Global Metals Awards jury applauds NLMK Group management success with Strategy 2017 execution
The judges of the prestigious S&P Global Platts Global Metals Awards applauded the role that NLMK Group’s top management team played in the success of Strategy 2017 and recognized Oleg Bagrin, member of the Board of Directors, who presided over the company from 2012 to March 2018 and was the architect of its previous five-year strategic cycle, as "CEO of the Year".
“This award also belongs to the entire team of NLMK, my crew, which I led for the last 5 years. It’s been a great journey. Thank you very much for this award,” Oleg Bagrin said at the "CEO of the Year" awards ceremony.
Under Oleg Bagrin’s leadership from 2013 to 2017 the NLMK team developed and executed Strategy 2017, thanks to which the company regained market leadership, and achieved improved operational efficiency and financial stability following a major revamp and expansion of the Group’s chain of international facilities, building a robust foundation for more agile development.
Strategy 2017 projects delivered a 2 million tonne boost to the company’s steel output in 2017 vs. the 2013 level, without the need for significant investment, increasing EBITDA by 70%, thus outstripping Russian and foreign competitors. The structural effect exceeded the planned $1 billion, debt has been reduced to a minimum, and dividends reached an all-time high. NLMK Group secured its needs for all types of iron ore feedstock, having completed the construction of the largest pelletizing plants in Europe at Stoilensky in record-breaking time and launched it in 2016.
The Awards ceremony took place on 17 May 2018 in London. The Awards program, which is now in its sixth year, was hosted by leading international periodical S&P Global Platts, which provides analytical information on commodities and energy markets. The finalists were chosen from more than 100 nominees from various countries. The short-list of the category ‘CEO of the Year’ included representatives from 11 companies.
Traditionally the ‘CEO of the Year’ award is open to company leaders who consistently demonstrate clarity of vision, effective communication and motivational skills thus empowering organizations. The winner is a leader who is highly respected by both peers and competitors, admired and followed by employees, and trusted by investors.
The Platts Global Metals Awards recognises the top performers, industry leaders and innovators in the steel, metals and mining industries. The Awards program offers 15 categories both for business and individual achievement. It is modelled on the Platts Global Energy Awards, which was established in 1999 and is often described as the Oscars of the energy industry.
About S&P Global Platts
S&P Global Platts is a periodical that is part of S&P Global Inc. holding. S&P Global Platts is the leading independent provider of information on a variety of markets spanning energy, petrochemicals, metals, agricultural products and shipping. The company was founded in 1909. S&P Global Platts is headquartered in London and employs over 1,000 people in more than 15 offices worldwide.
About NLMK Group
NLMK Group is the largest steelmaker in Russia and one of the most efficient in the world.
NLMK Group’s steel products are used in various industries, from construction and machine building to the manufacturing of power-generation equipment and offshore windmills.
NLMK operates production facilities in Russia, Europe and the United States. The Company’s steel production capacity exceeds 17 million tonnes per year.
NLMK has the most competitive cash cost among global manufacturers and one of the highest profitability levels in the industry. In 3M 2018, the Company generated $2.79 billion in revenue and $0.8 billion in EBITDA. As of 31 March 2018, Net debt/EBITDA stood at 0.31х. The company has investment grade credit ratings from S&P, Moody’s and Fitch.
NLMK’s ordinary shares with a 16% free-float are traded on the Moscow Stock Exchange (ticker "NLMK") and its global depositary shares are traded on the London Stock Exchange (ticker "NLMK:LI"). The share capital of the Company is divided into 5,993,227,240 shares with a par value of RUB 1. For more details on NLMK shareholder capital, please follow the link.
NLMK Group received the Steel Industry Leadership Award at the prestigious 2016 Platts Global Metals Awards held by S&P Global Platts, a leading international industry analytical periodical.
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