Bukoza Holding Hencovce reports first half sales of SKK 913.3 million

25 August 2005

Aug 25, 2005. /Lesprom Network/. Wood-processing group Bukoza Holding a.s., Hencovce reported sales of its own products and services of SKK 913.3 million ($28.9 million) during the first half of 2005. Compared with the previous year's period this means a moderate drop of 1.4%. Company director general Marian Porvaznik said that SKK 797.8 million ($25,2 million) of sales accounted for joint-stock company Bukocel, which produces pulp. Its sales rose 5% compared with first half 2004. During the first six months of 2005 Bukoza Holding produced and sold 57,000 tonnes of pulp, 1,700 cubic meters of glued large-scale boards and other wooden products. Since the group exports as much as 82% of its output, firming of the Slovak currency towards the US dollar as well as the euro negatively affected its sales. Mr. Porvaznik added that supply exceeding demand as well as decline in prices of hardwood pulp on world markets had a negative impact on the group's turnover during the first half of the year. The group plans to invest about SKK 460 million ($14,5 million) into modernization of its production between 2005 and 2007. The group closed the first half of 2005 with a pre-tax profit of almost SKK 5.8 million ($0,18 million). Bukocel reported a pre-tax profit of SKK 22.6 million ($0,7 million). The group includes five production and servicing companies. The production sub-group comprises Bukocel, Bukoza Preglejka, Bukoza Pila and Bukoza Progres. Marketing and services is secured by Bukoza Export-Import. The joint-stock company Bukoza Holding shelters control and supervision activities, secures decision-making in the field of financial and economic strategy, investments and the group's planning. At the end of June the group reported 1,339 employees.



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