GENERAL SHAREHOLDERS MEETING ACERINOX Business Year 2012 Madrid, June 5th 2013
ACERINOX EUROPA FACTORY
NORTH AMERICAN STAINLESS FACTORY
COLUMBUS STAINLESS FACTORY
BAHRU STAINLESS FACTORY
ROLDAN FACTORY
INOXFIL FACTORY
GEOGRAPHICAL DISTRIBUTION OF ACERINOX NET SALES Year 2012 Oceania 0.5% Europe 37.2% Africa 6.3% Asia 7.0% Americas 49.0%
STAINLESS STEEL STRIP
OFF-SHORE OIL PLANT MADE OF STAINLESS STEEL
COOKING SCHOOL KITCHEN MADE OF STAINLESS STEEL
SCRAP AND FINISHED PRODUCT
MELTING SHOP
PORT FACILITIES, ALGECIRAS BAY
HOT ROLLING
COMMERCIAL NETWORK Service Centers Warehouses Offices Commercial Agents Factories 19 28 21 14 6
STAINLESS STEEL WORLD PRODUCTION Thousand Mt. 35,000 46,0% 30,000 25,000 20,000 15,000 10,000 3.8% China Asia w/o China Americas Europe + Africa 5,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
NICKEL BRIQUETTES
STAINLESS STEEL HOUSEHOLD APLLIANCES
STAINLESS STEEL HOUSEHOLD APPLIANCES
EUROPEAN CONSOLIDATION I N O X U M A P E R A M O U T O K U M P U A C E R I N O X Melting Shop Factory w/o melting shop
ACERINOX EUROPA, CAMPO DE GIBRALTAR FACTORY
STAINLESS STEEL WORLD PRODUCTION Thousand Mt. 36,000 34,000 32,000 30,000 28,000 26,000 24,000 22,000 20,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2,000 0 50 60 70 80 90 00 10 12 2012 Stainless Steel World Production: 35.4 million Mt Compound annual growth rate 1950-2012: + 5.9% Source: VALE INCO & ISSF
EVOLUTION OF THE STAINLESS STEEL WORLD PRODUCTION Million Mt. Year 2008 Year 2009 Year 2010 Year 2011 Year 2012 2.3 8.6 15.0 2.0 6.7 15.9 8.2 2.6 20.3 8.3 2.5 22.8 8.2 2.4 24.8-5.1% +26.4% +8.1% +5.2% 25.9 24.6 31.1 33.6 35.4 Europe and Africa Asia Americas Source: ISSF
APPARENT CONSUMPTION % Variation over 2011 Europe -3.1% United States +8.8% Asia +2.4% South Africa +8.0%
OFFICIAL NICKEL PRICE IN THE L.M.E. [ 2011-2012 ] Average price: cash / three months (USD/Mt. Ni.) 35,000 30,000 25,000 20,000 15,000 10,000 2011 2012 5,000 0 J F M A M J J A S O N D J F M A M J J A S O N D
RAW MATERIALS PRICE IN THE L.M.E. Year 2012 Daily values (US$/Mt. 3 months) 2,500 25,000 10,000 2,500 2,250 22,500 9,000 2,250 2,000 20,000 8,000 2,000 1,750 17,500 7,000 1,750 1,500 15,000 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 6,000 1,500 Aluminium Nickel Copper Zinc
PRODUCTION OF ACERINOX Year 2012 Flat Product [Mt] ACERINOX EUROPA NAS COLUMBUS BAHRU TOTAL Variation over 2011 MELTING SHOP 676,034 1,008,516 504,531 2,189,081 8.3% HOT ROLLING 568,949 853,175 492,786 1,914,910 7.6% COLD ROLLING 431,400 664,435 265,775 56,482 1,418,092 11.6% Long Product [Mt] ROLDAN NAS TOTAL Variation over 2011 HOT ROLLING 90,388 131,161 221,549 13.5% FINISHED PRODUCTS 84,287 123,043 207,331 8.5%
