Annual Report 2004

Ž E L E Z I A R N E P O D B R E Z O V Á ANNUAL REPORT 2004 30 REPORT BY THE BOARD OF DIRECTORS ŽP Tažírny trub Svinov, spol. s r.o. ("ŽP TT Svinov") produces steel precision cold drawn tubes and tube elbows. Its product range is complementary to the products of Železiarne Podbrezová. In 2004 ŽP TT Svinov produced and sold products and services for total value of CZK 230,938 thousand (SKK 293,522 thousand). ŽP TT Svinov has share capital of CZK 50,000 thousand (SKK 63,550 thousand) and generated profit after tax of CZK 8,653 thousand (SKK 10,998 thousand). In 2004 it employed 185 people. In 2004 PIPEX International AG ("PIPEX AG") was the most important sales and distribution channel through which Železiarne Podbrezová sold its products in European and world markets. Its share of total sales was 19.71%. During the 2004 calendar year, it earned a total of CHF 57,599 thousand (SKK 1,446,944 thousand) from the sale of goods. PIPEX AG has share capital of CHF 1,000 thousand (SKK 25,121 thousand) and generated profit after tax of CHF 172 thousand (SKK 4,323 thousand). PIPEX ITALIA S.p.A. ("PIPEX Italia") was the second most important distributor for products of Železiarne Podbrezová in 2004, with 15.05% share of total sales. It operated on European and Middle East markets. In 2004, its revenues from sale of products and services amounted to EUR 33,128 thousand (SKK 1,285,234 thousand). With share capital of EUR 258 thousand (SKK 10,009 thousand), PIPEX Italia generated profit after tax of EUR 139 thousand (SKK 5,403 thousand). In 2004 SLOVRUR Sp. z o. o. ("Slovrur") was third most important distributor marketing our products in Poland. In 2004, Slovrur earned PLN 135,337 thousand (SKK 1,288,138 thousand), almost double increase that of the previous year. With share capital of PLN 100 thousand (SKK 952 thousand), Slovrur generated profit after tax of PLN 5,228 thousand (SKK 49,760 thousand). In 2004 ZANINONI SLOVAKIA, s.r.o. ("Zaninoni") was, as in the previous year, a provider of truck transportation and goods shipment services for Železiarne Podbrezová a.s. In 2004 it provided services in the total value of SKK 336,858 thousand. With share capital of SKK 1,000 thousand, Zaninoni generated profit after tax of SKK 1,672 thousand. 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.