bold spirit - ArcelorMittal South Africa

146
ArcelorMittal South Africa
Annual Report 2010
Notes to the group and company annual financial statements continued
for the year ended 31 December 2010
Flat Carbon
Steel Products
2010
Rm
2009
Rm
Long Carbon
Steel Products
2010
Rm
2009
Rm
5. SEGMENTAL REPORT continued
Revenue
– External customers 18 848 15 889 8 976 8 112
– Intersegment customers 586 403 793 419
Total revenue 19 434 16 292 9 769 8 531
Distributed as:
– Local 14 529 13 053 6 258 5 695
– Export
Africa 2 722 1 782 1 715 1 725
Europe 4 3 64 105
Asia 1 593 1 051 487 503
Other 452 84
Results
Operating profit/(loss) before depreciation,
amortisation and impairments 1 1 442 381 1 090 591
Depreciation and amortisation (1 095) (995) (264) (250)
Impairment charge against property, plant
and equipment (26)
Segment profit/(loss) from operations 347 (614) 826 315
Finance and investment income
Finance costs (24) (34) (11) (28)
Income after tax from equity-accounted investments
Profit/(loss) before tax 323 (648) 815 287
Income tax expense
Profit/(loss) after tax
Segment assets 19 177 18 430 5 277 4 530
Investments in equity-accounted entities
Capital expenditure 1 147 630 457 271
Segment liabilities 8 483 7 997 4 335 3 810
Cash inflow/(outflow) from operations 1 144 2 260 789 1 726
Number of employees at year-end 5 145 5 123 2 580 2 708
1
Included in these amounts are expenses incurred in respect of inventory written down to net realisable value of which the
aggregate amounts are disclosed in note 7. The following amounts were written off per segment:
• Flat Carbon Steel Products: R118 million (2009: R1 835 million)
• Long Carbon Steel Products: R40 million (2009: R681 million)