Annual report 2014

6eport b] tLe &oard oJ (ireGtors 3n tLe business aGtivities assets and ƤnanGial perJorQanGe in and inJorQation on tLe business plan 8Le JundinK oJ tLe operational and 'AP)< needs oJ tLe 'oQpan] Jor is seGured b] a Glub Gredit line oJ )96 Qillion [LiGL is due in .ul] and b] otLer sepa - rate GontraGts Jor sLort terQ JundinK GoQpleQented b] a developQent loan provided b] )\iQbanOa 76 under tLe Qost eGonoQiGall] Javourable Gonditions. 8Le total Gredit line oJ tLe 'oQpan] aQounts to )96 . Qillion [LiGL is Jull] suJƤGient Jor Gontinuous JundinK Jor tLe Jollo[inK ]ears. ;itL reKard to tLe sales in tLe aQount oJ )96 . Qil - lion tLe &oard oJ (ireGtors oJ Železiarne Podbrezová a.s. set a Koal Jor to Kenerate a net proƤt aJter ta\ in tLe aQount oJ )96 . Qillion. 8Lis aQount [ill also inGlude revenues JroQ ƤnanGial investQents. 8Le dividends to be reGeived JroQ subsidiaries in are estiQated at )96 . Qillion. ;e also plan to Kenerate a proƤt in all subsidiaries in . 8Le obNeGtive is to aGLieve suJƤGient proƤt to ensure tLeir ad - eUuate developQent and dividends Jor tLe parent GoQpan]. -n Lo[ever [e Gan reasonabl] e\peGt tLe under util - isation oJ tLe produGtion and desiKn GapaGities oJ 87 Plze˂ a.s. due to an insuJƤGient nuQber oJ orders. 8Le develop - Qent oJ Leav] industr] Las staKnated in tLe lonK terQ and sales opportunities are inGreasinKl] liQited due to tLe level oJ GoQpetition. 8LereJore do[nsizinK as [ell as JurtLer austerit] Qeasures Gan be e\peGted in . 8Le business aGtivities in tourisQ [LiGL is tLe tLird Gore aGtivit] oJ our business aGtivities are no[ Jull] inteKrated in tLe subsidiar] 8ále a.s. ;e intend to Gontinue developinK tLis area b] enLanGinK tLe teGLniGal standards oJ tLe sports resort and its eJƤGient operations. ;e aiQ to JurtLer iQ - prove tLe serviGes provided and to strenKtLen our reputation aQonK a [ide ranKe oJ GustoQers. 8LereJore [e [ill pre - pare a desiKn Jor tLe reGonstruGtion and renovation oJ tLe 7tupOa Lotel in . 8Le sGope oJ tLe business aGtivities oJ Železiarne Pod - brezová a.s. is also supported b] tLe aGtivities oJ otLer sub - sidiaries and assoGiates [LiGL Gontribute to tLe Gonsolidat - ed eGonoQiG results. 9pon QeetinK tLe planned revenues JroQ tLe sale oJ QerGLandise produGts and serviGes at tLe Gonsolidation Kroup level in tLe aQount oJ )96 . Qillion [e e\peGt to Kenerate a Gonsolidated proƤt Jor Železiarne Podbrezová a.s. in tLe aQount oJ )96 . Qillion. CONCLUSION 8Le &oard oJ (ireGtors evaluates tLe results ver] positivel] Qainl] due to tLe JaGt tLat Gonditions Greated Jor LiKL Uualit] steel produGtion aJter tLe previous Qodernisa - tion oJ Gontinual GastinK [ere reƥeGted in praGtiGe. 8Le op - tiQisation oJ paraQeters oJ ne[ teGLniGal eUuipQent and tLe GLanKe in tLe Gross seGtion oJ Gasts resulted in tLe e\ - peGted savinKs and in LiKLer Uualit] Gast steel [LiGL [as reƥeGted in a siKniƤGant reduGtion in Gosts oJ GonsuQables and serviGes in tLe produGtion oJ seaQless Lot rolled tubes and preGision Gold dra[n tubes. ;e Lave Greated real Gonditions Jor LiKL Uualit] steel produGtion Jor deGades to GoQe. 8Lese savinKs [ere a QaNor sourGe oJ tLe report - ed operatinK proƤt in aQountinK to )96 tLou - sand. 8Le proƤt loss JroQ ƤnanGinK aGtivities [as a proƤt oJ )96 tLousand tLanOs to dividends reGeived JroQ subsidiaries. 8Le reported positive results represent a suGGess Jor tLe 'oQpan]ŭs QanaKeQent as [ell as oJ all eQplo]ees and tLe entire staJJ inGludinK all tLe eQplo]ees oJ subsid - iaries. 8Le proƤt loss [as a proƤt oJ )96 . )arn - inKs per sLare aQounted to )96 . . 8LereJore [e also propose tLis ]ear tLat tLe +eneral 1eetinK also pa] out dividends to sLareLolders JroQ tLe retained earninKs JroQ previous ]ears. 7ubsidiaries and assoGiates also aGtivel] Gontributed to tLe Gonsolidated results oJ Železiarne Podbrezová a.s. 6evenues JroQ sales [itLin tLe Gonsolidation Kroup aQounted to )96 tLousand. A proƤt oJ )96 tLousand [as at - tributable to Železiarne Podbrezová a.s. as tLe GonsolidatinK GoQpan]. -n tLe 'oQpan]ŭs perJorQanGe [as Jar belo[ tLe pre Grisis level. ,o[ever it reQains a Kuarantee Jor tLe Go operatinK sQall and QediuQ sized entrepreneurs in tLe reKion. 8Le adeUuate utilisation oJ produGtion GapaG - ities enabled tLe 'oQpan] to Qaintain eQplo]Qent and tLus tLe inGoQe oJ tLe population in tLe reKion. Železiarne Podbrezová a.s. strenKtLened its position as tLe Qost siKniJ - iGant eQplo]er and reQained a Kuarantor oJ soGial seGurit] in tLe &rezno distriGt and tLe &ansOá &]striGa reKion.