Half Year 2020 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 : Few questions about the market, a few structural things. First of all, something very simple. The order of magnitude of depreciation, so can we take 2 times EUR 150 million for the total year? That's my first question. The second question goes on the election of cash flow, inventories. Inventories were more or less unchanged. First half year receivables is minus 300, payable is only half of that. So the inventory policy for the second half year, what -- how can it be expected under the expected cash flow from these 3 areas? Then a brief question on intangibles, what is the proportion of the CO2 certificates in this field? And the fourth and last question is around the CO2 reduction. You have shown the entire framework very well. You are very well underway in this area. Are there any binding promises of contributions of third states? Or do you expect in the next 12 months concrete promises and funding in terms of the policy of CO2 reduction for your group?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Can you mention in order of magnitude, as a follow-up question, as to how high the subsidies are, probably a low double-digit million amount? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. AUGUST 12, 2020 / 11:00AM, SZGG.DE - Half Year 2020 Salzgitter AG Earnings Call

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : And the last question was about the intangibles. Apart from the CO2 certificates, how high was that ratio?