Železiarne Podbrezová had a record year
Steel pipe maker Železiarne Podbrezová (Vladimír Soták) saw its net profit rise 9-fold to €49.2m and its sales grow 38% to €428.6m last year. It benefited from earlier purchases of cheaper energy and decent demand in both the construction and automotive sectors. Its smaller businesses in ski and golf segments (€0.5m loss) and refractories producer Žiaromat, which lost markets in Ukraine, performed worse. Last year, its 3,000 workers received a 16% wage increase. This year, profits may be reduced by a drop in demand and pipe prices. Earlier this year it completed a €3m investment in the country's largest rooftop industrial photovoltaic power plant. It also operates five small 5.3 MW hydropower plants.
