- NLMK reported its Q1 2016 IFRS results on 17 May 2016. Key highlights included revenue of $1,577 million, EBITDA of $290 million, and net profit of $57 million.
- Steel sales increased 10% compared to the previous quarter to 4.1 million tons due to improved product mix and higher sales of standard products. Steel output grew 3% to 4 million tons with 100% utilization rates across core assets.
- Net debt decreased 11% compared to the previous quarter to $967 million due to strong free cash flow generation of $275 million in Q1 2016. The company maintained a strong liquidity position of $1.7 billion in cash and available credit lines
Swedbanks Baltic Sea Region Report 2011: Despite gearing down, the Baltic Sea region moves forward โ rewarding business opportunities are there to be found!
Swedbank was founded in 1820, as Swedenโs first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Swedbanks Baltic Sea Region Report 2011: Despite gearing down, the Baltic Sea region moves forward โ rewarding business opportunities are there to be found!
Swedbank was founded in 1820, as Swedenโs first savings bank was established. Today, our heritage is visible in that we truly are a bank for each and every one and in that we still strive to contribute to a sustainable development of society and our environment. We are strongly committed to society as a whole and keen to help bring about a sustainable form of societal development. Our Swedish operations hold an ISO 14001 environmental certification, and environmental work is an integral part of our business activities.
Earnings Presentation 2016
Banco Santander generated attributable profit of โฌ6,204 million during the year, an increase of 4% compared to 2015, with strong growth in fee income and improvements in credit quality, partially offset by the weakening of certain currencies against the Euro and an increase in tax in both Poland and U.K. Excluding one off items and currency movements, underlying profit before tax increased by 12%.
Rocket Internet Capital Markets Day (Presentation)Himmel Cash
ย
Agenda
Topic Presenter
Proven Winners H1 2015 Financials Peter Kimpel
CFO Rocket Internet
Update Rocket Strategy
Break
Home24 Domenico Cipolla
CEO Home24
Path to Profitability โ How to judge a successful model and invest in
growth
Oliver Samwer
CEO Rocket Internet
Oliver Samwer
CEO Rocket Internet
Break
Update LPV and Underlying Assumptions Peter Kimpel
CFO Rocket Internet
Lazada Oliver Samwer
CEO Rocket Internet
Summary Remarks Oliver Samwer
CEO Rocket Internet
Global Fashion Group Romain Voog
CEO GFG
HelloFresh Dominik Richter
CEO HelloFresh
2
Time
9:00 โ 9.45
10:00 โ 10:45
11:15 โ 11:30
13:30 โ 14:15
10:45 โ 11:15
14:45 โ 15:00
9:45 โ 10:00
14:15 โ 14:45
16:15 โ 16:30
12:30 โ 13:30
11:30 โ 12:30
Update Rocket Platform Christian von Hardenberg
CTO Rocket Internet 15:30 โ 16:15
Update Regional Internet Groups Oliver Samwer
CEO Rocket Internet
Enterprise Excellence is Inclusive Excellence.pdfKaiNexus
ย
Enterprise excellence and inclusive excellence are closely linked, and real-world challenges have shown that both are essential to the success of any organization. To achieve enterprise excellence, organizations must focus on improving their operations and processes while creating an inclusive environment that engages everyone. In this interactive session, the facilitator will highlight commonly established business practices and how they limit our ability to engage everyone every day. More importantly, though, participants will likely gain increased awareness of what we can do differently to maximize enterprise excellence through deliberate inclusion.
What is Enterprise Excellence?
Enterprise Excellence is a holistic approach that's aimed at achieving world-class performance across all aspects of the organization.
What might I learn?
A way to engage all in creating Inclusive Excellence. Lessons from the US military and their parallels to the story of Harry Potter. How belt systems and CI teams can destroy inclusive practices. How leadership language invites people to the party. There are three things leaders can do to engage everyone every day: maximizing psychological safety to create environments where folks learn, contribute, and challenge the status quo.
Who might benefit? Anyone and everyone leading folks from the shop floor to top floor.
Dr. William Harvey is a seasoned Operations Leader with extensive experience in chemical processing, manufacturing, and operations management. At Michelman, he currently oversees multiple sites, leading teams in strategic planning and coaching/practicing continuous improvement. William is set to start his eighth year of teaching at the University of Cincinnati where he teaches marketing, finance, and management. William holds various certifications in change management, quality, leadership, operational excellence, team building, and DiSC, among others.
[Note: This is a partial preview. To download this presentation, visit:
https://www.oeconsulting.com.sg/training-presentations]
Sustainability has become an increasingly critical topic as the world recognizes the need to protect our planet and its resources for future generations. Sustainability means meeting our current needs without compromising the ability of future generations to meet theirs. It involves long-term planning and consideration of the consequences of our actions. The goal is to create strategies that ensure the long-term viability of People, Planet, and Profit.
Leading companies such as Nike, Toyota, and Siemens are prioritizing sustainable innovation in their business models, setting an example for others to follow. In this Sustainability training presentation, you will learn key concepts, principles, and practices of sustainability applicable across industries. This training aims to create awareness and educate employees, senior executives, consultants, and other key stakeholders, including investors, policymakers, and supply chain partners, on the importance and implementation of sustainability.
LEARNING OBJECTIVES
1. Develop a comprehensive understanding of the fundamental principles and concepts that form the foundation of sustainability within corporate environments.
2. Explore the sustainability implementation model, focusing on effective measures and reporting strategies to track and communicate sustainability efforts.
3. Identify and define best practices and critical success factors essential for achieving sustainability goals within organizations.
