Arcelor Mittal Activity Report 2006 - paperJam

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Contents01 Arcelor Mittal: A Winning Strategy02 Portrait of the Group – 200604 Chairman’s Statement06 Message from the President and CEO10 Questions for the CEO12 Questions for the Group Management Board16 2006 Monthly Highlights18 Global Presence20 Board of Directors24 The Group Management Board26 Management Committee32 Company Profile and Global Business Strategy36 Health and Safety38 Performance EnhancementOperational Review40 Flat Carbon Americas42 Asia, Africa, Commonwealth of Independent States (AACIS)44 Long Products, AM3S, Wire Drawing48 Flat Europe, Automotive, Plates, R&D52 Portfolio – Corporate Functions54 Integration Review60 Technology and Innovation62 HR Policy and Skills Development66 Environment68 Communities74 Corporate Governance88 Market Information90 Key Operating SubsidiariesFinancial and Legal InformationArcelor Mittal Pro Forma Consolidated Statements – Unaudited94 Consolidated Statements of Income95 Consolidated Statements of Cash Flows96 Key Financial and Operational InformationMittal Steel N.V. Consolidated Financial and Other Information98 Consolidated Balance Sheets99 Consolidated Statements of Income Data & Other Information100 Consolidated Statements of Cash Flows101 Auditors’ ReportThe financial information in the Arcelor Mittal Activity Report 2006 has beenprepared in accordance with International Financial Reporting Standards as adoptedby the European Union. This financial information does not contain completeinformation related to the statutory account of Mittal Steel Company N.V.,which must be adopted at the Annual General Meeting of shareholders pursuantto Dutch law. A copy of the Dutch statutory accounts can be obtained free of chargeby contacting the registered office of Mittal Steel Company N.V., Hofplein 20,15th floor, 3032 AC Rotterdam, The Netherlands, or by contacting theABN AMRO Service Desk at +31 (0)76 579 9455.All figures relating to Arcelor Mittal are pro forma (unaudited).The pro forma information reflects the combined businessas if the acquisition of Arcelor and its subsidiaries had taken placeat the beginning of the period presented.
Arcelor Mittal Activity Report 2006 01Arcelor Mittal: A Winning StrategyArcelor Mittal is the number one steelcompany in the world, with 320,000employees in more than 60 countries.Created from the merger between Arcelorand Mittal Steel, the Group is the leaderin all major global customer segments,including automotive, construction,household appliances and packaging.Arcelor Mittal has leading Researchand Development (R&D) and technology,sizeable captive supplies of raw materialsand outstanding distribution networksto support its production process forminga truly integrated business model.With an industrial presence in 27 European,Asian, African and American countries,the company has a substantial presencein all the key steel markets providinggeographic as well as product diversity.Arcelor Mittal will now be looking tofurther build on its leading positionboth organically and by acquisition,particularly in high-growth developingmarkets. The company believes thatglobalisation and consolidation are theonly way forward to ensure long-termsustainability and maintain profitability,throughout variable steel cycles.Such a global presence brings considerablesocial responsibility. Arcelor Mittalis a responsible, community-mindedorganisation which places considerableemphasis on critical functions includingHealth and Safety, Environment andCorporate Social Responsibility.Quality is another area of particularfocus for the company. The Group’sinvestments in innovation and Researchand Development benefit customersand drive improved competitiveness.Arcelor Mittal produces a diversifiedportfolio of quality products and servicesto meet a wide range of customers’ needsacross all steel consuming industries.Strong relationships with customers arefurther strengthened by innovative R&Dfacilities satisfying the most sophisticatedcustomer demands.These investments also provideopportunities for worldwide operations,so as to enhance and share best practices.The company recognises the importanceof intelligence sharing and exchangingideas between business segments toimprove business performance.The merger has also boosted financialstrength and sustainability. The year 2006pro forma financials show combinedrevenues of US$88.6 billion, with a crudesteel production of 118 million tonnes,representing around 10 per cent of worldsteel output. On a pro forma basis,the company has now reported EBITDAof approximately US$15 billion for the pastthree years, demonstrating how the newlydiversified geographic and product profileis helping deliver sustainable results.Arcelor Mittal believes this winning strategyhas not only created the market leadingposition enjoyed today, but ideally positionsthe company to lead the steel industry intoa new phase of quality and sustainability.
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Financial Results21st February 2007
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NotesArcelor Mittal Activity Report
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