Annual Report 2003

REPORT BY THE BOARD OF DIRECTORS ANNUAL REPORT Ž E L E Z I A R N E P O D B R E Z O V Á 2 0 0 3 30 The company produces steel precision cold drawn tubes and tube elbows. Its product range is complementary to that of Železiarne Podbrezová. In 2003 the company produced and sold products and services for total value of 196 210 thousand CZK (248 206 thousand SKK). The company has equity of 50 000 thousand CZK (63 250 thousand SKK) and produced after tax profit 3 621 thousand CZK (4 581 thousand SKK). In 2003 it employed 184 people. The company responsible for core sales and distribution channel to the European and world markets. During the 2003 calendar year, it earned from the sale of goods a total of 55 992 thousand CHF (1 476 911 thousand SKK). The company has equity of 1000 thousand CHF (26 377 thousand SKK) and produced after tax profit of 1041 thousand CHF (27 479 thousand SKK). An equally important distributor operating on the European markets and on those of the Near East. In 2003 it earned from the sale of merchandise and services a total of 23 838 thousand EURO (981 215 thousand SKK). With equity of 258 thousand EURO (10 620 thousand SKK), the company produced after tax profit of 40 thousand EURO (1650 thousand SKK). Another important distributor marketing our products in Poland. In the past year the company earned totally 73 250 thousand PLN (641 892 thousand SKK). With share capital 100 thousand PLN (876 thousand SKK), the company produced after tax profit 832 thousand PLN (7 289 thousand SKK). The company provides truck transportation and forwarding services of primarily Železiarne Podbrezová a.s. products. In 2002 it provided services for the total value 279 462 thousand SKK. With equity 1000 thousand SKK, the company produced after tax profit of 1692 thousand SKK. The company manages the construction and sales of a multi purpose house in Bratislava that is to be completed in 2005. Last year, the investment amounted to 66 545 thousand SKK, which is roughly one third of the assessed cost. ŽP Tažírny trub Svinov, spol s r. o. PIPEX International AG PIPEX ITALIA S. p. A. SLOVRUR Sp. z o. o. ZANINONI SLOVAKIA, s. r. o. ŽP – Invest s. r. o.