ANNUAL REPORT ARCELOR 2003 - paperJam

NOTE 27 – SEGMENT REPORTINGIn accordance with both Group management and internal reporting guidelines, segment reporting informationis disclosed by both business activity and by geographic zones.27.1 Breakdown by activitySales between activities are calculated at market price. The operating result is shown after eliminations.2003 Flat Long Stainless Distribution, Other Eliminations Total(Figures in EUR million,Carbon Carbon Steel Processing, activitiesexcept for the number of employees) Steel Steel TradingINCOME STATEMENTRevenue 13,994 4,381 4,280 7,954 836 (5,522) 25,923Inter-sector sales (3,352) (767) (121) (732) (550) 5,522 -TOTAL 10,642 3,614 4,159 7,222 286 - 25,923Gross operating profit 1,365 493 23 284 58 5 2,228Depreciation (656) (182) (486) (201) (76) - (1,601)Including non-recurring reductions in value (20) (10) (323) (78) (35) - (466)Operating profit(before amortisation of goodwill) 709 311 (463) 83 (18) 5 627Amortisation of goodwill 65 - - 42 4 - 111Including non-recurring reductions in value - - - (2) - - (2)Operating profit 774 311 (463) 125 (14) 5 738Share in the profit of companiesaccounted for using the equity method 125 25 (26) 7 9 140BALANCE SHEETSegment assets 11,701 3,631 2,990 3,698 4,829 (6,404) 20,445Property, plant and equipment 5,379 1,768 1,009 604 187 - 8,947Investments in companies accountedfor using the equity method 967 147 111 133 400 - 1,758Unallocated assets - - - - - - 2,405TOTAL CONSOLIDATED ASSETS 12,668 3,778 3,101 3,831 5,229 (6,404) 24,608Segment liabilities 6,032 1,355 1,629 1,875 1,796 (2,253) 10,434Unallocated liabilities - - - - - - 6,711TOTAL CONSOLIDATED LIABILITIES 6,032 1,355 1,629 1,875 1,796 (2,253) 17,145Acquisitions of tangible and intangiblefixed assets 727 293 194 83 30 - 1,327OTHER INFORMATIONNumber of employees (average) 48,510 18,115 14,598 15,129 3,160 - 99,512financial information > consolidated financial statementsANNUAL REPORT ARCELOR 2003 173