Pursuant to unaudited data, excluding the restructuring costs, EBIT DA for year 2003. (profit before interests, taxation and depreciation) amounts to 16,3 millions of kunas, and EBIT (profit before interests and taxation) is realised in the amount of 1,6 millions of kunas. The sales results are based upon the permanent trend of production level growth of the previous years. In year 2003. Elka realised a total sales of 20.700 tons. 63,1 % of the year 2003. sales was realised in Croatia, and 36,9 % abroad, mostly in Great Britain and Ireland (11,2 %), followed by BiH (8,7 %) and Slovenia (6,3 %). The major part of the year 2003. sales is related to power cables (55,2 %), and telecommunications and data cables (13,1 %). The special cables participate therein with 12,9 %, the low voltage cables with 11,7 % and the ropes with 7,1 %. Improved production results in year 2003., and specially the recovery of the last two quarters of 2003., support optimistic anticipations for year 2004., when it is expected that the cable segment of Elka’s business operations will achieve better sales results and profit than in year 2003., under contemporaneous completing of implementation of the cable industry adapted SAP/R3 system.

 According to unaudited data, in year 2003. Elka d.d. realised a total sales in the amount of 419,4 millions of kunas. The weaker results of the first half-year 2003. were compensated by increased sales volume in the second half-year. In relation to the first half-year, Elka has thus also improved the other business results for the entire year, in spite of a 13-percent reduction of the employees’ number in relation to the year 2002. (595 employees in year 2003. in relation to 682 employees in year 2002.), and notwithstanding the high restructuring costs (10,7 millions of kunas).