Half Year 2023 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. One housekeeping question concerning industrial participation and consolidation. Can you give us some kind of an idea of what kind of valuation of derivative position and net interest drove the negative result in the second quarter? And can we also expect something to happen going forward? Or is that some kind of a onetimer? The first question.

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. Maybe a little bit the other way around. The minus EUR 18.7 billion EBT in the second quarter for industrial participation and others, what are the main contributors to that negative result? Can you give us some kind of a breakdown?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Yes. And this means, in the end, we can calculate overhead costs, including interest and others, is a minus EUR 20 million on a quarterly basis. Is that the right assumption?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. Then I have a question concerning you said that you are making some kind of an ongoing portfolio review of Salzgitter. Is there something more to come in the coming quarters? Or have you seen something where you say, okay, that might not match into our portfolio, and we have to adjust that going forward?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Okay. And I assume that I will get the same answer for the next question almost. So is there any new about -- or an update about the talks about HKM together with thyssenkrupp?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : Of course, makes sense. Are you talking in parallel to the government for some kind of a support for that possible transformation of HKM?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : And the last question is concerning refinancing of the entire group. So going forward, are you thinking about some additional funding going forward to tapping the bond market or some other activities? Or do you stay to the current structure of refinancing?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : And what would you like most?

Question: Christian Obst - Baader-Helvea Equity Research - Analyst : And of course, you are not changing your view on your 10% treasury shares, I would think.