October 12, 2008

ZDB group profit in 2007 up by 30% YoY

ČTK reported that Czech steelworks ZDB Group of entrepreneur Karel Komarek raised pre tax profit by 30% YoY to CZK 692 million in 2007 and its sales grew by 3.1% YoY to CZK 6.835 billion. After tax profit reached CZK 550 million against CZK 412 million in 2006.

Mr Zdenek Juchelka CEO of ZDB said that "Boom in the steel industry started in 2004 and interest in iron and steel has been growing ever since. We have already penetrated, for example, the markets in the USA and South America. Our investments into production also helped a lot.”

He said that thanks to the investments, the company makes more sophisticated products and is able to compete with companies from Russia and other states, adding that there was demand for ZDB Group's products in the world. He added that "We currently export nearly 70% of output.”

Mr Tomas Hladik CFO of ZDB said that thanks to last year's results, the company will be able to invest and develop further, which will secure good results also for the coming years. He added that in the last five years, ZDB Group invested CZK 1.7 billion into modernization and investments this year are planned at some CZK 600 million.

ZDB Group, producing a wide range of goods for the car, aviation, shipbuilding, construction and food industries, together with the firms BONATRANS and KOVOSVIT, is part of Komarek's financial group KKCG. ZDB Group and BONATRANS Group employ nearly 4,000 people, ranking among leading employers in the region.