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We would like to thank all applicants for the financial grant from the VÍTKOVICE STEEL Endowment Fund. Once again we received a large number of applications and the managing board will decide on the allocation of financial assistance in the autumn of this year.

As the prices of raw materials and energies rise, we were looking for the best solution to optimize the consumption of basic timber. We analyzed data and identified high cost in the purchase of base timber. We divided the optimization of timber consumption into two stages.

VÍTKOVICE STEEL residing in Ostrava achieved the best economic result for the last 3 years despite the difficulties caused by the coronavirus pandemic. The financial result is negative but operational EBITDA is zero which confirms the positive trend of operational performance.

Steel companies have taken the Chinese coronavirus pandemic seriously from the beginning, behaving as responsibly as possible because they cannot afford to lose employees in non-stop operations, the closure of which could cost billions of crowns. The measures taken often go beyond legal obligations. Companies provide effective protective equipment, minimize human contact, and they detect infections in a timely manner by frequent testing, where most of the infections come from homes. In the three largest member companies alone, these measures have so far cost dozens of millions crowns, with the state not contributing in any way. The share of active cases in our companies is approximately 50% lower than the available and clearly underestimated figures for the general population. This clearly disproves the myth that industrial companies are the breeding ground for the infection.