Thyssenkrupp's CFO confirmed that the company is working to spin off its warship division, after Carlyle pulled out of a bid last week. The group has set a realistic date for such a move, 2026, as an example.

A spin-off within the next calendar year is ambitious, in my opinion. "My guess would be around 2026 but we'll see," Jens said. He added that the government was to buy a stake in ThyssenKrupp Marine Systems as part of a new deal.

Carlyle, state lender KfW and Carlyle were all set to buy a majority stake in TKMS. However, the U.S. investors pulled out last week, leaving Thyssenkrupp with no choice but to find alternatives for TKMS. The company makes submarines, frigates and other military equipment.

Schulte stated that "we are being approached by a variety of parties both nationally and international with regards to possible partnerships or tie ups." He added that the image of defense companies has improved in recent years.

He stated that while a spinoff of TKMS remained Thyssenkrupp's preferred option, it could change plans if a better opportunity to create value arose.

Schulte who became finance chief of Thyssenkrupp at the end of June also mentioned the possibility that shareholders could receive dividends. He said the company is in a good position to pay a dividend, but it's up to the Supervisory Board to decide.

According to LSEG's estimates, Thyssenkrupp will pay a dividend per share of 0.16 euro for fiscal 2023/24, an increase from the 0.15 euro paid the year before.

Speaking ahead of the full-year results, scheduled for November 19, Schulte said that the group's performance in the fourth quarter had been strong. He added that the group was aiming to achieve a return on sale of 4%. This is up from the current 1.5%.

"Thyssenkrupp has a strong substance." We are well positioned in many strategic areas." (Reporting and editing by Sandra Maler; Tom Kaeckenhoff, Christoph Steitz)

(source: Reuters)