Annual report 2015

Železiarne Podbrezová a.s. Annual report 2015 Research and Development In 2015, we spent EUR 352 thousand on research and de - velopment. Contractual research in cooperation with our subsidiary, ŽP VVC, related to six research tasks at a cost of EUR 244 thousand. The tasks were focused on research in boiler steel properties, tools, optimisation of technological parameters of steel and tube production. In 2015, the project entitled “Research into the properties of new-generation high-temperature steel for application in superheater systems with ultrasupercritical parame - ters” was concluded. It was co-funded using EU funds for regional development and the state budget of the Slovak Republic within the Research and Development operating programme of the Ministry of Education, Science, Research and Sport of the Slovak Republic. The project tested the properties of modern steels for the energy sector, such as P92, P23 and MARBN (martensitic alloy steel B and N). Environmental Policy One of the basic conditions of the management of Železiarne Podbrezová a.s. is increasing the quality of the environment in line with the certified environmental management system pursuant to the ISO 14 001 standard requirements. In 2015, SGS Slovakia spol. s r.o. performed a recertification audit. The audit results confirmed compliance with long- term environmental objectives defined by the Company’s environmental policy, which primarily includes the reduction of energy consumption and carbon dioxide emissions, waste recovery, and the enhancement of air and water quality. Compliance with the requirements of ISO 14001 was con - firmed by the issuing of a new certificate for Železiarne Pod - brezová valid for three years from 10 September 2015 to 9 September 2018. Nine measures were implemented according to the ap - proved Environmental Management System Programme at a total cost of EUR 230 thousand in 2015. Report by the Board of Directors on Business Activities, Assets, and Financial Performance in 2015 and Information on the Business Plan 17