Severstal Wins Best Corporate Development Strategy Award
May 29, 2012
OAO Severstal has been named the winner in the Best Corporate Development Strategy category at the annual awards hosted by RCB Group and the investor.ru portal. Severstal won against fellow nominees Uralkaliy, Atomenergomash and Nizhnekamskneftekhim, among others.
After the judges reviewed the successful implementation of strategies presented by the nominated companies in 2011, they declared that Severstal had been the most successful in achieving its objectives.
In 2011, Severstal articulated its updated strategy with the key strategic goal of achieving a top five industry position by EBITDA through sustained high margins and returns on investment.
Severstal’s 2011 financial results demonstrated that the company was the leader among Russian steel companies in terms of EBITDA, EBITDA margin, and ROCE. In 2012, the company will further develop its projects and operations including the construction of a new rolling mill in Balakovo as well as the continuing development of a large iron ore deposit at Putu in Liberia and coalfields in Tyva and the Komi Republic.
Vladimir Zaluzhsky, head of Severstal Investor Relations, said: "Every public company is interested in investor’s support. 2011 was a year of hard work for our department: it was necessary to explain the essential changes occurring in the company. The latest investor perception study showed that many investors believe in Severstal’s strategy and regard it as one of the best among the peers. We believe that it is a good ticket to success for Severstal’s development."