OYAK ERDEM‹R - ERDEMİR

More documents

Recommendations

Info

ANNUAL REPORT 1 - 2 3 - 4 5 - 6 7 - 8 9 - 12 13 - 14 15 - 22 23 - 30 31 - 36 37 - 42 43 - 48 49 - 56 57 - 62 63 - 109 CHAIRMAN’S MESSAGE CHIEF EXECUTIVE OFFICER’S MESSAGE BOARD OF DIRECTORS-EXECUTIVE MANAGEMENT GROUP COMPANIES AND PRESIDENTS ERDEMIR GROUP STRATEGIC RESTRUCTURING WORLD STEEL INDUSTRY PRODUCTION SALES INVESTMENTS HUMAN RESOURCES SUSTAINABILITY CORPORATE GOVERNANCE FINANCIALS
1 Dear Shareholders, Chairman’s Message Radical changes the iron and steel industry underwent over the last few years remained throughout 2007. This year a number of mergers among the leading players became official, and consolidation took place among the raw material suppliers. Steel prices increased steadily primarily due to higher raw material and freight costs. Erdemir Group adapted its business policies to these relentless conditions in its second year within <strong>OYAK</strong> family. The Group, with its strong and capable management team, effectively executed its recently formulated corporate strategies, and locked onto success by closely monitoring industry developments and taking timely actions. Erdemir Group has focused on profitability and operational productivity, and continued to create value for its shareholders. Our accomplishments have been acknowledged by the international credit rating agencies and Erdemir Group has been rated equal to the sovereign by both Moody’s and Standard & Poor’s. These ratings mark the solid financial structure and core values of our Group despite the challenging and dynamic competitive conditions and high investment costs in the steel industry. Erdemir Group ranked 8 th among the steel producers of EU-27 with 5,4 million tons of crude steel production. We believe our Group’s competitiveness would increase once the modernization and capacity expansion investments come to an end at the Ere¤li and ‹skenderun plants. In 2007, most of investments at Ere¤li plant were completed, while ‹skenderun plant’s investments have reached a 75% completion level. Our primary operational objectives for 2008 are to produce first hot rolled coil in Iskenderun, start up a new blast furnace that has been designed and built by Erdemir Group engineers at Ere¤li plant, and initiate Turkey’s largest iron ore investment to date.
Page 6 and 7: Over the next few years, we expect
Page 8 and 9: TRY 679 million net profit recorded
Page 10 and 11: 2 3 Executive Management 5 4 Esat G
Page 12 and 13: Group Companies ‹skenderun Demir
Page 14 and 15: SUBSIDIARIES ‹SDEM‹R (92,91%) E
Page 16 and 17: ERENCO Erdemir Group’s engineerin
Page 18 and 19: Erdemir Group’s accession to OYAK
Page 20 and 21: World Steel Industry
Page 22 and 23: Derivative Markets for Steel Anothe
Page 24 and 25: EU-27 16% Turkey 2% CIS 9% USA 7% O
Page 26 and 27: Global Apparent Steel Consumption (
Page 28 and 29: Production
Page 30 and 31: Upon completion of ongoing investme
Page 32 and 33: Ere¤li Plant Production Records 20
Page 34 and 35: ‹skenderun Plant Production Recor
Page 36 and 37: Sales
Page 38 and 39: FLAT PRODUCTS Thanks to solid domes
Page 40 and 41: Profile Manufacturers 25% Mat-Wire,
Page 42 and 43: Investments
Page 44 and 45: • BOF modernization to produce th
Page 46 and 47: Continuing Invesment Projects in 20
Page 48 and 49: Human Resources
Page 50 and 51: Number of Trainings 12.439 ERE⁄L
Page 52 and 53:
Training Our fully equipped trainin
Page 54 and 55:
Sustainability
Page 56 and 57:
Similar improvements also took plac
Page 58 and 59:
Quality, Technology and R&D Thanks
Page 60 and 61:
Corporate Social Responsibility Act
Page 62 and 63:
Corporate Governance
Page 64 and 65:
Amendments to the Articles of Assoc
Page 66 and 67:
An Audit Committee was established
Page 68 and 69:
Financial Report
Page 70 and 71:
THE AUDITOR’S REPORT ON FINANCIAL
Page 72 and 73:
The Company has also filed a new an
Page 74 and 75:
LIABILITIES ERE⁄L‹ DEM‹R VE
Page 76 and 77:
ERE⁄L‹ DEM‹R VE ÇEL‹K FABR
Page 78 and 79:
Page 80 and 81:
Page 82 and 83:
Page 84 and 85:
Page 86 and 87:
Page 88 and 89:
Page 90 and 91:
Page 92 and 93:
Page 94 and 95:
Page 96 and 97:
Page 98 and 99:
Page 100 and 101:
Page 102 and 103:
Page 104 and 105:
Page 106 and 107:
Page 108 and 109:
Page 110 and 111:
Page 112 and 113:
The dates and results of examinatio
show all

OYAK ERDEM‹R - ERDEMİR

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?