The document is a presentation by United States Steel Corporation given at the Credit Suisse Global Steel and Mining Conference on September 24, 2008. It provides an overview of USS's business segments, including its flat-rolled, tubular, and European steel operations. It also discusses USS's raw materials integration in North America and capital allocation approach to maintaining a strong balance sheet and generating returns for shareholders.
KeyBanc Capital Markets Basic Materials and Packaging Conferencefinance15
This document provides an overview and summary of United States Steel Corporation's operations presented at a conference in September 2008. It discusses USSC's goal of growing responsibly while generating returns. It summarizes USSC's production capabilities, acquisition of Stelco, synergies from the Stelco acquisition, overview of its flat-rolled, European, tubular, and Canadian segments. It also discusses industry trends, the improving steel industry outlook, and being bullish on North America.
The document summarizes United States Steel Corporation's operations and outlook. It discusses the company's position as the 5th largest global steel producer and 2nd largest producer in North America. It also outlines U.S. Steel's segments including flat-rolled steel, U.S. Steel Canada, European operations, and tubular products. Finally, it expresses optimism about the outlook for North American integrated steel producers.
J. P. Morgan Basics & Industrials Conferencefinance15
The document provides an overview of United States Steel Corporation. It discusses USS's position as the 5th largest global steel producer and 2nd largest producer in North America. It also summarizes USS's raw material integration, segments (flat-rolled, tubular, European), recent acquisition of Stelco, and outlook on the steel industry and capital allocation. The presentation aims to show how USS is growing responsibly while generating returns and meeting financial obligations.
1. Copper prices rose in July, reaching over $5,750 per tonne, on concerns over tight supply and healthy Chinese demand. However, GFMS forecasts an overall copper surplus of 245,000 tonnes for 2009 as consumption declines outweigh production losses.
2. GFMS expects copper prices to fall to around $5,000 per tonne before recovering later in the year, and forecasts prices will trade between $5,000-6,500 per tonne from August to November.
3. Recent copper market news included production declines reported by several major miners as well as a rise in Japanese copper cable shipments, although shipments remain well below last year's levels.
The document discusses different perspectives on energy risks in 2011, including importing countries concerned with supply security, energy users facing price volatility and transition to new fuels, exporting countries dealing with changing demand patterns, and stakeholders focused on environmental risks. It also examines the investing company's perspective on technical, environmental, and market risks in the energy industry in 2011.
- El Paso Corporation has made significant progress in its turnaround, reducing debt from $20.5 billion to $15.9 billion and selling $4.3 billion in assets to focus on its pipeline and production businesses.
- The company's pipeline group owns major interstate pipelines and has a portfolio of growth projects to expand access to new natural gas supplies and growing markets. Its production business has stabilized production and increased reserves through acquisitions and improved drilling.
- Moving forward, El Paso aims to further reduce debt, generate free cash flow, complete the turnaround of production, and achieve additional cost reductions as it builds on its recent successes.
This document outlines the specifications and application procedures for refineries to have their gold and silver bars listed as "Good Delivery" by the London Bullion Market Association (LBMA). Some key points:
- Refineries must meet certain criteria including a minimum production level, net worth, and years in operation to be considered for the Good Delivery List.
- The application process involves submitting documents about ownership, operations, and finances. Refineries must also demonstrate assaying capability by analyzing reference samples to strict accuracy standards.
- If the application is accepted, the refinery provides bars for technical testing to specifications covering dimensions, weight, purity, and other quality metrics. Successful applicants are added to the Good Delivery
Rowan provided an investor presentation in December 2015. The presentation discussed Rowan's position as a pure play offshore driller with a high-specification fleet. It highlighted Rowan's strong financial position, experienced workforce, and contract backlog diversified among premium customers and regions. The presentation also analyzed market dynamics, noting that more capable rigs are likely to work through the challenging market cycle due to customer demand for higher-specification assets. Rowan believes its strategic focus on demanding wells positions it to benefit from executing operational efficiency, cost control, and optimal capital allocation to deliver strong shareholder returns.
KeyBanc Capital Markets Basic Materials and Packaging Conferencefinance15
This document provides an overview and summary of United States Steel Corporation's operations presented at a conference in September 2008. It discusses USSC's goal of growing responsibly while generating returns. It summarizes USSC's production capabilities, acquisition of Stelco, synergies from the Stelco acquisition, overview of its flat-rolled, European, tubular, and Canadian segments. It also discusses industry trends, the improving steel industry outlook, and being bullish on North America.
The document summarizes United States Steel Corporation's operations and outlook. It discusses the company's position as the 5th largest global steel producer and 2nd largest producer in North America. It also outlines U.S. Steel's segments including flat-rolled steel, U.S. Steel Canada, European operations, and tubular products. Finally, it expresses optimism about the outlook for North American integrated steel producers.
J. P. Morgan Basics & Industrials Conferencefinance15
The document provides an overview of United States Steel Corporation. It discusses USS's position as the 5th largest global steel producer and 2nd largest producer in North America. It also summarizes USS's raw material integration, segments (flat-rolled, tubular, European), recent acquisition of Stelco, and outlook on the steel industry and capital allocation. The presentation aims to show how USS is growing responsibly while generating returns and meeting financial obligations.
1. Copper prices rose in July, reaching over $5,750 per tonne, on concerns over tight supply and healthy Chinese demand. However, GFMS forecasts an overall copper surplus of 245,000 tonnes for 2009 as consumption declines outweigh production losses.
2. GFMS expects copper prices to fall to around $5,000 per tonne before recovering later in the year, and forecasts prices will trade between $5,000-6,500 per tonne from August to November.
3. Recent copper market news included production declines reported by several major miners as well as a rise in Japanese copper cable shipments, although shipments remain well below last year's levels.
The document discusses different perspectives on energy risks in 2011, including importing countries concerned with supply security, energy users facing price volatility and transition to new fuels, exporting countries dealing with changing demand patterns, and stakeholders focused on environmental risks. It also examines the investing company's perspective on technical, environmental, and market risks in the energy industry in 2011.
- El Paso Corporation has made significant progress in its turnaround, reducing debt from $20.5 billion to $15.9 billion and selling $4.3 billion in assets to focus on its pipeline and production businesses.
- The company's pipeline group owns major interstate pipelines and has a portfolio of growth projects to expand access to new natural gas supplies and growing markets. Its production business has stabilized production and increased reserves through acquisitions and improved drilling.
- Moving forward, El Paso aims to further reduce debt, generate free cash flow, complete the turnaround of production, and achieve additional cost reductions as it builds on its recent successes.
This document outlines the specifications and application procedures for refineries to have their gold and silver bars listed as "Good Delivery" by the London Bullion Market Association (LBMA). Some key points:
- Refineries must meet certain criteria including a minimum production level, net worth, and years in operation to be considered for the Good Delivery List.
- The application process involves submitting documents about ownership, operations, and finances. Refineries must also demonstrate assaying capability by analyzing reference samples to strict accuracy standards.
