zaporizhstal (zpst) - 500 Beiträge pro Seite

[farang777]

hallo zusammen,
nach langen ankündigungen ist es nun soweit: ich habe meine erkenntnisse zu zpst in einem portrait zusammengefasst. dieses ist nun online und über die download-sektion bei http://www.emforum.de abrufbar.
wer also an diesem überaus vielverpsrechenden wert interessiert ist ist also willkommen, meine ergüsse zu seiner entscheidungsfindung zu nutzen. das auf dem em-forum ausgesagte gilt auch für hier.
gruß
farang

[Popeye]

bitte ein passwort für die pdf datei an [e-mail]

[farang777]

@popeye: per BM. Falls nicht ok, gib nochmal Bescheid!

[Popeye]

BESCHEID!!!

[zimanski]

Bitte ein Passwort für die PDF-Datei an:
[e-mail]
Vielen Dank!!

[CCR]

Hallo Farang,

kannst Du mir bitte das Passwort per Bordmail schicken.
Danke.

[farang777]

da sich die anzahl der donwloads von der anzahl der passwortanfragen nicht unwesentlich unterscheidet habe ich im bereich forum bei www.emforum.de das passwort hinterlegt.
http://www.emforum.de/modules.php?name=eBoard&file=viewthrea…
ich hoffe der link klappt.

bitte weiter um feedback...
gruß
f.

[farang777]

gewinnmeldung bei dragon: hier verlinkt
http://www.emforum.de/modules.php?name=eBoard&file=viewthrea…

[Piper28]

Seit die Aktie ins Musterdepot des Ostinvestor aufgenommen wurde hat ZPST ja schon über 100% zugelegt, wenn man den ASK-Kurse der ukrainischen Broker trauen darf ja sogar schon um ca. 180% (im Moment stehen die ASK-Kurse schon bei 0,62 US $ !!!)

Es gibt ja schon länger ADRs auf ZPST. Weiss jemand wann diese in Berlin eingeführt werden ? Oder muss man die in Berlin erst mal darauf aufmerklsam machen ?

Diese Meldung ist ja recht interessant, das dürfte für weiteren Schwung in den Kursen sorgen:


PFTS Resumes Use Of Zaporizhstal Shares In Calculating PFTS Share Index
The PFTS attributes the decision to re-include the Zaporizhstal metallurgical plant`s shares to a rise in the trading indicators of the plant`s shares. Following the return of the Zaporizhstal metallurgical
plant`s shares, the shares of 10 companies are now used to calculate the PFTS share index: Ukrtelecom, Ukrnafta, Kyivenerho, Zakhidenerho, Tsentrenerho, Styrol, Zaporizhstal, the Nyzhniodniprovskyi
pipe rolling plant, Dniproenerho, and Donbasenerho. PFTS excluded the Zaporizhstal metallurgical plant`s shares from the basket of shares used to calculate the PFTS share index because of lack of an
active market for the plant`s shares and because of an increase in the spread between bid and ask quotations for the shares.

[farang777]

das hat sicher auch mit uns zu tun, zpst gehört wieder zum pfts!
gruß
farang
quelle: mfk

PFTS Resumes Use Of Zaporizhstal Shares In Calculating PFTS Share Index The PFTS attributes the decision to re-include the Zaporizhstal metallurgical plant`s shares to a rise in the trading indicators of the plant`s shares. Following the return of the Zaporizhstal metallurgical plant`s shares, the shares of 10 companies are now used to calculate the PFTS share index: Ukrtelecom, Ukrnafta, Kyivenerho, Zakhidenerho, Tsentrenerho, Styrol, Zaporizhstal, the Nyzhniodniprovskyi pipe rolling plant, Dniproenerho, and Donbasenerho. PFTS excluded the Zaporizhstal metallurgical plant`s shares from the basket of shares used to calculate the PFTS share index because of lack of an active market for the plant`s shares and because of an increase in the spread between bid and ask quotations for the shares.

[farang777]

dragon daily heute. azst ist auf expansion, zpst aber stabil trotz rohstoffproblemen. 2004 wird ein fest für dir ukrainischen schmelzer...


In 4M04 Ukrainian metallurgical plants increased steel production by 11% y-o-y, to 12.8
mil. tonnes, and raised pig iron output by 9% y-o-y, to 7.9 mil. tonnes. (Metal Ukrainy)
As expected, the industry’s pace of growth started to slow down due to raw material
shortages. In April pig iron output declined by 8% m-o-m, to 2.5 mil. tonnes (up 2%
y-o-y). Still, strong foreign demand and high steel prices continue to drive domestic
steel production. Kryvorizhstal remained the market leader in 4M04 with steel
output of 2.5 mil. tonnes (19.4% market share) and pig iron production of 2.2 mil.
tonnes (20.9%). Azovstal was the growth leader in 4M04, reporting steel and pig iron
output growth of 27% and 29% y-o-y, to 2.0 mil. tonnes and 1.6 mil. tonnes
respectively. Due to lack of coke, several plants (Zaporizhstal, Mariupol (Illicha) and
Dzerzhynsky) had to cut pig iron production in April. For more details please see
the table below.

