Engineering

08| 09
year just started. We, too, must proceed cautiously and will firm up our estimates quarter by quarter. But
we will continue to apply strict discipline in the areas of costs, capital spending and net working capital.
2012 will therefore be a challenging year for the Group. We will continue to pursue our Strategic Way
Forward, complete the current changes to our portfolio, establish Inoxum as an independent entity,
accomplish the technical ramp-up at Steel Americas, and further improve our financial situation. By doing
this we will create the basis for further sustainable growth.
Dividend: Continuity maintained
ThyssenKrupp generated solid operating earnings in 2010/2011 but also had to deal with negatives. Our
strategic tasks and the uncertain economic outlook will continue to demand a great deal of us. We have
carefully weighed all the circumstances and consider it important and legitimate to maintain our policy of
dividend continuity. At the Annual General Meeting in January 2012, the Executive Board and Supervisory
Board will therefore propose the payment of a dividend for the past fiscal year in the same amount as the
previous year, i.e. €0.45 per share.
I would like to take this opportunity to thank all those who have given our Company their trust and
support over the past fiscal year - kindly or critically, as shareholders or analysts, employees or customers,
representatives of government, media or the many community organizations with which we are in dialogue.
We will continue to work hard to earn your trust every day.
Yours sincerely,
Dr.-Ing. Heinrich Hiesinger
Chairman of the Executive Board
Essen, November 2011