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 25 TEXT as of 31.12.2003 as of 31.12.2002 Trade margin 9 143 10 201 Production 5 440 056 5 419 184 - revenue from the sale of own products and services 5 017 023 4 990 349 Production-related consumption 3 776 068 3 684 158 - consumed raw materials, energy consumption, and consumption of other non-inventory supplies 3 274 526 3 084 178 - services 501 542 599 980 Added value 1 673 131 1 745 227 Personnel expenses total 1 145 259 1 157 867 Taxes and fees 12 924 14 100 Amortization of non-current intangible assets and depreciation of property, plant and equipment 245 563 241 131 Use and reversal of provisions and adjustments 404 677 575 138 Creation of provisions and adjustments 498 469 515 412 Other operating income 152 748 88 542 Other operating expenses 181 766 126 770 Profit/loss from operations 146 575 353 627 Income from financial activities 375 120 299 118 Expenses related to financial activities 398 477 416 616 Profit/loss from financial activities -23 357 -117 498 Income tax on ordinary activities 34 261 63 704 Profit/loss from ordinary activities 88 957 172 425 Extraordinary income 0 14 970 Extraordinary expenses 1 62 320 Income tax on extraordinary activities 0 -12 985 Profit/loss from extraordinary activities -1 -34 365 Profit/loss for the accounting period 88 956 138 060 Main figures of the Income Statement in thous. SKK Financial data submitted herein correspond with the respective figures of the individual financial statement of Železiarne Podbrezová a. s. prepared as due financial statement under § 19 sec. 1 of the Law no. 431/2002 Z. z. on Accounting, covering the period from January 1, 2003 to December 31, 2003.