Zaporizhstal 1,451 0.5% Zaporizhstal 1,075 (2.1%)

links stahl, rechts roheisen, je 4 monate und veränderung zum vorjahreszeitraum.

gruß
f.

[farang777]

in der kürze: news zu meinem favoriten!! hier von dragon:
Zaporizhstal reports strong 1Q04 results. Zaporizhstal posted 1Q04
net sales of USD 268 mil. (up 20% y-o-y), EBITDA of USD 64 mil.
(down 9%), EBIT of USD 57 mil. (down 11%) and NI of USD 40 mil.
(down 7%). The sales grew on the back of a 2% y-o-y rise in steel
output, to 1.1 mil. tonnes, and about 17% growth in the sale price of
steel, to USD 245/tonne (up from USD 204/tonne for the whole of
2003). As input costs grew faster than sales (up 42% y-o-y, to USD
177 mil.), Zaporizhstal’s EBITDA margin declined by 8 p.p. y-o-y, to
23.8%, EBIT margin fell 7 p.p., to 21.2%, and net margin totaled
14.9% (down 4 p.p.). Although the 1Q04 margins are weaker
compared with 1Q03, they improved over full-year 2003 results,
when Zaporizhstal posted sales of USD 886 mil. (up 41% y-o-y) and
EBITDA, operating, and net margins of 23.3%, 20.1% and 13.5%
respectively. The reported 1Q04 margins are slightly above our
forecast for 2004 as we expected the average steel sale price at USD
224/tonne (down 9% compared with the actual 1Q04 figure). In
2004 we expect Zaporizhstal to produce 4.4 mil. tonnes of steel and
post sales of USD 994 mil., EBITDA of USD 216 mil. and NI of USD
141 mil. The figures imply 2004E EBITDA, EBIT and net margins of
21.7%, 18.9% and 14.2% respectively. Based on 2004E multiples,
Zaporizhstal trades at an average discount of 56% to its Russian
peers. We rate the stock as a Buy. (Company)

und hier von mfk, was die schon vor einigen tagen von dragon veröffentlichten informationen bestätigt:
Zaporizhstal Ends 2003 With Profits Of USD 120 Million In 2003,
the plant increased net incomes by 40.7% compared with 2002 million to USD 887million. Zaporizhstal specializes in production of hot and cold-rolled sheets and coils, as well as steel strip and tin plate. The plant increased production of rolled products by 11.5% to 3,624,700 tons in 2003 compared with 2002.The insurance company Zakhid-Reserv owns 28.49% of the plant`s shares, whereas 22.58% of shares belong to Weybridge Company Inc and Mawerton Limited has 22.36% of shares.

achtung: widersprüchliche aussagen zur gesellschafterstruktur!

gruß
f.

[farang777]

yiha! wir haben einen benchmark: severstal hat für kryvorizhstal geboten und was die daraus abgeleiteten multiplikatoren betrifft, so hat zpst noch immer einiges aufzuholen! ich kann mir diesmal ausnahmsweise nicht verkneifen, dragons details zu posten, was ich eigentlich sonst nicht mache, aber die schlüsse hätte ich sonst eh auf deutsch nachgeschrieben und so gehts einfach schneller.

The SPF has disclosed the names of all the six bidders for Kryvorizhstal’s 93.02% stake. In
addition to two local consortiums (Industrial Group and SCM/Interpipe) and Russia’s
Severstal (with Arcelor), the list also includes Russia’s Nizhniy Tagil Steel Mill
(representing Euraz holding), consortium Ispat Vuhillya (representing LNM Group, U.S.
Steel, Ispat Karmet and Ispat Polska Stal) and unknown local company Partner Ltd.
(Interfax)
Based on the qualification requirements (namely a three-year track record of
production and sales of at least 1 mil. tonnes of Ukrainian coke annually), we expect
the Interpipe/SCM consortium to win the tender, as Industrial Group is most
probably acting as a nominal rival. At the same time, Severstal said it offered USD 1.2
bil. for the Kryvorizhstal stake, which is 68% above the starting price (USD 715 mil.)
and should significantly exceed the price that we expect to be offered by the local
bidders. If the SPF awards Kryvorizhstal to a local group with a smaller bid, Severstal,
based on its earlier statements, may protest the tender in international courts.
Severstal‘s bid values Kryvorizhstal at USD 1.3 bil., which implies very attractive 2003
ratios: P/E of 7.9, EV/EBITDA of 4.0, EV/Sales of 1.0 and EV/Output of USD
192/tonne. Based on these multiples and accounting for a 30% control premium, two
other Ukrainian steel mills, Azovstal and Zaporizhstal, should be valued at USD 570
mil. and USD 670 mil. respectively. This implies a 70% premium to Zaporizhstal’s
current market price, which means the stock is deeply undervalued, and a 5% discount
to Azovstal’s market price, which means the stock is fairly valued/slightly overpriced.

cheerz!
f.

