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

More documents

Recommendations

Info

8 On 24.04.2007 OJSC MMK carried out an IPO with a subsequent listing on the LSE Main Market. OJSC MMK completed a GDR issue program (with 1 GDR representing 13 ordinary shares). In the course of public subscription (including pre-emptive rights) 1,042,603,423 of additionally issued shares were placed among Russian and foreign investors (in GDR form). The placement accounted for 8.9% of the authorized capital. The offering price amounted to USD 0.961538 per share or USD 12.50 per GDR. The market capitalization on the date of placement reached USD11.221 billion including the offering of new shares at the beginning of conditional trading. ABN Amro Rothschild, Morgan Stanley, Renaissance Capital acted in the capacity of Global Coordinators, with Gasprombank acting as a Co-coordinator. The Depositary Bank was the Bank of New York. The IPO at the London Stock Exchange was one of the milestones of the Company’s development strategy. As a result of the IPO and the exercise of the green shoe option, OJSC MMK raised USD 1.12 billion, demonstrating the highest result among Russian steel making companies. OJSC MMK confirmed its status of a public company and was recognized by the investor community. On April 30, 2007, the UK’s Financial Service Authority included OJSC MMK’ GDR in the main list under the ticker MMK. Stock Exchange Ticker (System code) MICEX MAGN RTS MAGN LSE MMK Bloomberg MMK:LI Reuters MAGNq.L Following the IPO, OJSC MMK’s free float increased. It was instrumental in having the Company’s shares included in the calculation base of the following stock indexes: • RTS Index (since15.06.07); • RTS Index Metals and Mining (since 15.06.07 ); • MICEX Index Metals and Mining (since 14.08.07); • MICEX Index (since 15.10.07); • MICEX MidCap Index (since 06.08.07); • RDXxt stock index (13.03.08); • DAX Global Russia (since 24.09.07). • MSCI Russia (since 30.11.07); • MSCI Emerging Markets (since 30.11.07); In 2007 OJSC MMK’s shares won recognition on the part of the investor community and were received by the market as a reliable stock instrument with a high growth potential. Provided below is detailed data on the quotation trends and trading volumes of OJSC MMK’s shares/GDR in 2007.
1.0 0.8 0.6 0.4 0.2 Trends in OJSC MMK Share Quotation and Trading Volume at RTS and MICEX in 2007* Trading Volume, USD m 1.2 0.0 0,7 29.12.2006 06.03.2007 01.05.2007 25.06.2007 20.08.2007 15.10.2007 10.12.2007 Trading Volume, USD m 10 8 6 4 2 ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS Trading Volume at RTS, USD Quotation at RTS, USD Quotation, USD 0 0.8 29.12.2006 06.03.2007 01.05.2007 25.06.2007 20.08.2007 15.10.2007 10.12.2007 Trading Volume at MICEX, USD Quotation at MICEX, USD SEASON 2007 Quotation, USD 1.4 1.3 1.2 1.1 1.0 0.9 9 1.4 1.3 1.2 1.1 1.0 0.9 0.8
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 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 57: ANNUAL REPORT OPEN JOINT-STOCK COMP
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
Page 89 and 90: tons thanks to the installation of
Page 97 and 98: Currency Risk A significant portion
Page 101 and 102: Goals Planned value Actual value Ac
Page 105 and 106: The average wages at MMK are 35% hi
Page 109 and 110:
# Causes of injuries 2003 200 200 2
Page 111 and 112:
ANNUAL REPORT OPEN JOINT-STOCK COMP
Page 113 and 114:
Page 115 and 116:
Page 117 and 118:
Page 119 and 120:
Environmental Expenditures 2007 saw
Page 121 and 122:
6.00 5.16 5.00 4.00 3.00 2.00 1.00
Page 123 and 124:
Page 125:
Page 128 and 129:
128 Exhaustive, precise and timely
Page 130 and 131:
130 Report on Payment of Declared (
Page 132 and 133:
132
Page 134 and 135:
13 Information on Equity Capital As
Page 136 and 137:
13 Liubov Gamper, OJSC MMK’s Dire
Page 138 and 139:
138 Audit Committee Chairman of the
Page 140 and 141:
1 0 # 5. 6. 7. Provisions of the Co
Page 142 and 143:
1 2 # 18. 19. 20. 21. 22. 23. Provi
Page 144 and 145:
1 # 31. 32. 33. 34. 35. 36. 37. Pro
Page 146 and 147:
1 # 45. 46. 47. 48. Provisions of t
Page 148 and 149:
1 8 # Provisions of the Code of Cor
Page 150 and 151:
1 0 # 73. 74. 75. Provisions of the
Page 152 and 153:
1 2 Director for Sales Director for
Page 154 and 155:
1 Commercial Director Director for
Page 156 and 157:
1 • • • • • • • •
Page 158 and 159:
1 8 • • • • • • • •
Page 160 and 161:
1 0 Protection Policy which regulat
Page 162 and 163:
1 2 Sergey V. Krivoshchekov (born i
Page 164 and 165:
1 - exercises the authorities of th
Page 166 and 167:
1 Victor A. Kutischev (born in 1958
Page 168 and 169:
1 8
Page 170 and 171:
170
Page 172 and 173:
172 1. Date of Publication of the L
Page 175 and 176:
Page 177 and 178:
Page 179 and 180:
Page 181 and 182:
• settlement procedure - by insta
Page 183 and 184:
Page 185 and 186:
24) Services Agreement # 150577 bet
Page 187 and 188:
• • • validity period - till
Page 189 and 190:
The following persons are recognize
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:
Page 201 and 202:
• • • settlement procedure -
Page 203 and 204:
The Body which approved the transac
Page 205 and 206:
• • • validity period - till
Page 207 and 208:
Page 209 and 210:
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 217 and 218:
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 225 and 226:
Page 227 and 228:
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 and 236:
LOSS AND PROFIT STATEMENT for 2007
Page 237 and 238:
BREAKDOWN OF INDIVIDUAL PROFITS AND
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
show all

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

Create successful ePaper yourself

Delete template?

Save as template?