Acerinox Sa · BME:ACX
Acerinox Sa — Shareholder Meeting (June 2013)
51 slides from Acerinox Sa's shareholder meeting presentation, Jun 5, 2013
Slide 1: General Shareholders' Meeting, Business Year 2012
GENERAL SHAREHOLDERS’ MEETING ACERINOX Business Year 2012 Madrid, June 5th 2013
Slide 2: Acerinox Europa Factory
ACERINOX EUROPA FACTORY
Slide 3: North American Stainless Factory
NORTH AMERICAN STAINLESS FACTORY
Slide 4: Columbus Stainless Factory
COLUMBUS STAINLESS FACTORY
Slide 5: Bahru Stainless Factory
BAHRU STAINLESS FACTORY es a LPIATLIS STAINLESS
Slide 6: Roldan Factory
ROLDAN FACTORY cana)
Slide 7: Inoxfil Factory
INOXFIL FACTORY oe ™
Slide 8: Geographical Distribution of Acerinox Net Sales
GEOGRAPHICAL DISTRIBUTION OF ACERINOX NET SALES Year 2012 Europe 37.2% Oceania 0.5% Africa 6.3% Americas Asia 49.0% 7.0%
Slide 9: Stainless Steel Strip
STAINLESS STEEL STRIP
Slide 10: Off-Shore Oil Plant Made of Stainless Steel
OFF-SHORE OIL PLANT MADE OF STAINLESS STEEL
Slide 11: Cooking School Kitchen Made of Stainless Steel
COOKING SCHOOL KITCHEN MADE OF STAINLESS STEEL
Slide 12: Scrap and Finished Product
SCRAP AND FINISHED PRODUCT
Slide 13: Melting Shop
MELTING SHOP
Slide 14: Port Facilities, Algeciras Bay
PORT FACILITIES, ALGECIRAS BAY
Slide 15: Hot Rolling
HOT ROLLING
Slide 16: Commercial Network
COMMERCIAL NETWORK Service Centers 19 Warehouses 28 Offices 21 Commercial Agents 14 Factories 6
Slide 17: Stainless Steel World Production
STAINLESS STEEL WORLD PRODUCTION Thousand Mt. 46,0% 35,000 30,000 25,000 20,000 3.8% China Asia w/o China 15,000 Americas Europe + Africa 10,000 5,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Slide 18: Nickel Briquettes
NICKEL BRIQUETTES
Slide 19: Stainless Steel Household Appliances
STAINLESS STEEL HOUSEHOLD APLLIANCES
Slide 20: Stainless Steel Household Appliances
STAINLESS STEEL HOUSEHOLD APPLIANCES
Slide 21: European Consolidation
EUROPEAN CONSOLIDATION INOXUM APERAM OUTOKUMPU ACERINOX Melting Shop Factory w/o melting shop
Slide 22: Acerinox Europa, Campo de Gibraltar Factory
ACERINOX EUROPA, CAMPO DE GIBRALTAR FACTORY
Slide 23: Stainless Steel World Production, Compound Annual Growth Rate
STAINLESS STEEL WORLD PRODUCTION Thousand Mt. 36,000 34,000 32,000 2012 Stainless Steel World 30,000 Production: 28,000 26,000 24,000 35.4 million Mt 22,000 20,000 18,000 Compound annual growth 16,000 rate 14,000 12,000 1950 - 2012: 10,000 8,000 6,000 4,000 + 5.9% 2,000 0 50 60 70 80 90 00 10 12 Sou
Slide 24: Evolution of the Stainless Steel World Production
EVOLUTION OF THE STAINLESS STEEL WORLD PRODUCTION Million Mt. Year 2008 Year 2009 Year 2010 Year 2011 Year 2012 8.6 8.2 8.3 6.7 8.2 15.9 20.3 22.8 24.8 2.3 15.0 2.5 2.0 2.6 2.4 -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
Slide 25: Apparent Consumption
APPARENT CONSUMPTION % Variation over 2011 Europe -3.1% United States +8.8% Asia +2.4% South Africa +8.0%
Slide 26: Official Nickel Price in the L.M.E. 2011-2012
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
Slide 27: Raw Materials Price in the L.M.E. Year 2012
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 6,000 1,500 Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Nickel Copper Aluminium Zinc
Slide 28: Production of Acerinox
PRODUCTION OF ACERINOX Year 2012 ACERINOX Variation over Flat Product [Mt] NAS COLUMBUS BAHRU TOTAL EUROPA 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% Variation over Long Pro
Slide 29: Main Financial Figures of Acerinox
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%
Slide 30: Evolution of the Stock Exchange Market - Acerinox & IBEX 35
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
Slide 31: Evolution of the Inventories of Acerinox 2007-2012
EVOLUTION OF THE INVENTORIES OF ACERINOX 2007 - 2012 2007 2008 2009 2010 2011 2012 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 0% -5% -10% -15% -20% -25% -30% -35% -40% -45% -50%
Slide 32: Net Financial Debt of the Consolidated Group
NET FINANCIAL DEBT OF THE CONSOLIDATED GROUP Million Euros 1,400 1,254 1,200 1,075 1,084 1,000 923 939 887 829 800 655 674 582 600 400 200 0 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Slide 33: Current Credit Lines in Acerinox Group
CURRENT CREDIT LINES IN ACERINOX GROUP December 2012 Syndicated Loan: 482 Used credit facilities million USD Available credit facilities
Slide 34: Return to Shareholders
RETURN TO SHAREHOLDERS Euros / Share 0.55 0.50 0.48 0.45 0.45 0.45 0.45 0.45 0.40 0.35 Attendance Bonus AGM 0.30 Issue Premium Refund 0.25 0.20 Dividend 0.15 0.10 0.05 0.00 08 09 10 11 12
Slide 35: Strategic Plan 2008-2020
STRATEGIC PLAN 2008 – 2020 GENERATIONAL TRANSITION PLAN GROUP CULTURE MODERN STRUCTURE EXCELLENCE PLANS GLOBAL EXPANSION
Slide 36: Investments of the Consolidated Group
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 Trading Companies 1.4 3.9 Total 209.1 169.3
Slide 37: Commercial Network
COMMERCIAL NETWORK Service Centers 19 Warehouses 28 Offices 21 Commercial Agents 14 Factories 6
Slide 38: Bahru Stainless Factory
BAHRU STAINLESS FACTORY cana)
Slide 39: Bahru Stainless: Technical Assistance
BAHRU STAINLESS: TECHNICAL ASSISTANCE
Slide 40: Bahru Stainless – Commercial Expansion
BAHRU STAINLESS – COMMERCIAL EXPANSION Offices Commercial Agents
Slide 41: First Coil Processed in the Annealing and Pickling Line AP 2
FIRST COIL PROCESSED IN THE ANNEALING AND PICKLING LINE AP 2
Slide 42: Excellence Plan
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 Realistic targets Realistic targets (including part o
Slide 43: Processing Line
PROCESSING LINE
Slide 44: Research and Development
RESEARCH AND DEVELOPMENT
Slide 45: Port Facilities, Algeciras Bay
PORT FACILITIES, ALGECIRAS BAY
Slide 46: Start Up of the Internal Trainee Programs
START UP OF THE INTERNAL TRAINEE PROGRAMS
Slide 47: Environmental Commitment
ENVIRONMENTAL COMMITMENT Global Reporting Carbon Disclosure Initiative (GRI)
Slide 48: 2013 Sustainability Award
2013 SUSTAINABILITY AWARD
Slide 49: International Recognition of Acerinox
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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Slide 51: Thank you very much
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