[farang777]

natürlich ist enttäuschend, dass sich politische kräfte durchgesetzt haben. was die nicht ukrainischen interessenten geboten haben kann trotzdem als benchmark gelten, war es doch bis zuletzt nicht ausgeschlossen, dass man aufgrund des höheren angebots doch zum zuge kommt:

leider hat dragon nun sein pdf kopiergeschützt, so dass man texte nun nicht mehr pasten kann. das wichtigste schnell zusammengefasst, interfax sollte es auch auf dem ticker haben:
investment metallurgical union (scm und interpipe) zahlt 800 mio usd, 12% über dem mindestpreis. dies liegt 33% unterhalb des angebots von severstal und arcelor sowie 47% unter dem von u.s.steel und lnm Group.

gruß
f.

[farang777]

aus kinto eine übersicht der handelsvolumina von zpst. man kann gut sehen, dass sich die wesentlichen umsätze auf einem schönen niveau stabilisieren. m.e. kann es von da aus noch ganz gut weitergehen.
gruß
f.


15-Sep-2004 0.48 155,085

13-Sep-2004 0.49 375,566

10-Sep-2004 0.50 653,908

07-Sep-2004 0.48 65,000

03-Sep-2004 0.48 100,000

31-Aug-2004 0.49 311,405

30-Aug-2004 0.47 129,000

26-Aug-2004 0.25 24,000

21-Aug-2004 0.44 370,000

20-Aug-2004 0.43 100,000

19-Aug-2004 0.45 327,211

18-Aug-2004 0.45 199,999

17-Aug-2004 0.42 69,000

13-Aug-2004 0.45 126,000

09-Aug-2004 0.44 174,400

30-Jul-2004 0.44 200,000

28-Jul-2004 0.44 180,000

27-Jul-2004 0.45 604,309

26-Jul-2004 0.44 70,000

19-Jul-2004 0.34 100,000

16-Jul-2004 0.44 50,000

14-Jul-2004 0.44 263,029

09-Jul-2004 0.43 169,100

07-Jul-2004 0.39 30,000

06-Jul-2004 0.23 40,000

05-Jul-2004 0.28 34,500

02-Jul-2004 0.23 3,612

01-Jul-2004 0.44 50,000

30-Jun-2004 0.46 32,000

25-Jun-2004 0.44 56,100

18-Jun-2004 0.44 115,030

17-Jun-2004 0.43 114,309

14-Jun-2004 0.42 20,500

09-Jun-2004 0.45 55,000

04-Jun-2004 0.27 96,200

20-May-2004 0.45 70,000

19-May-2004 0.45 219,143

18-May-2004 0.23 15,000

11-May-2004 0.45 20,000

28-Apr-2004 0.19 103,800

26-Apr-2004 0.27 58,311

08-Apr-2004 0.23 50,000

19-Mar-2004 0.16 19,478,477

16-Mar-2004 0.12 70,700

03-Mar-2004 0.062 16,298

13-Jan-2004 0.069 334,000

22-Oct-2003 0.062 70,000

[Infocatcher]

Ich kann nicht glauben dass ZPST so billig zu haben ist. Wenn ich mir Zahlen von Dragon, Foyil und Ostinvestor vergleiche erkenne ich zwar einige (aber unerhebliche angesichts DIESER Unterbewertung) Unterschiede, aber dennoch liegt das 2004er KGV so zwischn 2 und 3. Das Unternehmen hat faktisch Null Schulden und finanziert alle Erneuerungen aus der Portokoasse bzw. dem freien Cashflow.

Irgendwas kann da nicht stimmen wenn die Aktie so billig ist.

Ich war aber selber garde noch mal "einkaufen". Hoffe es wird kein Rohrkrepierer, aber an sich vertraue ich auf die guten Zahlen. Und so ganz umsonst hat der Ostionvestor das Papier ja auch nicht iom Musztderdepot, denke ich mal.

Oder ??

Ein Traum ??
Oder ein Traum der bald platzt und zum Albtraum wird ??

[chientano]

Shareholders of the Zaporizhstal metallurgical plant passed a decision at their meeting on September 15 to create a non-state corporate pension fund and to name it Metallurgist. The fund will be created under the program on additional pension funding; its objective is to guarantee that employees of the plant receive additional non-state pensions. Zaporizhstal ended 2003 with net profits of USD 120.38 mn and increased net revenues by 40.7% yoy to USD 890.03 mn.



On September 15 meeting, the shareholders of the Zaporizhstal metallurgical plant took the decision to pay USD 2.407 mn of dividends out of net profits for 2003. In particular, the shareholders decided to pay 1.52 kopeck of dividends per share with a nominal value of USD 0.047, or 2% of Zaporizhstal`s net profits for 2003. The shareholders decided to direct 98% of net profits to technical reconstruction and modernization of production and replenishment of floating assets. MFK Comment: Recent AGM confirmed the decision of the previous shareholders’ meeting to pay dividends in the amount of 2% of net profit. Due to favorable market conditions in 2003, ZPST finished previous year having increased net income by 131% y-o-y. This positively reflected on the dividends per share, which rose from 0.11 cents in 2002 to 0.29 cents in 2003. Dividend yield for 2003 amounted to 0.6%. ZPST did not pay dividends for 2000-01.



mfg chientano

[farang777]

da die automobilindustrie weltweit unter margendruck leidet, werden einsparungen im materialbereich sicherlich genau auf die fertigstellung der neuen rolled-einrichtungen von zpst treffen. für zpst entstehen hier riesige chancen angesichts deren niedrigen verkaufspreisen.
lest selbst die meldungen von der zpst website.
gruß
f.

