bold spirit - ArcelorMittal South Africa

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100 ArcelorMittal South Africa Annual Report 2010 Supplementary information JSE securities exchange statistics Exchange statistics 2010 Rm 2009 Rm Year ended 31 December 2008 Rm 2007 Rm 2006 Rm 2005 Rm Number of ordinary shares traded (m) 217 291 348 251 248 294 Number of transactions (’000) 283 321 308 136 90 87 Value of ordinary shares traded (Rm) 19 384 27 740 54 435 31 887 18 069 15 953 % of issued shares traded (Rm) 54 73 78 56 56 66 Year-end market price/headline earnings ratio (times) 23.1 (99.0) 4.2 10.6 9.3 5.4 Headline earnings yield at year-end (%) 4.3 (1.0) 24.1 9.4 10.8 18.6 Dividend yield at year-end (%) 1.9 8.0 3.1 3.5 6.2 Market price per ordinary share (cents) – year-end 7 922 10 300 8 845 13 650 9 825 6 125 – highest 11 745 12 796 26500 15300 9 900 6 930 – lowest 7 115 6 120 5 865 9 153 5 640 4 160 – weighted average price per share trade 8 933 9 533 15 642 12 704 7 286 5 426 Year-end market price/net equity per ordinary share (times) 1.41 1.88 1.41 2.96 1.88 1.40 Market capitalisation at year-end (Rm) 31 783 41 324 39 427 60 845 43 795 27 302 ArcelorMittal share price index (base: 2004=0) 129 157 307 474 341 213 JSE Actuaries index – Industrial (base 2004=0) 167 221 246 299 259 188 Net asset value versus share price (cents) 5 147 4 618 6 280 2006 2007 2008 2009 2010 Net asset value Share price (year-end) 5 465 5 622
101 ArcelorMittal South Africa Annual Report 2010 Definitions Cash and cash equivalents Cash and cash equivalents include cash on hand, deposits held at call with banks, and other short-term highly liquid investments with original maturities of three months or less, which are subject to an insignificant risk of changes in value. Current ratio Current assets divided by current liabilities. Current liabilities include short-term borrowings and interest-free liabilities other than deferred taxation. Dividend cover Headline earnings per ordinary share divided by dividends per ordinary share. Dividend yield Dividends per ordinary share divided by the year-end share price at the JSE Limited. Earnings per ordinary share • Attributable earnings basis Basic earnings attributable to ordinary shareholders divided by the weighted average number of ordinary shares in issue during the year. • Headline earnings basis Earnings attributable to ordinary shareholders adjusted for profits or losses on items of a capital nature recognising the taxation and minority impacts on these adjustments divided by the weighted average number of ordinary shares in issue during the year. • Diluted earnings basis Earnings attributable to ordinary shareholders divided by the weighted average number of ordinary shares in issue during the year increased by the number of additional ordinary shares that would have been outstanding assuming the conversion of all dilutive potential ordinary shares. EBITDA margin Earnings before interest, taxation, depreciation and amortisation as a percentage of revenue. Financial cost cover Net operating profit divided by net financing costs. Financial gearing (debt-equity ratio) Interest-bearing debt less cash and cash equivalents as a percentage of total shareholders’ equity. Headline earnings yield Headline earnings per ordinary share divided by the year-end share price at the JSE Limited. Invested capital Net equity, borrowings and other payables, finance lease obligations, non-current provisions and deferred taxation less cash and cash equivalents. Net assets Sum of non-current assets and current assets less all current interestfree liabilities. Net asset turn Revenue divided by closing net assets. Net equity per ordinary share Ordinary shareholders’ equity divided by the number of ordinary shares in issue at the year-end.
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Annual Report 2010 bold spirit
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I in brief
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Brand values Our goal is to provide
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Financial features Headline earning
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2 ArcelorMittal South Africa Annual
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11 ArcelorMittal South Africa Annua
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Commercial matters entrepreneurial
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bold spirit - ArcelorMittal South Africa

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