- If the application is accepted, the refinery provides bars for technical testing to specifications covering dimensions, weight, purity, and other quality metrics. Successful applicants are added to the Good Delivery
Rowan provided an investor presentation in December 2015. The presentation discussed Rowan's position as a pure play offshore driller with a high-specification fleet. It highlighted Rowan's strong financial position, experienced workforce, and contract backlog diversified among premium customers and regions. The presentation also analyzed market dynamics, noting that more capable rigs are likely to work through the challenging market cycle due to customer demand for higher-specification assets. Rowan believes its strategic focus on demanding wells positions it to benefit from executing operational efficiency, cost control, and optimal capital allocation to deliver strong shareholder returns.
Rdc investor presentation -- december 2015RowanCompanies
Rowan is well positioned in the current challenging offshore drilling market due to its high-specification fleet and strong financial position. The company has a diversified backlog of $4.1 billion that extends to 2024, with over 80% from national oil companies or investment grade customers. Rowan has no newbuild capex commitments or debt maturities through 2017. Its high-specification jack-ups and best-in-class drillships are expected to outperform through the market cycle due to customer demand for more capable rigs.
Credit Suisse Group Global Airline Conference Presentationfinance11
This document contains a presentation by Beverly Goulet, Vice President of Corporate Development and Treasurer of an unnamed company. The presentation includes slides on the company's 3Q08 results showing a net loss compared to earnings in the prior year. Additional slides provide details on oil prices, the company's hedging strategy, total debt levels, planned 2009 capacity reductions, new and modified fees, investments in the future, and alliances. The presentation contains forward-looking statements and refers readers to SEC filings and a webcast for further information.
Rdc investor presentation -- november 2015RowanCompanies
Rowan provides an investor presentation highlighting the company's positioning in the challenging offshore drilling market. The presentation notes that Rowan has evolved into a pure play high-specification offshore driller with a strong financial position. Rowan's fleet of 32 offshore drilling units, including 19 high-specification jack-ups and 4 ultra-deepwater drillships, is well positioned to work through the current market cycle due to the increasing customer demand for more capable rigs. The presentation also outlines Rowan's solid contract backlog, experienced workforce, and competitive advantages compared to peers.
Alister McConnell- Resources & Energy Symposium 2012Symposium
The document discusses putting the proper focus on Bankable Feasibility Studies (BFS) given the extraordinary growth in mining and infrastructure projects in Australia. It notes that (1) there have been massive constraints on regional rail and port infrastructure, (2) equity markets have become stretched to finance new projects, and (3) debt markets remain constrained despite some recovery since the global financial crisis. It argues that too often BFS become over-engineered beyond what is actually required by capital markets. A properly focused BFS should identify the targeted market, capital needs, likely structure, and other key factors to minimize wasted early equity and tailor work to financing requirements.
El Paso Corporation provides natural gas and related energy products across North America. It has two core businesses: interstate pipelines and exploration and production. The company has a $3 billion growth backlog for its pipeline business and expects 6-8% annual EBIT growth. Its E&P business is focused on resource plays in the US and exploration internationally. El Paso expects 8-12% annual production growth through high-grading its portfolio and $1.7 billion capital investment in 2008. It enters the year with solid hedge positions on natural gas and oil.
The investor presentation provides an overview of Evraz Group, a leading global steel and mining company. Some key points include:
- Evraz is the 14th largest steel producer globally with operations in Russia, Ukraine, Europe and North America.
- In the first quarter of 2010, Evraz saw a 23% increase in revenue and 39% increase in adjusted EBITDA compared to the same period last year.
- Evraz maintains a leadership position in construction steel and railway markets in Russia and the CIS while also having a strong international presence in plate and tubular products.
- The company focuses on maintaining its low-cost position through vertical integration and ongoing efficiency programs.
In 2 sentences or
el paso 09_04LehmanBrothersConference_FINALfinance49
El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company focuses on developing a culture where it is the best place to work, a good neighbor, and a company worth owning. El Paso has leading positions in interstate pipelines and exploration and production. The interstate pipelines are the cornerstone of the company and provide stable earnings growth. El Paso is also improving its exploration and production business through portfolio upgrades and increased drilling activity. The company is making financial progress through debt reduction and expects an excellent outlook.
This document provides an overview and 2Q results presentation by Petrobras CFO Almir Barbassa. Some key points:
- Petrobras' investment plan from 2007-2011 totals $87.1 billion, with 56% going to E&P to focus on growth in light oil and natural gas production and reserves.
- Financial targets include average return on capital employed of 16% from 2007-2011 and maintaining net debt to equity ratio below 25%.
- Major production growth projects through 2011 include the P-50, P-34 and other platforms that will contribute an additional 560,000 bpd of capacity in 2007 alone.
- From 2011-2015, 15 large projects are planned to
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and only $755 million in debt maturities through 2021. Rowan is well positioned to navigate the current challenging market due to its focus on high-specification assets, solid customer relationships, and flexible financial profile. The company aims to deliver shareholder value by focusing on strong financial returns, efficient operations, and maximizing the earnings power of its fleet.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and $0.8 billion in debt maturities through 2021. Rowan is well positioned in key offshore drilling markets with its fleet of 19 high-specification jack-ups and 4 best-in-class drillships. The company aims to deliver shareholder value by focusing on strong financial returns, highest customer satisfaction, and being the best place to work.
8º Foro Latibex - Strategic Plan and 3rd Quarter ResultsPetrobras
This document contains a presentation by Petrobras executives discussing the company's strategic plan and 3rd quarter results for 2006. The presentation outlines Petrobras' key drivers and business strategies, including expanding natural gas and downstream operations. It provides macroeconomic assumptions for 2007-2011 and details Petrobras' $87 billion investment plan over that period focused on exploration and production, downstream activities, and international expansion. Production targets, main projects, and financial targets are also summarized.
EMA 2009 - 2012 & Beyond: Operating in a Carbon Constrained Environment -...fijigeorge
Presentation reviews potential legislative and regulatory issues that could impact operations of a natural gas company. Also, provides organizational response to upcoming carbon legislation/regulation
John Hopper presented at the Deutsche Bank High Yield Conference on September 28, 2005. The presentation summarized El Paso Corporation's progress in turning around its business, reducing debt, and positioning itself for future growth. Key points included stabilizing production, focusing more investment onshore, improving the Texas Gulf Coast business, and having significant leverage to rising natural gas prices in 2006. Cost reductions were also continuing across the company. The presentation demonstrated that El Paso had made rapid progress in its turnaround.
Transport and Logistics
- With effect from 1st January 2017 the five businesses
were consolidated into Transport & Logistics and the
operational integration has started
- The new strategy focusing on cost leadership, customer
experience and growth was announced at CMD
- Synergies of around USD 150m are expected in 2017
from integration of businesses
- Tight capital discipline has been implemented
- Due diligence process of Hamburg Süd is progressing
according to plan with expectations of final agreement
signed early Q2 2017
Energy
• The businesses in Energy continue to be managed and
operated as individual companies to optimise
shareholder value
• Organisational setup in place to find sustainable
solutions for the oil- and oil related businesses in the
Energy division
• Tight capital discipline has been implemented
• Update on progress on finding the structural solutions,
which include mergers, joint ventures or listings of the
businesses either individually or combined will be
published in due course.
