Annual report 2017

Železiarne Podbrezová a.s. 12 REPORT BY THE BOARD OF DIRECTORS ON BUSINESS ACTIVITIES, ASSETS, AND FINANCIAL PERFORMANCE IN 2017 AND INFORMATION ON THE BUSINESS PLAN Dear Shareholders, The Board of Directors of Železiarne Podbrezová, a.s., assesses the results of operations for 2017 as successful when compared to the original plan for 2017. After several difficult years in the steel industry, the Company and its management significantly surpassed the planned volumes of production and sales and achieved good economic results. The Company, ŽP GROUP and most subsidiaries reported revenue growth and generated both operating and net profits.