ANNUAL REPORT ARCELOR 2003 - paperJam

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Key Figures for 2003Revenues (1) Revenues by sector (1)26,59425,923Flat Carbon Steels 13,994Distribution, Processing and Trading 7,954Long Carbon Steels 4,381Stainless Steels 4,280Others 8362002* 2003Intra-group sales (5,522)EBITDA (1)Breakdown of EBITDAby sector (1)1,9782,228Flat Carbon Steels 1,365Distribution, Processing and Trading 284Long Carbon Steels 4932002* 2003Stainless Steels 23Others 58Intra-group sales 5Net result(Group share) (1)Net resultper share (euros)Net financialdebt (1)Net financial debt/equity **5,9934,46474.4%54.8%2570.54(121)(0.25)2002*20032002* 20032002* 200331.12.2002* 31.12.2003(1) Millions of euros* Pro forma, unaudited** Including minority interest and residual negative goodwill (IFRS).14ANNUAL REPORT ARCELOR 2003
Revenues by geographic sales zoneOtherEurope4.3%8.2% North AmericaEBIT (1)European Union (15)75.7%Breakdown of EBITby sector (1)4.6% South America7.2% Rest of WorldResult beforetax (1)general information > key figures780738Flat Carbon Steels 774Distribution, Processing and Trading 125Long Carbon Steels 311393557Stainless Steels (463)2002* 2003Others (14)Intra-group sales 52002* 2003Employees by sectorBreakdown of employees by geographic zoneDistribution,Processingand Trading14,957Flat CarbonSteels48,020Long CarbonSteels17,913Stainless Steels14,231Other Europe829EuropeanUnion86,610North America2,671South America7,570Rest of World584Others3,143TOTAL 98,264 (end period number of employees)ANNUAL REPORT ARCELOR 2003 15
Page 1: ANNUAL REPORT ARCELOR 2003ANNUAL RE
Page 4 and 5: Message from the Chairman ofthe Boa
Page 6 and 7: Message from the Chairman ofthe Man
Page 8 and 9: Does this mean that the Group is en
Page 10 and 11: 8ANNUAL REPORT ARCELOR 2003
Page 12 and 13: Portrait of the GroupArcelor was bo
Page 14 and 15: The Arcelor/Nippon Steel Corporatio
Page 18 and 19: 2003 highlightsOn January 24, 2003,
Page 20 and 21: Corporate GovernanceBoard of Direct
Page 22 and 23: Report of the Chairman of the Board
Page 24 and 25: Role and authority of the Board of
Page 26 and 27: 4.2. The Audit Committee andthe App
Page 28 and 29: AuthorityThe powers of the Manageme
Page 30 and 31: B. Internal Control Procedures1. GO
Page 32 and 33: 3.3. Internal control procedures go
Page 34 and 35: Information regarding capital, mark
Page 36 and 37: Market informationListingArcelor sh
Page 38 and 39: Information policyArcelor intends t
Page 42 and 43: table of contents >Flat Carbon Stee
Page 44 and 45: Within this context, and in order t
Page 46 and 47: 3.3. Packaging steelsThe packaging
Page 48 and 49: table of contents >Long Carbon Stee
Page 50 and 51: 3. THE SECTOR’S PRODUCTS ANDMARKE
Page 52 and 53: table of contents >Stainless Steels
Page 54 and 55: The distribution of the UGINE & ALZ
Page 56 and 57: The adaptation plan - industrial re
Page 58 and 59: table of contents >Distribution-Pro
Page 60 and 61: 2. ORGANISATION OF THE SECTORThe ye
Page 62 and 63: Other ActivitiesThe “Other Activi
Page 66 and 67:
Group Consolidated Management Repor
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Trends in global crude steel produc
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Financial highlights for the GroupI
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Return on capital employed (ROCE) b
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BUSINESS BY SECTORFlat Carbon Steel
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Even though shipments in 2003 in th
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From a financial standpoint, and ex
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The Trading and Distribution busine
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- in September 2003, the sale of th
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The market tightness provoked by th
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Risk ManagementGeneral legal risks
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Group purchasing performanceIn addi
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88ANNUAL REPORT ARCELOR 2003
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Implementation of the Sustainable D
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Arcelor’s principles Principal ac
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Organisation of Sustainable Develop
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indicators 2002 2003Principle 4 - O
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Group profitabilityObjectives• Av
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Arcelor Health and Safety policyArc
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Safety certificationsSeveral Arcelo
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Arcelor Environmental PolicyArcelor
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Implementation of a monitoring plan
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Dialogue with all stakeholdersObjec
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Dialogue with societyArcelor partic
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Development of individual interview
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Scientific CouncilChairman:• Marc
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Corporate governanceObjectives• E
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SponsorshipEvery year, the various
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Durability: Manufacturers are now a
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GENERAL INFORMATION ABOUTARCELORCor
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Cold-rolled flat products: In 2001,
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Safeguard clause• United States:
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Consolidated financial statementsof
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CONSOLIDATED CASH FLOW STATEMENTIn
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NOTES TO THE CONSOLIDATED FINANCIAL
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Assets intended to be disposed of o
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AmortisationAmortisation is recogni
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13) EquityRepurchase of share capit
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18) Other provisionsA provision is
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The major changes in the consolidat
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NOTE 4 - INTANGIBLE ASSETSGoodwill
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NOTE 5 - PROPERTY, PLANT AND EQUIPM
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NOTE 7 - OTHER INVESTMENTSThe main
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NOTE 13 - EQUITY13.1 Issued capital
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NOTE 15 - MINORITY INTERESTSIn the
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16.6 Detail of main individual long
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17.2.2 Additional pension plansFran
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17.2.3 Leaving indemnities (continu
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18.2 Early retirement plansAn actua
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NOTE 22 - NET FINANCING RESULTIn EU
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NOTE 24 - RELATED PARTY DISCLOSURES
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The portfolio of financial instrume
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NOTE 26 - COMMITMENTS GIVEN AND REC
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27.1 Breakdown by activity (continu
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27.2 Geographical breakdown(Figures
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NOTE 29 - RECONCILIATION OF THE ARC
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Company name Consolidation Country
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Audit31, Allée Scheffer Telephone
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Annual accounts Arcelor S.A.ANNUAL
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INCOME STATEMENT FROM JANUARY 1 TO
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NOTE 3 - STATEMENT OF TANGIBLE FIXE
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NOTE 8 - PROVISIONS FOR LIABILITIES
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NOTE 14 - DIRECTORS’ REMUNERATION
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Arcelor Ordinary General Meeting on
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GlossaryAnnealing:The heat treatmen
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How steel is made?a 3-stage process
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Arcelor’s main steel-manufacturin
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NOTES210ANNUAL REPORT ARCELOR 2003
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Concept and realization133, avenue
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