BUSINESS YEAR 2007 RESULTS

Transcription

1 BUSINESS YEAR 2007 RESULTS

2 EVOLUTION OF THE STAINLESS STEEL WORLD PRODUCTION Million Mt. YEAR 2003 YEAR 2004 YEAR 2005 YEAR 2006 YEAR 2007 (estimated) % -1.0% +16.7% % 27.8 Europe and Africa Asia America Statistical source : International Stainless Steel Forum (ISSF)

3 OFFICIAL NICKEL PRICE IN THE L.M.E.(Year 2007) Average price: cash / three months USD/Mt. 55,000 50,000 45,000 40,000 35,000 30,000 25,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

4 OFFICIAL NICKEL PRICE AND INVENTORY LEVEL IN THE L.M.E. ( ) Monthly average values. (USD/Mt. Ni.) Thousand Mt , , , , , , , , , , ,000 0 Average : 8,062 USD/Mt. Ni Nickel price Inventories in the L.M.E

5 STAINLESS STEEL COLD ROLLED SHEET PRICES AISI mm ( ) USD/Mt, final price, alloy surcharge included 7,000 6,500 6,000 5,500 5,000 4,500 4,000 3,500 3,000 USA GERMANY HONG KONG 2,500 2,000 1,500 1, SOURCE: Metal Bulletin Research Stainless Steel Monthly

6 STAINLESS STEEL COLD ROLLED SHEET PRICES AISI mm ( ) /Mt GERMAN MARKET 5, , , , , , , , , Base Price Alloy Surcharge SOURCE: MBR

7 STAINLESS STEEL COLD ROLLED SHEET PRICES AISI mm ( ) USD/Mt , , , , , , , , , , , , NORTH AMERICAN MARKET Base Price Alloy Surcharge SOURCE: MBR

8 PRODUCTION OF ACERINOX GROUP. YEAR 2007 Mt. FLAT PRODUCTS ACERINOX NAS COLUMBUS TOTAL Variation over 2005 MELTING SHOP 901, , ,051 2,310, % HOT ROLLING SHOP 751, , ,691 2,040, % COLD ROLLING SHOP 585, , ,531 1,455, % LONG PRODUCTS ROLDAN NAS TOTAL Variation over 2005 HOT ROLLING SHOP 122,303 74, , %

9 PRODUCTION OF ACERINOX GROUP (Thousand Mt.) MELTING SHOP HOT ROLLING COLD ROLLING Long Product Total Acerinox, S.A. NAS Columbus Roldan

10 EVOLUTION OF ACERINOX GROUP NET SALES Million 7, , , , , , , , , , , , , ,901 3,421 2,648 2,392 1, Consolidated Group Trading Companies ACERINOX S.A. N.A.S. COLUMBUS ROLDAN + INOXFIL

11 GEOGRAPHICAL DISTRIBUTION OF ACERINOX GROUP NET SALES YEAR 2007 YEAR 2006 Oceania 0.1% Europe 41.8% Oceania 0.1% Europe 45.1% Africa 5.0% Asia 17.1% Americas 36.0% Africa 4.5% Asia 11.2% Americas 39.1%

12 COMMERCIAL NETWORK OF ACERINOX GROUP Flat Products Facility (3) Long Products Facility (3) Service Centre (20) Service Centre under construction (3) Warehouse (34) Commercial Office (27)

13 ACERINOX, S.A. : CAMPO DE GIBRALTAR FACTORY

14 PRODUCTION EVOLUTION AT CAMPO DE GIBRALTAR FACTORY ( ) Thousand Mt , , Melting Shop Hot Rolling Shop Cold Rolling Shop

15 31 st DECEMBER 2007 RESULTS Million ACERINOX, S.A % over 2006 NET SALES 2, , RESULT BEFORE TAXES DEPRECIATION RESULT AFTER TAXES NET CASH FLOW

16 NORTH AMERICAN STAINLESS : FACTORY OF KENTUCKY (U.S.A.)

17 EVOLUTION OF PRODUCTION IN N.A.S. Thousand Mt Melting Shop Hot Rolling Shop Flat Products Hot Rolling Shop Long Products Cold Rolling Shop

18 31 st DECEMBER 2007 RESULTS MillIon USD NAS % over 2006 NET SALES 3, , RESULT BEFORE TAXES DEPRECIATION RESULT AFTER TAXES AND MINORITIES NET CASH FLOW

