ANNUAL REPORT ARCELOR 2003 - paperJam

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Corporate GovernanceBoard of Directors*• Joseph Kinsch,Chairman of the Board of Directors• José Ramón Álvarez Rendueles,Vice-Chairman of the Board of Directors• Daniel Bouton,Director, Chairman and CEO of Société Générale, Paris• John Castegnaro,Director, Employee Representative, Luxembourg• Hedwig De Koker,Director, Chairman of the Board of Vancaen PLC,Brussels• Jean-Yves Durance,Director, Chairman of the Management Board MARSHFrance, Paris• Jean-Pierre Hansen,Director, Chairman and Managing Director of Tractebel,Managing Director of SUEZ S.A., Brussels• Ulrich Hartmann,Director, Vorsitzender des Aufsichtstrats of E-ON AG,Düsseldorf• Corporación JMAC represented byRamón Hermosilla Martin,Director, Madrid• Jean Lapeyre**,Director, Employee Representative, Paris• S.A.R. le Prince Guillaume de Luxembourg,Director, Luxembourg• Daniel Melin,Director, Chairman of EMEA South EDS, Paris• Edmond Pachura,Director, Chairman of UNAS, Paris• Francisco Javier de la Riva Garriga,Director, Executive Vice-Chairman of Fertiberia S.A.,Madrid• Georges Schmit,Director, Secretary General of the Ministry of theEconomy, Luxembourg• Sergio Silva de Freitas,Director, Senior Vice-President of Banco Itaú, São Paulo• Ignacio Fernández Toxo,Director, Employee Representative, Madrid• Fernand Wagner,Director, LuxembourgSecretary of the Board of Directors• Paul Junck,General SecretaryAudit Committee• José Ramón Álvarez Rendueles,Chairman• Hedwig De Koker,Member• Jean-Yves Durance,Member• Georges Schmit,MemberNominating and Compensation Committee• Joseph Kinsch,Chairman• José Ramón Álvarez Rendueles,Member• Jean-Pierre Hansen,Member• Edmond Pachura,Member* the term of all members of the Board of Directors will expire at the AnnualGeneral Shareholders’ Meeting of 2006**resigned on August 28, 200318ANNUAL REPORT ARCELOR 2003
Management Board• Guy Dollé,Chairman and Chief Executive Officer• Jacques Chabanier,Senior Executive Vice-President Purchasing, R&D, I.T.,e-Commerce, Alliance NSC• Jean-Yves Gilet,Senior Executive Vice-President Stainless Steels• Robert Hudry (1),Senior Executive Vice-President Distribution-Processing-Trading• Roland Junck,Senior Executive Vice-President Long Carbon Steels• Paul Matthys,Senior Executive Vice-President Strategy and Planning,M&A, Synergies• Guillermo Ulacia,Senior Executive Vice-President Flat Carbon Steels• Michel Wurth,Senior Executive Vice-President Finances,Management by Objectives1 23 45 6general information > corporate governance7 81Guy Dollé5Roland Junck2Jacques Chabanier6Paul Matthys3Jean-Yves Gilet7Guillermo Ulacia4Robert Hudry8Michel Wurth(1) Robert Hudry will leave the Group after the General Shareholders Meetingof April 30, 2004. He will be replaced in his management position as head ofthe Distribution-Processing-Trading sector by Gonzalo Urguijo, who wasappointed Deputy Senior Executive Vice-President of Arcelor by the Boardof Directors at its meeting of February 18, 2004.ANNUAL REPORT ARCELOR 2003 19
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 16 and 17: Key Figures for 2003Revenues (1) Re
Page 18 and 19: 2003 highlightsOn January 24, 2003,
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
Page 68 and 69: Trends in global crude steel produc
Page 70 and 71:
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
Page 84 and 85:
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
Page 92 and 93:
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
Page 116 and 117:
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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