Full Year 2022 Salzgitter AG Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Yes. Hello. Do you hear me?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. Perfect. First, I'd like to have a question concerning your financing going forward. If I calculate it right, your gross debt is approximately EUR 1.7 billion so far, of which EUR 1.2 billion is approximately current. So -- and the average coupon on that, if I calculate with the EUR 80 million interest expenses, is a 4.6% coupon. So what do you expect going forward to pay for your interest expenses? And do you think about the entire financing also of SALCOS going forward to reorganize your debt structure a little bit towards more capital market instruments? This is the first question.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Of course. In addition on that, am I right that most of the current refinancing is -- has a flexible coupon in this time of rising interest rates?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. And then last question on this cash item. How much cash do you need for your current business? So for the normal operating business.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : No, no, not the CapEx. But you need a certain cash to run the business operationally, so EUR 300 million, EUR 400 million whatsoever. without the prior written consent of Thomson Reuters. 'Thomson Reuters' and the Thomson Reuters logo are registered trademarks of Thomson Reuters and its affiliated companies. MARCH 27, 2023 / 12:00PM, SZGG.DE - Full Year 2022 Salzgitter AG Earnings Call

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. And you stated a little bit concerning demand, so it's better when it comes to the auto industry, everything around the plate industry. And on the lower end, you see the Peiner. Do you see that there's something which can go even worse when it comes to Peiner so that you're going into some kind of to not fully employ all the employees during the entire year, some kind of short working?