Annual Report 2012 Full version PDF Download - Bekaert

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13 Segment Performance Bekaert Annual Report 2012 Segment Performance EMEA North America Latin America Asia Pacific
14 EMEA Bekaert Annual Report 2012 EMEA Market developments The tire manufacturers also saw their European sales figures drop in 2012, not only because of the sluggish OEM market but also due to a global delay of tire replacement, especially in southern Europe. Some tire makers therefore downsized their manufacturing capacity in EMEA. Bekaert was, however, able to secure its market share and continued the future-oriented development programs with its customers. Other steel wire products with an important aftermarket such as wiper blades, performed well throughout 2012. Energy markets fuel performance … Demand continued to be strong in markets of oil and gas extraction, power distribution, and other energy-related applications. Bekaert’s armoring wires for overhead power cables and submarine power distribution, flat and shaped wires for offshore pipes and wedge filters, as well as anchorage rope wires for oil platforms, all performed well in 2012. … but shadow on solar industry remains Combined sales: Capital expenditures (PP&E): Total assets: € 1 040 million € 39 million € 758 million Employees: 6 000 Automotive markets shift into lower gear The automotive industry is a large user of Bekaert’s steel wire products. Both in the original equipment and replacement markets, Bekaert serves a wide range of customers. The economic conditions in 2012 were unfavorable and pushed demand down for our products serving the OEM markets. Demand for new cars and commercial vehicles in the EU reached the lowest level recorded since 1995 and reflected a substantial decrease year-on-year. Most countries saw their markets contract, with vehicle sales in southern European countries sliding to their lowest levels in decades. This had an impact on, amongst others, spring wires and diesel particulate filter media. The one big exception in energy-related markets was the solar industry. The entire supply chain of the European PV solar market saw its business further decline in 2012. The sawing wire market in Europe has become a shadow of its former self. Most wafer makers have stopped their production activities in the region or have ceased to exist. Bekaert announced on 2 February 2012, a major restructuring program with actions directly related to the changed solar market. This program included measures to rightsize Bekaert’s global sawing wire operations. More specifically in Europe, and in Belgium in particular, the plan drastically decreased our activity scope and employment in production, technology and engineering. Building the foundations for further growth Bekaert’s business platform targeting European construction markets withstood the continued difficult market circumstances well and gained market share by offering product innovations and optimal service in the many infrastructure and construction segments it serves. Demand was particularly strong for Bekaert’s Dramix® steel fibers for concrete reinforcement. The Dramix® fibers portfolio has been substantially extended in 2012 with the launch of the 3D-4D-5D fiber series. The addition of the new fiber types takes concrete reinforcement to the next performance class. Previously unknown levels of anchorage, tensile strength and ductility guarantee the best possible solution for an ever wider range of applications.
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 and 10: 6 Bekaert Group Executive Bekaert A
Page 11 and 12: 8 Our Strategy Bekaert Annual Repor
Page 13 and 14: 10 Our Strategy Bekaert Annual Repo
Page 15: 12 Industry offerings Agriculture B
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
Page 61 and 62: 2 Financial Review Bekaert Annual R
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8 Financial Review Bekaert Annual R
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10 Financial Review Bekaert Annual
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NV Bekaert SA President Kennedypark
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