Slovakia reported a preliminary foreign trade deficit of SKK 2.319 billion in April. The trade deficit was by SKK 3.6 billion lower than in April 2003. Monthly growth of exports in April was 30.5 percent with export totaling SKK 80.076 billion. The growth rate of imports was 22.4 percent, when the country imported SKK 82.395 billion worth of goods. Slovakia’s trade balance for four months of this year was negative, with a trade deficit of SKK 1.718 billion, the Slovak Statistics Office reported on Friday. Compared with the first four months of 2003, the trade gap was SKK 10.1 billion narrower.

Producer Prices Down 0.2 Percent y/y in April

In April producer prices in industry in Slovakia increased 0.2 percent from March, the Slovak Statistics Office reported on Friday. Prices of products for the domestic market shrank 0.1 percent and export prices rose 0.5 percent. Compared with April 2003 the prices decreased by 0.2 percent. Domestic market prices grew 2.2 percent y/y while the export prices fell 2.7 percent y/y. In the average from the beginning of the year the producer prices fell 0.4 percent y/y.

Leather and Footwear Industry Boosted Sales in Q1 2004

Companies in the leather and footwear industry in Slovakia report positive results for the first quarter of 2004 when they earned an aggregate gross profit of SKK 571 million. Sales of their own products and other goods grew 2.7 percent y/y to SKK 3.66 billion. Export sales increased by 2.2 percent y/y, president of the Leather and Footwear Industry Association (ZKOP) Stefan Sulo informed SITA.

Strojstav Nove Mesto nad Vahom Reports 2003 Profit of SKK 307,000

Strojstav in Nove Mesto nad Vahom, a.s. closed the year 2003 with a profit of SKK 307,000, up SKK 220,000 compared with the previous year. Sales of its own products and services amounted to SKK 144.7 million, what was by SKK 4 million less than in 2002. Operating profit shrank SKK 3 million y/y to SKK 6.1 million, while the company reduced its loss from financial operations by SKK 2.4 million to SKK 5.7 million. Output shrank by SKK 6.1 million to SKK 157.3 million, according to data released by the company.

SE Dominant Power Producer Earned SKK 1.31 Bln. Profit Last year

Dominant Slovak power producer Slovenske Elektrarne, a.s., (SE), closed the previous year with a net profit of SKK 1.31 billion, which was a significant improvement of SKK 1.079 billion compared with 2002. Sales of its own products and services rose SKK 5 billion to SKK 47.341 billion, disclosed the company on Friday.

Slovak Telecom Plans to Complete Network Digitizing this Year

Slovak fixed-line telephone network operator Slovak Telecom (ST) plans to complete the digitizing of its network by the end of this year. Thus the company will offer all its clients the option to make use of advantages of services provided by the digital network. Simultaneously it will enable other licensed operators to offer carrier selection and carrier pre-selection services. Currently, 86 percent of the ST network is digitized. The remaining 14 percent of analogous exchanges will be replaced by Next Generation Network (NGN) technology, the company informed on Friday.

Banks in Slovakia Provided SKK 37.054 Bln. in Mortgages to April 2004

Banking houses in Slovakia provided SKK 37.054 billion in mortgages since the beginning of mortgage lending in Slovakia until the end of April this year. Banks signed 46,722 contracts with clients, the National Bank of Slovakia (NBS) informed SITA. At the end of the monitored period clients were drawing mortgages at SKK 31.887 billion, which represents 46,722 signed contracts.

Engineering Company Vural with 2003 Sales of SKK 187.2 Mln.

Engineering company Vural, a.s., Zilina closed the last year with sales for own production and services of SKK 187.2 million, which was by SKK 160,000 more than in 2002. The profit of the company grew by SKK 2 million to SKK 2.5 million. Operational profit of SKK 7.9 million was lowered by financial loss of SKK 5.3 million, informed the company.

Average Interest Rate 7.51 Percent on Bank Loans in April

The average interest rate on bank loans drawn in Slovakia decreased by 0.04 percentage points to 7.51percent from March to April. Average interest rates on business loans moderately fell by 0.17 percentage points to 7.07 percent, while prices of personal loans increased by 0.28 percentage points to 10.73 percent, the National Bank of Slovakia (NBS) informed SITA.