14.09.2004
Co-operation of metallurgists and automobile producers gets stronger



At CJSC “AvtoZAZ” a press-conference of the management of corporation “Ukravto” and Zaporizhstal JSC took place within the framework of a guest meeting of Autojournalist Club members. The topic was co-operation of the two largest enterprises of the region.

At present about 600 enterprises of Ukraine, 212 of which are located in the Zaporozhye region, are suppliers of CJSC “AvtoZAZ”. One of the oldest and most reliable partners is Zaporizhstal JSC, which, according to its Technical Director, Alexander Putnoki, from year to year widens its range of products and volumes of supplied metal to the automobile enterprise. Apart from that reconstruction of the rolling production at Zaporizhstal JSC is under way, after which it will be able to produce high-quality automobile sheets corresponding to the requirements of domestic and foreign automobile industry. This meeting showed that the countrymen-automobile manufacturers highly value the contribution of Zaporizhstal workers to general constituent development of the industry, and also hope that in the future the established ties will become yet stronger and fruitful.

10.08.2004
“General Мotors» has decided to get to bring the Ukrainian suppliers to take part in joint business.



The "Day of the supplier “GM-Fiat in Ukraine”, organized for the first time in our country by the company GM Worldwide Purchasing (WWP), which is an international purchase department of «General Мotors», took place in Zaporozhye.



The western guests emphasized the primary aim of the event as determination of possibilities and optimum ways of integration of the Ukrainian producers of automobile parts into the Global network of supplies of GM-Fiat Worldwide.

From the Ukrainian side the Minister of Industrial Policy, Alexander Neystroev, the Honorary President of the corporation “Ukravto”, Chairman of the Supervisory Council of “ZAZ”, Тariel Вasadze, officials of the city and the region, representatives of Zaporizhstal JSC and also 32 enterprises of Ukraine, were present at the forum.

The Sales and Foreign Trade Activities Director, V.M. Litvin, had negotiations with Mariush Napiorkovsky and Мanfred Schoenleber, who informed about the quality and characteristics requirements of purchased rolled products.

“Preliminary bilateral work has begun. We must know the requirements of such a large corporate customer, a leader of world automobile industry, and meet all these requirements. This is particularly important for the Works in the light of the Works’ program regarding production of high-quality automobile sheets,”- summed up the meeting V.M. Litvin.

[farang777]

und noch eins: die leute dort sind wirklich aktiv, zumindest erhalte ich den eindruck... net income unten soll wohl revenue oder turnover sein...
gruß
f.

Interfax News Agency
Ukraine Business Report

August 31, 2004, Tuesday
ZAPORIZHSTAL SAVES UAH42.6 M BY CUTTING STUFF AND ENERGY CONSUMPTION
IN H1
In January-June Zaporizhia Metallurgical Mill Zaporizhstal saved UAH42.6
million through reduction of raw stuff and fuel and energy consumption
in comparison with the norms set at the enterprise.
The press service reported that in H1 the Mill saved raw stuff and basic
materials to the sum of UAH25.9 million, fuel and energy resources to
the sum of UAH12.2 million, additional materials to the sum of UAH4.5
million.
Innovations, rational proposals and licenses brought an economic effect
of UAH37.6 million.
" Every hryvnia of net income brought 23 kopecks of gross profit against
the obligation of 10 kopecks set in the collective agreement," the press
release says.
In January-June Zaporizhstal produced side products, consumer goods and
services above the obligation under the collective agreement to the sum
of UAH26.9 million. The Mill has notably exceeded the production plan:
it made 100,500 tonnes of cast iron and 187,400 tonnes of steel above
the plan, and 150,400 tonnes of rolled stock.
In H1 it executed all the planned social measures.
As reported earlier, in January-June the Mill increased production of
steel by 1.9% in comparison with the same period of the past year- to
2.196 million tonnes, cast iron- by 0.1% to 1.625 million tonnes, but
cut production of rolled stock- by 2.8% to 1.742 million tonnes, sinter
cake- by 2.8% to 2.581 million tonnes.
The open-end JSC Zaporizhstal is one of Ukraine`s biggest metallurgical
enterprises. It produces hot- and cold-rolled flat sheet (0.5-7mm) from
carbonaceous, low-alloyed, alloyed and stainless steel.

[farang777]

neben der bekannten dividendenankündigung noch forecasts für die umsätze im lfd. jahr.
aus dragon daily.
gruß
f.