CONTENTS
1. Introduction and Key Concepts of Sustainability
2. Principles and Practices of Sustainability
3. Measures and Reporting in Sustainability
4. Sustainability Implementation & Best Practices
To download the complete presentation, visit: https://www.oeconsulting.com.sg/training-presentations
Kseniya Leshchenko: Shared development support service model as the way to ma...Lviv Startup Club
ย
Kseniya Leshchenko: Shared development support service model as the way to make small projects with small budgets profitable for the company (UA)
Kyiv PMDay 2024 Summer
Website โ www.pmday.org
Youtube โ https://www.youtube.com/startuplviv
FB โ https://www.facebook.com/pmdayconference
RMD24 | Retail media: hoe zet je dit in als je geen AH of Unilever bent? Heid...BBPMedia1
ย
Grote partijen zijn al een tijdje onderweg met retail media. Ondertussen worden in dit domein ook de kansen zichtbaar voor andere spelers in de markt. Maar met die kansen ontstaan ook vragen: Zelf retail media worden of erop adverteren? In welke fase van de funnel past het en hoe integreer je het in een mediaplan? Wat is nu precies het verschil met marketplaces en Programmatic ads? In dit half uur beslechten we de dilemma's en krijg je antwoorden op wanneer het voor jou tijd is om de volgende stap te zetten.
Personal Brand Statement:
As an Army veteran dedicated to lifelong learning, I bring a disciplined, strategic mindset to my pursuits. I am constantly expanding my knowledge to innovate and lead effectively. My journey is driven by a commitment to excellence, and to make a meaningful impact in the world.
Business Valuation Principles for EntrepreneursBen Wann
ย
This insightful presentation is designed to equip entrepreneurs with the essential knowledge and tools needed to accurately value their businesses. Understanding business valuation is crucial for making informed decisions, whether you're seeking investment, planning to sell, or simply want to gauge your company's worth.
RMD24 | Debunking the non-endemic revenue myth Marvin Vacquier Droop | First ...BBPMedia1
ย
Marvin neemt je in deze presentatie mee in de voordelen van non-endemic advertising op retail media netwerken. Hij brengt ook de uitdagingen in beeld die de markt op dit moment heeft op het gebied van retail media voor niet-leveranciers.
Retail media wordt gezien als het nieuwe advertising-medium en ook mediabureaus richten massaal retail media-afdelingen op. Merken die niet in de betreffende winkel liggen staan ook nog niet in de rij om op de retail media netwerken te adverteren. Marvin belicht de uitdagingen die er zijn om echt aansluiting te vinden op die markt van non-endemic advertising.
"๐ฉ๐ฌ๐ฎ๐ผ๐ต ๐พ๐ฐ๐ป๐ฏ ๐ป๐ฑ ๐ฐ๐บ ๐ฏ๐จ๐ณ๐ญ ๐ซ๐ถ๐ต๐ฌ"
๐๐ ๐๐จ๐ฆ๐ฌ (๐๐ ๐๐จ๐ฆ๐ฆ๐ฎ๐ง๐ข๐๐๐ญ๐ข๐จ๐ง๐ฌ) is a professional event agency that includes experts in the event-organizing market in Vietnam, Korea, and ASEAN countries. We provide unlimited types of events from Music concerts, Fan meetings, and Culture festivals to Corporate events, Internal company events, Golf tournaments, MICE events, and Exhibitions.
๐๐ ๐๐จ๐ฆ๐ฌ provides unlimited package services including such as Event organizing, Event planning, Event production, Manpower, PR marketing, Design 2D/3D, VIP protocols, Interpreter agency, etc.
Sports events - Golf competitions/billiards competitions/company sports events: dynamic and challenging
โญ ๐ ๐๐๐ญ๐ฎ๐ซ๐๐ ๐ฉ๐ซ๐จ๐ฃ๐๐๐ญ๐ฌ:
โข 2024 BAEKHYUN [Lonsdaleite] IN HO CHI MINH
โข SUPER JUNIOR-L.S.S. THE SHOW : Th3ee Guys in HO CHI MINH
โขFreenBecky 1st Fan Meeting in Vietnam
โขCHILDREN ART EXHIBITION 2024: BEYOND BARRIERS
โข WOW K-Music Festival 2023
โข Winner [CROSS] Tour in HCM
โข Super Show 9 in HCM with Super Junior
โข HCMC - Gyeongsangbuk-do Culture and Tourism Festival
โข Korean Vietnam Partnership - Fair with LG
โข Korean President visits Samsung Electronics R&D Center
โข Vietnam Food Expo with Lotte Wellfood
"๐๐ฏ๐๐ซ๐ฒ ๐๐ฏ๐๐ง๐ญ ๐ข๐ฌ ๐ ๐ฌ๐ญ๐จ๐ซ๐ฒ, ๐ ๐ฌ๐ฉ๐๐๐ข๐๐ฅ ๐ฃ๐จ๐ฎ๐ซ๐ง๐๐ฒ. ๐๐ ๐๐ฅ๐ฐ๐๐ฒ๐ฌ ๐๐๐ฅ๐ข๐๐ฏ๐ ๐ญ๐ก๐๐ญ ๐ฌ๐ก๐จ๐ซ๐ญ๐ฅ๐ฒ ๐ฒ๐จ๐ฎ ๐ฐ๐ข๐ฅ๐ฅ ๐๐ ๐ ๐ฉ๐๐ซ๐ญ ๐จ๐ ๐จ๐ฎ๐ซ ๐ฌ๐ญ๐จ๐ซ๐ข๐๐ฌ."