This document is a Form 10-Q quarterly report filed by United States Steel Corporation with the SEC for the quarter ended September 30, 2008. It includes the company's consolidated financial statements and notes. The financial statements show that for the quarter, U.S. Steel had net income of $919 million on net sales of $7.3 billion, compared to net income of $269 million on net sales of $4.4 billion in the same quarter last year. For the nine months ended September 30, 2008, the company had net income of $1.822 billion on net sales of $19.252 billion, compared to net income of $844 million on net sales of $12.338 billion for the same
This document provides notes to the consolidated financial statements of Anheuser-Busch Companies and Subsidiaries. It summarizes the company's significant accounting policies, including principles of consolidation, revenue recognition, foreign currency translation, valuation of securities, cash, inventories, fixed assets, intangible assets, delivery costs, advertising costs, financial derivatives, stock-based compensation, and income taxes. The notes also provide details on the composition of certain financial statement line items such as plant and equipment, changes in intangible assets, and the pro forma impact of expensing stock options.
- Revenue grew 31% year-over-year and 3% quarter-over-quarter to $5.5 billion, with international revenue reaching $2.8 billion.
- Despite economic challenges, traffic and revenue remained solid in Q3 due to investments in core search and ads businesses.
- Operating margin was 30% under GAAP and 37% non-GAAP, with net income of $1.29 billion GAAP and $1.56 billion non-GAAP.
The document is a proxy statement from Anheuser-Busch Companies, Inc. for their 2005 Annual Meeting of Stockholders. It notifies stockholders that the meeting will be held on April 27, 2005 to vote on four items: electing five directors, approving an amended Officer Bonus Plan, approving an amended 1998 Incentive Stock Plan, and approving the appointment of PricewaterhouseCoopers LLP as the independent auditor. It provides instructions for stockholders on how to vote and answers frequently asked questions about the meeting and voting process.
Rdc investor presentation -- december 2015RowanCompanies
Rowan is well positioned in the current challenging offshore drilling market due to its high-specification fleet and strong financial position. The company has a diversified backlog of $4.1 billion that extends to 2024, with over 80% from national oil companies or investment grade customers. Rowan has no newbuild capex commitments or debt maturities through 2017. Its high-specification jack-ups and best-in-class drillships are expected to outperform through the market cycle due to customer demand for more capable rigs.
Credit Suisse Group Global Airline Conference Presentationfinance11
This document contains a presentation by Beverly Goulet, Vice President of Corporate Development and Treasurer of an unnamed company. The presentation includes slides on the company's 3Q08 results showing a net loss compared to earnings in the prior year. Additional slides provide details on oil prices, the company's hedging strategy, total debt levels, planned 2009 capacity reductions, new and modified fees, investments in the future, and alliances. The presentation contains forward-looking statements and refers readers to SEC filings and a webcast for further information.
Rdc investor presentation -- november 2015RowanCompanies
Rowan provides an investor presentation highlighting the company's positioning in the challenging offshore drilling market. The presentation notes that Rowan has evolved into a pure play high-specification offshore driller with a strong financial position. Rowan's fleet of 32 offshore drilling units, including 19 high-specification jack-ups and 4 ultra-deepwater drillships, is well positioned to work through the current market cycle due to the increasing customer demand for more capable rigs. The presentation also outlines Rowan's solid contract backlog, experienced workforce, and competitive advantages compared to peers.
Alister McConnell- Resources & Energy Symposium 2012Symposium
The document discusses putting the proper focus on Bankable Feasibility Studies (BFS) given the extraordinary growth in mining and infrastructure projects in Australia. It notes that (1) there have been massive constraints on regional rail and port infrastructure, (2) equity markets have become stretched to finance new projects, and (3) debt markets remain constrained despite some recovery since the global financial crisis. It argues that too often BFS become over-engineered beyond what is actually required by capital markets. A properly focused BFS should identify the targeted market, capital needs, likely structure, and other key factors to minimize wasted early equity and tailor work to financing requirements.
El Paso Corporation provides natural gas and related energy products across North America. It has two core businesses: interstate pipelines and exploration and production. The company has a $3 billion growth backlog for its pipeline business and expects 6-8% annual EBIT growth. Its E&P business is focused on resource plays in the US and exploration internationally. El Paso expects 8-12% annual production growth through high-grading its portfolio and $1.7 billion capital investment in 2008. It enters the year with solid hedge positions on natural gas and oil.
The investor presentation provides an overview of Evraz Group, a leading global steel and mining company. Some key points include:
- Evraz is the 14th largest steel producer globally with operations in Russia, Ukraine, Europe and North America.
- In the first quarter of 2010, Evraz saw a 23% increase in revenue and 39% increase in adjusted EBITDA compared to the same period last year.
- Evraz maintains a leadership position in construction steel and railway markets in Russia and the CIS while also having a strong international presence in plate and tubular products.
- The company focuses on maintaining its low-cost position through vertical integration and ongoing efficiency programs.
In 2 sentences or
el paso 09_04LehmanBrothersConference_FINALfinance49
El Paso Corporation provides natural gas and related energy products in a safe, efficient, and dependable manner. The company focuses on developing a culture where it is the best place to work, a good neighbor, and a company worth owning. El Paso has leading positions in interstate pipelines and exploration and production. The interstate pipelines are the cornerstone of the company and provide stable earnings growth. El Paso is also improving its exploration and production business through portfolio upgrades and increased drilling activity. The company is making financial progress through debt reduction and expects an excellent outlook.
This document provides an overview and 2Q results presentation by Petrobras CFO Almir Barbassa. Some key points:
- Petrobras' investment plan from 2007-2011 totals $87.1 billion, with 56% going to E&P to focus on growth in light oil and natural gas production and reserves.
- Financial targets include average return on capital employed of 16% from 2007-2011 and maintaining net debt to equity ratio below 25%.
- Major production growth projects through 2011 include the P-50, P-34 and other platforms that will contribute an additional 560,000 bpd of capacity in 2007 alone.
- From 2011-2015, 15 large projects are planned to
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and only $755 million in debt maturities through 2021. Rowan is well positioned to navigate the current challenging market due to its focus on high-specification assets, solid customer relationships, and flexible financial profile. The company aims to deliver shareholder value by focusing on strong financial returns, efficient operations, and maximizing the earnings power of its fleet.
Rowan has evolved into a pure play, high-specification offshore driller with a modern fleet of 31 drilling units. The company has a strong financial position with $2.7 billion in total debt and $0.8 billion in debt maturities through 2021. Rowan is well positioned in key offshore drilling markets with its fleet of 19 high-specification jack-ups and 4 best-in-class drillships. The company aims to deliver shareholder value by focusing on strong financial returns, highest customer satisfaction, and being the best place to work.
8º Foro Latibex - Strategic Plan and 3rd Quarter ResultsPetrobras
This document contains a presentation by Petrobras executives discussing the company's strategic plan and 3rd quarter results for 2006. The presentation outlines Petrobras' key drivers and business strategies, including expanding natural gas and downstream operations. It provides macroeconomic assumptions for 2007-2011 and details Petrobras' $87 billion investment plan over that period focused on exploration and production, downstream activities, and international expansion. Production targets, main projects, and financial targets are also summarized.
