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Outlook 2005 van ThyssenKrupp

1. sunnyb0y 14 februari 2005 13:35

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   • sunnyb0y

     Lid sinds: 29 sep 2003

     Laatste bezoek: 13 nov 2023

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   Outlook
   The world economic upswing will continue in 2005. However, the pace of growth in the usa and Asia is expected to slow somewhat. We do not anticipate any radical improvement in the economic situation in the euro zone and Germany. In addition to the geopolitical situation, the main economic risks continue to lie in the development of raw material and energy prices and the euro-dollar exchange rate.
   
   We expect the following developments on the major markets:
   
   The boom on the international steel market will continue this year. The key factor will remain the high growth in Chinese demand, though this is expected to slacken slightly. The situation on the raw material markets will therefore remain tight and result in continuing high raw material costs and steel prices. Overall, we anticipate world crude steel production of approximately 1,090 million metric tons in 2005, 5% more than in 2004. In Germany, production is expected to increase to 47 million tons compared with 46.5 million tons in 2004.
   World auto production is forecast to rise to almost 67 million vehicles in 2005. The main source of this 4% growth will be China and the other Asian countries. Car production in Germany will experience model-related growth, but the boom in heavy trucks is expected to abate.
   The expectations for the German mechanical engineering industry are also positive. A 3% production increase appears realistic in 2005. Growth will also continue in the usa, Japan and China, though at a slightly lower rate than in 2004. Demand for machine tools is expected to grow strongly.
   The situation for the German construction industry remains difficult. A marked weakening is expected in the usa. The prospects for the markets in Central and Eastern Europe and Asia remain more favorable.
   If these economic forecasts prove accurate, we expect the encouraging business performance to continue on the whole in the further course of the year. For the full year we plan sales in the magnitude of just over ?41 billion. This figure does not include portfolio changes. In terms of earnings before taxes, excluding the effects of major disposals and restructuring measures, we aim to surpass the very good level of 2003/2004.
   
   Source: Interim Report 1st quarter 2004/2005, page 17
   
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