VAT Registration Outlined In UAE: Benefits and Requirementsuae taxgpt
ย
Vat Registration is a legal obligation for businesses meeting the threshold requirement, helping companies avoid fines and ramifications. Contact now!
https://viralsocialtrends.com/vat-registration-outlined-in-uae/
Unveiling the Secrets How Does Generative AI Work.pdfSam H
ย
At its core, generative artificial intelligence relies on the concept of generative models, which serve as engines that churn out entirely new data resembling their training data. It is like a sculptor who has studied so many forms found in nature and then uses this knowledge to create sculptures from his imagination that have never been seen before anywhere else. If taken to cyberspace, gans work almost the same way.
2. DISCLAIMER
2
This document is confidential and has been prepared by NLMK (the โCompanyโ) solely for use at the presentation of the Company and may not be
reproduced, retransmitted or further distributed to any other person or published, in whole or in part, for any other purpose.
This document does not constitute or form part of any advertisement of securities, any offer or invitation to sell or issue or any solicitation of any offer to
purchase or subscribe for, any shares in the Company or Global Depositary Shares (GDSs), nor shall it or any part of it nor the fact of its presentation or
distribution form the basis of, or be relied on in connection with, any contract or investment decision.
No reliance may be placed for any purpose whatsoever on the information contained in this document or on assumptions made as to its completeness. No
representation or warranty, express or implied, is given by the Company, its subsidiaries or any of their respective advisers, officers, employees or agents, as to
the accuracy of the information or opinions or for any loss howsoever arising, directly or indirectly, from any use of this presentation or its contents.
The distribution of this document in other jurisdictions may be restricted by law and any person into whose possession this document comes should inform
themselves about, and observe, any such restrictions.
This document may include forward-looking statements. These forward-looking statements include matters that are not historical facts or statements
regarding the Companyโs intentions, beliefs or current expectations concerning, among other things, the Companyโs results of operations, financial condition,
liquidity, prospects, growth, strategies, and the industry in which the Company operates. By their nature, forwarding-looking statements involve risks and
uncertainties because they relate to events and depend on circumstances that may or may not occur in the future. The Company cautions you that forward-
looking statements are not guarantees of future performance and that the Companyโs actual results of operations, financial condition and liquidity and the
development of the industry in which the Company operates may differ materially from those made in or suggested by the forward-looking statements
contained in this document. In addition, even if the Companyโs results of operations, financial condition and liquidity and the development of the industry in
which the Company operates are consistent with the forward-looking statements contained in this document, those results or developments may not be
indicative of results or developments in future periods. The Company does not undertake any obligation to review or confirm analystsโ or any other third party
expectations or estimates or to update any forward-looking statements to reflect events that occur or circumstances that arise after the date of this
presentation.
By attending this presentation you agree to be bound by the foregoing terms.
4. 0
5
10
15
20
25
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Exports Inventories
Improved supply discipline and restocking led to prices rise
Q1โ16 GLOBAL STEEL MARKET TRENDS
4
STEEL OUTPUT
M tonnes
Source: Worldsteel
โข Global steel output stable qoq at 385.4 mt (-3.6% yoy)
o China output dropped by 2.7 % yoy
o World ex-China (incl. DMs) showed qoq growth
โข Chinese steel exports down by 5% qoq to 27.8 mt
โข Lower inventories prompted restocking cycle
โข Growth in raw materials prices
โข Steel prices grew +45% YTD across all regions
supported by stronger demand and restocking
CHINESE STEEL EXPORTS & INVENTORIES
Source: Metal Bulletin
M tonnes
205 210 205 204 202 204 197 191 194
203 210 207 200 197 208 199 194 192
408 421 411 405 399 412 396 385 385
-8%
-4%
0%
4%
8%
0
50
100
150
200
250
300
350
400
450
500
Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16
World ex. China China World ex. China (y/y) China (y/y)
