Investor Presentation • Oct 30, 2007
Investor Presentation
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AMG ADVANCED METALLURGICAL GROUP N.V.
Certain statements in this presentation constitute forward-looking statements, including statements regarding the company's financial position, business strategy, plans and objectives of management for future operations. These statements, which contain the words "believe," "expect," "anticipate," "intends," "estimate," "forecast," "project," "will," "may," "should" and similar expressions, reflect the beliefs and expectations of the directors of AMG Advanced Metallurgical Group N.V. (the "Company") and are subject to risks and uncertainties that may cause actual results to differ materially. These risks and uncertainties include, among other factors, the achievement of the anticipated levels of profitability, growth, cost and synergy of the Company's recent acquisitions, the timely development and acceptance of new products, the impact of competitive pricing, the ability to obtain necessary regulatory approvals, and the impact of general business and global economic conditions. These and other factors could adversely affect the outcome and financial effects of the plans and events described herein.
Neither the Company, nor any of its respective agents, employees or advisors intend or have any duty or obligation to supplement, amend, update or revise any of the forward-looking statements contained in this presentation.
The information and opinions contained in this document are provided as at the date of this presentation and are subject to change without notice.
This document has not been approved by any competent regulatory or supervisory authority.
Preeminent global specialty metals company organised in two business units
Advanced Materials: develops and produces a number of different niche and complex specialty metals
Engineering Systems: designs and produces advanced vacuum furnace systems
Market leadership in both segments based on superior technologies
Customers include world leading metals producers and consumers in high growth end-markets
Global presence with operations in 12 countries on 5 continents
LTM(1) revenue of \$1,011m and EBITDA of \$90m with attractive growth potential
(1) As per 30 June 2007
AMG ADVANCED METALLURGICAL GROUP N.V.
Note: This chart is a simplified depiction of AMG's organisational structure
(1) Timminco Limited is listed on the Toronto stock exchange (TIM CN / TIM.TO)
| P d t r o u c |
A l i i t p p c a o n |
C i iv P i i & G h P i l t t t t t t o m p e e o s o n r o w o e n a |
S l d C t t e e c e u s o m e r s |
|---|---|---|---|
| Fe d iu rro va na m • |
H ig h fo p er rm an ce • l loy ing in l t te a a g en s e |
La du f fe d ium in No h Am ica ly ing t p t • rg es ro ce r o rro va na r er s up p ha 2 % f No h Am ica ire t 5 t ts m or e n o r er n re q u m en |
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| Im l s h te tre t • p ro ve s s e ng ig h io to t r t w e a |
De d dr ive by ing l p du ion d inc ing te t m an n g ro w s e ro c a n re as • d ium in l te t te va na c on n s e |
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| Pr i l is ing da ia ls l ing f s i l t te t o • oc es s u s ec on ry ra w m a r re cy c o p en – f ine ly d lan i du ta ts t r re ry ca s an p ow er p es es |
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| Ex ion lan in dr ive by tro ke t • p an s p s p ro g re ss n s ng m ar fu da ls ta n m en |
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| S i l ico l ta • n m e |
Re lar i l ico l: ta • g u s n m e |
nd lar in de de du f s i l ico l in No h Am ica 2 t t p ta t • g es p en n ro ce r o n m e r er |
|
| in lu d in la c g so r de g ra |
C he ica ls ( lu br ica ) ts m n – |
So lar de i l ico l p du ion ta t g ra s n m e ro c • |
|
| A lum in ium ( l loy ing a a g en – |
Lo ie du ion hn log ( d ing ) ) t p ta t te te t p t w- co s ro p r ry p ro c c o y p a n en – |
||
| E lec ics tro n – ( ) ico du to se m n c rs |
fo ( T hr lon ig d lar de ia l te tra ts te to ee g- rm c on c s ne r s o g ra m a r up – ) 2 2, 0 0 0 l o f ive to to ta t nn es ve r n ex y ea rs |
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| H ig h i i l ico ty • p ur s n: |
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| ( ) En lar l ls er g y so c e – |
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| Sp ia l l lo ty ec a s • y fo i iu d t ta r n m a n |
Im h d tre t p ro ve s s ng an • fu ion l i f m ls t ty ta nc a o e |
O f fe i f ie d du lo ba l ly fo in t ta • ne o w ce r p ro ce rs g r c er ae ro sp ac e l loy a s |
