bold spirit - ArcelorMittal South Africa

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40 ArcelorMittal South Africa Annual Report 2010 Operational review Flat Carbon Steel Products
41 ArcelorMittal South Africa Annual Report 2010 Net operating profit– Flat Steel Carbon Products (Rm) 3 644 4 827 7007 -614 347 2006 2007 2008 2009 2010 We produce flat steel products at our Vanderbijlpark and Saldanha operations. Vanderbijlpark Works is the largest supplier of flat steel products in sub-Saharan Africa with an annual capacity of 4.4 million tonnes of liquid steel. This is cast into slabs and hot-rolled into heavy plates or coils. These are sold as hot-rolled strip or, through further processing, into cold-rolled and coated products such as tinplate and hot-dip galvanised, electro-galvanised and prepainted sheet. Vanderbijlpark Works meets more than three quarters of South Africa’s flat steel product requirements. Saldanha Works, which produces thin-gauge and ultra-thin-gauge hot-rolled coil for domestic and select export markets, is one of only a few steel mills in the world to have a continuous production chain that does not require coke ovens and blast furnaces. Saldanha Works can produce 1.2 million tonnes of liquid steel per annum giving the group a combined capacity of 5.7 million tonnes for flat steel products. Markets Domestic Despatches of flat steel products to the domestic market in 2010 were 12% higher than in 2009. The main reasons Markets % of total sales 2010 2009 Geographical sales distribution South Africa 70 73 Rest of Africa 18 16 Asia 12 11 Local market segmentation (%) of total sales Building and construction 34 36 Pipe and tube (welded) 24 23 Packaging 17 15 Automotive 14 12 Mining, energy, water, chemicals and gas 4 7 Furniture and appliances 3 3 Machinery and equipment 2 2 Agriculture 1 1 Transportation 1 1 for the increase are due to restocking during the first half of 2010 and a 25% jump in household spending on durable goods during the first three quarters of 2010. The ratio of domestic sales to emphasising our strategy to remain focused on the African region. Our net realised export prices in US Dollar terms in 2010 were on average 37% higher than in 2009. total sales declined from 73% in 2009 to 70% in 2010. The Flat Steel Carbon Products segment posted a R347 million operating profit International Exports of flat products also increased substantially from 27% in 2009 to 30% in 2010. Exports outside the African continent increased marginally from 11% in 2009 to 12% in 2010 during the year compared with a loss of R614 million in 2009, due mainly to higher sales volumes and prices. Costs were negatively affected due to higher iron ore and local coal prices. These were partially offset by lower import coking
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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Financial statements optimistic spi
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