Zaporizhstal approves 2003 dividend payout. The AGM of
Zaporizhstal approved a USD 2.3 mil. dividend payout, which
corresponds to DPS of USD 0.0028 and a dividend yield of
0.6%. The approved DPS came in 33% above our expectation
and 157% above Zaporizhstal’s 2002 dividends. Additionally,
in 2004 Zaporizhstal plans to produce 4.2 mil. tonnes of steel
(down 2.4% y-o-y and down 4.3% compared with our forecast),
3.2 mil. tonnes of pig iron (down 1.1% y-o-y and 2.1
respectively) and 3.6 mil. tonnes of finished steel products
(down 1.6% y-o-y and 3.5% respectively). However, despite the
marginal decline in output volumes, strong metal prices should
bring Zaporizhstal’s 2004 sales up 26% y-o-y, to USD 1.1 bil.
(Interfax)

[zarewitch]

hallo!
wie sieht hier der langfristchart aus? und was ist mit dem kgv??

kann mich nicht bei stahl zwischen severstal und zaporozh entscheiden.

[farang777]

kgv von zpst liegt für 2004e etwa bei 2,5. die russische peer mit severstal, mmk, nlmk und ntml liegt bei durchschnittlich 4.

lfr. charts sind hier nicht sinnvoll. erstens mangels liquidität, zweitens mangels verfügbarkeit, drittens mangels unsinniger quotes-stellung seitens der informationsanbieter. wenn du mehr wissen willst, schau dir die fundamentals an. für zpst: siehe meinen ersten post in diesem thread. für severstal weiß ich gerade nix...

gruß
f.

[zarewitch]

danke farang!

was mich noch interesiert, welchen Euro-Kurs kann man für ende 2003 zu Grunde nehmen?
dann kann man die Studie auch besser einschätzen..

[andichan]

Hallo farang,

habe leider Probleme, dein pdf-File von emforum downzuloaden.

Kannst du etwas dazu sagen, woher zaporizhstal seine Rohstoffe herkommt, und ob die Versorgung sichergestellt ist ?

Für Severstal spricht m.E. die eigene Rohstoffbasis und eine Dividendenrendite >7%

Wenn man die Äusserungen der letzten Tage von Thyssen, Severstal etc. anhört, scheint sich in der Branche bald das Fusionskarussell zu drehen. Wäre zaporizhstal von der Eigentümerstruktur her als Übernahmekandidat denkbar ?

Besten Dank für deine Recherchearbeit.

[farang777]

hi andichan,

kann dir leider nur einen bericht liefern, der die lieferanten nennt. zpst ist nur z.t. rückwärtsintegriert, insofern ein malus verglichen zu severstal.

hast du mal nach durchschnitts-verkaufspreisen bei severstal geschaut?

gruß
f.

ZAPORIZHSTAL RAISES READY-MADE ROLLED STOCK OUTPUT BY 14.3% IN 7
MONTHS
In January-July, the Zaporizhia metallurgical mill Zaporizhstal
increased ready-made rolled stock production, under preliminary
information, by 14.3% compared to the same period in 2003.
Rolled stock production was 2.049 million tonnes, steel was by 2% to
2.577 million tonnes, cast iron by 0.7% to 1.913 million tonnes, but cut
production of sinter cake by 1.9% to 3.059 million tonnes.
In July, Zaporizhstal made 307,000 tonnes of ready-made rolled stock,
380,000 tonnes of steel, 287,000 tonnes of cast iron and 478,000 tonnes
of sinter cake, a source at the enterprise told Interfax-Ukraine.
According to the source, in January-July the Zaporizhia iron ore mill
supplied to Zaporizhstal 548,100 tonnes of sinter cake (the target being
700,000 tonnes), Inhulets ore mining and dressing mill produced 2.064
million tonnes of iron ore concentrate (2.12 million tonnes), Pivnichny
ore mining and dressing mill output 282,800 tonnes of pellets (40,000
tonnes), and Poltava ore mining and dressing mill produced 10,600 tonnes
of pellets (360,000 tonnes). Pivdenny ore mining and dressing mill did
not supply iron ore concentrate to Zaporizhstal (the target being
240,000 tonnes).
In July, Zaporizhia iron ore mill delivered to Zaporizhstal 73,100
tonnes of sinter cake (100,000 tonnes). It sent Inhulets ore mining and
dressing mill 277,200 tonnes of iron ore concentrate (260,000 tonnes).
Pivnichny ore mining and dressing mill supplied 20,100 tonnes of pellets
(40,000). Poltava ore mining and dressing mill did not supply pellets to
the enterprise (the target plan being 50,000 tonnes).
In July, Zaporizhstal received 43,500 tonnes of scrap metal, against the
calculated requirement of 76,800 tonnes (56.6% of the necessary amount).
At the same time, on August 1 scrap metal stores at the enterprise were
15,100 tonnes.
In its press release, Zaporizhstal says that in 2004 it is going to set
aside more than UAH 800 million for technical upgrading of the
enterprise and development of social infrastructure.
The open-end JSC Zaporizhstal is one of Ukraine`s biggest metallurgical
companies. It manufactures 0.5-7.0 mm-wide hot- and cold-rolled flat
carbon, low-alloy, alloyed and stainless steel.

