The following is excerpted from the question-and-answer section of the transcript.
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Question: Tom Zhang - Barclays Services Corp - Analyst
: Yeah. Hi, thanks for taking our questions. Two for me as well, please. First one, just following up on the guidance and Steel Europe. There's a very
wide range, right, that you've kept the EUR250 million to EUR500 million on EBIT. Could you just talk us through what assumptions you might have
to hit the bottom or the top end of that guidance and basically why that range wasn't narrowed? And maybe you can, if possible, clarify just how
many provisions are currently built in for those negotiations, that you mentioned, we might get some provision release, maybe any color there.
And then the second question just around Marine Systems. So you mentioned around IFRS 15 clarifying the allocation of contractual obligations.
Could you just let us know one of these links to some of the recent contracts you booked this year, or are they from all the contracts? And could
you also just clarify that there's no actual change to your obligations. This is purely a sort of timing of revenue recognition issue. There's no actual
change in your -- what the project actually entails. Thank you.
Question: Tom Zhang - Barclays Services Corp - Analyst
: Yeah, thank you. So it was just the IFRS 15 adjustment that you made. Could you just clarify, it's a purely timing of revenue recognition. So as an
accounting thing, there's no actual change to your obligations because when it says, clarifying the contractual obligations, just wondering if there's
something that's actually different with the project or it's a pure accounting issue.
Question: Tom Zhang - Barclays Services Corp - Analyst
: Okay, that's clear. Thank you. And then maybe if I can just follow up just on the Steel segment. So I see there's this EUR550 million to EUR100 million
provision released, but I guess the EUR500 million full year number at the top end would be over EUR300 million EBIT in Q4. I mean, are there any
other levers that we're missing that means that might actually be possible? Or do you think towards the middle or the lower end of the Steel Europe
guidance is reasonable?
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AUGUST 14, 2025 / 9:00AM, TKAG.DE - Q3 2025 thyssenkrupp AG Earnings Call
Thank you.
Question: Tom Zhang - Barclays Services Corp - Analyst
: Okay, fair enough. Thank you.
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