Novolipetsk Steel2002年年度报告.pdf

1、Novolipetsk Iron&Steel CorporationAnnual Report 2002Chairman s Statement4NLMK s Strategy and Goals7Description of the Company9The Year 2002 Main Results11Key Highlights of the Year13Overview of the Metal Markets17Financial&Business Activities of NLMK21Sale of Metal Products23Financial Results26Appra

2、isal of the Company s Financial Position29Risk Management32Production of Metal Products37Diagram of Production Activity40The Company s Products41Certification of Products and the Management System44R&D and Technological Development46Technical Upgrading and Capital Investments48Environmental Protecti

3、on51Human Resources Policy53Social Programs and Charity56Principles of Corporate Governance58Corporate Management Bodies59Management Structure63Subsidiaries and Associates65Major Shareholders67Dividends68Consolidated Financial Statements69The NLMK Management s Opinion on the Group Financial Statemen

4、ts70Independent Auditors Report71Consolidated balance sheets72Consolidated statements of income 73Consolidated statements of stockholders equity and comprehensive income74Consolidated statements of cash flows 75Notes to the consolidated financial statements 76Major Results for 4 Years94Contact Infor

5、mation95NovolipetskIron&SteelCorporationAnnual Report2002Novolipetsk Iron&Steel CorporationChairman s Statement4Novolipetsk Iron&Steel Corporation(NLMK or theCompany)made considerable progress in 2002.Productionand product sales grew,and financial indicators improved.Technical upgrading and developm

6、ent continued,and theproduct line was expanded.Both environmental and socialobjectives were successfully met.It must be said that the positive results of 2002 were achievednot so much due to favorable market trends,as due to thebusiness and production decisions adopted previously by theCompany.This