bold spirit - ArcelorMittal South Africa

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2 ArcelorMittal South Africa Annual Report 2010 Group review at a glance 2010 Rm 2009 Rm Year ended 31 December 2008 Rm 2007 Rm 2006 Rm 2005 Rm GROUP INCOME STATEMENTS Revenue 30 224 25 598 39 914 29 301 25 350 23 984 Profit/(loss) from operations Flat Carbon Steel Products 347 (614) 7 007 4 827 3 644 4 518 Long Carbon Steel Products 826 315 3 672 2 652 2 111 2 109 Coke and Chemicals 985 449 1 743 727 184 301 Corporate and Other (7) 79 (263) (503) 143 (34) Total 2 151 229 12 159 7 703 6 082 6 894 (Losses)/gains on changes in foreign exchange rates and financial instruments (150) (813) 637 (131) 301 246 Net financing (cost)/income (288) (77) 80 325 193 (29) Income from investments 2 3 3 4 7 5 Income from equity-accounted investments (net of tax) 122 206 331 270 135 277 Income tax expense (492) (35) (3 865) (2 455) ( 2022) (2 327) Impairment reversal 9 36 Adjustments to attributable income for headline earnings 32 38 103 25 34 25 Headline earnings/(loss) 1 377 (440) 9 484 5 741 4 730 5 091 Headline earnings/(loss) per share (cents) 343 (104) 2 128 1 288 1 061 1 139 Dividends per share (cents) 150 707 429 347 380 STATEMENT OF CASH FLOWS Cash flows from operating activities 1 337 1 693 5 578 4 623 3 463 2 616 Capital expenditure (1 714) (914) (1 832) (1 852) (1 446) (1 608) Investments (120) (524) (16) Other 128 91 19 116 183 49 Net cash flows (369) 346 3 765 2 871 2 200 1 057 Operating income and operating margin Cash flow from operating activities and capex 6 082 2006 7 703 2007 12 159 2008 Operating income (Rm) Operating margin (%) 229 2009 2 151 2010 3 463 2006 4 623 2007 5 578 2008 Operating income (Rm) Capex 1 693 2009 1 337 2010
3 ArcelorMittal South Africa Annual Report 2010 2010 Rm 2009 Rm Year ended 31 December 2008 Rm 2007 Rm 2006 Rm 2005 Rm GROUP STATEMENT OF FINANCIAL POSITION ASSETS Non-current assets Property, plant and equipment 16 432 15 862 15 917 15 525 14 973 14 260 Intangible assets 84 72 71 58 58 74 Equity-accounted investments 2 386 2 369 1 968 1 109 953 912 Other financial assets 208 187 203 195 134 61 Current assets Cash and cash equivalents 3 506 4 348 8 429 4 034 7 750 5 219 Other 9 102 7 946 10 847 7 284 7 307 5 811 Total assets 31 718 30 784 37 435 28 205 31 175 26 337 EQUITY AND LIABILITIES Capital and reserves Total shareholders’ equity 22 556 21 925 27 995 20 583 23 260 19 451 Non-current liabilities Borrowings and other payables 224 220 273 52 61 71 Non-current provisions 1 499 1 420 1 661 1 290 1 327 1 288 Finance lease obligations 515 557 314 328 502 596 Deferred income tax liability 2 354 2 435 2 526 2 603 2 485 2 007 Current liabilities Borrowings and other payables 88 153 100 10 10 10 Finance lease obligations 59 57 40 88 93 89 Other 4 423 4 017 4 526 3 251 3 437 2 825 Total equity and liabilities 31 718 30 784 37 435 28 205 31 175 26 337 Revenue and total assets Net cash 25 350 29 301 39 914 25 598 30 224 7 679 3 972 8 056 3 975 3 194 2006 2007 2008 2009 2010 2006 2007 2008 2009 2010 Revenue (Rm) Total assets (Rm) Net cash (Rm)
Page 1 and 2: Annual Report 2010 bold spirit
Page 3 and 4: I in brief
Page 5 and 6: Brand values Our goal is to provide
Page 7: Financial features Headline earning
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Page 45: Commercial matters entrepreneurial
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Financial statements optimistic spi
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