Annual Report 2004

ANNUAL REPORT 2004 Ž E L E Z I A R N E P O D B R E Z O V Á 31 REPORT BY THE BOARD OF DIRECTORS ŽP-Invest s.r.o. ("ŽP-Invest") manages the construction and sales of a multi purpose house on a lucrative location in Bratislava, scheduled to be opened in 2005. Since the beginning of the construction to 31 December 2004, the investment amounted to SKK 197,673 thousand, which is almost the total expected cost. In March 2005, a house inspection occurred and at present, most of the premises is already leased. ŽP - Gastroservis, s.r.o. ("ŽP - Gastroservis") provides complex services in catering for Železiarne Podbrezová employees and for external customers. In 2004, almost 52% of the total volume of prepared dishes was sold to external customers, by which ŽP - Gastroservis confirmed its position on the market. ŽP - Gastroservis earned SKK 63,755 thousand from the sale of goods, products and services. With equity SKK 21,000 thousand, the company ended the year with profit after tax of SKK 85 thousand. ŽP Šport, a.s. ("ŽP Šport") develops activities in sport, advertising and promotion. Its objective is, apart from development of professional sport activity, to support also the development of non-professional sport activities of Železiarne Podbrezová employees. The strategy to achieve this objective is to create conditions for performing recreational sport activities in the field of winter as well as summer sport. In 2004, total sales of merchandise and advertising services amounted to SKK 49,917 thousand. With share capital of SKK 15,350 thousand, it ended the year with a loss of SKK 980 thousand. The core activity of ŽP BYTOS, s.r.o. ("ŽP BYTOS") is the management of a residential flat fund. Since being established, ŽP BYTOS has transformed ownership of more than 1,200 flats owned by Železiarne Podbrezová and in 2004 the Company managed 1,080 flats in private property. In 2004 total sales of products and services amounted to SKK 4,102 thousand. With share capital of SKK 2,100 thousand, ŽP BYTOS ended the year with profit after tax of SKK 338 thousand. ŽP – Gastroservis, s. r. o. ŽP Šport, a. s. ŽP BYTOS, s. r. o. ŽP – Invest s. r. o.