Full Year 2025 thyssenkrupp nucera AG & Co KgaA Earnings Call Transcript

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

Question: Martin Wilkie - Citi - Analyst : It's Martin from Citi. The question I had was on the pipeline. You've given some updated numbers on the -- both the pipeline and the actively pursued projects. Now we know the industry has obviously changed over the course of 2025. But when you considered the new pipeline, in terms of the surety that some of those contracts will actually end up being signed across the industry and will go ahead as opposed to being canceled. How have you gone through that in terms of ensuring that what is still considered actively pursued is still sort of economically viable from the customer's perspective and therefore, is likely to convert at some point over the next few years?

Question: Martin Wilkie - Citi - Analyst : That's helpful. And in terms of the timing, obviously, you've given order guidance for next year, which understandably is a very wide range. What is the trigger, if you like, that is going to drive an order you book next year or not? I mean a lot of the regulatory backdrop is now a lot clearer than it was, say, 12 months ago. But are there other factors that are causing an order to be signed in January 2025 '26, rather than, say, a year later? LSEG STREETEVENTS | www.lseg.com | Contact Us consent of LSEG. 'LSEG' and the LSEG logo are registered trademarks of LSEG and its affiliated companies. DECEMBER 17, 2025 / 7:00AM, NCH2.DE - Full Year 2025 thyssenkrupp nucera AG & Co KgaA Earnings Call