Ludova Banka to Hike Balance-Sheet Total to SKK 30.6 Bln. in 2004

Ludova Banka, a.s. plans to increase its balance-sheet total to SKK 30.6 billion this year. At the end of last year it stood at SKK 27.195 billion. Client deposits should reach SKK 24.341 billion in 2004, which would be an increase of SKK 9.2 billion y/y. The volume of loans to clients is projected at SKK 19.885 billion, which would be up 26.6 percent y/y, according to data published by the bank.

Slovakia’s FOREX Reserves Up to USD 14.5946 Bln.

Slovakia’s foreign exchange reserves increased by USD 1.2167 billion over the past week to stand at USD 14.5946 billion as of May 26. In particular, the USD 1.2236 billion growth in commercial banks‘ reserves to USD 13.393 billion was behind this increase. Conversely, National Bank of Slovakia (NBS) foreign exchange reserves dropped by USD 6.9 million to USD 1.2016 billion, the NBS informed SITA news agency on Friday.

Agrokombinat Torysa Production Dropped 17.4% in 2003

Last year farm and food products producer Agrokombinat Torysa, a.s. in Kosicka Polianka registered a y/y decrease in production volume of 17.4 percent to SKK 211.8 million. Agrokombinat’s revenues for goods sales represented SKK 25 million in 2003: almost SKK 13 million less than one year previously. The total economic result for Agrokombinat worsened by SKK 26.7 million, when it registered a loss of SKK 25.8 million after profit in 2002. Agrokombinat also expects a loss this year, due to unfavorable sale prices for hogs, shown in figures published by the company.

Accord Trencin Clothing’s Q1 Sales at SKK 252.5 Mln.

Clothing company Accord, a.s. Trencin reported goods sales of SKK 252.5 million for the first quarter of this year. Costs related to the goods sold amounted to SKK 226.5 million, leaving the trade margin at SKK 26.1 million for the first three months, informed company director Jaroslav Dobrotka.

Details Set Out for Drawing Agricultural Assistance from EU Funds

The monitoring committee of the Sector Operational Program Agriculture and Rural Development‘ for the years 2004 to 2006, at its first session on Thursday, approved the program annex. The annex stipulates details of measures laid down in the program, on the basis of which potential program users can apply for financial assistance, announced Agriculture Ministry spokeswoman Katarina Czajlikova.

Drukos Creditors Approve Sale Plan for Assets in Bankruptcy

Individual operational units of bankrupt unlicensed deposit company Drukos will be offered for sale as a whole. If no one shows interest in buying the company as a whole, it will be sold in parts, but only with creditor committee approval. Expert estimates of market value will have to be followed in dealings with the company’s real estate, according to a sale plan for Drukos‘ assets, passed at the creditors‘ meeting in Banska Bystrica on Friday. Creditors approved the plan, submitted by receiver Marta Todekova, with only moderate changes. Simultaneously, they elected a five-member creditor committee.

St. Nicolaus Distillery Output Dropped to SKK 580.4 Mln. over 2003

Output at the St. Nicolaus, a.s., distillery in Liptovsky Mikulas was SKK 580.4 million in the previous year: down SKK 97.1 million y/y. Company profit increased by SKK 1.2 million to SKK 2.4 million, informed the company. Operational profit was SKK 5.9 million, down SKK 12.1 million from 2002, while the financial loss reached SKK 562,000.

Fodder Producer Belar-Dunaj with 2003 Revenues at SKK 1.059 Bln.

One of the largest producers of animal fodder in Slovakia, company Belar-Dunaj, a.s., achieved last year total revenues amounting to SKK 1.059 billion, out of which the revenues for sale of goods were SKK 615.4 million, which represents y/y growth of 2.1 percent. With costs for sold goods at SKK 581.9 million the trade margin represented SKK 33.5 million, informed the company.

Dairy Laktis Zilina Ended 2003 SKK 56.6 Million in the Red

Dairy Laktis – Zilinske Mliekarne, a.s., Zilina ended the previous year with a loss of SKK 56.6 million, which was a significant decline from 2002 when the company reached an SKK 11.1 million profit. Output has dropped by SKK 112.8 million to SKK 802.4 million, informed the company. An operational loss of SKK 42.5 million, compared to an operational profit of SKK 23.5 million in 2002, was deepened by a financial loss of over SKK 6 million.

