Annual Report 2010 - Outokumpu

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186 EU average LTI From statistics supplied by World Steel Association. Member companies follow the definition of Lost Time Injury of the World Steel Association in their reporting. Near miss incidents Near miss incidents refer to incidents that could have led to an accident, but no injury took place. The number of incidents is collected for all Group companies in the financial consolidation system. The source of information is Outokumpu's safety reporting system. Sick leave days Sick leave days reported are total sick leave days during the reporting period. Reporting units report data on sickness absence and occupational diseases on a monthly basis together with financial reporting. In the future, sick leave days will be reported per million hours worked, not in percentages. Personnel figures Similarly with previous years, the full-time equivalent (FTE) is used to calculate personnel figures. An FTE 1.0 equals to one person working full-time hours per week. Usually it means 37.5 hours per week, but this differs by country. No subcontractors or outsourced persons are included. Individuals on Outokumpu's payroll but not working due to, for example, military service or maternity leave, are not included in the figure. As of 2011, Outokumpu will start to report actual headcount figures, as recommended by assurance providers. Total personnel costs The figure includes wages, salaries, bonuses, social costs or other personnel expenses and fringe benefits paid and accrued for during the reporting period. Training costs Training costs include external training related expenses like participation fees. Wages and salaries and daily allowances of the participant are not included in the figure. Salaries of internal trainers are included. Training days per employee The number of actual training days in which 8 hours equals one day. Incentive bonuses Bonus is an extra payment due to good performance. The figure is reported without social costs or fringe benefits. Personnel turnover (termination and recruitment turnover separately) (Newly hired + leavers)/(2x year end headcount) Based on the recommendation from assurance providers, we have changed the divider to 2x the year end headcount, instead of 2x average headcount. (Full-time equivalent on December 31, 2010). Days lost due to strikes Outokumpu Annual Report 2010 – Outokumpu – Reporting principles
187 Days lost due to strikes is calculated by multiplying the number of employees, who have been on strike by scheduled working days. The count begins the day that the strike has started. Outokumpu Annual Report 2010 – Outokumpu – Reporting principles
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Annual Report 2010
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Table of contents Outokumpu - an in
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Group Executive Committee .........
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1 Outokumpu - an international stai
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3 CEO's review 2010 was characteris
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5 Next steps The managerial agenda
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7 Group key figures 2010 2009 2008
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9 Strategic themes Outokumpu's stra
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11 Excel in operations Safe working
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13 Management discussion of financi
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15 € million Operating profit Gen
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17 When the additional ferrochrome
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19 also resulted in a substantial i
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21 Group earnings per share totalle
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23 € million Stainless steel base
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25 Developing Outokumpu's corporate
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27 A significant proportion of Outo
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29 Market position In recent decade
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31 amount of stainless steel consum
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33 General Stainless - high-quality
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35 An efficient, integrated single-
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37 chromium ore was found to extend
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39 Long Products Sheffield The Shef
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41 Specialty Stainless key figures
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43 Special Coil and Plate Special C
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45 Outokumpu Stainless Tubular Prod
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47 Group level functions Outokumpu'
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49 Headquarters in Belgium Outokump
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51 Expansion of our service centre
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53 Supply Chain Management Procurem
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55 50% compared to 2009. The ferroc
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57 Research and development Product
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59 perfectly safe for use in equipm
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61 Stainless is optimal for sustain
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63 Environmental goals and results
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65 Results 2010 Sheffield melt shop
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67 Until the beginning of 2009, sla
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69 Material balance Materials used,
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71 Improving waste handling and pre
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73 Primary actions included in the
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75 Despite of protective actions ag
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77 Stainless steel in innovations a
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79 Emissions and effluents One of O
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81 ficiation and clarification basi
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83 Water - a natural resource for c
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85 Water withdrawal and discharges
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87 studies monitoring the prevailin
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89 Environmental investments furthe
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91 Outokumpu and stakeholders The s
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93 Goals for 2011 Improve HR report
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95 Personnel facts and figures Outo
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97 The US 330 321 403 Others 33 33
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99 Open communication Employee moti
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101 Compensation and benefits Outok
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103 Developing our people through c
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105 Health and safety Health and sa
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107 Everyone deserves a safe workin
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109 We value our stakeholders' opin
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111 Outokumpu and our customers - a
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113 Current and future employees Bo
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115 our home market Europe, resulte
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117 Production employees are repres
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119 Public sector support, sponsori
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121 Regulatory framework Outokumpu
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123 General Meeting of Shareholders
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125 To make other proposals to Gene
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127 Board committees The Board of D
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129 The CEO and Deputy CEO The Chie
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131 Group Corporate Management Outo
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133 Vice Chairman of the Board, Soi
Page 141 and 142: 135 Key aspects of internal control
Page 143 and 144: 137 Controller meetings were organi
Page 145 and 146: 139 Risk management Outokumpu opera
Page 147 and 148: 141 Strategic and business risks St
Page 149 and 150: 143 Operational risks Operational r
Page 151 and 152: 145 Both these financial risks and
Page 153 and 154: 147 Good level of environmental man
Page 155 and 156: 149 Climate change is taken serious
Page 157 and 158: 151 Ethics, corporate responsibilit
Page 159 and 160: 153 Internal audit monitors complia
Page 161 and 162: 155 Outokumpu Annual Report 2010 -
Page 163 and 164: 157 Solidium Oy 56 440 597 30.8 The
Page 165 and 166: 159 Board authorisations Board Auth
Page 167 and 168: 161 Shares subscribed with 2003B op
Page 169 and 170: 163 programme for the earnings peri
Page 171 and 172: 165 Information for shareholders An
Page 173 and 174: 167 Stock exchange releases 2010 2
Page 175 and 176: 169 Members of the Executive Commit
Page 177 and 178: 171 Responsibility: HR strategy and
Page 179 and 180: 173 Board member: Marzac Investment
Page 181 and 182: 175 Based on its own assessment, Ou
Page 183 and 184: 177 Risk management 4.10 Processes
Page 185 and 186: 179 8 EN15 Species with extinction
Page 187 and 188: 181 Human Rights Investment agreeme
Page 189 and 190: 183 Fines for non-compliance PR9* c
Page 191: 185 Measurement techniques Economic
Page 195 and 196: 189 • Tested the completeness, ac
Page 197 and 198: 191 8% from 2009. The clearly highe
Page 199 and 200: 193 Profitability Earnings per shar
Page 201 and 202: 195 During 2010, Outokumpu's net in
Page 203 and 204: 197 Outokumpu's strategic prioritie
Page 205 and 206: 199 Outokumpu is participating in t
Page 207 and 208: 201 Outokumpu has been systematical
Page 209 and 210: 203 completed in November 2010 and
Page 211 and 212: 205 Short-term outlook Following th
Page 213 and 214: 207 Opinion on the company's financ
Page 215 and 216: 209 Diluted earnings per share, €
Page 217 and 218: 211 Retained earnings 1 365 1 735 N
Page 219 and 220: 213 Proceeds from sale of property,
Page 221 and 222: 215 Key financial figures of the Gr
Page 223 and 224: 217 Quarterly information Income st
Page 225 and 226: 219 Share-related key figures 2010
Page 227 and 228: 221 Definitions of key financial fi
Page 229 and 230: 223 Income statement of the parent
Page 231 and 232: 225 Share capital 311 309 Premium f
Page 233 and 234: 227 Disposals of intangible assets
Page 235: Outokumpu is a global leader in sta
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Annual Report 2010 - Outokumpu

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