & Middle East, s.l. (Spain) JÜRGEN H. FECHTER Within the Group: ThyssenKrupp Nirosta GmbH (Chair) ThyssenKrupp Technologies ag ThyssenKrupp VDM GmbH (Chair) Grupo ThyssenKrupp s.a. (Spain) Shanghai Krupp Stainless Co., Ltd. (PR China, Vice Chairman) ThyssenKrupp Acciai Speciali Terni S.p.A. (Italy, President) ThyssenKrupp (China) Ltd. (PR China) ThyssenKrupp Mexinox s.a. de c.v. (Mexico, Chairman) DR. A. STEFAN KIRSTEN Within the Group: ThyssenKrupp Automotive ag ThyssenKrupp Elevator ag ThyssenKrupp Marine Systems ag ThyssenKrupp Reinsurance ag (Chair) ThyssenKrupp Steel ag ThyssenKrupp Budd Company (usa) ThyssenKrupp Risk and Insurance Services GmbH (Chair) DR.-ING. KARL-ULRICH KÖHLER BASF Coatings ag Bürgerstiftung Duisburg gem. ag (Chair) Hüttenwerke Krupp Mannesmann GmbH (Vice Chair) ANSC-TKS Galvanizing Co., Ltd. (PR China, Vice Chairman) Steel 24-7 n.v. (Belgium) Within the Group: Eisen- und Hüttenwerke ag (Chair) Hoesch Hohenlimburg GmbH (Chair) Rasselstein GmbH (Chair) ThyssenKrupp Automotive ag ThyssenKrupp CSA Companhia Siderúrgica (Brazil) RALPH LABONTE Zoo Duisburg ag PEAG Personalentwicklungs- und Arbeitsmarktagentur GmbH (Chair) Within the Group: Polysius ag Rothe Erde GmbH ThyssenKrupp Automotive ag ThyssenKrupp Marine Systems ag ThyssenKrupp Steel ag Berco S.p.A. (Italy) DR.-ING. WOLFRAM MÖRSDORF GETRAG Getriebe- und Zahnradfabrik Hermann Hagenmeyer GmbH & Cie. kg INPRO Innovationsgesellschaft für fortgeschrittene Produktionssysteme in der Fahrzeugindustrie mbH Within the Group: ThyssenKrupp Bilstein Suspension GmbH (Chair) ThyssenKrupp Drauz Nothelfer GmbH (Chair) ThyssenKrupp Services ag ThyssenKrupp Budd Company (usa, Chairman) ThyssenKrupp (China) Ltd. (PR China) ThyssenKrupp Fabco Corp. (Canada) ThyssenKrupp Presta ag (Liechtenstein) ThyssenKrupp Sofedit s.a.s. (France, Chair) ThyssenKrupp Waupaca, Inc. (usa) Membership of statutory supervisory boards within the meaning of Art. 125 of the German Stock Corporation Act (AktG) (as of September 30, 2006) * Exchange-listed company Membership of comparable German and non-German control bodies of business enterprises within the meaning of Art. 125 of the German Stock Corporation Act (AktG) (as of September 30, 2006)
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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
Page 34 and 35:
32 SERVICES ALMOST DOUBLED ITS PROF
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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 86 and 87: 84 22 TAXES ON INCOME Taxes on inco
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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