Investment Company 1. Garantovana SKK 1.315 Bln. in Red in 2003

Investment company 1. Garantovana, a.s. Bratislava closed last year SKK 1.315 billion in the red. The company showed a profit of SKK 1.9 million a year ago. 1. Garantovana made a loss from financial operations at SKK 1.027 billion in 2003. Revenues from sale of securities in the par value of SKK 985.6 million exceeded SKK 970.1 million. The loss from financial operations chiefly resulted from creation of provisions amounting to SKK 1.061 billion, according to data disclosed by the company. Performance of 1. Garantovana this year will largely be influenced by results of the police investigation against the company and its top managers.

Financial Company Druha Strategicka with SKK 550.1 Mln. Profit

Financial company Druha Strategicka, a.s., Bratislava closed the last year with a profit of SKK 550.1 million, while in 2002 the company reported a loss of SKK 396.4. The financial profit of SKK 559.6 million was reduced by operational loss of SKK 9 million. Financial revenues were SKK 501.9 million and financial costs were SKK 302 million, while reserves accounted to SKK 359.7 million, informed the company.

Only Shortest Deposits Traded on Money Market on Friday

Quiet trading on Friday focused mainly on shortest deposits on the money market. Remaining liquidity surplus of approximately SKK 5 billion forced banks to sterilize their resources in the central bank, thinks Tatra Banka dealer Michal Stano. Commercial banks deposited SKK 11.001 billion in their reserve accounts in the central bank, meeting the minimum reserve requirement on a cumulative basis at 102.04 percent, reported the dealer.

FOREX MARKET: Slovak Crown Posts no Movememnt against Euro on Friday

The Slovak crown’s exchange rate against the euro has not moved from the level of 40.04/40.06 SKK/EUR for the whole day on Friday. „Slovakia’s April trade figures have not influenced the exchange rate despite the fact that the trade deficit was better than expected,“ Slovenska Sporitelna dealer Juraj Zabadal told SITA. He assumes that the crown did not firm due to worries of the market about unrest in connection with the weekend NATO spring meeting in Bratislava.

Tire Company Matador Closed Q1 with Profit of SKK 106.7 Million

Tire manufacturer Matador, a.s., Puchov closed the first quarter of this year with a profit of SKK 106.7 million. Operational profit of SKK 174 million was lowered by financial loss of SKK 67.3 million, informed the company. Sales grew 22.5 percent y/y to SKK 2.43 billion, added value was SKK 733.5 million, while trade margin summed to SKK 115 million.

STOCK MARKET: Slovnaft Shares Firmed SAX Index to 194.55 Pts.

The Slovak SAX share index has strengthened on Friday, pulled by shares of Slovnaft refinery, by 0.03 percent or 0.06 points to 194.55 points. Turnover on the Bratislava Stock Exchange (BCPB) slightly grew from SKK 132.1 million on Thursday to SKK 526.4 million on Friday, with SKK 116.6 million in share trading.

Tatra Banka with Consolidated Profit of SKK 2.082 Bln. Last Year

Consolidated results show last year’s profit of Tatra Banka, excluding stakes of other owners, at SKK 2.082 billion. This is a decrease by almost SKK 500 million compared with the previous year. The balance-sheet total of the bank stood at SKK 137.28 billion in late December 2003. Tatra Banka should pay SKK 1.242 billion in dividends for the last year, according to data disclosed by Tatra Banka.

Land Buyout Threatens Hyundai/Kia Project , Economy Minister says

The Kia Motors carmaker plant, as well as the whole Hyundai Mobis logistics center construction is threatened, said Economy Minister Pavol Rusko at a press conference on Friday. Mr. Rusko explained that the problem resides in land buyout, with the Zilina Invest company purchasing only 48 out of the total necessary amount of 220 hectares so far. Land owners are complicating the situation, according to the minister, asking a price ranging from SKK 350 to 700 per a square meter. According to the expert surveys drawn up on the basis of the Judicial Engineering Institution methodology, the price ranges from SKK 103 to 146 for a square meter.

Financial Company Istrokapital Earns SKK 21.1 Mln. Profit in 2003

Financial company Istrokapital, a.s. Bratislava earned a profit of SKK 21.1 million last year, compare with a profit of SKK 21.7 million it showed in 2002. It made a profit from financial operations of SKK 38.5 million, while the operating profit exceeded SKK 13 million. Istrokapital’s revenues from sale of securities in the par value of SKK 647.2 million reached SKK 648.8 million. Yield interests amounted to almost SKK 41 million, while cost interests were slightly over SKK 11.2 million, according to data provided by Istrokapital to the Bratislava Stock Exchange.