HRC PRICES (EXW) BY REGIONS
Source: Metal Bulletin
$/t
0
200
400
600
800
Jan-14
Feb-14
Mar-14
Apr-14
May-14
Jun-14
Jul-14
Aug-14
Sep-14
Oct-14
Nov-14
Dec-14
Jan-15
Feb-15
Mar-15
Apr-15
May-15
Jun-15
Jul-15
Aug-15
Sep-15
Oct-15
Nov-15
Dec-15
Jan-16
Feb-16
Mar-16
Spread Price - Raw mat cost US EU China Russia
5. 100% utilization rates at the the Groupโs core assets
Q1โ16 NLMK OUTPUT AND SALES
โข Steel sales increased by 10% qoq to 4.1 m t
o Product mixed improved: finished steel sales up by 22%
o Standard products sales up by 36% driven by domestic and
export sales of re-bars/billets (+31%) and HRC (+44%)
โข Steel output grew by 3% qoq to 4.0 m t
o Higher production at Russian Long Products and
the US divisions
โข 100% capacity utilization of the core assets
โข Slab sales to international subsidiaries and
associates: 0.8 m t (47% of total slab sales)
5
STEEL PRODUCTION
SALES STRUCTURE
UTILIZATION RATES BY SEGMENT
0,36 0,44 0,31
0,47 0,45 0,45
1,62 1,66 1,57
1,24 1,07 1,45
1,09
1,04
1,12
3,95
0,83
3,77
0,89
4,14
0,77
Q1 2015
external
sales
Q1 2015
subsidiaries
and
associates
Q4 2015
external
sales
Q4 2015
subsidiaries
and
associates
Q1 2016
external
sales
Q1 2016
subsidiaries
and
associates
HVA
products
Standard
products
Semis*
Semis to NBH
Semis to
subsidiaries
3,09 3,26 3,20
0,69 0,53 0,630,09 0,08 0,16
3,87 3,86 3,99
0,00
0,50
1,00
1,50
2,00
2,50
3,00
3,50
4,00
4,50
Q1 2015 Q4 2015 Q1 2016
Russian flat products Russian long products Foreign rolled products
100%
72% 74%
94%
68%
75%
Russian flat
products
20%
Russian long
products
5%
Foreign rolled
products
100%
NLMK Group
Global average
M tonnes
=+ +
M t
M t
* Including sales to NBH
6. Solid performance against extremely weak global market
Q1โ16 HIGHLIGHTS
โข Q1โ16 KEY HIGHLIGHTS
o Revenue: $1,577 m (-4% qoq; -29% yoy)
o EBITDA: $290 m (-10% qoq; -55% yoy)
o EBITDA margin: 18% (-2 p.p. qoq; -11 p.p. yoy)
o Net profit: $57 m (-25% qoq; -82% yoy)
o Capex: $121 m (-19% qoq; +4% yoy)
o Free cash flow*: $275m (+147% qoq; -21% yoy)
โข FINANCIAL POSITION AS OF 31/03/2016
o Net Debt: $967 m (-11% qoq; -22% yoy)
o Net Debt/EBITDA: 0.6x (0.6x as of 31/12/15)
โข DECLARED DIVIDENDS
o Q4โ15: 14,564 million rubles (2.43 rubles per share)
o Q1โ16: 6,772 million rubles (1.13 rubles per share)
6
FINANCIAL PERFORMANCE
FINANCIAL POSITION
0%
5%
10%
15%
20%
25%
30%
0
500
1 000
1 500
2 000
2 500
3 000
Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16
Revenue EBITDA EBITDA margin
$ M
0,0
0,5
1,0
1,5
0
1 000
2 000
3 000
4 000
5 000
Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16
Total Debt Cash & CE** Net Debt/EBITDA, rh
$ M
* Free cash flow = operational cash flow minus capex minus advances for VAT payments
on imported equipment minus net interest payments
** Cash & CE stands for Cash & Cash Equivalents and short-term investments
7. Q2 2016 performance will improve as the market recovers
Q2โ2016 OUTLOOK
โข MARKET
o Global market: world steel demand should stabilize in Q2 supported by better supply discipline, cost inflation and
stronger demand in the global markets
o Russian market: seasonal uptick in demand and global steel price trends continue to drive domestic prices up
o European market: steel consumption growth is anticipated to seasonally restore supported by low inventory levels.
Steel prices are driven by better demand, reduced competition from imports and cost push.
o US market: steady demand in construction and car manufacturing to support steel consumption with energy sector to
restrain growth. Weakening imports pressure and cost inflation to support steel prices
โข OPERATIONAL RESULTS
o Better demand in Russian and global markets to translate into stronger sales
o The Group capacity utilization to remain above 90%
โข FINANCIAL RESULTS
o Improving market conditions in early 2016 to drive financial performance in Q2โ16
7
9. $ M
Strong sales partially offset price softening
Q1โ16 PROFITABILITY
โข EBITDA down by 10% qoq to $290 m
o Due to narrowing price/cost spreads as selling prices bottomed
โข (-) Russian Flat Products
o (-) Narrowed price spreads and price recognition lag effect
o (+) Strong sales both in Russia and export markets
o (+) Higher share of finished products
โข (+) Foreign Rolled Products
o (+) Demand growth in the US and EU market
o (+) Widening price spreads to semis
โข (+) Russian Long Products
o (-) Narrowed long products/scrap price spreads
o (+) Growth in sales volumes, mostly by a reduction in
accumulated stocks of finished products
o (+) Reduced costs in the periods of lower utilization rates
โข (-) Mining
o (-) Lower ruble prices
o (-) Lower Q1 sales due to bottom level prices prompting
growth in Q2 sales
