Metalloinvest’s Annual Report (the “Report”) has been prepared in accordance with the Federal Law On the Securities Market, Federal Law On Joint Stock Companies and Regulation On Information Disclosure by Issuers of Issue-Grade Securities. MICEX and LSE Listing Rules, the Company’s by-laws and internal procedures, GRI G4 Guidelines, including GRI G4 Metals and Mining Sector Disclosures, were also used in the preparation of the Report.
Scope and boundaries of the Report
The Report for 2016 has been prepared on the basis of the consolidated IFRS financial statements and is addressed to a diverse range of stakeholders. It covers the Company’s key financial and operating results, as well as its sustainable development performance in Russia in 2016. The information provided by the Company’s subsidiaries is aligned with the IFRS reporting boundaries. The Report is published annually covering the period from 1 January to 31 December each year. The Report includes events after the reporting date through 30 April 2017.
For the purpose of this Report, the term Metalloinvest shall include the following entities: Metalloinvest Holding Company, Metalloinvest Management Company, Lebedinsky GOK, Mikhailovsky GOK, Ural Steel, OEMK, Metalloinvestleasing and Ural Scrap Company. The members of the management team mentioned in this report are the management of Metalloinvest Management Company.
Liability of the Board of Directors
The Report contains certain projections and forward-looking statements, particularly (but not limited to) relating to anticipated demand and consumption, global economic recovery, commodity prices, management aims and objectives, strategy, production, anticipated investment and the anticipated completion of previously announced transactions. Actual results may differ from those expressed in such statements depending on a variety of factors and risks affecting the Company and / or any of its affiliates, and their respective operations.
Accuracy of information
The Report has been prepared in good faith, but has not been independently verified. The IFRS consolidated financial statements have been independently audited. Neither the Company nor its affiliates make any statements, give guarantees, assume any responsibility, explicit or implicit, regarding the reliability, accuracy, completeness or correctness of the information or opinions contained in the Report.
The Report’s material disclosures include changes in the market environment, improvements in operating efficiency, stronger investment attractiveness and development outlook, competitive working conditions, health, safety and environment, management framework, risk management, and regional development.
The Company is in the process of preparing a Corporate Social Responsibility Report to outline the key areas of its approach to sustainability issues.
The Company follows an annual reporting cycle for non-financial disclosure.As at the date of this Report, the independent auditor did not review the Corporate Social Responsibility Report, therefore data disclosed in this Report may differ from those in the Corporate Social Responsibility Report.
The Company follows an annual reporting cycle for non-financial disclosure.
Reports are available online on the Company’s website: http://www.metalloinvest.com/en/sustainability/csr-reports/