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

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38 Victor Rashnikov, Chairman of the MMK Board of Directors, President of the MMK Managing Company: “Today we pay a tribute of gratitude to those who built the steel mill, who smelted the first iron, who worked at the mill during the war, those who broke production records, those who fought the hardships of the perestroika period. It is no exaggeration to say that every generation of Magnitka has a heroic fate.”
ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS Main Events of <strong>2007</strong> and Early 2008 SEASON <strong>2007</strong> 39
Page 2 and 3: DISCLAIMER The present Annual Repor
Page 4 and 5: Victor Rashnikov, Chairman of the M
Page 6 and 7: Description Capitalization (as at y
Page 8 and 9: Content INTRODUCTORY ADDRESS of Vic
Page 10 and 11: In 2007 the Magnitogorsk Iron and S
Page 13 and 14: ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 23 and 24: Human Resources The average payroll
Page 29 and 30: Using these mills, MMK manufactures
Page 33 and 34: as regards the organization of thei
Page 35 and 36: Relations with Local Communities in
Page 37: ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 43 and 44: • • • ANNUAL REPORT OPEN JOIN
Page 49 and 50: 10,000 8,000 6,000 4,000 2,000 0 AN
Page 51 and 52: 70 60 50 40 30 20 10 0 Assets Curre
Page 53 and 54: 4 3 2 1 0 Liquidity dynamics of MMK
Page 55 and 56: In accordance with its borrowing po
Page 59 and 60: 1.0 0.8 0.6 0.4 0.2 Trends in OJSC
Page 65: The growing demand and buoyant pric
Page 68 and 69: 8 Major Regional Markets for OJSC M
Page 70 and 71: 70 LLC Uralsibtrade OJSC Uraltrubpr
Page 72 and 73: 72 The changes in the domestic sale
Page 74 and 75: 7 Victor Kutischev, OJSC MMK’s Co
Page 76 and 77: 7 Overview of the Iron Ore and Coal
Page 85 and 86: • • Expenditures on major capit
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tons thanks to the installation of
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ANNUAL REPORT OPEN JOINT-STOCK COMP
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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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170
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172 1. Date of Publication of the L
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• settlement procedure - by insta
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24) Services Agreement # 150577 bet
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• • • validity period - till
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The following persons are recognize
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The following persons are recognize
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61) rental agreement # 152445 betwe
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• validity period - from the date
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days from the receipt of invoice;
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• • • settlement procedure -
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The Body which approved the transac
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• • • validity period - till
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• • • • ANNUAL REPORT OPEN
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• settlement procedure - funds tr
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164) paid service agreement # 16001
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There are no beneficiaries under th
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during the shipment, with a discoun
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• supply period - until next Annu
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CONSOLIDATED BALANCE SHEETS AS OF D
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Note Years ended December 31, 2007
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ASSETS I. NON-CURRENT ASSETS Line c
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LOSS AND PROFIT STATEMENT for 2007
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BREAKDOWN OF INDIVIDUAL PROFITS AND
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3.3 Reporting cycle Date of Publica
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EN10 Percentage and total volume of
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The OJSC MMK’s Annual Report is e
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