9
Q1โ16/ Q4โ15 EBITDA ANALYSIS
EBITDA BY SEGMENT
321
290
-39
-25
-20
40 13
EBITDA
Q4'15
Russian
flat
products
Foreign
rolled
products
Russian
long
products
Mining Other
operations
including
intersegmental
EBITDA
Q1'16
$ M
64 83 58
540
272
233
-13 -30
11
31
-18
-5
18
13
-7
641
321
290
Q1'15 Q4'15 Q1'16
Mining Russian flat products
Foreign rolled products Russian long products
Other operations including intersegmental
10. EBITDA
Net working capital change
Other non-cash operations*
Income tax
OPERATING CASH FLOW
Net interest
Capex**
Change of advances VAT
payments (capex)
FREE CASH FLOW
Net decrease in borrowings
FREE CASH FLOW TO EQUITY
Decrease in deposits
and financial investment
Dividends
FX rate change
and other factors
CHANGE IN CASH 203
22
-153
106
228
-47
275
2
-121
-28
421
-31
-2
164
290
2,5x growth in Free Cash Flow generation
CASH FLOW
โข Q1โ16 Net Operating Cash Flow: $421 M
o Working capital release of $164 m
๏ง Decrease in slab stocks at NLMK USA due to higher sales
๏ง Usage of winter scrap inventories at Russian assets
๏ง Drop in finished steel inventories at Russian Long products
segment due to higher sales
o Q1โ16 capex: $121 m
โข 2.5X growth in Q1 FCF to $275 M
o Solid base for dividends payout
o Leading to net debt reduction and improved liquidity
10
Q1โ16 CASH FLOW BRIDGE, $M
* Foreign currency exchange gains, other income/(expenses)
** Including capitalized interest of $9 m for Q1โ16
11. Superior debt profile
DEBT POSITION
โข Net debt reduction 11% qoq
o Net Debt: $0.97 bn (-11% qoq, -22% yoy)
o Total debt: $2.67 bn (flat qoq, +4% yoy)
โข Strong liquidity maintained
o Cash and cash equivalents*: $1.7 bn (+7% qoq, +29% yoy)
โข NET DEBT / 12M EBITDA: 0.61x (+0.05 p. qoq)
11
DEBT MATURITY AND LEVERAGE
FINANCIAL DEBT CHANGE IN Q1โ16
NET DEBT CHANGE IN Q1โ16
3,2
3,0
2,9
3,1
3,0
2,9
2,7
2,9
2,6
Q1'14
Q2'14
Q3'14
Q4'14
Q1'15
Q2'15
Q3'15
Q4'15
Q1'16
Weighted average
maturity
1,4
1,1
0,8
0,7
0,5
0,5
0,5
0,6
0,6
Q1'14
Q2'14
Q3'14
Q4'14
Q1'15
Q2'15
Q3'15
Q4'15
Q1'16
Net debt/EBITDA
2,12
2,63
2,07
0,56 -0,05 0,04 0,60
31 Dec'15 Net borrowings FX rate change and
other*
31 Mar'16
ST debt LT debt
1,09
0,42
0,12
0,15
0,02
0,97
-1,0
-0,5
0,0
0,5
1,0
1,5
Net Debt
(31 Dec '15)
Net operating
cash flow
Capex Dividends FX rate and
other factors
Net Debt
(31 Mar '16)
$ BN
$ BN
* Cash and cash equivalents and short term investments
** include interest accrued
2.68 2.67
12. 499
376
984
703
85
0
200
400
600
800
1 000
2016 2017 2018 2019 2020 and on
RUB bonds ECA lines Eurobonds (USD) Revolvers for W/C funding PXF
Strong liquidity position and comfortable debt maturity profile
LIQUIDITY AND DEBT MATURITY PROFILE
โข Strong liquidity position of $1.7 bn with
additional $1.1 bn of credit lines
โข Comfortable debt maturity profile
o ST debt $0.58 bn* incl. revolver lines for W/C financing,
RUB bonds, short term part of ECA-backed financing
o LT debt $2.07 bn, incl. Eurobonds, RUB bonds, PXF and
LT part of ECA-backed financing
12
LIQUIDITY AND ST-DEBT PAYMENTS*
DEBT MATURITY*
$ M
$ M
Available credit lines
1 699
578
1 107
84
273
142 79
Liquid assets Q2'16 Q3'16 Q4'16 Q1'17 12 months
14. 8% 6% 3% 3%
37% 35%
27% 26%
24% 30%
19% 23%
13% 15%
14% 14%
6% 5%
7% 5%
3% 4%
6% 6%
12% 12%
Sales volume
Q4 15
Sales volume
Q1 16
Revenue
Q4'15
Revenue
Q1'16
Other operations**
Transformer
Dynamo
Pre-painted
Galvanized
CRC
HRC
Slabs
Pig iron
1 406
1 289 1 270 1 201 1 223
1 025
928
603 537
342
409 322
274
210
462 528 540
366 403 272 233
23% 29%
34%
23% 26%
21% 20%
-20%
-10%
0%
10%
20%
30%
40%
0,0
500,0
1 000,0
1 500,0
2 000,0
2 500,0
Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16
Revenue from intersegmetal sales Revenue from third parties
EBITDA EBITDA margin
Solid EBITDA margin even in weak price environment
RUSSIAN FLAT PRODUCTS
โข SALES TO 3RD PARTIES UP BY 2% QoQ
o (+) Improved demand in export markets
o (+) Finished steel sales up 15% qoq
o (-) Change in presentation of export sales*
โข EXTERNAL REVENUE DECREASE BY 9% QoQ
o (+) Increase in sales volumes
o (-) Weak domestic prices and delayed exports sales
recognition (better prices in Q2)
โข EBITDA REDUCTION TO $233 M
o (+) Higher share of finished products
o (-) Narrowed price spreads
14
SEGMENT REVENUE AND EBITDA
SALES & REVENUE FROM 3RD PARTIES
COST OF SALES IN Q1โ16
19%
22%
6%6%
10%
4%
5%
1%
10%
10%
8%
Iron ore materials
Coke and coal
Scrap
Ferroalloys
Other raw materials
Electricity
Natural gas
Other energy resources
Personnel
Other expenses and changes in inventories
Depreciation
2.401 m t $1,025 m2.458 m t $928 m
**Revenue from the sale of other products and services
$ M
$801 m
+2% -9%