EMA 2009 - 2012 & Beyond: Operating in a Carbon Constrained Environment -...fijigeorge
Presentation reviews potential legislative and regulatory issues that could impact operations of a natural gas company. Also, provides organizational response to upcoming carbon legislation/regulation
John Hopper presented at the Deutsche Bank High Yield Conference on September 28, 2005. The presentation summarized El Paso Corporation's progress in turning around its business, reducing debt, and positioning itself for future growth. Key points included stabilizing production, focusing more investment onshore, improving the Texas Gulf Coast business, and having significant leverage to rising natural gas prices in 2006. Cost reductions were also continuing across the company. The presentation demonstrated that El Paso had made rapid progress in its turnaround.
Transport and Logistics
- With effect from 1st January 2017 the five businesses
were consolidated into Transport & Logistics and the
operational integration has started
- The new strategy focusing on cost leadership, customer
experience and growth was announced at CMD
- Synergies of around USD 150m are expected in 2017
from integration of businesses
- Tight capital discipline has been implemented
- Due diligence process of Hamburg Süd is progressing
according to plan with expectations of final agreement
signed early Q2 2017
Energy
• The businesses in Energy continue to be managed and
operated as individual companies to optimise
shareholder value
• Organisational setup in place to find sustainable
solutions for the oil- and oil related businesses in the
Energy division
• Tight capital discipline has been implemented
• Update on progress on finding the structural solutions,
which include mergers, joint ventures or listings of the
businesses either individually or combined will be
published in due course.
This document is a Form 10-Q quarterly report filed by United States Steel Corporation with the SEC for the quarter ended September 30, 2008. It includes the company's consolidated financial statements and notes. The financial statements show that for the quarter, U.S. Steel had net income of $919 million on net sales of $7.3 billion, compared to net income of $269 million on net sales of $4.4 billion in the same quarter last year. For the nine months ended September 30, 2008, the company had net income of $1.822 billion on net sales of $19.252 billion, compared to net income of $844 million on net sales of $12.338 billion for the same
This document provides notes to the consolidated financial statements of Anheuser-Busch Companies and Subsidiaries. It summarizes the company's significant accounting policies, including principles of consolidation, revenue recognition, foreign currency translation, valuation of securities, cash, inventories, fixed assets, intangible assets, delivery costs, advertising costs, financial derivatives, stock-based compensation, and income taxes. The notes also provide details on the composition of certain financial statement line items such as plant and equipment, changes in intangible assets, and the pro forma impact of expensing stock options.
- Revenue grew 31% year-over-year and 3% quarter-over-quarter to $5.5 billion, with international revenue reaching $2.8 billion.
- Despite economic challenges, traffic and revenue remained solid in Q3 due to investments in core search and ads businesses.
- Operating margin was 30% under GAAP and 37% non-GAAP, with net income of $1.29 billion GAAP and $1.56 billion non-GAAP.
The document is a proxy statement from Anheuser-Busch Companies, Inc. for their 2005 Annual Meeting of Stockholders. It notifies stockholders that the meeting will be held on April 27, 2005 to vote on four items: electing five directors, approving an amended Officer Bonus Plan, approving an amended 1998 Incentive Stock Plan, and approving the appointment of PricewaterhouseCoopers LLP as the independent auditor. It provides instructions for stockholders on how to vote and answers frequently asked questions about the meeting and voting process.
- The document is the proxy statement for United States Steel Corporation's 2008 annual meeting of stockholders to be held on April 29, 2008.
- Stockholders will vote on electing four Class I directors and electing PricewaterhouseCoopers LLP as the independent registered public accounting firm for 2008.
- The Board of Directors recommends voting for all nominees for director and for the election of PricewaterhouseCoopers LLP as the independent registered public accounting firm.
- Google reported revenue growth of 57% year-over-year and 9% quarter-over-quarter for Q3 2007, driven by increases in Google properties revenue and network revenues.
- International markets continued to show strong growth, accounting for over 50% of total revenue.
- The company continued executing on its Search.Ads.Apps strategy and expanding its product offerings.
1) Anheuser-Busch increased its US beer volume in 2004 to a record 103 million barrels, maintaining a domestic market share of 49.6%.
2) The company introduced several new products in 2004, including BE and Budweiser Select, which were launched nationally in 2005 after successful test markets.
3) Anheuser-Busch also introduced two new low-carb flavored malt beverages under the Bacardi Silver brand to appeal to health-conscious consumers.
Google reported strong financial results for Q1 2008 with revenue growth of 42% year-over-year and 7% quarter-over-quarter. Revenue from Google properties grew 49% year-over-year driven by growth in search and international markets. Operating expenses increased but margins remained high at 30% due to operational discipline. Free cash flow was $938 million for the quarter.
The document provides an overview of Anheuser-Busch's financial performance for 2004. Key points include:
- Net sales increased 5.6% to $14.9 billion and earnings per share increased 11.7% to $2.77, driven by growth across all business segments.
- Domestic beer volume was flat at 103 million barrels while revenue per barrel increased. International volume grew 64.8% to 13.8 million barrels.
- Earnings per share growth of 6-9% is expected for 2005, excluding one-time items from 2004 and the adoption of stock option expensing standards.
This document is a Form 10-Q quarterly report filed by United States Steel Corporation with the SEC for Q1 2008. It includes the company's unaudited consolidated statement of operations, balance sheet, and cash flows for the period. The report indicates that revenue increased to $5.2 billion for Q1 2008 from $3.8 billion in the prior year. Net income decreased to $235 million from $273 million last year. As of March 31, 2008 the company held $454 million in cash and $5.4 billion in current assets with long term debt of $6.8 billion.
Burlington Northern Santa Fe Corporation's operating expenses increased in the second quarter of 2008 compared to the first quarter. Fuel expenses rose the most, increasing by $246 million. Total operating expenses for the first half of 2008 were $3.386 billion in the first quarter and $3.764 billion in the second quarter. In 2007, total operating expenses were highest in the fourth quarter at $3.295 billion and lowest in the first quarter at $2.951 billion.
This document provides an SEC quarterly report filed by Illinois Tool Works Inc. for the third quarter of 2004. It includes:
- Condensed income statements and balance sheets for the periods ended September 30, 2004 and 2003.
- A statement of cash flows for the nine month periods ended September 30, 2004 and 2003.
- Notes to the financial statements regarding stock-based compensation, inventories, comprehensive income, and investments.
The financial statements show the company's revenues, expenses, assets, liabilities, cash flows, and notes for the periods.
The document is Illinois Tool Works Inc.'s quarterly financial report for the period ending March 31, 2003. It includes the company's statement of income and statement of financial position for the first quarter of 2003, as well as comparative financial data for the same period in 2002. Key highlights include total operating revenues of $2.3 billion for the first quarter of 2003, net income of $195 million, and total assets of $10.8 billion as of March 31, 2003.
Lear Corporation has grown rapidly over the past decade through strategic acquisitions and operational excellence. It is now a global leader in automotive seating and electrical systems. Looking forward, Lear aims to further diversify its business across regions and customers while repositioning its business in North America for improved long-term profitability. Near-term financial results have been negatively impacted by lower vehicle production and rising material costs, but Lear has a strong sales backlog that positions it for continued growth.
First Quantum is a significant copper and growing nickel producer that is on the cusp of transformational growth through projects that will triple its copper production capacity and increase annual nickel production to 125,000 tonnes. It has a strong financial position with $375 million in cash and $1.25 billion in available financing. First Quantum has delivered the best copper growth in the industry over the past decade and leading shareholder returns through efficient project delivery at costs below industry norms. It aims to be within the top 10 largest copper and nickel producers globally by 2016.
