Smorgon Essay

2009 words - 8 pages

Executive Summary2Statement of Financial Performance of Smorgon Steel at Various years3Balance Sheet of Smorgon Steel Group as at various years4Cash Flow Statement of Smorgon Steel as at various reporting years5Ratio Analysis of Smorgon Steel at various reporting years6Theoretical and technical Analysis7Weighted Average Cost of Capital8Cash Assets Pricing Model9Conclusions and Recommendations11Reference:12Executive SummaryThe rapid rise of Smorgon Steel to become the nation's most vertically integrated steel producer is one of the most impressive achievements in Australian industry.The company subsequently acquired ANI in 1999, Metalcorp Limited in 2000 and Email Limited, jointly with One Steel, in 2001. These acquisitions have been accompanied by a successful program of divesting non-core businesses.Today, Smorgon Steel stands as a major force in the steel industry and a key contributor to the Australian economy.Smorgon Steel also places great importance on research and product development, including sourcing technology from overseas, and is fully ISO 9002 accredited. The company has a long history of supplying steel to Australia's major infrastructure projects, from the Snowy Mountains hydroelectric scheme to the Sydney Olympic Stadium, and is proud of this role in the Australian economy.Smorgon Steel is committed to producing quality products and services, providing value for customers, maximizing returns for its shareholders and providing employees with rewarding careers.We analyze the company's detailed financial status in this report. Technical analysis like CAPM, WACC, and Beta, Risk management, Share valuation, market risk premium and other analysis are undertaken together with.The Smorgon Way has been documented to ensure there is no mystery as to the Smorgon values and management style. These values are all about openness, honesty, group decision making, commitment and a drive for continuous improvement. The Company's way of doing things is characterized by energy, drive and a sense of urgency.Statement of Financial Performance of Smorgon Steel at Various yearsSTATEMENT OF FINANCIAL PERFORMANCEParticulars200620052004$ '000$ '000$ '000CONSOLIDATEDSales revenueSale of goods 3,200,3932,982,0942,623,007Cost of sales -2,418,123-2,228,153-1,970,304Gross profit 782,270753,941652,703Other income 6,2401,86787,720Distribution expenses -220,531-210,822-190,557Marketing expenses-90,886-108,196-93,957Occupancy expenses -25,094-23,934-21,727Administration expenses -184,474-212,507-165,608Other expenses-3,536-1,300-93,997Gross profit Less Expenses263,989199,049174,577Share of net profit of joint venture entity accounted for using the equity method 2588909Results from operating activities 263,989201,637175,486Amotisation of good will---57,854Financial income 2,992597-Financial expenses-77,422-45,266-43,532Net Financing costs 2006/2005 or Other than operating expenses-74,430-44,669-101,386Profit before income tax 189,559156,96874,100Income tax expense...

Find Another Essay On Smorgon

Enlightenment Thought in New Zealand Schools

1594 words - 6 pages In this essay I will be looking at how the political and intellectual ideas of the enlightenment have shaped New Zealand Education. I will also be discussing the perennial tension of local control versus central control of education, and how this has been affected by the political and intellectual ideas of the enlightenment. The enlightenment was an intellectual movement, which beginnings of were marked by the Glorious Revolution in Britain

Psychological Egoism Theory Essay

2240 words - 9 pages The theory of psychological egoism is indeed plausible. The meaning of plausible in the context of this paper refers to the validity or the conceivability of the theory in question, to explain the nature and motivation of human behavior (Hinman, 2007). Human actions are motivated by the satisfaction obtained after completing a task that they are involved in. For example, Mother Teresa was satisfied by her benevolent actions and

How Celtic Folkore has Influenced My Family

1587 words - 6 pages Every family has a unique background that influences the way they live and interact with other people. My parents, who emigrated from Ireland to the States with my three brothers in 1989, brought over their own Celtic folklore and traditions that have helped shaped the way our family operates and lives. One aspect of folklore that has helped shape my family dynamic is the Celtic cross—both its background and what role it has played in our lives

Julia Margaret Cameron

1406 words - 6 pages At a time when women were looked upon as being homemakers, wives, mothers and such the late 1850's presented a change in pace for one woman in specific. Photography was discovered in 1826 and soon after the phenomenon of photography was being experimented with and in turn brought new and different ways of photo taking not only as documenting real time, but also conceptualizing a scene in which an image would be taken. Julia Margaret Cameron will