[andichan]

Hallo Farang,

Ich denke, ein Durchschnittswert sagt nicht viel aus,da der Produktmix ja viel ausmacht. Severstal hat 2003 eine Kapazität von 11Mio t Rohstahl und 8,8Mio t "rolled product", also einen doch recht hochwertigen Produktmix.

An aktuellen Preisen habe ich nur die Information, daß im August 04 die Preise in der CIS und West-Europa weiter gestiegen und bei 585$ für "hot rolled coil" gleichgezogen sind, wobei die Preise für hot/cold rolled sheet/coil ja nicht ganz so weit auseinander liegen. Im September hat es dann noch die Meldung bei rbcnews.com gegeben, dass die russischen Hersteller die Preise im Inland um 10-15% ab Oktober erhöhen.

[andichan]

wobei man noch sagen muss, dass Severstal die Preise großteils quartalsweise festsetzt, und nicht zu den genannten Spot-Preisen verkauft, bei stark steigenden Preisen also nicht ganz so schnell die Verkaufspreise nachziehen kann.

[farang777]

china scheint noch nicht genug stahl selbst zu produzieren. zpst wird wohl nächstes jahr hervorragende zahlen liefern können....

gruß
f.
quelle: dragon daily heute
China lifts antidumping duty on Zaporizhstal steel. China’s
ambassador to Ukraine has paid a visit to Zaporizhstal to urge
the company’s management to increase exports to his country.
The visit came shortly after the Chinese Trade Ministry lifted a
49% antidumping duty on Zaporizhstal’s cold rolled steel
which had been imposed in January following complaints from
Chinese producers and WTO recommendations. The removal
of restrictions in trade with the world’s largest steel consumer
is very positive news for Zaporizhstal as China accounted for
more than 23% of the company’s exports and 16% of its total
steel output in 2003. (Interfax)

[marly]

detail aus der kiyvpost zu zpst.

der gesamtbericht im thread ukraine für samstinvestors



On Nov. 27, Vitaly Satsky, chairman of Zaporizhya-based steel-mill Zaporizhstal, which is controlled by a Russian business group, expressed his opposition to separatist movements and called upon political leaders to find a solution fast.

“I am against all who are behind efforts to split our homeland,” Interfax-Ukraine quoted Satsky as saying. “It is categorically not acceptable to allow this.

These [divisions] are being synthetically created,” he added.

Parliament deputy Volodymyr Boyko, who also serves as chairman of the Illich Metallurgical Plant in Mariupol, Donetsk oblast, chastised the separatists.

“Ukraine should be united,” Interfax-Ukraine quoted Boyko as saying.

The Donetsk-based Donbas Industrial Union told Interfax-Ukraine that it was not involved in the political chaos in the country.

[marly]

hallo, in den threat ukraine für smart investor habe ich einen artikel aus der welt eingestellt, der auch zpst erwähnt.

schön, dass eine pberregionale tageszeitung auch einmal bewußtseinsbildung für ua-aktien betreibt.

gruß, marly

[farang777]

hi marly,
danke für deine unterstützung!! du hattest mir anscheinend auch auf eine boardmail geantwortet, diese antwort enthielt leider keinen text. an anderer stelle hast du dich über die probleme mit dem boardmail system geäußert. falls da noch was war, gib mir bescheid.
gruß
f. (heute aus dem urlaub zurück)

[farang777]

z.zt. steigen die nachfragemengen nach azst stark an, damit auch die kurse. der enorme nachfrageüberhang bei zpst ist dagegen eher gleichbleibend, jedoch größer.
azst ist nun etwa doppelt so hoch kapitalisiert wie zpst. diese wertdifferenz ist letztlich nur auf basis der kapazitäten der unternehmen gerechtfertigt. was proftiabilität, cashflow oder absatz anbelangt, ist azst den zpst nun vorausgeeilt.
übrigens sind beide unternehmen stark am investieren und das aus gutem grund. wenn man sich ansieht, was die rohstoffanalysten zur stahlpreisentwicklung sagen, so bekommt man den eindruck, dass der preisanstieg möglicherweise noch nicht am ende ist. überdies scheint der stahlhunger chinas immer noch groß und nicht durch eigenerzeugung deckbar zu sein. drawbacks sind nach wie vor die engpässe bei eisenerz und schrott, die azst und zpst für die produktion brauchen. bislang waren die stahlerzeuger jedoch sehr gut in der lage, preiserhöhungen mit profit durchzureichen.
ukrainische stahlwerte sind m.e. nach wie vor eine hervorragende anlage, auch wenn die bewertung nun nicht mehr unerhört billig, aber nach wie vor günstig ist.
gruß
f.
übrigens: hat jemand in eine der erzminen investieren können?


