Annual Report 2012 Full version PDF Download - Bekaert

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7 Our Strategy Bekaert Annual Report 2012 Our Strategy Our profile Bekaert company profile Bekaert is a world market and technology leader in steel wire transformation and coatings. Bekaert (Euronext Brussels: BEKB) is a global company with headquarters in Belgium, employing 27 000 people worldwide. Serving customers in 120 countries, Bekaert pursues sustainable profitable growth in all its activities and generated combined sales of € 4.4 billion in 2012. Bekaert employs unique technologies to deliver a quality portfolio of drawn steel wire products and coating solutions on a global scale. We purchase more than 2.7 million tons of wire rod per year as our basic material. Depending on our customers’ requirements, we draw wire from it in different diameters and strengths, even as thin as ultrafine fibers of one micron. We group the wires into cords, weave or knit them into fabric or process them into an end product. Bekaert is unique for its combination of steel wire transformation and coating technologies, which brought forth a wide variety of products, tailored to our customers’ needs.
8 Our Strategy Bekaert Annual Report 2012 Global market leadership Ever since making its first investment in Latin America in 1950, Bekaert has shown its pioneering spirit by investing in growth markets worldwide. We set up operations in Latin America, Asia and Central Europe when early signs of opportunities appeared. Overall, our business platforms in growth markets account for about 70% of combined sales in 2012. In the mature markets, we continue to diversify our product offering and introduce innovations that add value in a highly competitive environment. In the EMEA region, Bekaert is present in both the mature Western European markets as well as the growth markets of Central and Eastern Europe. The mix of market maturity and the alignment of product offerings to local market needs are major reasons why Bekaert achieved stable sales volumes in Europe in 2012. The market demand in North America reflected a continued difficult economic environment in the US. The addition of the Canadian ropes activities to consolidated sales and favorable exchange rate movements offset the impact of the divested specialty films and industrial coatings activities in North America. In Latin America, Bekaert manufactures a broad product portfolio spread across the region: from wire and cord solutions for the automotive industry to barbed wire for agriculture, as well as ropes and meshes for mining and construction. This well balanced mix of markets and products resulted in a solid performance for the region in 2012. Bekaert increased its share in the Chilean partnership in which it now holds a majority stake. Sales in Asia were substantially lower as a result of the solar business collapse, which materially impacted the sawing wire activities in China. The other activity platforms recorded solid sales volumes, while operating in a highly competitive environment. Bekaert further invested in the region with capacity expansions in India and acquisitions in China and Malaysia. Bekaert will continue to pursue its strategy of global market leadership. We are ready to take on the challenges that lay ahead and to safeguard our global market leadership, also under highly volatile market conditions.
Page 1 and 2: Annual report 2012
Page 3 and 4: 25 sustainability 26 Our responsibi
Page 5 and 6: 2 Message from the Chairman and the
Page 7 and 8: 4 Board of Directors Bekaert Annual
Page 9: 6 Bekaert Group Executive Bekaert A
Page 13 and 14: 10 Our Strategy Bekaert Annual Repo
Page 15 and 16: 12 Industry offerings Agriculture B
Page 17 and 18: 14 EMEA Bekaert Annual Report 2012
Page 19 and 20: 16 North America Bekaert Annual Rep
Page 21 and 22: 18 Latin America Bekaert Annual Rep
Page 23 and 24: 20 Asia Pacific Bekaert Annual Repo
Page 25 and 26: 22 Innovation matters, more than ev
Page 27 and 28: 24 Optimizing production processes
Page 29 and 30: 26 Our responsibility in the workpl
Page 31 and 32: 28 Our responsibility in the commun
Page 33 and 34: 30 Report of the Board Bekaert Annu
Page 35 and 36: Keyfigurespersegment SalesEMEA Sale
Page 37 and 38: 32 Summary of financial review Beka
Page 39 and 40: 34 Board of Directors & Committees
Page 41 and 42: 36 Board of Directors & Committees
Page 43 and 44: 38 Executive Management Bekaert Ann
Page 45 and 46: 40 Remuneration Report Bekaert Annu
Page 47 and 48: 42 Remuneration Report Bekaert Annu
Page 49 and 50: 44 Shares and shareholders Bekaert
Page 51 and 52: 46 Shares and shareholders Bekaert
Page 53 and 54: 48 Conduct Policies Bekaert Annual
Page 55 and 56: 50 Internal control and risk manage
Page 57 and 58: 52 Elements pertinent to a take-ove
Page 59 and 60: 54 References Bekaert Annual Report
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2 Financial Review Bekaert Annual R
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NV Bekaert SA President Kennedypark
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