We have achieved a lot on the path of the strategic way forward so far.
We sold what then constituted a quarter of Group sales, put an end to the loss-making Steel Americas venture and swapped out 70% of management, which opened the door to root-and-branch cultural change.
We multiplied Group EBIT sixfold and reduced net debt by two-thirds.
The final step in the process was the agreement with Tata on our European steel joint venture. Under that joint venture, we ensured that our European steel business once again has a future. The businesses that remain are less vulnerable to cyclical fluctuations, leaving our balance sheet stronger.
So we have already come a very long way. But we are not yet where we want to be. With the new set-up of thyssenkrupp, we are now building on our strengths without losing sight of our weaknesses. Above all, however, we are building on what we have achieved in recent years.