*Since Q1โ16 export sales of other segments via traders have been accounted as sales of corresponding segments. Initially those shipments were accounted as sales of Russian Flat Product segment
15. Increase in sales despite low seasonal activity in the Russian market
RUSSIAN LONG PRODUCTS
โข SALES TO 3RD PARTIES UP BY 43% QoQ
o (+) Higher exports of billets and long products
o (+) Change in presentation of export sales*
โข EXTERNAL REVENUE UP BY 17% QoQ
o (+) Strong sales volumes
o (-) Seasonally weak domestic prices and weak global prices
โข EBITDA IMPROVED BY 74% QoQ
o (-) Narrowed long products/scrap price spreads
o (+) Growth in sales volumes, mostly by a reduction in
accumulated stocks of finished products
o (+) Reduced costs in the periods of lower utilization rates
15
SEGMENT REVENUE AND EBITDA
SALES & REVENUE FROM 3RD PARTIES
COST OF SALES IN Q1โ16
** Revenue from the sale of scrap, other products (ex. by-products) and services
61%
3%5%
7%
8%
10%
5%
Scrap
Ferroalloys
Other raw materials
Electricity
Personnel
Other expenses
Depreciation
$177 m
72% 73% 68% 68%
14% 10% 17% 11%
14% 17% 15%
16%
Sales volume
Q4'15
Sales volume
Q1'16
Revenue
Q4'15
Revenue
Q1'16
Scrap and other**
Billets
Metalware
Long products
625 k t $165 m$142 m438 k t
$ M
+43% +17%
378
302
231
267
220
142
165
115
94
43
95
88
68 24
53 38 31
7
27
-18
-5
11% 10%
11%
2%
9%
-8%
-2%
-10%
-5%
0%
5%
10%
15%
-100,0
0,0
100,0
200,0
300,0
400,0
500,0
600,0
Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16
Revenue from intersegmetal sales Revenue from third parties
EBITDA EBITDA margin
* Starting from Q1โ16 export sales of long products through export traders are accounted as sales of Russian Long products segment
16. Extremely low iron ore prices drove EBITDA decline
MINING
โข SALES VOLUMES DOWN BY 4% QoQ
o (-) Additional stock created to support Q2โ16 volumes
with higher prices
โข REVENUE DOWN BY 26% QoQ
o (-) Lower sales volumes
o (-) Lower RUB prices
โข EBITDA MARGIN AT 54%, EBITDA OF $58 M
16
SEGMENT REVENUE AND EBITDA
SALES AND REVENUE
COST OF SALES IN Q1โ16
* Other operations include limestone, dolomite and other sales
8%
23%
6%
30%
13%
18%
Raw materials
Electricity
Natural gas
Other energy resources
Personnel
Other expenses
Depreciation
$44 m
72% 76%
67% 72%
28% 24%
27% 21%
7% 7%
Sales volume
Q4'15
Sales volume
Q1'16
Revenue
Q4'15
Revenue
Q1'16
Other
operations*
Iron ore sales
to third parties
Iron ore sales
to Lipetsk site
4.303 m t $107 m$ 145 m4.485 m t
70 70
46 56
4
43 25
178
126
89
110
103
103
82
145 100
64
74
77 83
58
58%
51%
47%
45%
54%
57%
54%
0%
10%
20%
30%
40%
50%
60%
70%
0,0
50,0
100,0
150,0
200,0
250,0
300,0
Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16
Revenue from intersegmetal sales Revenue from third parties
EBITDA EBITDA margin
$ M
-4 % -26 %
17. Widening spreads and higher sales resulted in a positive EBITDA
FOREIGN ROLLED PRODUCTS
โข SEGMENT SALES UP BY 26% QoQ
o (+) NLMK Dansteel sales +9% qoq
o (+) NLMK USA sales volumes + 31% qoq
โข SEGMENTโS PROFITABILITY IMPROVED
o (+) Increase in sales volumes
o (+) Widening spreads b/w slabs and finished steel
o (+) Inventory of expensive slabs exhausted (USA)
17
SALES & REVENUE FROM 3RD PARTIES
SEGMENT REVENUE AND EBITDA
* Revenue from the sale of other products and services
24% 21% 23% 20%
37% 41%
28% 32%
22% 24%
23% 26%
17% 14%
18% 16%
8% 6%
Sales volume
Q4'15
Sales volume
Q1'16
Revenue
Q4'15
Revenue
Q1'16
Other operations*
Galvanized
CRC
HRC
Thick plate
Semi-finished
590 k t $317 m$ 282 m469 k t
502 502 523
488
420
382
358
282
317
35
5 34 30
-13
-42
-12 -30
11
7%
1%
7% 6%
-3%
-11%
-3%
-11%
3%
-100,0
0,0
100,0
200,0
300,0
400,0
500,0
600,0
Q1'14 Q2'14 Q3'14 Q4'14 Q1'15 Q2'15 Q3'15 Q4'15 Q1'16
Revenue from third parties EBITDA EBITDA margin
$ M
+26 % +12 %
19. M tonnes
8% 6% 7%
7% 8% 6%
13% 13% 14%
18% 17% 20%
30% 25% 23%
8% 9% 9%
Q1'15 Q4'15 Q1'16
Other products*
Pig iron
Slabs
Billets
HRC
Thick plates
CRC
Galvanized
Pre-painted
Electrical
Long products
Metalware
Sales volumes followed market trends in the US and Russia
SALES STRUCTURE
โข Q1โ16: SALES UP BY 10% QoQ TO 4.14 MT
o +37 % QoQ Longs
o +18% QoQ Flats
o +8% QoQ high value added products
o -5% QoQ of semi-finished
โข Q1โ16: REVENUE DOWN 4% QoQ TO $1.58 BN
o (-) Decrease in steel prices
โข PRICE ENVIRONMENT
o Russia: prices dropped by 5% QoQ
o Russia export: prices declined by 1% QoQ
o Europe: prices down by 5% QoQ
o USA: prices increased by 5% QoQ
19
SALES STRUCTURE BY PRODUCT
REVENUE BY PRODUCT
0,44 0,32 0,46
0,24 0,22 0,19
0,47 0,43 0,53
0,79 0,75
0,99
1,42 1,35 1,31
Q1'15 Q4'15 Q1'16
Pig iron
Slabs
Billets
HRC
Thick plates
CRC
Galvanized
Pre-painted
Electrical
Long products
Metalware
3.96 3.77 4.14
1.642.22 1.58
* Revenue from Other operations includes sales of other products (iron