|
| l lo su p er a y s |
Inc fu l e f f ic ien re as es e cy • |
S la ion h ip du l ia b i l i is i ica l tro to t t r ty t • ng c us m er re s as p ro c e cr |
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| Co fo he ts t m p on en r • d ae ro sp ac e, en er g y an ive in du ies to t tr au m o s |
So l i d ke fu da ls dr ive by de d fro t ta • m ar n m en n m an m ae ro sp ac e d to an en er g y se c rs |
Strong long-term customer relationships built on product quality and technical service
| A l i i t p p c a o n |
C i iv P i i & G h P i l t t t t t t o m p e e o s o n r o w o e n a |
S l d C t t e e c e u s o m e r s |
|---|---|---|
| Re f ine s ra • w ia ls, te ma r re mo ve s im i ies d t p ur a n inc re as es ho isa ion t m og en |
( 1) Es im d ke ha f a t te t s 5 5 % • a m ar re o p p ro x. G h dr ive by de lop f i ium in du t tro t o t ta try ro n s ng ve m en n s • w : Inc in ts re as e ae ro sp ac e co m p on en – fu f f Inc in l ig h d l e ic ien te tro t re as e r, s ng er a n m or e e – tra ta t ion te ia ls d ts ns p or m a r an co m p on en Inc in ing ke d in fra t e tru tu re as e em er g m ar ne rg an s c re y – de d m an |
|
| So lar fe • w a r du ion t p ro c |
( 1) Es im d ke ha f a 2 5 % t te t s a m ar re o p p ro x. • G lo ba l lea de in de ig f s lar i l ico fu te r s n o o s n rn ac e sy s m s • S ig i f ica inc in de d fo lar f lec d in fa t te t • n n re as e m an r s o e ne rg y re s ing de ba k log g ro w o r r c |
|
| f He t tre tm t o a a en • ive to t au m o g ea rs d fu l in j to an e ec rs inc to tre re as e s ss ler lev ls to an ce e |
O ing by O E Ms f n iv i ies du ing i l c tso t t ta ts ur c o on -c or e ac re c c ap os • u G d be f i ing fro A M 's fu ise t t an ne m va cu um rn ac e ex p er G h dr ive by inc ing de d fro ion fo t tra ta t to • ro w n re as m an m ns p or s ec r r h ig h fo in h ig h- l ica ion ts tre t p er rm an ce c om p on en s ss a p p s |
|
(1) 2006 market share estimate
| K l d n o w e g e S h i a r n g A h p p r o a c |
C b i i f l l i l d i i h d i k -h t t t t t t o m n a o n o m e a r g c a p r o c e p e r s e p r o c o n n o o • u u x w u w w P i d i i h i l i d d i l k h h d b k f f t t t t t r o e s n s g n s p p s e r e n s n m e a s m a r e s r o g o r e r o o o r n a c e s v u y u u – G b i l i h i h i i d d d i d i t t t t t t t r e a e r a o e a r n g e r m a r g n s n a r g e e p r o c s a n n s r e s y u u – M d i k l d h i b i ( l i i ) t t t t t a n a g e m e n r v e s n o w e g e s a r n g e w e e n u n s e. g. s o a r, a n u m • |
|---|---|
| i I t n n o v a v e P r o c e s s e s |
S l d i l i d i d l f h l t t • o a r g r a e s c o n p r o u c o n a n s o a r u r n a c e e c n o o g y P d i f f i t t t- t a e n p e n n g c o s e e c v e p r o c e s s – F d i d i t • e r r o v a n a u m p r o u c o n f f R l i i l i l d l i d d h t t t e c y c n g o o r e n e r y c a a y s s a n p o w e r p a n r e s u e s a n a s e s – |
| N i h c e d a n C l o m p e x P d t r o u c s |
H i h l i l i d d i d d t t • g y s p e c a s e a n c u s o m s e p r o u c s D d i h i h i f i i l d h i h- i t t t t t e m a n n g, g p u r y, s a e y -c r c a a n g s r e s s e n v r o n m e n s – I d f l f f i i i i l i h i h i i d t t t t n c r e a s e e e c e n c r e q r n g g e r e g n n o a e p r o c s u y u w v v u – L i i d b f i i f i i l b l l t t t t m e n u m e r o s g n c a n c o m p e o r s g o a y • |
| H i h l S k i l l d g y e E i n g n e e r s |
I d l l i l k -h f l d i d f h l i t t t t t t n e g r a e m e a u r g c a n o w o w o r m e a p r o u c o n a n u r n a c e e c n o o g e s • L b f d i d P h D d i i i f b i t t • a r g e n u m e r o g r a u a e e n g n e e r s a n s r v e n n o v a o n o u s n e s s e s |
| U i n q u |
l l i l i d i d f h i f i i d d l t t t t t e m e a r g c a e p e r s e e r e r o m a s o r o n n o a o n a n e e o p m e n u x v y v v |
• Second largest independent producer in North America
Largest global producer
Aluminium master alloys
Vacuum remelting systems
• Integral in production of metal alloys for high-intensity applications including jet engines and airframes
• Outstanding reputation for technological and service excellence in vacuum furnace systems
Market leadership through technology leadership
| En in in Sy te g ee r g s m s Le d ing lar i l ico l ing d l l isa ion t ta t • a s o s n m e a n cr y s fu lar ba k log ( Be l in ) rn ac es g e c r – Su ly ing ig i f ica ion f g lo ba l i ium in du t p t t ta try p p s n n or o n s • fu lar ba k log rn ac es g e c – Ow Op & ion te n er a e xp an s • So la Gr de S i l ico Me l ta r a n |
