GENERAL SHAREHOLDERS MEETING BUSINESS YEAR 2013 NORTH AMERICAN - PowerPoint PPT Presentation

GENERAL SHAREHOLDERS’ MEETING BUSINESS YEAR 2013

NORTH AMERICAN FACTORY

SOUTH AFRICAN FACTORY

RAW MATERIALS DEPOT

STAINLESS STEEL COLD ROLLED SHEET PRICES AISI 304 2.0 mm Euros/Mt 3,500 EUROPEAN MARKET 3,000 2,500 Extra de Aleación 2,000 Alloy Surcharge 1,500 Precio Base 1,000 Base Price 500 0 2011 2012 2013 Source: Metal Bulletin

OFFICIAL NICKEL PRICE IN THE L.M.E. Average price: cash / three months (USD/Mt. Ni.) 30,000 25,000 20,000 15,000 10,000 2011 2012 2013

MELTING SHOP

FIRST HALF 2012-2013 2012 2013 Variation Production 1,179 1,168 -1% Thousand Mt. Thousand Mt. Net Sales 2,419 2,072 -14% Million euros Million euros EBITDA 166 119 -28% Million euros Million euros Net Result 40 16 -60% Million euros Million euros

STAINLESS STEEL REINFORCING BARS (EN 1.4362) IN NEW JERSEY

SECOND HALF 2012-2013 2012 2013 Variation Production 1,010 1,057 5% Thousand Mt Thousand Mt Net Sales 2,136 1,895 -11% Million euros Million euros EBITDA 32 109 244% Million euros Million euros Net Result -58 6 - Million euros Million euros

PALM OIL TANKS MADE OF STAINLESS STEEL AISI 304L

APPARENT CONSUMPTION % Variation 2012-2013 Europe +1.7% Asia United States +8.1% +4.0% South Africa -9.0%

BUSINESS YEARS 2012-2013 2012 2013 Variation Production 2,189 2,225 2% Thousand Mt Thousand Mt Net Sales 4,555 3,966 -13% Million euros Million euros EBITDA 198 228 15% Million euros Million euros Net Result -18 22 - Million euros Million euros

INVESTMENTS OF THE CONSOLIDATED GROUP Million euros 2013 2012 Acerinox, S.A. 0.7 0.2 Acerinox Europa 39.6 41.3 NAS 8.5 17.6 Columbus 16.0 7.7 Bahru Stainless 59.3 139.6 Roldán and Inoxfil 1.6 1.3 Spanish Trading Companies 0.1 0.1 Overseas Trading Companies 0.4 1.4 Total 126.3 209.1

CAMPO DE GIBRALTAR FACTORY

SHEARING LINE

MALAYSIAN FACTORY

HOT ROLLING COILER

RETURN TO SHAREHOLDERS Euros/share Dividend Issue premium 0.45 0.45 0.45 0.45 0.433 0.10 0.10 0.10 0.10 0.433 0.35 0.35 0.35 0.35 * 09 10 11 12 13 * Scrip dividend

EVOLUTION OF THE STOCK EXCHANGE MARKET - ACERINOX & IBEX 35 Daily percentage data, year 2013 Acerinox Ibex 35 +21.4% +10.8% Jan Feb Mar Abr May Jun Jul Aug Sep Oct Nov Dec

EVOLUTION OF THE STOCK EXCHANGE MARKET - ACERINOX & IBEX 35 Daily percentage data, year 2014 until May 31 st Acerinox Ibex 35 + 36.1 % +8.9% Jan Feb Mar Abr May Jun Jul Aug Sep Oct Nov Dec

REGASIFICATION PLANT MADE OF STAINLESS STEEL AISI 316

FIRST QUARTER 2013-2014 2013 2014 Variation Production 587 617 5% Thousand Mt Thousand Mt Net Sales 1,035 1,024 -1% Million euros Million euros EBITDA 68 89 30% Million euros Million euros Net Result 15 25 64% Million euros Million euros

FIVE KEYS TO THE FUTURE

FIVE KEYS TO THE FUTURE  GOOD PRODUCT  REDUCTION OVERCAPACITY  NICKEL PIG IRON  INDUSTRIALIZATION  EFFICIENCY AND COMPETITIVENESS

STAINLESS STEEL WORLD PRODUCTION 40,000 38.1 million Mt 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 1950 ‘60 ‘70 ‘80 ‘90 2000 2013 Annual growth rate: 6% Source: ISSF

Stainless steel plates Bicycle parking in stainless steel AISI 316

FIVE KEYS TO THE FUTURE  GOOD PRODUCT  REDUCTION OVERCAPACITY  NÍQUEL PIG IRON  INDUSTRIALIZATION  EFFICIENCY AND COMPETITIVENESS

STAINLESS STEEL WORLD PRODUCTION 50.0% 40,000 35,000 30,000 25,000 3.8% 20,000 15,000 10,000 5,000 0 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 Europe + Africa Americas Rest of Asia China

CHINESE FACTORIES Melting shop

MAIN PRODUCERS WORLD ANNUAL GROWTH 6% 2.3 MILLION Mt/YEAR 2 INTEGRATED FACTORIES LIKE NAS

EUROPE CONSOLIDATION T H Y S S E N K R U P P 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

FIVE KEYS TO THE FUTURE  GOOD PRODUCT  REDUCTION OVERCAPACITY  NICKEL PIG IRON  INDUSTRIALIZATION  EFFICIENCY AND COMPETITIVENESS

NICKEL PIG IRON  Ferronickel with low nickel content  Ore from Indonesia and the Philippines  Indonesian ban → Nickel price rise → Philippine ore price rise → Removes advantage Chinese producer

SCRAP RECYCLING

FIVE KEYS TO THE FUTURE  GOOD PRODUCT  REDUCTION OVERCAPACITY  NICKEL PIG IRON  INDUSTRIALIZATION  EFFICIENCY AND COMPETITIVENESS

PRESIDENT OF THE ANDALUCÍA GOVERNMENT VISITING THE PLANT

ELECTRIC ARC FURNACE

FIVE KEYS TO THE FUTURE  GOOD PRODUCT  REDUCTION OVERCAPACITY  NICKEL PIG IRON  INDUSTRIALIZATION  EFFICIENCY AND COMPETITIVENESS

YEAR 2013, EXCELLENCE PLAN III 2013 - 2014 95%  16 chapters  Internal benchmarking  Realistic targes (including part 67% 72% of Excellence I and II) 40%  Recurrent savings: 60 millon euros/year  Already reached in 2013: 68% (41 millon euros) Q1 Q2 Q3 Q4 Trimestre Acumulado Quarter Accumulated

HUMAN RESOURCES 2013 2012 Variation Acerinox, S.A. 62 65 -4.6% Acerinox Europa 2,334 2,413 -3.3% NAS 1,381 1,374 0.5% Columbus 1,601 1,592 0.6% Bahru Stainless 385 405 -4.9% Roldan and Inoxfil 534 557 -4.1% Spanish Trading Companies 244 305 -20.0% Overseas Trading Companies 442 541 -18.3% Total 6,983 7,252 -3.7%

COMMERCIAL NETWORK 4 FACTORIES IN 4 CONTINENTS COMMERCIAL PRESENCE IN 36 COUNTRIES SALES IN OVER 80 COUNTRIES Offices 30 19 Service centers Agents 13 Warehouses 28 Mills 6

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