Annual Report 2010 - Outokumpu

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226 Cash flow statement of the parent company € million 2010 2009 Cash flow from operating activities Profit for the financial year 63 16 Adjustments for Taxes 0 -1 Depreciation and amortisation 13 7 Impairments 10 346 Profit and loss on sale of intangible assets, property, plant and equipment -0 0 Interest income -42 -33 Dividend income -57 -411 Interest expenses 57 56 Change in provisions -1 0 Group contributions -0 - Exchange gains and losses 30 25 Other adjustments -2 1 9 -9 Change in working capital Change in trade and other receivables -71 80 Change in trade and other payables 10 -57 -60 22 Dividends received 57 411 Interest received 28 27 Interest paid -50 -80 Income taxes paid -1 24 34 381 Net cash from operating activities 46 410 Cash flow from investing activities Acquisition of subsidiaries and other shares and holdings -2 -2 Purchases of property, plant and equipment -4 -2 Purchases of intangible assets -21 -26 Proceeds from disposal of subsidiaries and other disposals 0 320 Proceeds from disposal of other shares and holdings 12 - Disposals of property, plant and equipment - 7 Outokumpu Annual Report 2010 – Financial Statements – Cash flow statement of the parent company
227 Disposals of intangible assets 9 0 Change in loan receivables -230 -30 Net cash from investing activities -235 267 Cash flow before financing activities -189 677 Cash flow from financing activities Borrowings of long-term debt 626 61 Repayments of long-term debt -96 -683 Change in current debt 137 -352 Dividends paid -64 -90 Cash flow from group contributions 0 326 Shares subscribed with options 10 4 Other financing cash flow -408 -42 Net cash from financing activities 205 -776 Net change in cash and cash equivalents 16 -99 Net change in cash and cash equivalents in the balance sheet 16 -99 Outokumpu Annual Report 2010 – Financial Statements – Cash flow statement of the parent company
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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
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135 Key aspects of internal control
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137 Controller meetings were organi
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139 Risk management Outokumpu opera
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141 Strategic and business risks St
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143 Operational risks Operational r
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145 Both these financial risks and
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147 Good level of environmental man
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149 Climate change is taken serious
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151 Ethics, corporate responsibilit
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153 Internal audit monitors complia
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155 Outokumpu Annual Report 2010 -
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157 Solidium Oy 56 440 597 30.8 The
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159 Board authorisations Board Auth
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161 Shares subscribed with 2003B op
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163 programme for the earnings peri
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165 Information for shareholders An
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167 Stock exchange releases 2010 2
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169 Members of the Executive Commit
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171 Responsibility: HR strategy and
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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 and 192: 185 Measurement techniques Economic
Page 193 and 194: 187 Days lost due to strikes is cal
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: 225 Share capital 311 309 Premium f
Page 235: Outokumpu is a global leader in sta
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