“The participation of the state could be a conceivable option,” she told the “Rheinische Post” (Saturday edition). State participations are not easy, because the state can get into conflicts of interest. “On the other hand, North Rhine-Westphalia certainly has a great interest in the necessary decarbonization not leading to the deindustrialization of the Ruhr area.” thyssenkrupp Steel needs capital to be able to make investments in the green steel.
She sees the question in good hands with Prime Minister Hendrik Wst (CDU): “The black-green state government is very aware of the problem, she sees the challenges of the Ruhr area. I experience Hendrik Wst’s great openness when it comes to finding solutions. I can believe it imagine that he will examine all conceivable options.”
Gather welcomes the fact that Group CEO Martina Merz is sticking to the spin-off despite the crisis: ?Despite the geopolitical uncertainties, the Management Board’s strategy of making steel independent and turning the group into a group of companies remains correct. The implementation of the strategy is going according to plan: the stainless steel plant in Italy has been sold and preparations for Nucera’s IPO are progressing. Now the group is working on the details of the steel spin-off.?
On the question of whether the shareholders will decide on a spin-off at the general meeting in the spring, Gather said: “I don’t want to speculate about dates. One thing is clear: everyone involved wants to go this route and have already taken it.”
Gather, on the other hand, comes up with criticism when it comes to dividends. “For 2022, like all thyssenkrupp shareholders, we will probably forego a dividend again, it would be the third year in a row without a dividend and the fifth in ten years. Of course, this cannot go on like this,” she said. The foundation is counting on the fact that there will be another distribution in 2024 for 2023. In addition, the head of the foundation assumes that thyssenkrupp will soon put the burning of money behind it. “The group is clearly in the process of stopping the outflow of funds.” There are also now positive effects from the rate hike the European Central Bank. This relieves thyssenkrupp somewhat, since the pension burden would be lower. Because of the gas crisis, the group is already looking for ways to save.
The Krupp Foundation holds 21 percent of thyssenkrupp. Gather has served as Chair of the Foundation’s Board of Trustees since 2013.
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