En in in Sy te g ee r g s m s Ow Op & ion te n er a e xp an s • Cu ba k log fo 2 0 0 8– 2 0 0 9 h ic h t • rre n c r w ds 2 0 1 0 te to ex n S in ing fu fo b b le be d lea te • r rn ac es r p e nu c r to re ac rs So S la Gr de i l ico Me l ta r a n |
Fe d iu d Fe ic ke l rro va na m a n rro n M ly b de o nu m Inc ing i inc i de i h ty to t • re as c ap ac c o w f ine ion in A l be i l s ds ta re ry ex p an s r o an E lec ic fu ion l ine tr ar c rn ac e ex p an s o n- • 2 0 1 1– 2 0 1 2 Do b le fe d ium du ion t • u rro va na p ro c |
|---|---|---|
| Co ly ig d fo tra ts t to 2 2, 0 0 0 to • n c re ce n s ne r u p nn es o ve r t 5 ne x y ea rs Cu l c i f 3 0 0 t a ty to rre n nn ua ap ac o nn es • Sp Su ia l A l lo fo T i iu d l lo ty ta ec y s r n m a n p er a y s fo Fo d in du try 's d ig h t • cu se on a er os p ac e s ne e r w e du ion im fu l e f f ic ien t to re c p ro ve e cy Ca i ion ty • p ac ex p an s C hr iu Me l ta om m De d ha is ics im i lar ic ke l m ke te t to t m an c ra c r s n ar • C h ina ins i d 1 No 2 0 0 6 l ing in t tu te t ta t ex p or x on v re su • ( 1) 2 2 % ice ia t ion inc 1 Ja 2 0 0 7 a p r a p p re c s e n Ta lu ta n m Fa b le ly / de d dy ics U S t • vo ur a su p p m an na m p os kp i le le t s to g ov er nm en c sa |
Co ly ig d fo tra ts t to • n c re ce n s ne r u p 2 2, 0 0 0 to t 5 nn es o ve r n ex y ea rs Ca i ion fu de d by ty • p ac ex p an s n T im inc 's i i l r is ing ty ta m o eq u ca p a s S i l ic Me l ta on Ca i im isa ion ty t t • p ac op Co t in Ma te ia ls a g r Ne du fo h in f i lm lar ke ts t t • w p ro c r s o m ar P las ing t • m a co a s Fe d iu d Fe ic ke l rro va na m a n rro n M ly b de o nu m |
i ty ca p ac So la Gr de S i l ico Me l ta r a n Fu he ion t • r r e xp an s P las Co in t m a a g Ex ion p an s • |
| Ex ion do b le l m in ing i to ty p an s an nu a c ap ac • u f Ex ion hy dr lec ic lan tr t p an s o o- e p ow er p • N T e a r- e r m ( 2 0 0 2 0 0 8 ) 7– |
Ca i ion in 2 0 0 9– 2 0 1 0 ty • p ac ex p an s iu Ma g ne s m Pr im ium du ion j t t ar m ag ne s p ro c p ro ec • y M i d- T e r m ( 2 0 0 8– 2 0 1 0 ) |
L T o n g e r m - ( 2 0 1 0 ) + |
(1) As per 30 September 2007
AMG ADVANCED METALLURGICAL GROUP N.V.
Source: Boeing and Airbus
for titanium, chromium metal and high-end superalloys Source: Allegheny Technologies investor presentation
Source: Solarbuzz
Source: Broker research
Tantalum
Favourable supply / demand dynamics support positive pricing outlook in AMG's key markets
(1) As per 30 September 2007
• Vanadium pricing has remained stable and strong, although nickel prices retreated from their peak
Source: Ryan's Notes
AMG ADVANCED METALLURGICAL GROUP N.V.
| C a |
P p e x r o |
i i i F d A G h O t t t t t t g r a m m e s o c u s e o n r a c v e r o w p p o r u n e s |
|
|---|---|---|---|
| Pr du t o c |
Am t ou n |
Pu rp os e |
T im in g |
| Fe d iu rro va na m |
\$ 3 0m |
F irs ha f e io b le do b l ing f c i in l ine i h j l ie 's t p to ty t se o xp an s n e na u o ap ac w m a or s up p r Ca d ia i l s ds io na n o an e xp an s n |
2 0 0 2 0 0 9 7– |
| ( 1) S i l ico n |
\$ 2 2m |
Ex io f T im inc 's h ig h i i l ico l fa i l i ty ta ty p an s n o m o p ur s n m e c |
2 0 0 2 0 0 8 7– |
| Sp ia l l loy fo ty ec a s r i iu d l loy t ta n m a n su p er a s |
\$ 5m |
Ne fu fo du io io t rn ac e r p ro c n ex p an s n w |
2 0 0 8 |
| Ow & O te n p er a |
\$ 1 5m |
Ne fa i l i in M ico ty w c ex |
2 0 0 2 0 0 8 7– |
| Ta lu ta n m |
\$ 7m |
Ex io f l i ine d hy dr lec ic la in Br i l ta ta te tr t p an s n o n m a n o- e p ow er p n az |
2 0 0 7– 2 0 0 8 |
| P las ing t m a co a s |
\$ 4m |
Ex io in ing du to t ts p an s n n ew c oa p ro c |
2 0 0 8 |
| M in te a na nc e ca p ex |
\$ \$ 8– 1 0m |
M in f fa i l i ies d ip te t t a na nc e o c a n eq m en u |
An l ba is nu a s |
(1) Excludes further expansion projected in context with Timminco's equity offering on 30 September 2007
| \$ in mi llio ns) |
|||
|---|---|---|---|
| J U NE 3 0- -07 |
J U NE P F 3 0- -07 |
||
| Ca h s |
\$ 77 |
(1) \$ 17 8 |
|
| Cu ' d its sto me rs ep os |
( 13 4 ) |
( 13 4 ) |
\$ 1 4 4 i l l i f l i i d i ( l t m o n o q u y r e v o v e r |
| Av ila b le h a ca s |
( ) 57 |
44 | ) i l b i l i l h- h d t a a a p s c a s o n- a n v y u |
| S ho de bt rt-t erm |
73 | 26 | |
| Lo -te de bt ng rm |
21 6 |
10 7 |
|
| To ta l d bt e |
\$ 28 9 |
\$ 13 4 |
|
| Ne de bt t |
\$ 3 46 |
\$ 9 0 |
( ) 2 N D b f l 1. 0 L T M E B I T D A t t e e o o n y x |
| S ha ho lde ' e ity re rs q u |
4 | 25 6 |
|
| To l c ita lisa ion ta t ap |
\$ 29 4 |
\$ 38 9 |
AMG ADVANCED METALLURGICAL GROUP N.V.
