LAST YEAR VÍTKOVICE STEEL, a.s. INCREASED SALES OVER 9 BILLION CROWNS

Based on the preliminary results, last year VÍTKOVICE STEEL, a.s. increased sales to 9.085 billion crowns, which is more by six percent than in 2002 when the company’s sales were 8.6 billion crowns. Also the last year profit will be higher.

In 2002, the company generated profit of 46.32 million crowns. Production of rolled products in 2003 reached 880 thousand tons. The company noted record production on all rolling mills. Last year the outputs of VÍTKOVICE STEEL, a.s. were higher approx. by 15 percent.

Also the parent company, i.e., OSINEK, a.s. showed a significant increase in sales in 2003, based on the preliminary results. The value of sales in aggregation with VÍTKOVICE STEEL, a.s. was higher than 10.5 billion crowns and it was higher by 800 million than sales in 2002. From the long-term point of view, OSINEK, a.s. is a profit making company. The basic capital of the company makes 15.833 billion crowns.