Novolipetsk Steel2015年年度报告.pdf

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1、EFFICIENCY LEADERSHIPReport 2015ABOUT NLMKSUSTAINABILITYCORPORATEGOVERNANCECONTENT2015 HIGHLIGHTS.1CEO STATEMENT.3NLMK PROFILE.4WHERE WE OPERATE.6PRODUCTS AND BRANDS.8BUSINESS MODEL.10INNOVATION.12STRATEGY.14STRATEGY IN ACTION.16MARKET REVIEW.18FINANCIAL AND OPERATING REVIEW 2015.205-YEAR HIGHLIGHTS

2、.24NLMKS SUSTAINABILITY REVIEW.25CEO STATEMENT.27STAKEHOLDER ENGAGEMENT.28OUR EMPLOYEES.30OCCUPATIONAL HEALTH AND SAFETY.36ENVIRONMENTAL SAFETY.38ENERGY EFFICIENCY.40COMMUNITY DEVELOPMENT.42COMMUNICATIONS.46CORPORATE GOVERNANCE REVIEW.49MANAGEMENT COMPOSITION.51CORPORATE GOVERNANCE.58OPERATIONAL CON

3、TROL AND RISK MANAGEMENT.72INFORMATION FOR SHAREHOLDERS.78FINANCIAL STATEMENTS AND APPENDIXOur fl exible business model,diversifi ed product mix and sales geography enable us to maintain high capacity utilization ratesABOUT US/REPORT 20152015 HIGHLIGHTSRecord high sales:15.9 m t(+5%y-o-y)Largest ste

4、el manufacturer in Russia with a share of 22%Revenue:$8 bn(23%y-o-y)EBITDA*:$1.9 bn(18%y-o-y)EBITDA margin:24%(+1 p.p.y-o-y)Net cash fl ow:$1 bn Net Debt:$1.1 bn(32%y-o-y)Net debt/EBITDA:0.6x(0.1 y-o-y)REVENUE BY PRODUCTHVA productsStandard productsSemisSemis to associated companiesOther operations3

5、7%8%19%9%27%$8.0bnREVENUE BY REGIONNLMK GROUP SALESStructural increase of business effi ciency,low-cost steel production and vertical integration allowed NLMK to achieve growth of EBITDA margin despite a more challenging situation in the industryThe ratio is below the target envisioned in Strategy 2

6、017.NLMK Group is consistently fi nancially stable due to low debt leverage.The Companys fi nancial security is based on high liquidity and its ability to operate without raising considerable banking loansTotal savings between 2014 and 2015 amounted to$364 million.The number of initiatives increased