OneSteel Sustainability Report 2010 (PDF) - Arrium

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OneSteel
Sustainability
Report 2010
Economic
1 2
Our Approach
Economic Value Management
at OneSteel
As a listed ASX company OneSteel
has a range of governance
processes in place at a board level
to help manage the creation and
distribution of economic value. For
further information on the overall
governance and management of
OneSteel please refer to our 2010
Annual Report.
Our Performance
Our Results for the 2010 financial year are detailed in OneSteel’s Annual
Report. The following are the results at a glance:
Statutory FY10 $M FY09 $M Change %
Sales Revenue 6,205 7,242 (14)
EBITDA 638 597 7
EBIT 423 395 7
Net Profit After Tax 258 230 12
Operating Cashflow 602 368 64
Net Debt 964 1,224 21
Gearing
(net debt/net debt + equity) 18% 22% (4 pts)
Earnings per share
(weighted average) 19.5c 22.6c (14)
Underlying FY10 $M FY09 $M Change %
Sales Revenue 6,205 7,242 (14)
EBITDA 618 661 (7)
EBIT 414 461 (10)
Net Profit After Tax 241 215 12
Operating Cashflow 653 365 79
Net Debt — including Hedging 1,007 1,305 23
Gearing — including Hedging
(net debt/net debt + equity) 18% 23% (5 pts)
Earnings per share —
including Hedging (weighted
average) 18.2c 21.2c (14)
The following table is prepared to show the “Direct economic value generated”
for the 2010 financial year in accordance with the GRI framework using data
extracted from the company’s financial statements.
Direct economic value generated
Revenues
(Total Income)*
Economic value distributed
Operating
costs
Employee
wages and
benefits
Payments
to providers
of capital^
Description FY10 FY09
Net sales plus revenues
from financial investments
and sale of assets 6,260.9 7,307.8
Payments to suppliers,
non‐strategic investments,
royalties, and facilitation
payments**
Total monetary outflows
for employees — current
payments
(5,605.4) (7,029.8)
All financial payments
made to the providers of
the organisation’s capital (212.0) (343.8)
Payments to
government + Gross taxes 47.0 (66.3)
Community
Investments OneCommunity 0.2 0.2
Community
Investments
Other voluntary
contributions and
investment of funds in the
broader community 0.3 0.4
Total (5,769.9) (7,439.3)
Economic
value retained
* Total Income, Note 4 Full Financial Report
** Cash Flow Statement — Payments to
suppliers and employees
Economic value generated
less Economic value
distributed 489.8 (131.5)
^ Interest and other costs of finance paid
(Cash flow) + dividends (Note 23)
+ Cash Flow Statement — Income Taxes paid