December 22, 2004

ZAPORIZHSTAL BUILDS UP CAPACITIES FOR PRODUCING METALS

Reconstructed blast furnace No. 2 of the open joint-stock company ZaporizhStal has a capacity to produce 3,000 tons of high-quality cast iron per day and 1.15 million tons a year that is 98,000 tons more than furnace No. 3, which was modernized in 2000.

Managers of the company estimated highly the furnace and the pace of carrying out a program for the modernization of production at the enterprise. At present, furnace No. 2 is seen as the best structure in the metallurgical complex of Ukraine, given that it was the first to be reconstructed in accordance with high technologies.

Furnace No. 2 had been built by the general contractor ZaporizhStalBud-1 since January 2003, together with nearly 20 assembly and tune-up companies. Equipment and conduits were delivered by 75 enterprises of Ukraine, Russia, the Czech Republic and other countries. By rough estimate construction cost 350 million hryvnias.

"Construction of the converter complex in two stages and reconstruction of the hot-rolled stock shop will be the next phase of the modernization of production," said Vitaly Satsky, chairman of ZaporizhStal, adding that work on a transfer to continuous casting would be finished by 2010.

December 14, 2004, Tuesday

NO REASON TO INCREASE PRICES FOR IRON ORE IN UKRAINE, SAYS DUBYNA
Recent price hikes for iron ore by mining and dressing mills have no
economic justification, President of the national JSC Energy Company of
Ukraine Oleh Dubyna said at a press conference in Kyiv on Monday.
"Today there have been no increases of prices for electricity and gas.
[Prices] remain constant : and there are no grounds for an increase in
the price of iron ore," he said.
He added that the resolution of the growing conflict between producers
and consumers of iron ore should be mediated by the Economy Ministry and
the Cabinet of Ministers.
"In order to stabilize this market, and not to lose the production
levels reached in 2004, the Cabinet of Ministers has to take some rather
harsh decisions today," Dubyna said.
He said one measure could be for the government to set prices in the
domestic market.
As reported earlier, as of December 1, 2004, a number of ore mining
enterprises suddenly increased prices for their output, which resulted
in a cut in metal production at Mariupol Illich Metallurgical Mill,
Alchevsk Metallurgical Mill, Dniprovsky Dzerzhynsky Metallurgical Mill
and Zaporizhstal, and the shutting down of blast furnaces at some of
these enterprises.

[Robert_Kaufrausch]

Foyil zu Azovstal:

Having doubled in price in the past two months, Azovstal is now traded at a 72%
premium to its peers based on a 2005 P/E. We think that the Company does not deserve
such a high premium in the light of its abuse of transfer-pricing. In 2003 Azovstal reported
a net income of UAH 256m, which was almost three times lower than that of Zaporizhstal,
whose rolled-steel output was 25% lower than Azovstal’s. Even if Azovstal starts phasing
out its transfer-pricing schemes in 2005, we doubt it can raise its 2005 profit by more than
28% y-o-y, which is already factored into our model. Furthermore, using the transferpricing
at the cost side, Azovstal has little leverage to raise its prices. This implies that its
current EV/Sales of 1.0 and P/Sales of 0.94 will have little room for improvement. Taking
into account all the above, we downgrade Azovstal from HOLD to SELL.

Gruß
eRobert

[Diego2]

was ist Euer Kursziel zum Ende des Jahres ?
Ab wann sollte man Gewinne mitnehmen ?

[Diego2]

heute + 11,90 % !

[farang777]

hallo, anbei zwei rel. aktuelle meldungen. darin: KUV von 0,73 per 2004. wir sind noch nicht am ende, zpst wird weiter laufen.
gruß
f.

January 27, 2005, Thursday




300 MLN EURONOTE ISSUE$
ZAPORIZHSTAL IN $300 MLN EURONOTE ISSUE
KYIV. (Interfax)- Ukrainian steel major Zaporizhstal is planning
to issue euronotes worth $300 million in late April to finance the
construction of a converter division which will produce 2 million tonnes
of steel annually, Oleksandr Rabtsun, Zaporizhstal`s financial director,
said at an investment conference in Kyiv on January 20.
Rabtsun said yield on the notes would be "within 10% annually,"
that Deutsche Bank and JP Morgan would be hired to organize the issue
and that the notes would be placed on the markets of Southeast Asia,
Europe and the United States.
Zaporizhstal boosted sales by 49% in 2004 to 6.725 billion hryvni,
and commercial output grew 4% to 3.7 million tonnes. Zaporizhstal`s
market capitalization according to its PFTS quotation on January 20 was
estimated at 4.92 billion hryvni. Over the past year, the price of the
company`s stocks soared more than six-fold.



