Annual report 2018

3 Železiarne Podbrezová a.s. ANNUAL REPORT 2018 INTRODUCTION OF THE CHAIRMAN OF THE BOARD OF DIRECTORS Last year, we implemented a number of partial measures in production and trade, which improved the utilisation of our production capacities and also had a positive impact on the financial results. I am very pleased to see how well prepared young people in the Company management are, as this is a crucial factor for the successful performance of the Company in the future. In 2019, the Company will prepare a 5-year plan focused on new investments, which we plan to carry out and which should improve financial performance and all performance indicators. The total funds we intend to invest over the next 5 years will exceed EUR 65 million. In 2018, the Company’s results as regards quality were excellent and we received very positive feedback from our customers. We will work to continue this trend, as high quality and good service for our customers are key to obtaining sufficient orders. Our production, trade and service subsidiaries also posted excellent financial results. Overall, 2018 was a very successful year for our Group. I would like to thank all our staff and suppliers, the financial institutions with which we cooperate, suppliers of inputs, and all those who had any part in the good performance of the Company in 2018. We expect a moderate increase in electricity and natural gas prices on global markets in 2019. However, we do not expect this to have a major impact on the Company, as we have long-term contracts with our natural gas and electricity suppliers. Dear Business Partners, Finally, I would like to thank you again for your excellent cooperation in 2018 and wish you and the Company every success in 2019. Ing. Vladimír Soták Chairman of the Board of Directors Chief Executive Officer