Canadian Arrow Mines Ltd. is a nickel-copper producer with 3 key assets containing over 104 million pounds of nickel. These include the Kenbridge nickel-copper project estimated to have a net present value of $253 million, and the Alexo and Kelex nickel mines. Arrow also retains a 2% royalty interest in the Hart nickel project that is estimated to provide $9 million in revenue. However, Arrow's current market capitalization of $12 million represents a 96% discount to its estimated net asset value of $282 million. The company plans to restart production at Alexo and Kelex to generate near-term cash flow and fund development of the larger Kenbridge project.
The document summarizes a $10.8 billion joint venture between Ma'aden and Alcoa in Saudi Arabia to develop an integrated aluminum industry. The joint venture includes a bauxite mine, alumina refinery, aluminum smelter, and rolling mill. It will be the first integrated aluminum complex in the Gulf region. The project is proceeding rapidly, with first production from the smelter and rolling mill expected in 2013 and from the mine and refinery in 2014. The project establishes Saudi Arabia as a global leader in aluminum and creates economic opportunities for the country.
The document summarizes a $10.8 billion joint venture between Ma'aden and Alcoa in Saudi Arabia to build integrated aluminum infrastructure, including a mine, refinery, smelter and rolling mill. Phase 1 is already operational and producing aluminum ingots, billets and slabs. Phase 2 will further expand production capacity. The project establishes Saudi Arabia's first fully integrated aluminum industry and creates economic opportunities for Saudi citizens through thousands of jobs. It also positions the partners and the Kingdom to capture growth in global aluminum demand driven by population growth, urbanization and rising energy consumption.
This document provides an annual review and financial results for Anglo American for 2008. Key points include:
- Anglo American achieved record operating profits from core operations despite a significant reduction in commodity prices in the second half of 2008.
- Safety performance showed continued improvement over 2007.
- Actions were taken to position the company for the downturn, including a over 50% reduction in capital expenditures for 2009 and cost reduction programs.
- Underlying earnings were $5.8 billion for 2008, down 9% from 2007, with an effective tax rate of 31.8% and return on capital employed of 36.8%.
International Lithium Corp Presents at Vancouver Electric Vehicles Associatio...SlideShare
International Lithium (subsidiary of TNR Gold Corp TNR:TSXV) presents at VEVA June 2010. Includes an overview of the lithium industry, Lithium 101 (what it's about), and great background information on how Lithium is produced.
Industry Analysis-Steel Industry of Indiasandeep7162
The steel industry in India is the 5th largest producer of crude steel globally and is expected to become the 2nd largest by 2015. Major players include Tata Steel, SAIL, JSW Steel, and Jindal Steel. The industry is growing at around 8-9% annually due to increased infrastructure investment and automobile growth. Success factors for steel companies include low production costs, expanding downstream value-added products, technology improvements, and pursuing mergers and acquisitions for economies of scale. The industry faces competition from new entrants and substitutes but benefits from growing domestic demand.
This document provides an overview of Commercial Metals Company (CMC) and its quarterly performance. It discusses CMC's business model, including its vertical integration and product and geographic diversification. It also summarizes CMC's financial performance from 2003-2007, highlighting increasing sales, earnings, and shareholder returns over that period. Current market conditions and CMC's outlook are briefly addressed.
Objective Capital Rare Earths, Speciality and Minor Metals Investment Summit
The challenges of developing a lithium project
– reopening the Quebec Lithium Project
18 March 2010
by Peter Secker, Canada Lithium
CCW - Canada Cobalt Works Presentation - August 2018MomentumPR
Canada Cobalt is a pure play cobalt company focused exclusively on the Northern Ontario cobalt camp, Canada's most prolific cobalt district. With three 100-per-cent-owned past-producing mines, a proprietary hydrometallurgical process known as Re-2OX and plans for a 600-tonne-per-day mill at its flagship Castle property near Gowganda, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery.
Objective Capital's Rare Earths, Speciality & Strategic Metals
Investment Summit 2012
Ironmongers' Hall, City of London
13-14 March 2012
Speaker: Thomas Krause, Chemetall Lithium
The document summarizes trends in the Brazilian foundry industry. It notes that Brazil has a large population and economy and is the 7th largest producer of cast metals worldwide. The foundry industry employs over 67,000 people and had exports of $13.3 billion in 2011, primarily to Argentina, the US, and China. However, the industry needs $3.75 billion in investments by 2016 to expand production capacity and meet growing domestic demand, especially from infrastructure projects and the automobile industry. The foundry industry remains an important part of Brazil's industrial base.
The document summarizes the proposed transaction between MMX and SK Networks. Key points include:
- SK Networks will invest up to $2.2 billion in MMX through a capital increase in exchange for shares and rights to iron ore offtake.
- MMX will acquire Sudeste Superport, valued at $2.2 billion, through a combination of shares, cash, and royalties.
- SK Networks will receive 50% of production from MMX Chile mines and a percentage of MMX Sudeste production, securing them long-term supply.
The transaction aims to accelerate MMX's consolidation strategy and secure logistics and offtake for both companies.
CCW - Canada Cobalt Works Corporate Presentation - September 2018MomentumPR
Canada Cobalt is a pure play cobalt company focused exclusively on the Northern Ontario cobalt camp, Canada's most prolific cobalt district. With three 100-per-cent-owned past-producing mines, a proprietary hydrometallurgical process known as Re-2OX and plans for a 600-tonne-per-day mill at its flagship Castle property near Gowganda, Canada Cobalt is strategically positioned to become a vertically integrated North American leader in cobalt extraction and recovery.
This document provides a summary of Evraz Group, a large steel and mining company. Some key points:
- Evraz is one of the largest steel producers globally and a leader in markets like Russia, CIS, Europe and North America.
- In 2008, Evraz produced over 17 million tons of crude steel and generated $20.4 billion in revenue.
- The presentation discusses Evraz's global operations, cost optimization efforts, debt management, and operational results for 3Q09. Production and sales were improving as steel demand recovered in Asia and other markets.
- Evraz aims to maintain its low-cost production through efficiency gains and vertical integration across its mining and steel businesses. This allows it
ArcelorMittal reported its 4Q 2012 and FY 2012 results. Key highlights include:
- FY 2012 EBITDA of $7.1 billion and net loss of $3.7 billion due to non-cash impairment charges.
- Steel shipments declined 2.3% in FY 2012 due to weak demand in Europe and China.
- Net debt decreased by $1.4 billion in 4Q 2012 to $21.8 billion through positive free cash flow and asset sales.
- The company outlined further actions to reduce debt including dividend cuts and reduced capex.