| C P R O D U T |
C F U N T I O N A L I T Y |
C S A P P L I A T I O N |
S E N D- M A R K E T |
2 0 0 6 R E V E N U E |
|---|---|---|---|---|
| Fe d ium rro va na |
Im h t • tre t p rov es s ng o ig ht io d t we ra an du i l ity f s l t tee c o |
H ig h s h s l, ba • tre t tee ng re r d p ip ing an |
In fra • tru tu s c re, e ne rg y d ion tra ta t an ns p or |
\$ 6 7m |
| ic Fe ke l rro n ly b de mo nu m |
Co ion is tan • rro s re s ce |
S in les l ta tee • s s |
Ae • ros p ac e |
\$ 2 0m |
| S i l ico l ta n m e inc lu d ing lar de so g ra |
Im • p rov es du iv ity t co n c Pr i de ion • ov s c or ros is tan res ce Inc ha dn • rea se s r es s |
Se ico du f i bre ic • to t m n c rs, o p b les lar l ls, lan ts, ca so ce se a , lu br ica ics nts t co sm e , |
E lec ics • tro n , lar ho lta ic, tov so -p o he ica l a d c m n lum in ium a |
\$ 9 0m |
| A lum in ium te m as r l loy / c d te a s om p ac l loy ing du ts a p ro c |
fac Im • p rov es su r e ap p ea ran ce , tre t h a d du t i l ity s ng n c f a lum in ium o |
A lum in ium b i l le ts, • ion he fo i l, tru t, ex s s, s e lec tr ica l c b les d e a a n be ve rag e c an s |
Tr ta t ion • an sp or , ion tru t co ns c , d ae ros p ac e a n ka ing p ac g |
\$ 1 3 9m |
| C hr ium ta l om m e |
Im h ig h • p rov es tem tu p era re , w ea r d c ion an or ros is f s tan res ce o up er l loy a s |
Je ine b ine t e tu • ng s, g as r s, d p ip d in p um p s a n es us e he ica l re f ine ies tro p e c m r |
Ae • ros p ac e, en erg y d tra ta t ion an ns p or |
\$ 3 6m |
| Ma ium tru ion g ne s ex s s d fa br ica d te an du ts p ro c |
Co ion ion tec t • rro s p ro , ig ht du t ion we re c |
W he de ho te te to • a r a r a no s, p ing tru t ion en g rav co ns c , ls d s ing ds too t an p or g oo |
Du b le ds • ra g oo , tru t ion int ing co ns c p r , d le isu ds an re g oo |
\$ 6 5m |
| F U N C T I O N A L I T Y |
A P P L I C A T I O N S |
E N D- M A R K E T S |
2 0 0 6 R E V E N U E |
|---|---|---|---|
| Im h • tre t p rov e s ng d fun ion l ity t an c a f m ls ta o e |
Tu b ine • r ts co mp on en |
Ae • ros p ac e, d en erg an y ive tom t au o |
\$ 5 4m |
| Im • p rov e w ea r is i tan t res ce an , f lec t ing re ing i de t co a s, p rov s d tra nt ns p are an du ive lay t co n c ers |
To ls, t • o co mp on en de ive ts, t p ar co ra , t ics op , ho lta ics tov p o |
fra In tru tu • s c re, lec ics d tro e n a n en erg y |
\$ 2 9m |
| Im • p rov e du iv ity t co n c , is he tan to t res ce a d c ion in an or ros ic ke l a d c ba lt n n o ba d s l se up era s |
E lec ic • tro n ito ca p ac rs |
E lec ics d • tro n a n ion tru t co ns c |
\$ 1 0m |
| F lam da ta nt • e r e r |
Ca b le ho ing • us s, las t ics tex t i les p , |
E lec ics tro • n , bu i l d ing te ia ls m a r d ion tra ta t an ns p or |
\$ 6 0m |
| Im • p rov e b ioc i b i l ity t om p a , im l loy ing p rov e a , im du iv ity t p rov e c on c |
Me d ica l im lan ts, • p int ts p a s, ma g ne |
Me d ica l • |
\$ 5 9m |
| loy |
| C F U R N A E T Y P E |
S C C C P E I F I P R O D U T |
C S A P P L I A T I O N |
S E N D- M A R K E T |
2 0 0 6 R E V E N U E |
|---|---|---|---|---|
| Re lt ing me |
Va lt ing fur • cu um a rc rem e na ce s E lec lag lt ing fur • tro s re me na ce s |
To l s ls, ita ium ing d • tee t ts o n o an l loy ing ts su p era s o |
Ae he ica l, • ros p ac e, c m en erg y, ion d m d ica l tra ta t ns p or an e |
\$ 6 6m |
| So lar i l ico lt ing s n m e d c l l isa ion ta t an ry s |
S i l ico lt ing d c l l isa ion • ta t n m e an ry s fur na ce s |
