(adds further CFO comments, background and detail, share)
FRANKFURT, May 17 (Reuters) - ThyssenKrupp AG aims to cut its net debt to considerably below four billion euros ($4.81 billion) by the end of the fiscal year ending September 30, the German steelmaker said on Monday.
"By the end of the fiscal year we intend to reduce the net financial payables to significantly below four billion euros," Chief Financial Officer Stefan Kirsten told analysts during a conference, giving the first concrete timetable on its debt reduction plans.
The debt reduction could be achieved even without cash flow generated by future disposals, Kirsten said.
"We believe this company can run at a net debt level of something in the range of three to 3.5 billion," the CFO said, without providing further details.
Net debt amounted to 4.28 billion euros at the end of the company's second quarter.
The company released second quarter earnings on Friday, showing a 20 percent rise in pre-tax profit to 249 million euros, excluding the 129 million euro impact resulting from the sale of its Triaton IT-services unit.
Kirsten reaffirmed the company's mid-term guidance of turning an annual 1.5 billion euros pre-tax profit as soon as possible.
Thyssen intends to earn one billion euros before taxes and disposal gains on sales of 38 billion for the current fiscal year.
Earlier on Monday, the company said it had signed a letter of intent to acquire submarine builder HDW from One Equity Partners in exchange for 240 million euros and a 25 percent stake in the new shipbuilding company.