Liepajas metalurgs                                              01.11.2005.



Management report of JSC " Liepajas metalurgs" 



The economical activity of nine month of the year 2005 for JSC "Liepājas 

metalurgs" gives the profit in amount of 1,4 million LVL, but it is for 3,2 

million LVL less than compared this result with profit of nine month of last 

year. These changes are involving with the price level in world’s market of 

ferrous metal. At this year the selling prices in world’s market of ferrous 

metal are increased compared with the prices in the year 2004. The selling 

price of realized armature of JSC "Liepajas metalurgs" are about 2,5% less 

than in previous year, but production costs (prices of raw materials) are 

about 12,9% more than in previous year.

Net  turnover  of  nine  month  this  year  is  about  108,3  million.  LVL, 

it  is  about 2,1 million LVL more than in the same time period in the year 

2004. The explanation of growth of net turnover is following: at this year 

are produced armature for 5109 t more than in previous year and realized for 

24 608 t more than in the year 2004. Partly the realization volume depends 

from customer’s desires and possibilities to receive the previously ordered 

goods.

The activity of JSC “Liepajas metalurgs” has not any changes. The modernization 

of plant and the construction of new continuous casting equipment are in progress. 

The discussions of technical problems about a change of open furnace to electrical 

furnace are in progress too.



Joint-stock company "Liepajas metalurgs" 

Chairman of Board	

/V.Terentjev/

01.11.2005.

Liepaja