H ig h p ity lar i l ico ing • ts ur so s n o d in he du ion f w fer t t us e p ro c o a s |
En ( lar ho lta ic ) • tov erg y so p o |
\$ 1 9m |
| Va in du ion t cu um c ing lt me |
Va in du ion de ing d t • cu um c g as s an fur ing p ou r na ce s |
Su l loy d s ia lty l loy • p era s a n p ec a s for to ls o S l a d r ds tee • n o |
Ae ion d tra ta t • ros p ac e, ns p or an he ica l c m |
\$ 1 7m |
| Va he t t tm t cu um a rea en it h h ig h p w re ss ur e g as h ing q ue nc |
Va in ha de ing • cu um ca se r n fur na ce s P las bu is ing fur • ma ca r r na ce s |
Ge d ies l fue l in j d • tor ars e ec s a n , ls too |
Tr ion d • ta t an sp or ae ros p ac e a n , l ing too |
\$ 1 6m |
| is ion Va cu um p rec ing t ca s |
Pr is ion ing fur for t • ec ca s na ce s S / S C iax ing d D t eq u ca s an ing t ca s |
Co for • ts mp on en ae ros p ac e ine d in du ia l g tr en g s a n s as b ine l f c lu bs d m d ica l tur s, g o an e im lan ts p |
Ae d ica l a d • ros p ac e, en erg y, me n le isu re |
\$ 1 0m |
| Tu b ine b la de ing t r co a |
E lec be hy ica l v • tro n am p s ap ou r de it ion fur p os na ce s |
Co ing for b ine b la de • t tu a s r for ts co mp on en ae ros p ac e ine d in du ia l g tr en g s a n s as b ine tur s |
Ae d e • ros p ac e a n ne rg y |
\$ 9m |
| S int ing er |
Va int ing fur • cu um s er na ce s H ig h p int ing fur • res su re s er na ce s |
To ls, d n lea fue ls ts • o m ag ne an uc r |
To l ing lea d • o nu c r e ne rg an y, , ta ls me |
\$ 8m |
| Ow & Op te n er a |
Va bu iz ing l ica t ion • cu um ca r r ap p s |
Ge d in j tor • ars an ec s |
Tr ta t ion d • an sp or ae ros p ac e a n , too ls |
\$ 2 2m |
| Ins P ic t tu er re |
Ins P ic t tu er re |
Ins P ic t tu er re |
Ins P ic t tu er re |
|
|---|---|---|---|---|
| H i e nz S h i l b h c m m e u s c C E O d C ha irm f t he an an o Ma Bo d t na g em en ar |
S A hu t t r r p e c o r De C ha irm ty p an u f t he Ma Bo d t o na g em en ar |
i E J k r c a c s o n Pr i de A dv d nt es an ce Ma ia ls d Me be f ter an m r o he Ma Bo d t t na g em en ar |
i R h d W l t e n a r a e r Pr i de En ine ing nt es g er Sy d Me be tem s s a n m r f t he Ma Bo d t o na g em en ar |
W i l l i J. L a m e vy C F O d Me be an m r f t he Ma Bo d t o na g em en ar |
| Fo de d Sa feg d un ua r • Int ion l a Ma ing t er na a s na g Pa in 1 9 9 rtn 7 er Cu ly C ha irm f nt • rre an o T im inc d D ire f to m o a n c r o No i ls k N ic ke l r C f Fo ha irm • rm er an o Me l lg l lsc ha ft a d ta es e n Co Me ha ion d t t ne x rp ora a n D ire f M M C ( tor c o no w ) Inm t M in ing e |
Fo de d Sa feg d • un ua r Int ion l a Ma ing t er na a s na g Pa in rtn 1 9 9 7 er Cu ly V ice C ha irm f nt rre an o • T im inc m o Fo C ha irm C E O f rm er an o r o • Ne Sy S tem ta te ow ar e s s, Na ion l Ba k o f Ma lan d t a n ry d A bra ha L inc ln an m o Fe de l Sa ing Ba k ra s n v |
C O O f Me l lur ta o g • inc 2 0 0 2 s e Se f ior V ice -P i de nt • n res o Me l lur 's No h a d ta rt g n So t h Am ica t ion u er n o p era s inc 1 9 9 8 s e |
C ha irm f A L D inc Ju ly an o s e • 2 0 0 4; j ine d 2 0 0 1 o C C O De ty ha irm d F • p u an a n f V B H Ho l d ing A G fro o m 1 9 9 7 t 2 0 0 1 o |
V ice Pr i de d C F O f nt es an o • Me l lur inc No be ta g s e ve m r 2 0 0 5 Fo C F O f P Q • rm er o Co t ion rp ora W it h Im ia l C he ica ls p er m • C In du ies P L in he U K tr t s d U S fro 1 9 8 4 t 1 9 9 6 an m o Ce i f ie d p b l ic rt tan t • u ac co un |
Proven leadership with extensive experience in metallurgical and finance industries
