GENERAL SHAREHOLDERS MEETING ACERINOX Business Year 2012 Madrid, - - PowerPoint PPT Presentation

Madrid, June 5th 2013

GENERAL SHAREHOLDERS’ MEETING ACERINOX Business Year 2012

ACERINOX EUROPA FACTORY

NORTH AMERICAN STAINLESS FACTORY

COLUMBUS STAINLESS FACTORY

BAHRU STAINLESS FACTORY

ROLDAN FACTORY

INOXFIL FACTORY

Europe 37.2% Americas 49.0% Asia 7.0% Africa 6.3% Oceania 0.5%

GEOGRAPHICAL DISTRIBUTION OF ACERINOX NET SALES

Year 2012

STAINLESS STEEL STRIP

OFF-SHORE OIL PLANT MADE OF STAINLESS STEEL

COOKING SCHOOL KITCHEN MADE OF STAINLESS STEEL

SCRAP AND FINISHED PRODUCT

MELTING SHOP

PORT FACILITIES, ALGECIRAS BAY

HOT ROLLING

COMMERCIAL NETWORK

Service Centers Warehouses Offices

19

Commercial Agents Factories

21 28 14

6

STAINLESS STEEL WORLD PRODUCTION

Thousand Mt.

5,000 10,000 15,000 20,000 25,000 30,000 35,000

China Asia w/o China Americas Europe + Africa 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

3.8% 46,0%

NICKEL BRIQUETTES

STAINLESS STEEL HOUSEHOLD APLLIANCES

STAINLESS STEEL HOUSEHOLD APPLIANCES

I N O X U M A P E R A M O U T O K U M P U A C E R I N O X

Melting Shop Factory w/o melting shop

EUROPEAN CONSOLIDATION

ACERINOX EUROPA, CAMPO DE GIBRALTAR FACTORY

STAINLESS STEEL WORLD PRODUCTION

Source: VALE INCO & ISSF Thousand Mt.

50 60 70 80 90 00 10 12

2,000 4,000 6,000 8,000 10,000 12,000 14,000 16,000 18,000 20,000 22,000 24,000 26,000 28,000 30,000 32,000 34,000 36,000

2012 Stainless Steel World Production: 35.4 million Mt Compound annual growth rate

1950 - 2012:

+ 5.9%

EVOLUTION OF THE STAINLESS STEEL WORLD PRODUCTION

Million Mt.

Year 2011

8.3 22.8 2.5

Year 2012 Year 2010 Year 2009 Year 2008 25.9 24.6 31.1 33.6 35.4

• 5.1%

+8.1% +5.2%

8.6 15.0 2.3 6.7 15.9 2.0 8.2 20.3 2.6

+26.4% 8.2 24.8 2.4

 Europe and Africa  Asia  Americas

Source: ISSF

APPARENT CONSUMPTION % Variation over 2011

• 3.1%

+8.0% +8.8% +2.4%

United States Europe South Africa Asia

OFFICIAL NICKEL PRICE IN THE L.M.E. [ 2011 - 2012 ]

Average price: cash / three months (USD/Mt. Ni.)

2011 2012

5,000 10,000 15,000 20,000 25,000 30,000 35,000 J F M A M J J A S O N D J F M A M J J A S O N D

1,500 1,750 2,000 2,250 2,500 1,500 1,750 2,000 2,250 2,500 15,000 17,500 20,000 22,500 25,000 6,000 7,000 8,000 9,000 10,000

RAW MATERIALS PRICE IN THE L.M.E. Year 2012

Daily values (US$/Mt. 3 months)

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Aluminium Nickel Copper Zinc

PRODUCTION OF ACERINOX

Year 2012

Flat Product [Mt]

ACERINOX EUROPA NAS COLUMBUS BAHRU TOTAL Variation over 2011

MELTING SHOP

676,034 1,008,516 504,531 2,189,081 8.3%

HOT ROLLING

568,949 853,175 492,786 1,914,910 7.6%

COLD ROLLING

431,400 664,435 265,775 56,482 1,418,092 11.6%

Long Product [Mt]