ore, coke, scrap and others)
$ BN
20. $ Bn
Capturing opportunities in the Russian market
SALES GEOGRAPHY
โข +11% QoQ GROWTH IN GLOBAL SALES
o +33% QoQ in North America
o +26% QoQ in European Union
o +7% YoY to Middle East, incl. Turkey
โข +8% QOQ - SALES TO RUSSIAN MARKET
o Despite seasonally weaker demand
20
NLMK SALES TO THE RUSSIAN MARKET
STEEL PRODUCT SALES BY REGION
REVENUE BY REGION
by sector by product type
71%
9%
20%
0%
20%
40%
60%
80%
100%
Sales by industries
in Q1'16
Pipe producers
Machine building
Construction and
infrastructure 29%
54%
17%
Sales by product
type in Q1'16
Semi-finished
Flat steel
Long products and
metalware
1,41 1,45 1,56
0,81 0,77
0,97
0,32 0,34
0,360,53 0,45
0,600,33 0,21
0,160,55
0,55
0,48
0
1
1
2
2
3
3
4
4
5
Q1 15 Q4 15 Q1 16
Others
SE Asia
N.America
M. East*
EU
Russia
0,78 0,61 0,59
0,39
0,37 0,32
0,17
0,14 0,13
0,39
0,24 0,28
0,31
0,19 0,18
0
1
2
3
Q1 15 Q4 15 Q1 16
Others
SE Asia
N. America
M. East*
EU
Russia
2.22
1.64
1.58
* incl. Turkey
M tonnes
3.96 3.77 4.14
21. 949 900 858
466 450 453
213 321
160
146 122
154
1 775 1 793
1 625
0
200
400
600
800
1 000
1 200
1 400
1 600
1 800
2 000
-
200,0
400,0
600,0
800,0
1 000,0
1 200,0
1 400,0
1 600,0
1 800,0
2 000,0
Q1'15 Q4'15 Q1'16
To third parties NBH NLMK USA NLMK Dansteel
222 176
242
132
103
142
74
78
82
109
111
121
536
468
588
01,23401752,46803513,70205264,93607016,17008767,40410528,63812279,872140211,10615812,34017513,57419314,8082116,04222817,27624518,51026319,7442820,97829822,21231523,44633324,68035125,91436827,14838628,38240329,61642130,85043832,08445633,31847334,55249135,78650837,02052638,25454339,48856140,72257841,95659643,19061344,42463145,65864846,89266648,12668349,36070150,59471951,82873653,06275454,29677155,53078956,76480657,99882459,23284160,46685961,70087662,93489464,16891165,40292966,63694667,87096469,10498170,33899971,57301672,80703474,04105275,27506976,50908777,74310478,97712280,21113981,44515782,67917483,91319285,14720986,38122787,61524488,84926290,08327991,31729792,55131493,78533295,01934996,25336797,48738598,72140299,95542101,18944102,42345103,65747104,89149106,12551107,35952108,59354109,82756111,06158112,29559113,52961114,76363115,99765117,23166118,46568119,6997120,93372122,16774123,40175124,63577125,86979127,10381128,33782129,57184130,80586132,03988133,27389134,50791135,74193136,97595138,20996139,44398140,678141,91202143,14603144,38005145,61407146,84809148,0821149,31612150,55014151,78416153,01817154,25219155,48621156,72023157,95424159,18826160,42228161,6563162,89031164,12433165,35835166,59237167,82638169,0604170,29442171,52844172,76245173,99647175,23049176,46451177,69852178,93254180,16656181,40058182,63459183,86861185,10263186,33665187,57066188,80468190,0387191,27272192,50673193,74075194,97477196,20879197,4428198,67682199,91084201,14486202,37887203,61289204,84691206,08093207,31494208,54896209,78298211,017212,25101213,48503214,71905215,95307217,18708218,4211219,65512220,88914222,12315223,35717224,59119225,82521227,05922228,29324229,52726230,76128231,99529233,22931234,46333235,69735236,93136238,16538239,3994240,63342241,86744243,10145244,33547245,56949246,80351248,03752249,27154250,50556251,73958252,97359254,20761255,44163256,67565257,90966259,14368260,3777261,61172262,84573264,07975265,31377266,54779267,7818269,01582270,24984271,48386272,71787273,95189275,18591276,41993277,65394278,88796280,12198281,356282,59001283,82403285,05805286,29207287,52608288,7601289,99412291,22814292,46215293,69617294,93019296,16421297,39822298,63224299,86626301,10028302,33429303,56831304,80233306,03635307,27036308,50438309,7384310,97242312,20643313,44045314,67447315,90849317,1425318,37652319,61054320,84456322,07857323,31259324,54661325,78063327,01464328,24866329,48268330,7167331,95071333,18473334,41875335,65277336,88678338,1208339,35482340,58884341,82285343,05687344,29089345,52491346,75892347,99294349,22696350,46098351,69499352,92901354,16303355,39705356,63106357,86508359,0991360,33312361,56713362,80115364,03517365,26919366,50321367,73722368,97124370,20526371,43928372,67329373,90731375,14133376,37535377,60936378,84338380,0774381,31142382,54543383,77945385,01347386,24749387,4815388,71552389,94954391,18356392,41757393,65159394,88561396,11963397,35364398,58766399,82168401,0557402,28971403,52373404,75775405,99177407,22578408,4598409,69382410,92784412,16185413,39587414,62989415,86391417,09792418,33194419,56596420,79998422,03399423,26801424,50203425,73605426,97006428,20408429,4381430,67212431,90613433,14015434,37417435,60819436,8422438,07622439,31024440,54426441,77827443,01229444,24631445,48033446,71434447,94836449,18238450,4164451,65041452,88443454,11845455,35247456,58648457,8205459,05452460,28854461