7/15/2008
Assembly of the company Slovenian Steel Group – successful operation in 2007 and discharge of liability for the Management and Supervisory Board
On Tuesday 15 July 2008 at the company's head office the Assembly of the Slovenian Steel Group took place. The Assembly above all considered the following issues: company's annual report, discharge of liability for the Management and Supervisory Board for 2007 and the selection of audit firm for financial year 2008.
- The Assembly of the company familiarised themselves with the Annual Report of the company SIJ – Slovenska industrija jekla d.d. and the SIJ Group (Slovenia Steel Group), together with the assessments from the auditors, which were positive and without reservations for all the companies within the Group and the Group as a whole.
In 2007 the companies in the SIJ Group have transferred to the International Financial Reporting Standards; the Standards main influence on the parent company was reflected in the value of the long-term finical investments in the subsidiaries, which should be re-evaluated to the original value in the amount of € 15.24m. The loss form this was already partially covered at the transition to 2006. A part of the transferred loss in the amount of € 7.49m remained uncovered, and together with covering of the current loss in the amount of € 499,000 they were the subject of decision and confirmation of today’s Assembly.
In 2007 the SIJ Group created net consolidated revenue in the amount of € 678.91m, which is 21.7 % more than in the previous year. All physical indicators of business operations were exceeded in 2007 in comparison with 2006. At a higher net business outcome in the amount of € 59.88m, the average added value also increased by 12.6 %, which means € 43.971 per employee. In 2007, the average number of employees increased by 5.6 % which amounted to 3383 employees.
- The Assembly of the company granted dismissal to the Management and Supervisory Boards and accepted the proposal by the Management and Supervisory Boards to pay the awards to the members of the Supervisory Board.
- They again appointed the company Deloitte revizija, d.o.o. Ljubljana the auditor of the companies in the SIJ Group and of the group as a whole, for the business year, which will end with 31 December 2008.