The document discusses MMX Mineração e Metálicos S.A., a Brazilian mining company. It notes that MMX has delivered on several projects and partnerships since its IPO in 2006, including developing its Sudeste iron ore system. MMX owns the Serra Azul and Bom Sucesso mines in the Sudeste system, which have high-quality iron ore reserves. MMX's Sudeste system has secured logistics to transport iron ore via rail and barges to the Sudeste Superport for export, utilizing MRS Logística railways and the Açu Superport. The document presents MMX as a unique, experienced mining company with a proven ability to deliver
Overcapacity in eu and nafta where is it? by Marcel Genet Laplace ConseilAudrey Bayard
The document discusses the shift from integrated steel mills to minimills over the last 40 years. Minimills, which use electric arc furnaces to melt scrap steel, have lower costs and more flexibility than traditional blast furnace mills. The share of steel produced by minimills has been growing steadily in Europe and North America. Recently, access to cheap shale gas in the US has improved the competitiveness of direct reduced iron plants, which may further increase minimills' market share. Most overcapacity in the steel industry is currently found in integrated blast furnace mills, especially in Europe and North America.
Corporate presentation march 2011 corporate presentation - march 2011mmxriweb
MMX provides high-quality iron ore from its assets in Brazil and Chile. In Brazil, MMX operates the Serra Azul mine and plans to expand production capacity to 24 million metric tons per year by 2013 through investments of $2.96 billion. MMX also owns the Bom Sucesso project, which has magnetite ore with 30% iron content. MMX is developing the Sudeste Superport, which will start operations in 2012 and has capacity for 50 million metric tons annually. In Chile, MMX has acquired six iron ore properties near the coast with high-grade magnetite ore similar in quality to Serra Azul.
The steel market is improving with prices rising from a low of $380 per ton in June 2009 to $540 per ton currently. Domestic steel mills and electric arc furnaces are increasing production to meet a rebound in demand, bringing capacity utilization rates higher. Imports are projected to decline significantly in 2009 due to the risks of volatile pricing and long lead times when purchasing foreign steel. The recovery remains dependent on continued improvements in service center inventories, domestic supply, and mill utilization rates.
Similar to Credit Suisse Global Steel and Mining Conference (20)
This document is a Form 10-Q quarterly report filed by Google Inc. with the SEC for the quarter ended September 30, 2004. The summary provides:
- Google reported revenues of $805.9 million for the quarter, up from $393.9 million in the same quarter the previous year. Net income was $52 million compared to $20.4 million.
- Costs and expenses for the quarter were $794.8 million, primarily driven by a $201 million settlement payment to Yahoo.
- As of September 30, 2004, Google held $344.5 million in cash and cash equivalents and $1.5 billion in short-term investments.
This document is Google's Form 10-Q quarterly report filed with the SEC for the quarter ending March 31, 2005. It includes condensed consolidated financial statements and notes. The financial statements show that for the quarter, Google's revenues increased 93% year-over-year to $1.26 billion, with net income increasing 478% to $369 million. Cash and marketable securities totaled $2.5 billion as of March 31, 2005. Management's discussion and analysis provides details on financial results and business outlook.
This document is Google's Form 10-Q filing with the SEC for the quarterly period ended June 30, 2005. It includes Google's condensed consolidated balance sheets as of December 31, 2004 and June 30, 2005 (unaudited), as well as condensed consolidated statements of income and cash flows for the three and six month periods ended June 30, 2004 and 2005 (unaudited). Notes to the unaudited condensed consolidated financial statements are also provided. The filing provides key financial information about Google's financial position and performance during the reported periods.
This document is Google's Form 10-Q filing with the SEC for the quarterly period ended September 30, 2005. It includes Google's condensed consolidated balance sheets as of December 31, 2004 and September 30, 2005, which shows an increase in total assets from $2.7 billion to $8.4 billion over that period. It also includes condensed consolidated statements of income for quarters ended September 30, 2004 and 2005 and condensed consolidated statements of cash flows for the nine month periods ended September 30, 2004 and 2005. The filing also includes notes to the unaudited condensed consolidated financial statements and sections for management's discussion of financial results, market risk disclosures, and controls and procedures.
This document is Google Inc.'s Form 10-Q filing for the quarterly period ended June 30, 2006. It provides financial statements and disclosures including the condensed consolidated balance sheet, statements of income, and statements of cash flows. Revenues increased significantly year-over-year to $2.46 billion for the quarter due to growth in advertising revenues. Net income for the quarter was $721.1 million, also up significantly from the prior year.
- The document is Google Inc.'s Form 10-Q filing with the SEC for the quarter ended September 30, 2006.
- It provides Google's condensed consolidated financial statements, including balance sheets, income statements, and cash flow statements for the periods presented.
- The financial statements show Google's revenues increased to $2.7 billion for the quarter from $1.6 billion in the prior year, while net income increased to $733 million from $381 million.
- The document discusses Google's Q3 2006 earnings conference call, reporting 70% year-over-year revenue growth and 10% quarter-over-quarter growth driven by increased monetization and traffic.
- Operating income and net income reached record levels, and the company continued investing in products and infrastructure while forming new partnerships.
- Google agreed to acquire YouTube for $1.65 billion in stock, hoping to enable anyone to upload, watch and share videos worldwide.
Google reported strong financial results for Q4 2006 with 67% year-over-year revenue growth and 19% quarter-over-quarter growth. Revenues increased due to a healthy holiday season with strong traffic growth as well as international revenue growth, particularly in Germany and France. Costs and expenses grew but Google continued investing aggressively in employees and infrastructure for long term success. Non-GAAP net income was $997.3 million, up 23% from the previous quarter.
Google reported strong revenue growth in Q1 2007, with revenue up 63% year-over-year and 14% quarter-over-quarter. International markets contributed significantly to revenue growth. Non-GAAP net income was $1.16 billion, with continued investments in infrastructure and employees. Google also announced an agreement to acquire DoubleClick during the quarter.
Google reported strong revenue growth of 58% year-over-year and 6% quarter-over-quarter for Q2 2007. Investments in hiring and infrastructure remained priorities. Google continued to lead in search and ads while launching new products. International revenue increased significantly in key markets like Spain, Italy and France.
- The document is Google Inc.'s Form 10-Q filing with the SEC for the quarterly period ended September 30, 2007.
- It provides Google's consolidated financial statements including balance sheets, income statements, and cash flow statements for interim periods.
- The financial statements show Google's revenues increased over the comparable prior year periods as did costs and expenses, resulting in increased income from operations and net income.
- Google reported strong revenue growth of 51% year-over-year and 14% quarter-over-quarter for Q4 2007, driven by growth in Google properties revenue and network revenues.
- Executing on its Search.Ads.Apps strategy led to improved search quality worldwide and better advertiser control and return on investment. Significant progress was also made in mobile with the launch of Android.
- International revenues grew to $2.3 billion in Q4 2007 and accounted for over half of total revenues, demonstrating Google's strong global performance.
Google reported strong revenue growth of 39% year-over-year for Q2 2008. International revenue grew significantly while search quality improvements and ad quality initiatives continued. Costs remained a focus while investing in opportunities. Free cash flow increased substantially from the prior quarter.
Google reported strong Q4 2008 results despite economic challenges:
- Revenue grew 18% year-over-year and 3% quarter-over-quarter to $5.7 billion.
- International revenue reached $2.9 billion, accounting for 50% of total revenue.
- Traffic and revenue remained solid in Q4, and investments continued in search, ads, and newer areas like display, mobile, and enterprise.
- Cost containment efforts aimed to better position Google for long-term growth.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
Discover the Future of Dogecoin with Our Comprehensive Guidance36 Crypto
Learn in-depth about Dogecoin's trajectory and stay informed with 36crypto's essential and up-to-date information about the crypto space.