Evaluation of School Improvement

1403 words - 6 pages The evaluation process should be progressive to incorporate overall planning, implement changes, which contribute to success. In order to focus on school climate and norms, the evaluation design must include the students, instructions, and outcomes to improve communication and building-level concerns to be address in this response. School Climate and Social Norms The school principal, other staff leaders, and personnel set the tone and the

Case Study: The Benefits of Animal Testing

1757 words - 7 pages Nine year old Amy has already had a rough start in life. She was born with an abnormal heart that hinders her everyday activities. Amy is unable to keep up with kids her own age because she often tires out easily. As a consequence, she has very little friends and is often alone. Amy is forced to take different medications everyday just to survive. Amy’s life consists of medicine, doctors, and constant hospital visits. However, Amy is due for a

Myth and Magic: Realism in "One Hundred Years of Solitude"

1531 words - 6 pages “He enjoyed his grandmother's unique way of telling stories. No matter how fantastic or improbable her statements, she always delivered them as if they were the irrefutable truth” (Wikipedia, 2011). Experiences are particular instances of one personally encountering or undergoing something and in these moments of time life changes for the best or the worst and memories are formed. These recollections such as riding your first bicycle, going to

Adiponectin: a Novel Indicator of Malnutrition and Inflammation in Hemodialysis Patients

2384 words - 10 pages Objective Protein-Energy malnutrition (PEM) and inflammation are common and overlapping conditions in hemodialysis patients which are associated with increased risk of morbidity and mortality. Adiponectin is an adipocytokine which is exclusively produced by adipose tissue. Few studies in hemodialysis patients have demonstrated that serum levels of adiponectin were significantly higher in malnourished patients compared to well-nourished ones. The

The Congo Free State: A Legacy of Apathy, Exploitation and Brutality

2298 words - 9 pages Between 1885 and 1908, Belgium’s Leopold II ruled Congo, a region in central Africa, as his personal colony, exploiting the resources and inhabitants for his own gain. Leopold allowed and encouraged Europeans and other Westerners to enter Congo and set up companies whose primary purpose was to gather rubber, which was abundant but difficult to get to in the Congo, using the Congolese as the laborers for the Europeans. Rubber gathering in Congo

Selective Exposition in The Lottery, by Shirley Jackson

1073 words - 4 pages Usually when someone hears the word “lottery” the first thing that comes to mind is a large sum of cash that people compete against highly impractical odds to win. Shirley Jackson’s story The Lottery might imply a similar conception based on the title alone, but the story is filled with unknowns never revealing exactly when and where the story takes place, or why the lottery exists; even what the lottery is isn’t revealed until the very end. Yet


1857 words - 7 pages INTRODUCTION I remember when I was a young child; I would always be scared whenever there was a severe storm outside that included thunder and lightning. This was especially true in the hours of darkness, when you could really see the lightning. As I grew older this so-called fear of lightning turned into a fascination for this weather phenomena. One of my most vivid memories of lightning as a young man was when I was flying to Florida, the

Similar Essays

Napoleon's Russian Campaign Essay

2882 words - 12 pages November 26th and 29th 25,000 French troops walked across the river on Eble’s bridge and went through the snow towards Vilna. Russia was free of most French troops, except prisoners, by mid-December. The French headquarters after the retreat were at Smorgon, a village east of Vilna. On December 5th Napoleon decided to leave the army and return to France, leaving Murat in command. He was worried that if he stayed with the army that his grip on

When The Bubble Burst Essay

1539 words - 6 pages By the time I arrived state side from my second tour in the Middle East the housing bubble had already burst. I noticed a drastic change in the way that many of my friends and family were living. Several of my friends that worked in real estate had sold their boats and seconds houses. My own stock portfolio had lost a third of its value. My sister and her husband had defaulted on their home mortgage leaving them scrambling for a place to live. I

Phase Diagram Essay

4456 words - 18 pages Introduction: Chemical equilibrium is a crucial topic in Chemistry. To represent and model equilibrium, the thermodynamic concept of Free energy is usually used. For a multi-component system the Gibbs free energy is a function of Pressure, Temperature and quantity (mass, moles) of each component. If one of these parameters is changed, a state change to a more energetically favorable state will occur. This state has the lowest free energy

Revolutionary Work Of Art Essay

1890 words - 8 pages Walter Benjamin emphasizes in his essay, “The Work of Art in the Age of its Technological Reproducibility” that technology used to make an artwork has changed the way it was received, and its “aura”. Aura represents the originality and authenticity of a work of art that has not been reproduced. The Sistine Chapel in the Vatican is an example of a work that has been and truly a beacon of art. It has brought a benefit and enlightenment to the art