MAIN FINANCIAL FIGURES OF ACERINOX 2012 2011 Variation Net Sales 4,554.69 4,672.24-2.5% EBITDA 197.60 340.51-42.0% Results after Taxes and Minorities -18.33 73.73 --- Net Financial Debt 581.54 886.60-34.4% Net Financial Deb / EBITDA 2.94 2.60 13.0% Net Financial Debt / Equity 33.9% 47.1% -28.0%
EVOLUTION OF THE STOCK EXCHANGE MARKET - ACERINOX & IBEX 35 Daily percentage data, year 2012 Acerinox Ibex 35 0,35 0,35 0,35 0,35 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec
EVOLUTION OF THE INVENTORIES OF ACERINOX 2007-2012 2007 2008 2009 2010 2011 2012 0% D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D -5% -10% -15% -20% -25% -30% -35% -40% -45% -50%
NET FINANCIAL DEBT OF THE CONSOLIDATED GROUP Million Euros 1,400 1,254 1,200 1,075 1,084 1,000 800 655 674 829 923 939 887 600 582 400 200 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
CURRENT CREDIT LINES IN ACERINOX GROUP December 2012 Used credit facilities Syndicated Loan: 482 million USD Available credit facilities
RETURN TO SHAREHOLDERS Euros / Share 0.55 0.50 0.45 0.48 0.45 0.45 0.45 0.45 0.40 0.35 Attendance Bonus AGM 0.30 0.25 0.20 Issue Premium Refund Dividend 0.15 0.10 0.05 0.00 08 09 10 11 12
STRATEGIC PLAN 2008 2020 GENERATIONAL TRANSITION PLAN GROUP CULTURE MODERN STRUCTURE EXCELLENCE PLANS GLOBAL EXPANSION
INVESTMENTS OF THE CONSOLIDATED GROUP Million Euros 2012 2011 Acerinox, S.A. 0.2 0.4 Acerinox Europa 41.3 22.8 NAS 17.6 17.0 Columbus 7.7 11.5 Bahru Stainless 139.6 104.0 Roldan and Inoxfil 1.3 9.6 Spanish Trading Companies 0.1 0.1 Overseas T rading Companies 1.4 3.9 T otal 209.1 169.3
COMMERCIAL NETWORK Service Centers Warehouses Offices Commercial Agents Factories 19 28 21 14 6
BAHRU STAINLESS FACTORY
BAHRU STAINLESS: TECHNICAL ASSISTANCE
BAHRU STAINLESS COMMERCIAL EXPANSION Offices Commercial Agents
FIRST COIL PROCESSED IN THE ANNEALING AND PICKLING LINE AP 2
EXCELLENCE PLAN Excellence Plan I Excellence plan II Excellence plan III 2009-2010 2011 2012 2013 2014 10 chapters 15 chapters 16 chapters Internal benchmarking Internal benchmarking Internal benchmarking Realistic targets Recurrent savings: 133 million /year Result: 73% (97 million ) Realistic targets (including part of Excellence I) Recurrent savings: 90 million /year Already reach: 59% (53 million ) Realistic targets (including part of Excellence I and II) Recurrent savings: 60 million /year
PROCESSING LINE
RESEARCH AND DEVELOPMENT
PORT FACILITIES, ALGECIRAS BAY
START UP OF THE INTERNAL TRAINEE PROGRAMS
ENVIRONMENTAL COMMITMENT C a r b o n D i s c l o s u r e G l o b a l R e p o r t i n g I n i t i a t i v e ( G R I )
2013 SUSTAINABILITY AWARD
INTERNACIONAL RECOGNITION OF ACERINOX Mr. Felipe de Borbon presents to Acerinox the Award for the International Career of the Spanish Company (Círculo de Empresarios, January 2012) Acerinox receives the Trade & Innovation Award for its expansion in the US (AmChamSpain, September 2012)
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