ROLDAN NAS TOTAL Variation over 2011

HOT ROLLING

90,388 131,161 221,549 13.5%

FINISHED PRODUCTS

84,287 123,043 207,331 8.5%

MAIN FINANCIAL FIGURES OF ACERINOX

2012 2011 Variation Net Sales 4,554.69 4,672.24

• 2.5%

EBITDA 197.60 340.51

• 42.0%

Results after Taxes and Minorities

• 18.33

73.73

• Net Financial Debt

581.54 886.60

• 34.4%

Net Financial Deb / EBITDA 2.94 2.60 13.0% Net Financial Debt / Equity 33.9% 47.1%

• 28.0%

EVOLUTION OF THE STOCK EXCHANGE MARKET - ACERINOX & IBEX 35

0,35 0,35 0,35 0,35

Acerinox Ibex 35

Daily percentage data, year 2012

Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec

2007 2008 2009 2010 2011 2012

• 50%
• 45%
• 40%
• 35%
• 30%
• 25%
• 20%
• 15%
• 10%
• 5%

0%

D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D J F M A M J J A S O N D

EVOLUTION OF THE INVENTORIES OF ACERINOX 2007 - 2012

NET FINANCIAL DEBT OF THE CONSOLIDATED GROUP

Million Euros

655 674 829 1,254 923 939 1,075 1,084 887 582 200 400 600 800 1,000 1,200 1,400

2003 2004 2005 2006 2007 2008 2009 2010 2011 2012

CURRENT CREDIT LINES IN ACERINOX GROUP

Syndicated Loan: 482 million USD

Available credit facilities Used credit facilities

December 2012

0.00 0.05 0.10 0.15 0.20 0.25 0.30 0.35 0.40 0.45 0.50 0.55

08 09 10 11 12

RETURN TO SHAREHOLDERS

Euros / Share

0.45 0.45 0.45 0.45

Dividend Attendance Bonus AGM Issue Premium Refund

0.48

STRATEGIC PLAN 2008 – 2020



GENERATIONAL TRANSITION PLAN



GROUP CULTURE



MODERN STRUCTURE



EXCELLENCE PLANS



GLOBAL EXPANSION

INVESTMENTS OF THE CONSOLIDATED GROUP

Million Euros

2012 2011 Acerinox, S.A. 0.2 0.4 Acerinox Europa 41.3 22.8 NAS 17.6 17.0 Columbus 7.7 11.5 Bahru Stainless 139.6 104.0 Roldan and Inoxfil 1.3 9.6 Spanish Trading Companies 0.1 0.1 Overseas Trading Companies 1.4 3.9 Total 209.1 169.3

COMMERCIAL NETWORK

Service Centers Warehouses Offices

19

Commercial Agents Factories

21 28 14

6

BAHRU STAINLESS FACTORY

BAHRU STAINLESS: TECHNICAL ASSISTANCE

BAHRU STAINLESS – COMMERCIAL EXPANSION

Offices Commercial Agents

FIRST COIL PROCESSED IN THE ANNEALING AND PICKLING LINE AP 2

EXCELLENCE PLAN

Excellence Plan I Excellence plan II Excellence plan III

2009 - 2010 2011 – 2012 2013 – 2014

 10 chapters

 15 chapters  16 chapters

 Internal benchmarking

 Internal benchmarking  Internal benchmarking

 Realistic targets

 Realistic targets

(including part of Excellence I)

 Realistic targets

(including part of Excellence I and II)

 Recurrent savings:

133 million €/year

 Recurrent savings:

90 million €/year

 Recurrent savings:

60 million €/year

 Result: 73% (97

million €)

 Already reach: 59% (53

million €)

PROCESSING LINE

RESEARCH AND DEVELOPMENT

PORT FACILITIES, ALGECIRAS BAY

START UP OF THE INTERNAL TRAINEE PROGRAMS

C a r b o n D i s c l o s u r e G l o b a l R e p o r t i n g I n i t i a t i v e ( G R I ) ENVIRONMENTAL COMMITMENT

2013 SUSTAINABILITY AWARD

• Mr. Felipe de Borbon presents to Acerinox the “Award

for the International Career of the Spanish Company” (Círculo de Empresarios, January 2012) Acerinox receives the “Trade & Innovation Award” for its expansion in the US (AmChamSpain, September 2012) INTERNACIONAL RECOGNITION OF ACERINOX

<

Thank you very much