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

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Liquidity dynamics of MMK Group
2004 2005 2006 2007
Quick ratio Current ratio
The net assets of MMK have increased 1.83 times since 2004 and the total assets, 1.73 times over the same
period. At year end the Group’s total assets amounted to USD 9.382 bn, with the net assets standing at USD 6.824
bn.
MMK Group assets dynamics, USD million
5, 416 4, 854 5, 689
9, 389
2004 2005 2006 2007
Net assets Assets
The value of non-current assets in 2007 went up by USD 1.882 bn ( 59%) compared to 2006. Such growth is
accounted for by the start of construction of the 5,000 mm Plate Mill and continued revamping of sinter production
and blast furnace divisions as part of the adopted Modernization and Investment Program.
The growth of current assets in 2007 amounted to USD 1.811 bn compared to 2006 (with the growth rate
reaching 73%). As a result, the assets structure of the balance sheet has changed, with the “current assets to noncurrent
assets” ratio standing at 46/54 (while in 2006 this ratio stood at 44/56).
10, 000
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ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS
MMK Group assets structure, USD million
SEASON 2007
2004 2005 2006 2007
Non-current assets Current assets
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