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

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Description Capitalization (as at year end)* Key performance indicators of the MMK Group Unit of measurement * Official quotation figures for MMK shares not available; ** according to the data of the Moscow Interbank Currency Exchange; *** according to the LSE data. 2003 2004 2005 2006 2007 USD bn n/a * n/a * n/a * 9,3 ** 14,4*** Rolled steel ktpy 10, 073 10, 137 10, 201 11, 346 12, 203 Average MMK Group payroll personnel number Average monthly wages men 61, 656 59, 563 57, 815 55, 572 61, 309 USD 318 399 493 628 819 Main Financial Results of OJSC MMK Pursuant to the Financial Statements Prepared According to RAS rate Description Unit of measurement 2003 2004 2005 2006 2007 Sales USD m 2, 888.2 4, 635.3 5, 206.0 5, 937.2 7, 438.6 Cost of goods sold USD m 1, 940.0 3, 068.5 3, 716.8 4, 094.3 5, 427.5 Sales revenue USD m 948.2 1, 566.9 1, 489.2 1, 842.9 2, 011.2 Sales margin % 33% 34% 29% 31% 27% Net profit USD m 663.8 1, 160.9 1, 053.7 1, 365.0 2, 021.0 ROCE % 43% 38% 39% 45% 28% Return on total assets (ROTA) Average USD exchange % 48% 33% 24% 29% 34% RUB 30.69 28.81 28.30 27.19 25.58
ANNUAL REPORT OPEN JOINT-STOCK COMPANY MAGNITOGORSK IRON & STEEL WORKS Production of Main Products in 2003-2007, ktpy Products 2003 2004 2005 2006 2007 OJSC MMK Pig iron 9, 766 9, 645 9, 655 9, 733 9, 482 Steel 11, 475 11, 281 11, 385 12, 455 13, 261 Rolled products 10, 073 10, 137 10, 201 11, 346 12, 203 OJSC Magnitogorsky Metizno-Kalibrovochnyi Zavod (MMK-METIZ) Metalware 518 528 487 610 747 OJSC Cement And Refractory Plant Cement 134 131 252 250 322 Main Financial Results of the MMK Group Pursuant to Consolidated Financial Statements Prepared in Accordance with US GAAP Description Unit of measurement SEASON 2007 2003 2004 2005 2006 2007 Sales USD m 3, 047 4, 829 5, 380 6, 424 8, 197 Cost of goods sold USD m 2, 230 3, 291 4, 057 4, 659 6, 118 Sales revenue USD m 817 1, 538 1, 323 1, 765 2, 079 Sales margin USD m 27% 32% 25% 27% 25% Net profit USD m 608 1, 232 947 1, 426 1, 772 ROCE % 24% 31% 31% 35% 25% ROA % 20% 27% 18% 27% 24% EBITDA USD m 1, 003 1, 735 1, 511 2,0 05 2, 342 EBITDA margin % 32.9% 35.9% 28.1% 31.2% 28.6% 7
Page 2 and 3: DISCLAIMER The present Annual Repor
Page 4 and 5: Victor Rashnikov, Chairman of the M
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
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ANNUAL REPORT OPEN JOINT-STOCK COMP
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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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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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