Engineering
Engineering
Engineering
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Management report on the Group<br />
2.4 2.4 Management Management report on on the Group Financial position<br />
position<br />
Financial position<br />
We are strengthening the company and its core business with<br />
customer-oriented investments, decreasing net debt and secured<br />
liquidity. Our statement of cash flows provides transparency about<br />
the sources and uses of our funds. The impact of these cash flows<br />
on the Group’s assets and liabilities is shown in the analysis of the<br />
statement of financial position.<br />
Pages 51-52<br />
50–51<br />
Steel Steel Europe Europe invested invested €410 €410 million million – – –<br />
mostly mostly on on maintenance maintenance and and environmental<br />
projects.<br />
environmental projects.<br />
Capital expenditures<br />
84 | 85<br />
85<br />
Capital expenditures at €2.8 billion<br />
In In fiscal year 2010/2011 ThyssenKrupp invested a total of of €2,771 million, 21% less than in in the prior year.<br />
€2,661 million was spent on property, plant and equipment and intangible assets. €110 million was used for<br />
the acquisition of of businesses and shareholdings as well as other financial assets; the main acquisitions are<br />
detailed in in the section “The Group’s Strategic Way Forward”.<br />
Excluding the major projects in in Brazil and the USA, capital expenditures totaled €1,247 million, compared<br />
with €1,188 million in in the prior year. Capital expenditures were €19 million lower than depreciation of of<br />
€1,266 million.<br />
Investment by business area in in million € €<br />
2009/2010 2010/2011 Change in in %<br />
Steel Europe 286 431 51<br />
Steel Americas 2,054 1,369 (33)<br />
Materials Services 188 136 (28)<br />
Elevator Technology 81 135 67<br />
Plant Technology 32 47 47<br />
Components Technology 288 361 25<br />
Marine Systems 8 14 75<br />
Corporate 268 36 (87)<br />
Consolidation (36) (24) —<br />
Investments of of continuing operations 3,169 2,505 (21)<br />
Stainless Global 344 266 (23)<br />
ThyssenKrupp Group 3,513 2,771 (21)<br />
Capital expenditures in in the business areas<br />
Steel Europe – The business area’s capital expenditures on property, plant and equipment and intangible<br />
assets reached €410 million, with depreciation at at €530 million. This was a significant increase from the low<br />
level of of the prior year, when we invested only €286 million due to to the economic crisis. The greater part of of<br />
our spending was for maintenance and environmental projects to to reduce emissions at at the Duisburg and<br />
Dortmund sites. Other investments related to to hot strip mill 2 in in Duisburg, where an efficient compact cooling<br />
system was installed for the production of of high-quality skelp. Work also started in in Duisburg on the<br />
modernization of of hot strip mill 1. A total of of roughly €300 million is is to to be invested in in the German hot strip<br />
mills by 2014/2015 under an overall program.