7.7.2005
VÍTKOVICE STEEL, a. s., whose privatization is being completed these days reached a record profit of 938.8 million crowns for the first quarter this year with sales from own products and services amounting to 4 199.9 million crowns. Compared with the last year where the company’s profit for the same period was 184.9 million crowns, this year’s profit for the first quarter of this year is higher almost by 754 million crowns. Last year’s sales for the first three months were 2 389.3 million crowns.
“The significantly positive changes in these parameters are a proof that the restructuring of the company, together with the global boom on the steel markets yielded its fruits. Thanks to its productivity and high profitability the company has become a very good player on the steel market,” said Ing. Vladimír Bail, Ph.D., Chairman of the Board of Directors and CEO of VÍTKOVICE STEEL, a. s. The success and growth of the company is evidenced also by growing value added. Compared with the first quarter 2004 where value added was approximately 386 million crowns, this year the figure increased almost three times to 1 217 million crowns.
“Our positive economic results were directly shaped by the extraordinary situation on the steel markets,” says Bail and he continues: “And although already there are indications of a mild recession on the steel market, VÍTKOVICE STEEL, a. s., has not recorded any significant drop of its supplies in the second quarter of this year. This means that the estimated profit for the first half could be almost 1.8 billion crowns.
VÍTKOVICE STEEL, a.s., currently has 1580 employees; 1200 employees work in the key operations – some 400 in the steel shop, 800 in the rolling mills. The company produces steel and steel products – heavy plates, heavy and medium sections and cut shapes from heavy plates. In the heavy plate area the company is one of the leading European producers and in the Czech Republic the company is the dominant producer of these plates. The company produces also sheet piles. VÍTKOVICE STEEL is an exclusive producer of sheet piles on the domestic market, part of the production is exported.