| P d P b l e r o- a o Ku k i c n s zy C ha irm a n |
f ( ) Pr im M in is te Pe 2 0 0 5 & 2 0 0 6 e r o ru • Pe 's M in is f Ec d F ina ( 2 0 0 1– 2 0 0 2 & 2 0 0 4– 2 0 0 ) ter 5 ru o on om y an nc e • ( ) Ge Pe 's M in is f En d M ine 1 9 8 0- 1 9 8 2 d De D ire l o f t he Pe ian Re Ba k, la 1 9 6 0s ter ty to te- ru o erg y an s an p u c r ne ra ruv se rve n • Fo de d he La in Am ica En ise Fu d, iva ity f irm in 1 9 9 2; C ha irm f F irs Bo Int ion l, 1 9 8 2– 1 9 9 2 t t te te t ton t un er n rp r n a p r eq u an o s er na a • , Se Gr ior dv iso he Ro ha r to t ty n a n ou p • |
|---|---|
| A d i n r e B o u g r o v D ire t c o r |
Bo d m be f Int ion l Ba k fo Re ion d De lop he Int ion l De lop As ia ion d he t tru t nt, t t nt t t ar em r o er na a n r co ns c a n ve me er na a ve me so c a n • Int ion l F ina Co ion ( be ) t t tw 1 9 9 3– 2 0 0 2 er na a nc e rp ora ee n A dv ise he Eu Ba k fo Re ion d De lop in he U K ( be 1 9 9 1- 1 9 9 3 ) d a dv ise he D ire r to t tru t nt t tw r to t tor te rop ea n n r co ns c a n ve me ee n an n a c a • fo Or fo f fa So ( ) Int t ion l Ec ic isa t ion M in is try Fo ig A irs T he ie t Un ion be tw 1 9 7 9- 1 9 8 2 r er na a on om g an s, r re n v ee n , D ire f I / S T Eq ity Pa No i ls k N ic ke l a d Ro ba k tor rtn c o u ers r n s n • , |
| W l e s e y C l k a r D ire t c o r |
S Su Co O Un ite d Ar ke d a fou l; A l l ie d de Eu f N A T ( 1 9 9 7– 2 0 0 0 ) ta tes ta my ran r-s r g en era p rem e mm an r, rop e, o • , Ca d i da fo he De ic ina ion fo he Pr i de f t he Un ite d S te r t t t r t nt ta tes n mo cra no m es o • C ha irm f Ro dm & Re ha inv ba k tm t an o an ns w es en n • |
| J k L. a c M e s s m a n D ire t c o r |
Fo Pr i de d C E O f No l l Inc nt rm er es an o ve • Fo C E O f Un ion Pa i f ic Re Co rm er o c so urc es mp an y • D ire f Un ion Pa i f ic Co ion W Am Ca b le Co ica ion Inc d M T V Ne ks Inc tor t t tw c o c rp ora ar ne r ex mm un s, . a n or • , , f t f f Sa feg Sc f S Co Me be he bo d o d ire to d ien t i ics Inc Ra d io ha k t ion d T im inc L im ite d m r o ar c rs o ua r c rp ora a n m o • ., |
| N b t o r e r Q i k t u n e r D ire t c o r |
C ha irm f Mo la Gm b H ( 1 9 9 ) to 5 an o ro • Ce G Sy Ce Ge V ice i de f l Eu ion fo E Me d ica l l Eu d Pr i de f l E lec ic De h lan d nt ntr t te ntr nt tr tsc -p res o a rop ea n o p era s r s ms a rop e a n es o ne ra u • Me be f t he iso bo d o f P F W Ae d Mo la Gm b H bo h ba d in Ge to t m r o su p erv ry ar ros p ac e a n ro se rm an y. • Me be f t he dv iso i l o f Dr dn K le inw Be Fra k fu t rt m r o a ry co un c es er or ns on n • , |
| G u y D S l l i e e e r s D ire t c o r |
C ha irm f H B A dv iso f ina dv iso f irm foc d o ls d m in ing in du te ta try an o rs, a co rp ora nc e a ry us e n m e an s • Fo Bo d Me be d C ha irm f Ro be F lem ing & Co L im ite d, Ea Eu rt te rm er ar m r a n an o s rn rop e • So S. D ire f lva A. No i ls k N ic ke l a d s l o he Ru ian ies tor t c o y, r n ev era r ss co mp an • , |
| \$ in ( tho nds ) usa |
YE AR E ND ED 31 |
EC D EM BE R |
SIX S E M ON TH ND ED 30 JU NE |
|
|---|---|---|---|---|
| FY 20 05 |
FY 20 06 |
1H 20 06 |
1H 20 07 |
|
| Co nti ing tio nu op era ns |
||||
| Re ven ue |
90 6, 71 1 |
92 7, 80 8 |
46 0, 92 1 |
54 3, 85 3 |
| Co of les st sa |
72 8, 83 4 |
77 7, 20 3 |
38 5, 74 2 |
44 5, 67 2 |
| Gr rof it os s p |
177 87 7 , |
15 0, 60 5 |
75 17 9 , |
98 18 1 , |
| Se llin ral d a dm inis tiv tra g, ge ne an e e xp en se s |
