Annual Report 2005

Annual growth of added value amounting to 47% resulted from extreme business conditions. This was due to a boom in metallurgy, and is considered by the Company to be a rare and exceptional event and therefore this figure does not correspond to the 7% growth of personnel expenses, which complies with an envisaged mid-term development trend in this area. Profit after tax significantly exceeded the objective set in the business plan. Financial data, presented in the annual report, corresponds with data from individual financial statements of Železiarne Podbrezová a.s., which have been prepared as ordinary financial statements in accordance with Article 17 (6) and audited by an auditor in accordance with Article 19 (1) of Slovak Act No. 431/2002 Coll. on Accounting for the accounting period from 1 January 2005 to 31 December 2005. Text Trade margin Production revenue from the sale of own products and services changes in internal inventory own work capitalized Production-related consumption consumed raw materials, energy consumption, and consumption of other non-inventory supplies services Added value Personnel expenses total Taxes and fees Amortization of non-current intangible assets and depreciation of property, plant and equipment Use and reversal of provisions and adjustments Creation of provisions and adjustments Other operating income Other operating expenses Profit/loss from operations Income from financial activities Expenses related to financial activities Profit/loss from financial activities Income tax on ordinary activities Profit/loss from ordinary activities Extraordinary income Extraordinary expenses Income tax on extraordinary activities Profit/loss from extraordinary activities Profit/loss for the accounting period Main figures from the Income Statement (in thousand SKK) REPORT BY THE BOARD OF DIRECTORS Report by the Board of Directors Annual Report 2005 Železiarne Podbrezová 24 2004 13 347 6 917 633 6 336 274 57 028 524 331 5 059 293 4 579 097 480 196 1 871 687 1 376 369 9 142 264 016 517 824 560 241 136 572 145 858 170 457 267 097 153 322 113 775 61 909 222 323 0 0 0 0 222 323 2005 12 049 8 272 229 7 626 797 198 551 446 881 5 530 281 4 973 999 556 282 2 753 997 1 473 306 12 068 254 980 622 668 656 828 633 923 638 576 974 830 550 171 439 086 111 085 202 591 883 324 0 0 0 0 883 324