Annual report 2016

ANNUAL REPORT 2016 • Železiarne Podbrezová a.s. 17 RESEARCH AND DEVELOPMENT In 2016, we spent EUR 836 thousand on R&D. In coop- eration with our subsidiary, ŽP VVC s.r.o., contracted research tasks were undertaken at a cost of EUR 735 thousand. Research was undertaken into steel proper - ties, tools, optimisation of technological parameters of steel and tube production. ENVIRONMENTAL POLICY Care for the environment and occupational health and safety are an integral part of management systems and a permanent part of the business activities of Žele - ziarne Podbrezová a.s. Based on the previous effectiveness and functional- ity analyses of individual management systems to integrate management systems, we implemented a joint internal combined audit of the two manage- ment systems for environmental management and occupational health and safety in 2016. The suitability of the combined audit implementation was confirmed by the certification company, SGS Slovakia spol. s r.o., which performed the following audits in 2016: - A recertification audit of the occupational health and safety management system to review compliance with STN OHSAS 18 001. Compliance with OHSAS 18 001 requirements was confirmed by the issuing of a new (fifth) certificate for Železiarne Podbrezová a.s. valid until 15 February 2019; - The first oversight audit under ISO 14 001 to retain the environmental management system certificate val - id until 9 September 2018. The auditor confirmed the functionality of the Company’s management system under ISO 14001. We met a total of 11 environmental objectives (EUR 537 thousand) and 17 occupational health and safety objec- tives (EUR 1 632 thousand) under the defined tasks in 2016. HUMAN RESOURCES Železiarne Podbrezová a.s. pays special attention to HR management. Looking after our employees is a Company priority and encompasses recruitment, se- lection and education of young people, remuneration, a sophisticated occupational health and safety system, and continual education and benefits. In 2016, the Company again adopted the HR, Wage, Social and Occupational Health and Safety Policy Pro- gramme. The programme is set out in two documents: the 2016 Collective Agreement concluded between ZO OZ KOVO (KOVO trade union works council) and the Board of Directors of Železiarne Podbrezová a.s., and the 2016 Employee Care Programme of the Board of Di- rectors of Železiarne Podbrezová a.s. The Company ful - ly met its obligations arising from the said documents. A total of EUR 377 thousand was spent from the social fund in 2016. The most significant items were as fol - lows: - Catering services for employees EUR 260 ‘000; - 24/7 accident insurance for all employees EUR 49 ‘000; - Children’s holiday camps EUR 27 ‘000; - Employee rehabilitation vouchers EUR 16 ‘000; - Recuperation stays for employees who are blood donors EUR 2 ‘000. REPORT BY THE BOARD OF DIRECTORS ON BUSINESS ACTIVITIES, ASSETS, AND FINANCIAL PERFORMANCE IN 2016 AND INFORMATION ON THE BUSINESS PLAN