The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Dominic O'Kane - JPMorgan Chase & Co, Research Division - Analyst
: I just wanted to maybe expand on the previous question a little bit. Could you maybe just help us with some real-time commentary on current
markets? So I suppose specifically within Steel Europe, to what extent your contract structures will help insulate you from some of the weaker steel
prices that we're seeing at the moment? And then also, just maybe some real-time commentary on automotive. That would be very helpful.
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: Yes. Again, auto. So can you remind us what was it positive onetime effect on the Q2 results? And can you give us the status of the current negotiation
about a possible joint venture with a Japanese partner, therefore the steering business? This is the first question.
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: Then I have 2 questions regarding the balance sheet. And you said that rising interest rates resulted in a EUR 350 million impairment for Steel
Europe. Can you give us some kind of a closer idea of what part of steel was Steel Europe was affected?
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: So you cannot directly link it to any kind of special plant or activity?
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: Okay. [So it] would help for any partnership going forward and you have a lower book value. But last one is, again, on pensions. Do you have any
kind of -- or do you see any kind of changes in your possible plans, externalized pensions or whatsoever due to the rise in interest rates at lower
pensions on the balance sheet? Or is it still pending maybe or mostly linked to the future of Steel Europe? What you will do going forward.
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MAY 11, 2023 / 9:00AM, TKAG.DE - Half Year 2023 thyssenkrupp AG Earnings Call
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: Okay. What would be a major trigger for any kind of decision?
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: Maybe an additional one on your -- you have stakes in Elevator in the ALC part and so on. Do you have any plans for any kind of divestment for
that maybe to pay some kind of a higher dividend? No?
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: Are you able to do that if you want to?
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: Okay. What is the return on these assets?
Question: Christian Obst - Baader-Helvea Equity Research - Analyst
: And Ms. Merz, all the best for your future also.
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MAY 11, 2023 / 9:00AM, TKAG.DE - Half Year 2023 thyssenkrupp AG Earnings Call
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