19 EVOLUTION OF THE RESULT AFTER TAXES AND MINORITIES. NORTH AMERICAN STAINLESS Million USD

20 COLUMBUS STAINLESS : FACTORY OF MIDDELBURG (South Africa)

21 PRODUCTION EVOLUTION IN COLUMBUS Thousand Mt Melting Shop Hot Rolling Shop Cold Rolling Shop

22 31 st DECEMBER 2007 RESULTS Million COLUMBUS % over 2006 NET SALES 1, , RESULT BEFORE TAXES DEPRECIATION RESULT AFTER TAXES NET CASH FLOW

23 EVOLUTION OF THE RESULT AFTER TAXES IN COLUMBUS Million

24 ROLDAN, S.A. : PONFERRADA FACTORY

25 ANNUAL PRODUCTION OF FINISHED PRODUCTS IN ROLDAN, S.A. Thousand Mt

26 31 st DECEMBER 2007 RESULTS Million ROLDAN, S.A % over 2006 NET SALES RESULT BEFORE TAXES DEPRECIATION RESULT AFTER TAXES NET CASH FLOW

27 31 st DECEMBER 2007 RESULTS CONSOLIDATED GROUP Variation Net Sales 6,900,883 5,637, % EBITDA (*) 654, , % EBIT 526, , % Profit before taxes and minorities 458, , % Depreciation 128, , % Gross Cash Flow 587, , % Profit after taxes and minorities 312, , % Net Cash Flow 440, , % (*) The Acerinox Group has made a provision to adjust the inventories value to the net realizable of 97.4 million euros

28 EVOLUTION OF THE RESULT AFTER TAXES AND MINORITIES ACERINOX GROUP Million Spanish GAAP IAS

29 QUARTERLY EVOLUTION OF THE RESULT AFTER TAXES AND MINORITIES. ACERINOX GROUP Million Years 2005 and 2006 armonized by IAS

30 CONTRIBUTION TO THE RESULT AFTER TAXES AND MINORITIES CONSOLIDATED GROUP (%) YEAR 2007 NAS 64.7 Acerinox 40.8 Columbus 9.1 Roldán and Inoxfil 5.7 SPANISH trading companies -8.4 OVERSEAS trading companies

31 MAIN RATIOS AND MAGNITUDES OF THE CONSOLIDATED GROUP CONSOLIDATED GROUP Cash Flow per share Earning per share Gross margin 21.5% 33.0% EBITDA 9.5% 17.0% EBIT 7.6% 15.2% ROE 13.5% 22.1% ROCE 16.3% 24.3% GEARING 40.0% 55.0% Net Debt / EBITDA Book Value at 31-Dec

32 EVOLUTION OF THE CONSOLIDATED GROUP (E.B.I.T.D.A.) CONSOLIDATED GROUP Million (% over sales) , Average : (12.6%) (IAS) 2006 (IAS) 2007 (IAS)

33 EVOLUTION OF THE STOCK EXCHANGE MARKET (Year 2007) Daily percentage data 20% 10% ACERINOX IBEX-35 14,147 15, % 0% -10% -20% -30% Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec ACERINOX quotation IBEX %

34 EVOLUTION OF THE STOCK EXCHANGE MARKET (Years ) Daily percentage data 100% 90% 80% 70% 60% ACERINOX IBEX-35 10,734 15,182 50% 40% 30% +41.4% +36.9% 20% 10% 0% -10% 1Q.06 2Q.06 3Q.06 4Q.06 1Q.07 2Q.07 3Q.07 4Q.07 ACERINOX quotation IBEX 35

35 COMPARISON OF THE MAIN WORLD INDEXES WITH ACERINOX QUOTATION. YEARS Daily percentage data 275% 250% 225% 200% 175% 150% 125% 100% 75% 50% 25% 0% % ACERINOX, S.A % IBEX % EURO STOXX % DOW JONES INDUSTRIALS +27.1% NIKKEI % FTSE % -50%

36 PRODUCTION CAPACITY YEAR 2009 (Million Mt.) Melting Hot Rolling Cold Roling Long Prod Melting Hot Rolling Cold Rolling Long Prod Melting Hot Rolling Cold Rolling