Our presentation delves into Dogecoin's potential future, exploring whether it's destined to skyrocket to the moon or face a downward spiral. In addition, it highlights invaluable insights. Don't miss out on this opportunity to enhance your crypto understanding!
https://36crypto.com/the-future-of-dogecoin-how-high-can-this-cryptocurrency-reach/
South Dakota State University degree offer diploma Transcriptynfqplhm
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A toxic combination of 15 years of low growth, and four decades of high inequality, has left Britain poorer and falling behind its peers. Productivity growth is weak and public investment is low, while wages today are no higher than they were before the financial crisis. Britain needs a new economic strategy to lift itself out of stagnation.
Scotland is in many ways a microcosm of this challenge. It has become a hub for creative industries, is home to several world-class universities and a thriving community of businesses – strengths that need to be harness and leveraged. But it also has high levels of deprivation, with homelessness reaching a record high and nearly half a million people living in very deep poverty last year. Scotland won’t be truly thriving unless it finds ways to ensure that all its inhabitants benefit from growth and investment. This is the central challenge facing policy makers both in Holyrood and Westminster.
What should a new national economic strategy for Scotland include? What would the pursuit of stronger economic growth mean for local, national and UK-wide policy makers? How will economic change affect the jobs we do, the places we live and the businesses we work for? And what are the prospects for cities like Glasgow, and nations like Scotland, in rising to these challenges?
The Universal Account Number (UAN) by EPFO centralizes multiple PF accounts, simplifying management for Indian employees. It streamlines PF transfers, withdrawals, and KYC updates, providing transparency and reducing employer dependency. Despite challenges like digital literacy and internet access, UAN is vital for financial empowerment and efficient provident fund management in today's digital age.
Abhay Bhutada, the Managing Director of Poonawalla Fincorp Limited, is an accomplished leader with over 15 years of experience in commercial and retail lending. A Qualified Chartered Accountant, he has been pivotal in leveraging technology to enhance financial services. Starting his career at Bank of India, he later founded TAB Capital Limited and co-founded Poonawalla Finance Private Limited, emphasizing digital lending. Under his leadership, Poonawalla Fincorp achieved a 'AAA' credit rating, integrating acquisitions and emphasizing corporate governance. Actively involved in industry forums and CSR initiatives, Abhay has been recognized with awards like "Young Entrepreneur of India 2017" and "40 under 40 Most Influential Leader for 2020-21." Personally, he values mindfulness, enjoys gardening, yoga, and sees every day as an opportunity for growth and improvement.
Falcon stands out as a top-tier P2P Invoice Discounting platform in India, bridging esteemed blue-chip companies and eager investors. Our goal is to transform the investment landscape in India by establishing a comprehensive destination for borrowers and investors with diverse profiles and needs, all while minimizing risk. What sets Falcon apart is the elimination of intermediaries such as commercial banks and depository institutions, allowing investors to enjoy higher yields.
2. Forward-Looking Statements
This presentation contains forward-looking statements with respect to market conditions,
operating costs, shipments, prices and profit-based compensation payments. Some factors,
among others, that could affect 2008 market conditions, costs, shipments and prices for both
domestic operations and USSE include global product demand, prices and mix; global and
company steel production levels; raw materials' availability and prices; plant operating
performance; the timing and completion of facility projects; natural gas prices and usage and
availability; changes in environmental, tax and other laws; the resumption of operation of steel
facilities sold under the bankruptcy laws; employee strikes; power outages; and U.S. and global
economic performance and political developments. Domestic steel shipments and prices could be
affected by import levels and actions taken by the U.S. Government and its agencies. Political
factors in Europe that may affect USSE’s results include, but are not limited to, taxation,
nationalization, inflation, currency fluctuations, increased regulation, export quotas, tariffs, and
other protectionist measures. The level of income from operations is the primary factor affecting
payments under the USWA profit-based plans. In accordance with “safe harbor” provisions of the
Private Securities Litigation Reform Act of 1995, cautionary statements identifying important
factors, but not necessarily all factors, that could cause actual results to differ materially from those
set forth in the forward-looking statements have been included in the Form 10-K of U. S. Steel for
the year ended December 31, 2007, and in subsequent filings for U. S. Steel.
2
3. United States Steel Corporation
To grow responsibly while generating a competitive return on capital and meeting
our financial and stakeholder obligations
• 5th largest global steel producer – 31.7 mnt*
• 2nd Largest North American flat-rolled steel producer – 24 mnt*
• 2nd largest Central European flat-rolled steel producer – 7.4 mnt
• Largest North American tubular producer – 2.8 mnt
• North American raw materials balance
• ROCE:**
2007 - 21%
2006 - 29%
* Pro-Forma for Stelco acquisition
3
**ROCE = IFO/average(PPE + AR + Inventory – AP)
4. Flat-rolled segment
Leading producer of high quality product
• LTM 2Q’08 trade shipments – 18.3 million tons*
7 melt locations
• Approximately 50% contract, 40% spot & 10% indexed (CRU)
• Contract industries include: auto, appliance, tin and electrical
• Demands sophisticated metallurgical applications with
specialized customer service and technical support
• Typical contract term - 1 year
• Contract business lessens impact of spot price fluctuations
4
* Pro-Forma for Stelco
5. U. S. Steel Canada
Acquisition closed 10/31/07
Created 5th largest global steel company
Complementary assets & attributes:
Capability to ship approximately 900,000 tons of slabs
to U. S. Steel facilities
Improve U. S. Steel’s finishing facility utilization
Annual synergies estimated to be in excess of $100 million:
Sourcing semi-finished product
Procurement, best practices and SG&A
5
6. U. S. Steel Canada Overview
Raw Steel British
Capability Columbia
Alberta
4.9 Million Net
Labrador
Manitoba
Tons:
Seignelay
Hamilton 2.3 Ontario
Saskatchewan Quebec
Lake Erie 2.6
Wabush
Hibbing
Raw Materials Minntac/
Tilden
Keetac
Ownership
Hamilton
Iron Ore
Lake Erie
Great Lakes
Minority shares of:
Gary
Hibbing Taconite Mon Valley
Tilden Mining
Granite City
Wabush Mining USSC Integrated Steel Mill
Seignelay Reserve USSC Iron Ore Mining
U. S. Steel Flat Rolled & Tubular
U. S. Steel Iron Ore Mining Fairfield
East Texas
66
7. European segment
Plants in both Slovakia (5.0 mmt) and Serbia (2.4 mmt)
• LTM 2Q’08 shipments – 6.2 million tons
• Approximately 70% spot versus 30% contracts
• Key industries: construction, service center, packaging and
conversion
• Dedicated new 386,000 tons automotive/appliance galvanize
line in September, 2007
• Strong growth rates and heavy infrastructure investment
7
8. Tubular segment
Oil country and Standard & Line pipe
• LTM 2Q’08 – 1.8 million tons:
Seamless 930,000 tons
Welded 905,000 tons
• Primarily spot sales
• Oil Country 63%, Standard & Line 32%, Specialty Tube 5%
• Size ranges (outside diameter):
Seamless –1.9” to 26”
Welded – 1” to 20”
• Shipments:
