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ERDEMİR GROUP
2014 ANNUAL REPORT
INTRODUCTION
4
Erdemir Group continued to demonstrate a strong performance and
maintain its position as one of the world’s most profitable steel companies
during 2014, a year marked by volatility in the world economy and global
steel sector.
Backed by 50 years of experience, Erdemir Group is unwavering in its
determination to meet its targets and looks to the future with confidence.
In this process, sustainable growth, innovation and efficiency are the main
cornerstones of the Erdemir Group’s corporate strategy.
Erdemir Group’s strength and ability draws not just from our well
established heritage, but also the responsibility we take for the future.
Working to this principle, the Group continues to take decisive steps
forward towards its vision for 2020.
Dear stakeholders,
At a time when global economic activity has languished…
The year 2014 was marked by relatively weak global economic activity amid
a slowdown in economic growth in emerging markets, including China,
and recession in the Euro Area. Meanwhile, the Fed’s announcement that it
would gradually wind down the quantitative easing program implemented
since 2008 and may raise interest rates gave rise to uncertainty in financial
markets and volatility in capital inflows.
The recovery in the US economy became one of the most important
developments of 2014; the ongoing negativity in the Euro Area, on the other
hand, compelled the European Central Bank to announce an asset purchase
program at the beginning of 2015.
50 YEARS
BACKED BY 50 YEARS OF EXPERIENCE,
ERDEMIR GROUP IS UNWAVERING IN ITS
DETERMINATION AMONG SUSTAINABLE
GROWTH, INNOVATION AND EFFICIENCY
STRATEGY.
MESSAGE FROM THE CHAIRMAN OF THE BOARD
DERIVING STRENGTH FROM BOTH OUR
RESPONSIBILITY FOR THE FUTURE AND OUR
WELL ESTABLISHED HERITAGE.
ALİ PANDIR
CHAIRMAN OF THE BOARD
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