VÍTKOVICE STEEL located in Ostrava produces and operates without any restrictions but is burdened by lengthy investigation conducted by the Financial Analytical Office (FAO) due to the company’s suspected ownership ties to Russia. The investigation has been underway for 3 months without any outcome and the FAO does not communicate with the company. This makes it difficult for the company to maintain good relationships with its business and financial partners, and its employees and their families experience uncertainty and concerns about further development
In the next four years, the largest trade union in the Czech Republic - OS KOVO - will be led by Roman Ďurčo, the chairman of the VÍTKOVICE STEEL trade union. He was elected by a strong majority of votes by the representatives of the trade unions from the companies at the VIII. Congress of the union in Prague. He will replace Jaroslav Souček.
A change in VÍTKOVICE STEEL management will take place on 1 January, 2022. Dmitrij Ščuka will be replaced at the position of Chairman of the Board of Directors and General Manager by Radek Strouhal, current Chief Financial Officer and member of the Board of Directors.
The representatives of VÍTKOVICE STEEL management and trade union closed the collective bargaining arriving at an agreement on wage development and employee benefits for this and next year. The employee wages and bonuses will grow by up to 10 %, if the specified criteria are met.
VÍTKOVICE STEEL returns to profit making after difficult loss years. It achieved 25 M CZK net profit for the first three quarters of this year and the outlook is still positive in spite of the utility price increase. The company profited from the recovery of demand for steel products as well as improving of efficiency of its production processes. The good results will be reflected in employee remunerations.
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.