100 09 5 , |
97 23 6 , |
47 29 4 , |
53 40 6 , |
| Re str uct uri d a et im irm t e ng an ss pa en xp en se |
20 96 1 , |
19 34 1 , |
4, 183 |
30 |
| En v ir l E nta on me xp en se s |
199 | 11 04 4 , |
5, 88 2 |
20 2 |
| Ot he r e xp en se s |
2, 98 8 |
1, 32 4 |
– | – |
| C t G Pe ion urt ailm ain ns en |
– | ( ) 15 159 , |
– | – |
| Ot he r in co me |
( 3) 6, 41 |
( 4) 1, 26 |
( 5) 56 |
( ) 1, 182 |
| Op tin rof it era g p |
60 04 7 , |
38 08 3 , |
18 38 5 , |
45 72 5 , |
| Lo tin ish of de bt nt ss on ex gu me |
10 23 4 , |
– | – | – |
| Int st ere ex pe ns e |
33 20 7 , |
36 55 9 , |
– | – |
| Int st Inc ere om e |
( 8) 3, 96 |
( 4) 3, 54 |
– | – |
| Ne t fi ts na nc e c os |
39 47 3 , |
33 01 5 , |
14 32 3 , |
14 36 7 , |
| Sh of of i f a t o iat are pr ss oc es |
44 7 |
( 2, 37 2) |
( 1, 28 7) |
( 1, 08 5) |
| Pr ofi t b efo inc e t re om ax |
21 02 1 , |
2, 69 6 |
2, 77 5 |
30 27 3 , |
| Inc e t om ax ex pe ns e |
16 33 2 , |
8, 38 3 |
3, 77 6 |
11 63 9 , |
| Pro fit for th e y ea r |
4, 68 9 |
( 5, 68 7) |
( 1, 00 1) |
18 63 4 , |
| Att rib ble uta to : |
||||
| Sh ho lde of the C are rs om pa ny |
16 87 4 , |
4, 50 7 |
( 15) |
19 158 , |
| Min ori int ty sts ere |
( 12 185 ) , |
( 10 194 ) , |
( 98 6) |
( 52 4) |
| (\$ in ) tho nds usa |
YE AR EN DE D 3 1 D |
EC EM BE R |
SE CO ND QU AR TE R |
|
|---|---|---|---|---|
| FY 200 5 |
FY 200 6 |
30 JU NE 20 07 |
||
| Ass ets |
||||
| Pro pla nd ipm ty, nt a ent per equ |
105 ,79 2 |
101 ,25 6 |
– | |
| Inta ngi ble set as s |
42, 367 |
44, 898 |
– | |
| Inv est nts in a ciat me sso es |
11, 734 |
13, 303 |
– | |
| Def d ta ts erre x a sse |
16, 639 |
21, 731 |
– | |
| Oth ts er a sse |
4,5 96 |
4,9 81 |
– | |
| Tot al n t as set on- cur ren s |
181 ,12 8 |
186 ,16 9 |
212 ,30 3 |
|
| Inv ent orie s |
153 ,33 2 |
159 ,65 1 |
168 ,61 7 |
|
| Tra de and oth iva ble er r ece s |
128 ,01 0 |
140 ,97 6 |
182 ,45 0 |
|
| De riva tive fin ial inst ent anc rum s |
1,8 96 |
2,4 48 |
– | |
| Oth nt a ts er c urre sse |
– | – | 45, 531 |
|
| Pre nts pay me |
31, 221 |
26, 784 |
– | |
| Cas h a nd h e qui val ent cas s |
50, 317 |
54, 610 |
178 ,07 5 |
|
| Tot al c ent set urr as s |
364 6 ,77 |
384 ,46 9 |
574 ,67 3 |
|
| Tot al a ts sse |
545 ,90 4 |
570 ,63 8 |
786 ,97 6 |
|
| Eq uity |
||||
| Issu ed ital cap |
– | 59 | – | |
| Sha ium re p rem |
129 ,13 1 |
129 ,98 6 |
– | |
| Oth er r ese rve s |
(3,5 93) |
(15 ,31 3) |
– | |
| Ret ain ed nin ear gs |
(15 47) 3,3 |
(14 40) 8,8 |
– | |
| uity rib of Co Eq att uta ble to sha reh old the ers mp any |
(27 9) ,80 |
(34 8) ,10 |
225 ,28 4 |
|
| Min orit y in ter est s |
18, 984 |
10, 367 |
30, 434 |
N D b t t: e e |
| Tot al e qui ty |
(8,8 25) |
(23 ,74 1) |
255 ,71 8 |
4 4. 5 m m + |
| Lia bili ties |
||||
| Loa and bo ing ns rrow s |
199 ,28 0 |
185 ,38 6 |
107 ,17 3 |
|
| Rel d p de bt ate arty |
3,8 81 |
721 | – | |
| Em plo be nef its yee |
105 ,48 5 |
94, 245 |
– | |
| Pro vis ion s |
14, 491 |
5,8 35 |
– | |
| Oth er l iab ilitie s |
8,0 31 |
9,5 79 |
136 ,42 3 |
|
| Def d ta x lia bilit ies erre |
10, 562 |
12, 989 |
– | |
| Tot al n t lia bili ties on- cur ren |
341 ,73 0 |
308 ,75 5 |
243 ,59 6 |
|
| Loa and bo ing ns rrow s |
7,7 79 |
22, 659 |
26, 481 |
|
| Sho rt-te ban k d ebt rm |
41, 749 |
53, 180 |
– | |
| Rel d p de bt ate arty |
5,4 57 |
14, 815 |
– | |
| Tra de and oth ble er p aya s |
78, 414 |
93, 841 |
122 ,19 7 |
|
| Oth er l iab ilitie s |
40, 095 |
44, 417 |
71, 764 |
|
| De riva tive fin ial inst ent anc rum s |
1,9 50 |
1,3 03 |
– | |