,52255462,75657463,99059465,22461466,45862467,69264468,92666470,16068471,39469472,62871473,86273475,09675476,33076477,56478478,7988480,03282481,26683482,50085483,73487484,96889486,20291487,43692488,67094489,90496491,13898492,37299493,60701494,84103496,07505497,30906498,54308499,7771501,01112502,24513503,47915504,71317505,94719507,1812508,41522509,64924510,88326512,11727513,35129514,58531515,81933517,05334518,28736519,52138520,7554521,98941523,22343524,45745525,69147526,92548528,1595529,39352530,62754531,86155533,09557534,32959535,56361536,79762538,03164539,26566540,49968541,73369542,96771544,20173545,43575546,66976547,90378549,1378550,37182551,60583552,83985554,07387555,30789556,5419557,77592559,00994560,24396561,47797562,71199563,94601565,18003566,41404567,64806568,88208570,1161571,35011572,58413573,81815575,05217576,28618577,5202578,75422579,98824581,22225582,45627583,69029584,92431586,15832587,39234588,62636589,86038591,09439592,32841593,56243594,79645596,03046597,26448598,4985599,73252600,96653602,20055603,43457604,66859605,90261607,13662608,37064609,60466610,83868612,07269613,30671614,54073615,77475617,00876
Q1'15 Q4'15 Q1'16
HRC CRC HDG Plates (NLMK Dansteel)
Uptick in sales both in the US and Europe markets
FOREIGN ASSETS PERFORMANCE
21
NBH FINANCIAL RESULTS
NBH ROLLED PRODUCT SALES
NLMK USA AND NLMK DANSTEEL SALES
SLABS SALES FROM RUSSIAN FLAT DIVISION
218 187
228
164
135
175
85
86
87
13
9
11
479
417
501
0,001,052,103,154,215,266,317,368,419,4610,5111,5712,6213,6714,7215,7716,8217,8718,9319,9821,0322,0823,1324,1825,2326,2927,3428,3929,4430,4931,5432,6033,6534,7035,7536,8037,8538,9039,9641,0142,0643,1144,1645,2146,2647,3248,3749,4250,4751,5252,5753,6254,6855,7356,7857,8358,8859,9360,9862,0463,0964,1465,1966,2467,2968,3469,4070,4571,5072,5573,6074,6575,7076,7677,8178,8679,9180,9682,0183,0684,1285,1786,2287,2788,3289,3790,4291,4892,5393,5894,6395,6896,7397,7998,8499,89100,94101,99103,04104,09105,15106,20107,25108,30109,35110,40111,45112,51113,56114,61115,66116,71117,76118,81119,87120,92121,97123,02124,07125,12126,17127,23128,28129,33130,38131,43132,48133,53134,59135,64136,69137,74138,79139,84140,89141,95143,00144,05145,10146,15147,20148,25149,31150,36151,41152,46153,51154,56155,61156,67157,72158,77159,82160,87161,92162,98164,03165,08166,13167,18168,23169,28170,34171,39172,44173,49174,54175,59176,64177,70178,75179,80180,85181,90182,95184,00185,06186,11187,16188,21189,26190,31191,36192,42193,47194,52195,57196,62197,67198,72199,78200,83201,88202,93203,98205,03206,08207,14208,19209,24210,29211,34212,39213,44214,50215,55216,60217,65218,70219,75220,80221,86222,91223,96225,01226,06227,11228,17229,22230,27231,32232,37233,42234,47235,53236,58237,63238,68239,73240,78241,83242,89243,94244,99246,04247,09248,14249,19250,25251,30252,35253,40254,45255,50256,55257,61258,66259,71260,76261,81262,86263,91264,97266,02267,07268,12269,17270,22271,27272,33273,38274,43275,48276,53277,58278,63279,69280,74281,79282,84283,89284,94285,99287,05288,10289,15290,20291,25292,30293,36294,41295,46296,51297,56298,61299,66300,72301,77302,82303,87304,92305,97307,02308,08309,13310,18311,23312,28313,33314,38315,44316,49317,54318,59319,64320,69321,74322,80323,85324,90325,95327,00328,05329,10330,16331,21332,26333,31334,36335,41336,46337,52338,57339,62340,67341,72342,77343,82344,88345,93346,98348,03349,08350,13351,18352,24353,29354,34355,39356,44357,49358,55359,60360,65361,70362,75363,80364,85365,91366,96368,01369,06370,11371,16372,21373,27374,32375,37376,42377,47378,52379,57380,63381,68382,73383,78384,83385,88386,93387,99389,04390,09391,14392,19393,24394,29395,35396,40397,45398,50399,55400,60401,65402,71403,76404,81405,86406,91407,96409,01410,07411,12412,17413,22414,27415,32416,37417,43418,48419,53420,58421,63422,68423,74424,79425,84426,89427,94428,99430,04431,10432,15433,20434,25435,30436,35437,40438,46439,51440,56441,61442,66443,71444,76445,82446,87447,92448,97450,02451,07452,12453,18454,23455,28456,33457,38458,43459,48460,54461,59462,64463,69464,74465,79466,84467,90468,95470,00471,05472,10473,15474,20475,26476,31477,36478,41479,46480,51481,56482,62483,67484,72485,77486,82487,87488,93489,98491,03492,08493,13494,18495,23496,29497,34498,39499,44500,49501,54502,59503,65504,70505,75506,80507,85508,90509,95511,01512,06513,11514,16515,21516,26517,31518,37519,42520,47521,52522,57523,62524,67525,73
Q1'15 Q4'15 Q1'16
HRC Plates Coated CRC
355
-15
264
-56
283
-7
Revenue
Q1'15
EBITDA
Q1'15
Revenue
Q4'15
EBITDA
Q4'15
Revenue
Q1'16
EBITDA
Q1'16
K tonnes
K tonnes
K tonnes
$ M
QoQ
Total 20%
CRC 16%
Coated 1%
Plates 30%
HRC 22%
QoQ
Total 26%
Plates 9%
HDG 5%
CRC 38%
HRC 38%
QoQ
Total -9%
NLMK Dansteel 27%
NLMK USA -50%
NBH 1%
To third parties -5%