Situation in 2008

Until August 2008 the positive tendency from previous years had been continued. Development of production fall was by year's end dramatic. If in August fell YoY output of rolled material by 6,4%, in December it was already by  54% and  in full year  by 5%. Final production fell by 5%, rolled material by 4,9%, long products by 4,6%, flat products by 12%, tubes by 7,7% (seamless   by 7,5%, welded by  7,9%).
Companies at the year end have been held down the output on purpose, too.
Operating profit fell YoY by near 54%, profit before taxes by 47%.
Planned investment has been fulfilled in spite of profitability fall. Present situation still provides sufficiency of means for the further development.