| Adv ent anc e p aym s |
18, 952 |
29, 739 |
67, 220 |
|
| Cu yab le t ta rren xes pa |
7,7 16 |
13, 126 |
– | |
| Pro vis ion s |
10, 887 |
12, 544 |
– | |
| Tot al c ent lia bili ties urr |
212 ,99 9 |
285 ,62 4 |
287 ,66 2 |
|
| Tot al l iab iliti es |
554 ,72 9 |
594 ,37 9 |
531 ,25 8 |
|
| Tot al e qui nd liab iliti ty a es |
545 ,90 4 |
570 ,63 8 |
786 ,97 6 |
| \$ in ( tho nds ) usa |
YE AR EN DE D 3 1 D EC EM BE R |
SIX M ON TH S E ND ED JU NE 30 |
||
|---|---|---|---|---|
| FY 20 05 |
FY 20 06 |
1H 20 06 |
1H 20 07 |
|
| Ca sh flo fro tin cti vit ies ws m op era g a |
||||
| Pro fit f the riod or pe |
4, 68 9 |
( 5, 68 7) |
( 1, 00 1) |
18, 63 4 |
| Ad jus s fo tm ent r: |
||||
| De cia tio nd ort iza tio pre n a am n |
18, 27 2 |
18, 52 9 |
8, 46 1 |
9, 27 8 |
| Pe nsi tai lme ain nt g on cur |
– | ( 15, 159 ) |
– | – |
| Re str uct uri d im irm ent los ng exp en se an pa ses |
20 96 1 , |
19, 34 1 |
– | – |
| En viro al e ent nm xpe nse |
15 1 |
11, 844 |
– | – |
| Ne t fi sts na nce co |
29 23 9 , |
33 01 5 , |
– | – |
| Sh of los s ( fit) of oci ate are pro ass s |
( 44 7) |
2, 37 2 |
– | – |
| Los ale dis al o f p lan nd uip ert t a nt s o n s or pos rop y, p eq me |
692 | 2, 61 7 |
– | – |
| Eq uity ttle d s ha bas ed nt t tio -se re- pay me ran sac ns |
28 2 |
38 6 |
– | – |
| Inc e t om ax exp en se |
16, 33 2 |
8, 38 3 |
– | – |
| Ch in w ork ing ital an ge ca p |
1, 41 8 |
( 16, 25 5) |
( 28 334 ) |
4 |
| Oth er |
( 6) 4, 27 |
( ) 1, 644 |
, 135 |
( 5) 1, 86 |
| Inte aid t p res |
( ) 22 012 , |
( 0) 28 65 , |
||
| Inc id e t om ax pa |
( 6, 692 ) |
( 5, 79 9) |
( 15 13 1) , |
( 21 52 2) , |
| Ca sh id f div ide nds pa or |
– | – | ||
| No ash n-c ex pe nse s |
– | – | 30 28 3 , |
27 113 , |
| Ne t c h f low s f tin cti vit ies as rom op era g a |
58 60 9 , |
35 23 3 , |
( 5, 58 7) |
31 64 2 , |
| Ca flo in in sti tiv itie sh ed ws us ve ng ac s |
||||
| fro of Pro ds ale ert lan t a nd uip nt cee m s pr op y, p eq me |
19 1 |
42 0 |
– | – |
| Ca sh eiv ed for eiv ab le te rec no rec |
1, 35 3 |
– | – | – |
| Ac isit ion of iate qu as soc s |
( 2) 38 |
( 3) 4, 00 |
– | – |
| Ac isit ion of lan nd uip ert t a nt qu pr op y, p eq me |
( 13, 65 9) |
( 24 29 2) , |
( 10 45 8) , |
( 18, 174 ) |
| Ac isit ion of h et qu s, n cas |
– | – | ||
| Re late d p art loa ns y |
( 14, 31 2) |
( 11, 04 6) |
– | – |
| Oth er |
( 4, 28 2) |
( 112 ) |
||
| Ne h f low d i n i ing tiv itie t c est as s u se nv ac s |
( 26 80 9) , |
( 38 92 1) , |
( 14 74 0) , |
( 18 28 6) , |
| Ca sh flo fro (us ed in ) fin cin cti vit ies ws m an g a |
||||
| Pro ds fro iss of de bt cee m ua nce |
20 9, 89 3 |
26 61 9 , |
4, 89 3 |
( 18, 59 0) |
| Pa of ctio ent tra ost ym nsa n c s |
( 7) 13, 48 |
( 7) 20 |
– | – |
| Re f b ing nt o pay me orr ow s |
( 21 9, 88 3) |
( 11, 87 8) |
– | – |
| Iss of Sh ua nce are s |
– | 59 | – | – |
| Ca ital inf usi p on |
– | – | – | 26 59 9 , |
| Oth er |
( 4) |
( 12 1) |
135 | – |
| Ne h f low s f (u d i n) fin cin cti vit ies t c as rom se an g a |
( 23 48 1) , |
14 47 2 , |
4, 76 3 |
8, 00 9 |
| Ne t d in sh d c h e iva len ts ec rea se ca an as qu |
8, 31 9 |
( 1, 09 6) |
( 15 56 4) , |
21 36 5 , |
| Ca sh d c ash uiv ale 1 Ja nts at an eq nua ry |
45 82 7 , |
50 31 7 , |
50 31 7 , |
54 61 0 , |
| Eff of cha fluc tio h h eld ect te tua ex nge ra ns on cas |
( 9) 3, 82 |
5, 38 9 |
2, 64 6 |
1, 40 2 |
| Ca sh d c h e iva len De mb ts at 31 an as qu ce er |
50 31 7 , |
54 61 0 , |
37 39 9 , |
77 37 7 , |
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