Annual report 2018

Železiarne Podbrezová a.s. ANNUAL REPORT 2018 12 REPORT BY THE BOARD OF DIRECTORS ON BUSINESS ACTIVITIES, ASSETS, AND FINANCIAL PERFORMANCE IN 2018 AND INFORMATION ON THE BUSINESS PLAN Dear Shareholders, Given the economic slowdown in the steel sector in recent years, the Board of Directors of Železiarne Podbrezová considers the financial results and indicators for 2018 as very successful. Last year, the Company, its management and employees again exceeded the planned production volumes. The volume of produced steel was one of the highest ever and our production of rolled tubes was the highest in our history. As a result, the sales results were very good. The record-breaking production and strong market demand generated above-average financial results. The Company and all subsidiaries in the ŽP GROUP recorded sales growth and most generated positive operating and net results.