ZAPORIZHSTAL ATTRACTS POTENTIAL INDIAN INVESTORS

ZAPORIZHSTAL ATTRACTS POTENTIAL INDIAN INVESTORS
KYIV. (Interfax)- Indian companies are interested in investing in
Zaporizhstal, one of Ukraine`s largest metals companies, as well as
buying the company`s products for India.
There were exchanges of information as to supply and demand for the
company`s products and intentions for examining export size and variety
during an Ukrainian-Indian business forum in New Delhi January 18-21,
Zaporizhstal`s Deputy Financial Director Yuriy Kozakevich told Interfax
on January 24 in comments on talks between his and Indian companies
during the event.
Some Indian companies made investment offers for the company to
look over in the near future, as well as proposals on setting up a joint
enterprise with Zaporizhstal, Kozakevich said.
Zaporizhstal is prepared to raise investment money with long-term
loans for plant reconstruction work, he said, and needs more than 900
million hryvni.

February 10, 2005

[Diego2]

Farang,

ein KUV unter 1 belegt eine Unterbewertung der Aktie, an 2 von Überbewertung.

Allerdings hat Salzgitter ein KUV von ca. 0,20 und wäre damit und der voraussichtlichen Dividende von 5% wesentlich billiger. Ich hätte gedacht, dass Zaporisthal noch weit günstiger wäre.

Verkauft ZPST wie Ukrnafta seine Produkte in der Ukraine auch unter Weltmarktpreis ?

diego

[farang777]

diego: ja, schau mal in mein portrait. da sind große unterschiede. letztlich ist ja das kuv alleine nicht sonderlich aussagekräftig. letztlich konnte man die zahl aus den daten der einen meldung ablesen. ich finde kennzahlen wie kcfv oder ev/ebitda für intercompany-vergleiche wesentlich sinnvoller.
gruß
f.

[andichan]

Farang, du hast BM von mir.

[kovac]

Was ist los? Ich hoffe, Aktiensplit... Nirgendwo brauchbare Infos zu finden, 70% Kurssturz scheint auch hier im Thread keinen mehr zu interessieren...

[farang777]

kovac:
ja, schau www.emforum.de
dort hat es jemand bestätigt.
gruß
f.

[kovac]

@farang
Danke für den Link!
Gruss
Kovac

[Breedy]

[posting]16.280.057 von kovac am 01.04.05 21:51:26[/posting]Nehme an Du hast Aufklärung bzgl. Absturz der Zaporizhstal GDRs erhalten?! Habe selber einige und finde ebenfalls nichts - neulich beim Split Centrenergo (heute leider knapp -10%)wurde das von meiner Bank wenigstens berücksichtigt, jetzt nicht - also kein Split bei Zaporizhstal?

[Diego2]

doch, auch bei Zaporisthal 1 : 4 Split.

mittlerweile bei mir verspätet eingebucht worden.

[Breedy]

[posting]16.290.453 von Diego2 am 04.04.05 15:07:54[/posting]Danke für die Info! Werde der Bank mal bischen Druck machen...

[Diego2]

übrigens bekommst Du pro alte GDR 4 neue, das hat meine Bank mittlerweile richtig gestellt = fünfmal so viele wie zuvor.

[farang777]

ZAPORIZHSTAL TO RAISE METAL PRICES 10%
KYIV. (Interfax)- Zaporizhstal will put its steel prices up 10% on
April 1 in connection with expected rail freight tariff hikes, the
Ukrainian steel major`s press office said on March 22.
Urkzaliznytsiya, the national rail operator, plans to raise tariffs
to transport coke 220% and iron ore pellets, concentrate and ore 180%
following an initiative by the Transport and Communications Ministry.
Zaporizhstal calculates its monthly outlay on freight will go up
27.6 million hryvni and that it would have to put its prices up 12.5% to
cover those costs.
"But considering that we sell to machine-building plants, pipe
mills, rolling stock manufacturers, farm machinery builders and
producers of household appliances, which will have to pay double for
metal shipments by rail, we are limiting our own price hike to 10%," the
steel mill said.
Zaporizhstal predicts further increases in tariffs for raw
materials and energy. "At a rough guess our monthly expenditures will
rise by 50 million hryvni. Raw material costs have gone up 30%-100% in
the last few months as it is. And we will be paying 12.5 million hryvni
less profit tax [remittances will halve] per month because of this," the
company said.
Zaporizhstal said the additional costs could put its modernization
program in jeopardy and stop it from honoring social commitments.
The company raised pretax profit 9.9% to 1.04 billion hryvni in
2004 but is only anticipating 605 million hryvni in 2005 due to the
higher rail, raw material and energy costs.


&, wie im emforum von chientano mitgeteilt:

Zapirozhstal April 6 AGM Results (ZPST – Buy):

In 2005, Zapirozhstal will produce 3.65 mn mt of pig iron (compared with 3.35 mn mt in 2004), 4.47 mn mt of crude steel (compared with 4.45 mn mt in 2004) and 3.63 mn mt of rolled steel (compared with 3.56 mn mt in 2004).
The company will pay 2% of net income as 2004 dividends. Payment is scheduled for June 1, 2005, until June 1, 2006. The Ex-dividend date is June 1, 2005.
The current chairman Vitaly Satsky was re-elected for five more years.


• ZPST increases steel output by 2% in Jan-Feb. 2005
• ZPST will pay 2% dividends on its 2004 profits
• ZPST plans its 2005 Net Income at USD 116.0mn


gruß
f.