NAFTA 95%
International 5%
8
9. Total U.S. Tubular Market
Source: Preston Pipe
Tons in Millions
20
OCTG
USS Tubular Seamless
Seamless
Line
15
Imports
Imports
Standard
10
Welded
Welded
Mechanical
Domestic
Domestic
5
Structural
Pressure
Stainless
0
9
10. Improving Industry – Why invest in Steel?
• Steel is a good product, provides excellent value
• Major regions with increasing consumption rates
• Governments mostly out of industry (ex China)
• Metallics are tight, flatter cost curve
• Low Valuation:
2008 P/E*
40.0x
35.8x
32.0x
24.0x
18.4x 17.3x
14.7x
16.0x
8.5x
8.0x
0.0x
s
as
l
r
ol
te
Ca
ae
od
e
Se
Pp
t ti
* Source: Bloomberg
Uili
ar
10
R il
11. Bullish on North America
Outlook for North American integrated producers
• Melt capacity relatively constrained
• High metallic costs (iron ore & scrap)
• High carbon costs (coal & coke)
• High import transportation costs
11
12. Growing International Demand
Emerging markets continues to support strong global production
World crude steel production* (million metric tonnes) Share of global steel demand
1600
1200
800
400
0
2 0 0 8 **
2 0 0 9 **
1993
1994
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
World China Developing Developed
** IISI Estimate
Source: IISI Source: Macquarie 12
13. Strong business climate
Selected Price Trends – Through August 2008
$650
$1,175
Shredded scrap composite $/Gross ton Hot rolled $/Net Ton
$600
$1,075
$550
$975
$500
$875
$450
$400 $775
$350
$675
$300
$575
$250
$475
$200
$375
$150
$275
$100
$50 $175
O ct
M ar
J an
F eb
J une
Sept
M ay
J u ly
N ov
D ec
A p r il
Aug
J a n -0 2
J u l- 0 2
J a n -0 3
J u l- 0 3
J a n -0 4
J u l- 0 4
J a n -0 5
J u l- 0 5
J a n -0 6
J u l- 0 6
J a n -0 7
J u l- 0 7
J a n -0 8
J u l- 0 8
2002 2003 2004 2005
USA HR German HR East Asian HR
2006 2007 2008 Source: CRU and SBB. 13
Source: D.J. Joseph Company
14. U. S. Steel – North America Raw Materials Integration
Control over key raw materials – as of 9/1/08
Estimated annual NA requirements:
Percent controlled – Production – Contract (volume & price) • Coking Coal – 10mnt
• Coke – 8.8mnt
100 • Iron Ore – 28.9mnt
• Second largest NA iron ore producer
80
produced 21 mmnt in 2007
reserves 849 mmnt
60
• Iron ore/coal mines and coke
production located close to steel
40
operations or supported by cost
competitive transportation facilities
20
• Produced 5.6 mmnt of coke in 2007
0
• International coke and coal prices are
08 09
8 9 08 09
l '0 l '0 e' e'
e' e'
oa oa Or Or high and volatile
k k
Co Co
C C n n
Iro Iro
• Exploring additional raw material
integration opportunities
Contract Own make
14
15. MSCI Flat Rolled Inventory
January 2004 – June 2008
11,000
CRU price 1,400
$575
$655
10,000
Sheet Inventory ‘000 tons
$510
Sheet Imports ‘000 tons
1,150
$740 $630 $565
9,000
$425
$402 900
$1,065
8,000
$580 $520
$550
650
7,000
6,000 400
Jan-04
Jul-04
Jan-05
Jul-05
Jan-06
Jul-06
Jan-07
Jul-07
Jan-08
Apr-04
ct-04
Apr-05
ct-05
Apr-06
ct-06
Apr-07
ct-07
April-08
O
O
O
O
Sheet Inventory Sheet Imports
Source: MSCI, U.S. Dept of Customs and CRU 15
16. Raw Material Cost - Impact on hot rolled band costs
Raw material cost inflation has leveled the playing field – HRB cash cost $/ton
$700 $608
$592
$600 7% $510
9%
15% 13%
$500 17%
11%
$400
$270
$300 $190 $204
41%
19%
$200 24%
15%
24% 8%
$100
66% 78% 52% 78% 51% 72%
$0
'02
'08
'08
'02
'08
'02
1Q
2Q
2Q
2Q
1Q
1Q
China & other low-labor cost steel US flat-rolled mini-mill steel NA integrated steel producers
Producing countries producers
Raw Materials Energy Labor
Source: J.P. Morgan and company estimate 16
17. Capital Allocation – Building Value
To grow responsibly while generating a competitive return on capital and
meeting our financial and stakeholder obligations
• Maintain strong capital structure
• Focused capital spending plan
• Responsible capital allocation
• Remain shareholder focused
Designed to improve shareholder value
17
18. Maintain strong capital structure – Building Value
Balanced approach to capital allocation
Since LTM
1/1/04 2Q’08
As of ($ in millions)
Cash Provided by Operations $6,512 $1,418
Capital Spending $2,964 $782
Voluntary Pension & OPEB Funding $905 $140
Dividends Paid $331 $107
Increased 500% since 1/05*
$901 $143
Stock Repurchases**
14.9 1.2
Millions of shares repurchased
As of 6/30/08, 5.8 million shares remaining under current repurchase authorization
* Dividend increase to $0.30/quarter to be effective with 9/10/08 payment
** Repurchase program initially authorized 7/05 18
19. Maintain strong capital structure – Building Value
Key considerations Manageable legacy obligations – 2008
Pension:
Pension OPEB Total
As of 12/31/07 ($ in millions)
• Defined benefit
plan closed in 2003
$10,638 $4,089 $14,727
Benefit obligation
OPEB: $10,861 $1,166 $12,027
Plan assets
• Co-pays
($2,923) ($2,700)
$223
Funded status
• Inflation cap
Pension OPEB Total
2008 Forecast ($ in millions)
• Voluntary pension
& VEBA $60 $140 $200
Net Periodic Expense
contributions
$142 $426 $568
Cash Flow*
totaling $905 million
since 1/1/04
Pension OPEB
Key assumptions - 2008
7.94% 8.0%
Expected return on assets
5.67% 5.69%
Discount rate
* Excludes any voluntary contributions
19
20. Capital Spending – Building Value
U.S. Steel has spent less
2005 – 2007 Average CapEx per ton shipped
than global peers in
recent years
$130
$119
Will likely incur higher $120
capex during next few
$110
years concentrated on
$100
Capex per ton
infrastructure, but will
likely remain below the $90
global average.
$80
$70 $59
$60
$50
$40 $32
$30
$18
$20
$10
$0
Ternium
Nippon
Valin
Tenarus
MMK
Nucor
NLMK
Arcelor
Thysse
Wuhan
Gerdau
Average
Evraz
CSN
AKS
USS
SSAB
Tata-
Laiwu
Essar
JFE
Severst
Posco
Bao
Source: Accenture 20
21. Making Steel - World Competitive - Building Value
Investment considerations
• Strong business climate
• Improving industry and relatively low valuation
• Favorable North American environment
• Building value:
Maintain strong capital structure
Evaluate growth opportunities
Improving infrastructure and product mix
Responsible capital allocation
Remain shareholder focused
21