Annual report 2007 - Magnitogorsk Iron & Steel Works ...

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23 LOSS AND PROFIT STATEMENT for <strong>2007</strong> Unit thousand rubles Item Description Code INCOME AND EXPENSES FROM ORDINARY ACTIVITIES Net revenue from sold goods, products and services (less VAT, excise tax and For the accounting year 1 2 3 For the same period of the previous year similar compulsory payments) 010 190,287,241 161,432,730 Cost of goods and services sold 020 (129,006,056) (102,745,086) Gross profit 029 61,281,185 58,687,644 Commercial expenses 030 (3,758,206) (2,490,955) Administrative expenses 040 (6,075,677) (6,087,699) Sales profit 050 51,447,302 50,108,990 OTHER INCOME AND EXPENSES Interest receivable 060 3,028,805 1,721,785 Interest payable 070 (1,252,073) (1,194,502) Income from participation in other organizations 080 220,906 205,630 Other income 090 115,612,184 175,910,273 Other expenses 100 (100,731,060) (177,681,152) Profit before tax 140 68,326,064 49,071,024 Deferred tax assets 141 24,537 27,526 Deferred tax liabilities 142 (4,894,361) (46,880) Current income tax 150 (12,018,627) (12,019,497) Tax penalties 151 (6,669) 16,983 Previous periods’ income tax 152 292,080 64,955 NET PROFIT FOR THE ACCOUNTING YEAR 190 (51,723,024) (37,114,111) FOR REFERENCE Deferred expenses from income tax 207 16,387,348 11,701,156 Fixed tax liabilities 208 1,119,359 882,427 Fixed tax assets 209 (618,256) (544,732) Basic earnings per share 210 4,60 3,49
BREAKDOWN OF INDIVIDUAL PROFITS AND LOSSES Item description Code Fines, penalties and forfeits acknowledged or to be collected according to a court (arbitration court) judgement 1 2 3 For the accounting year For the same period of the previous year profit loss profit loss 210 40,139 165,041 41,669 165,230 Previous years’ profit (loss) 220 (35,527) 218,852 6,111 101,822 Indemnity for losses incurred due to failure to perform or unduly performance of obligations Exchange rate differences for foreign currency operations Allocations to valuation reserves Write-off of accounts receivable and payable with expired period of limitation ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS SEASON <strong>2007</strong> 230 6,953 16,454 130 33,830 240 1,846,051 858,098 1,589,267 671,361 250 0 1,452,827 0 305,574 260 8,174 5 33,810 505 237
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DISCLAIMER The present Annual Repor
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Victor Rashnikov, Chairman of the M
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Description Capitalization (as at y
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Content INTRODUCTORY ADDRESS of Vic
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In 2007 the Magnitogorsk Iron and S
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ANNUAL REPORT OPEN JOINT-STOCK COMP
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Human Resources The average payroll
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Using these mills, MMK manufactures
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as regards the organization of thei
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Relations with Local Communities in
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• • • ANNUAL REPORT OPEN JOIN
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10,000 8,000 6,000 4,000 2,000 0 AN
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70 60 50 40 30 20 10 0 Assets Curre
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4 3 2 1 0 Liquidity dynamics of MMK
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In accordance with its borrowing po
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1.0 0.8 0.6 0.4 0.2 Trends in OJSC
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The growing demand and buoyant pric
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8 Major Regional Markets for OJSC M
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70 LLC Uralsibtrade OJSC Uraltrubpr
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72 The changes in the domestic sale
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7 Victor Kutischev, OJSC MMK’s Co
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7 Overview of the Iron Ore and Coal
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• • Expenditures on major capit
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tons thanks to the installation of
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Currency Risk A significant portion
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Goals Planned value Actual value Ac
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The average wages at MMK are 35% hi
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# Causes of injuries 2003 200 200 2
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Environmental Expenditures 2007 saw
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6.00 5.16 5.00 4.00 3.00 2.00 1.00
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128 Exhaustive, precise and timely
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130 Report on Payment of Declared (
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132
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13 Information on Equity Capital As
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13 Liubov Gamper, OJSC MMK’s Dire
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138 Audit Committee Chairman of the
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1 0 # 5. 6. 7. Provisions of the Co
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1 2 # 18. 19. 20. 21. 22. 23. Provi
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1 # 31. 32. 33. 34. 35. 36. 37. Pro
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1 # 45. 46. 47. 48. Provisions of t
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1 8 # Provisions of the Code of Cor
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1 0 # 73. 74. 75. Provisions of the
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1 2 Director for Sales Director for
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1 Commercial Director Director for
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1 • • • • • • • •
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1 8 • • • • • • • •
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1 0 Protection Policy which regulat
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1 2 Sergey V. Krivoshchekov (born i
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1 - exercises the authorities of th
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1 Victor A. Kutischev (born in 1958
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1 8
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172 1. Date of Publication of the L
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• settlement procedure - by insta
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Page 185 and 186: 24) Services Agreement # 150577 bet
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Page 191 and 192: The following persons are recognize
Page 193 and 194: 61) rental agreement # 152445 betwe
Page 195 and 196: • validity period - from the date
Page 197 and 198: days from the receipt of invoice;
Page 199 and 200: ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 201 and 202: • • • settlement procedure -
Page 203 and 204: The Body which approved the transac
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Page 211 and 212: • • • • ANNUAL REPORT OPEN
Page 213 and 214: • settlement procedure - funds tr
Page 215 and 216: 164) paid service agreement # 16001
Page 219 and 220: There are no beneficiaries under th
Page 221 and 222: during the shipment, with a discoun
Page 223 and 224: • supply period - until next Annu
Page 229 and 230: CONSOLIDATED BALANCE SHEETS AS OF D
Page 231 and 232: Note Years ended December 31, 2007
Page 233 and 234: ASSETS I. NON-CURRENT ASSETS Line c
Page 235: LOSS AND PROFIT STATEMENT for 2007
Page 239 and 240: 3.3 Reporting cycle Date of Publica
Page 241 and 242: EN10 Percentage and total volume of
Page 244: The OJSC MMK’s Annual Report is e
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Annual report 2007 - Magnitogorsk Iron & Steel Works ...

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