AnnuAl RepoRt 2011
AnnuAl RepoRt 2011
AnnuAl RepoRt 2011
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annual report <strong>2011</strong><br />
table oF contents<br />
IntroductIon<br />
Foreword 3<br />
Metalor in brief 6<br />
Highlights <strong>2011</strong> 8<br />
dIvIsIonal actIvItIes<br />
Refining 10<br />
Advanced Coatings 12<br />
Electrotechnics 14<br />
FInancIal report<br />
Financial report 18<br />
Consolidated balance sheet 20<br />
Consolidated statement of income 21<br />
Consolidated statement of cash flows 22<br />
Consolidated statement of changes in equity 23<br />
Group companies 24<br />
Governing bodies 25<br />
Group operating companies 26
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