Annual Interim

US$m, unless otherwise shown, IFRS201020092008200720062005
Income statement*
Revenues13,3949,77220,38012,8598,2926,508
Cost of revenues

(10,319)

(8,124)(13,463)(7,976)(5,163)(4,172)
Gross profit3,0751,6486,9174,8833,1292,336
SG&A(1,539)(1,254)(1,751)(1,220)(737)(648)
EBITDA(1)2,3501,2376,2064,3052,6421,859
EBITDA margin18%13%30%33%32%29%
Profit from operations1,3301953,6323,4682,2981,582
Profit before tax695(338)3,0513,1252,0871,528
Net profit(2)5482951,7972,1031,377918
Earning per share/GDR(3), $3.95/1.32(2.19) / (0.73)14.55 / 4.8517.62 / 5.8711.66 / 3.878.14 / 2.71
Balance sheet*
Total assets17,60116,92519,45118,6378,5106,754
Net debt(4)7,1277,2309,0316,4041,7281,693
Equity5,9985,4424,6725,9504,0662,708
Minority interests247275245406169179
Cashflow statement*
Cashflow from operating activities1,6621,6984,5632,9942,0841,496
Cashflow used in investing activities(757)179(3,736)(5,650)(1,569)(1,753)
including Capex(832)(441)(1,103)(744)(651)(695)
Cashflow from/(used in) financing(886)(2,149)(127)2,112(341)607
Sales volume(5), ‘000 tonnes15,50614,28217,02116,43916,00012,860
* - For 2009 data: The amounts shown here do not correspond to the 2009 financial statements and reflect adjustments made in connection with the changes in accounting policies and the completion of initial accounting.
US$m, unless otherwise shown, IFRS

1H
2011

1H
2010		1H
2009		1H
2008		1H
2007		1H
2006
Income statement(unaud.)*
Revenues8,3806,3794,63910,7236,0183,825
Cost of revenues(6,183)(4,919)(4,297)(6,616)(3,724)(2,517)
Gross profit2,1971,460342 4,1072,2941,308
SG&A(996)(738)(595)(960)(492)(346)
EBITDA(1)1,6291,1544683,7062,0501,096
EBITDA margin19.4%18.1%10.1% 34.6%34.1%28.7%
Profit from operations859691(1,046)3,0561,745934
Profit before tax473307(1,260) 2,8891,625848
Net profit(2)258174(999)2,0391,122568
Earning per share/GDR(3), $1.86/
0.62

(1.26)/
(0.42)

(7.55)/
(2.52)		16.12/
5.37		9.52/
3.17		4.86 /
1.62
Balance sheet**
Total assets19,20217,53923,42424,23414,4467,432
Net debt(4)6,0427,1277,7839,0314,7431,833
Equity7,4665,9369,8847,2335,0733,445
Minority interests254247309374119217
Cashflow statement(unaud.)*
Cashflow from operating activities1,5947441,1232,4491,651904
Cashflow used in investing activities(457)(385)380(3,166)(3,636)(1,036)
including Capex(462)(397)(203)(528)(235)(262)
Cashflow from/(used in) financing(702)(304)(1,775)1,3041,525(45)
Sales volume(5), ‘000 tonnes7,9467,7146,8239,4738,4668,344
* - For 1H2010 data: The amounts shown here do not correspond to the 2010 unaudited interim condensed consolidated financial statements and reflect adjustments made in connection with the changes in accounting policies and the completion of initial accounting
** - For 1H2010 data: The amounts shown here do not correspond to the 2010 consolidated financial statements and reflect adjustments made in connection with the completion of initial accounting
  • (1) Adjusted EBITDA represents profit from operations plus depreciation and amortisation, impairment of assets and loss (gain) on disposal of PP&E.
  • (2) Attributable to equity holders of the parent entity.
  • (3) 1 share represents 3 GDRs.
  • (4) Net Debt represents long-term loans, net of current portion, plus short-term loans and current portion of long term loans less cash and cash equivalents (excluding restricted deposits).
  • (5) Steel product sales to external customers only.

Annual Interim

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