Annual_report_2006

A WORD FROM THE CHAIRMAN OF THE BOARD OF DIRECTORS Ž E L E Z I A R N E P O D B R E Z O V Á 2 0 0 6 A N N U A L R E P O R T 3 A good closing-balance was influenced in particular by the positive development of trade on both the European and global markets. Thanks to the high quality achieved in production and the low number of claims, we retained a very good price level for our products. The few-years preparation of the Company and its employees for operation on the European and global markets – as distinguished by high quality and supply deadline requirements – has been proved time well spent. All investments made in employees and technology over recent years have borne fruit. I am pleased that very good financial results were reported by all cost centres from the steel mill, seamless tube mill, tube mill, mill for welded tubes with large diameters, to the tubular product section. Undoubtedly, relationships with business partners, financial institutions, suppliers and customers have a significant impact on the reported results of operations. Thank you all for the excellent cooperation. I would like to assure you that Železiarne Podbrezová will continue the current trend well into the future. I wish to express my gratitude to the whole staff of Železiarne Podbrezová a.s. for the excellent economic results. In 2006, our Company not only fulfilled its obligations to business partners and the State, but significantly influenced the growth of living standards in the Horehronie region. The contribution of Železiarne Podbrezová a. s. in the health, education, sport, and culture of the region was hugely significant. In 2006 we also launched the Private Secondary School of ŽP, which along with the Private Secondary Apprentice School of Metallurgy of ŽP a.s. provides opportunities for the good professional preparation of the future generation of the Company employees. At present our joint stock company is under- going one principal change. Based on the proposal of the Board of Directors of Železiarne Podbrezová a.s., the extraordinary general meeting held on 19 March 2007 approved the change of registered shares issued in book-entry form to registered documentary shares. I strongly believe that this will have a positive impact on the future of our Company. I believe that the fulfilment of this year’s busi- ness and financial plan will be a sufficient guarantee to ensure the further growth of the living standards of our employees, retain the Company’s prosperity, and last but not least, to fulfil the dividend policy for our sharehold- ers. I want to thank the members of the Board of Directors and the Supervisory Board of Železiarne Podbrezová. In 2006 they once again acted as members of good management, and I fully expect that we will continue in this way in years to come. Ing. Vladimír Soták Chairman of the Board of Directors and CEO Dear Shareholders, 2006 represented another very successful year for our Company.