Business results of the VCES construction group for 2004 were again very good. Its consolidated profit before taxation exceeded CZK 102 million, while the sales revenues totalled over CZK 3.1 billion. The company’s business results have recently been confirmed by an independent audit carried out by Pricewaterhouse Coopers. The group’s outstanding results confirmed its firm position among leading construction companies in the Czech Republic.



Selected economic indicators of the VCES Group for 2004 (in CZK)
(under Czech Accounting Standards)


Profit from operations CZK 109 million

Profit before taxation CZK 102 million

Added value per employee CZK 478,000

Sales revenues CZK3,189 million

Number of employees 1 030

Shareholders´equity CZK 339 million


VCES a.s. contributed most to the group’s favourable business results: the company‘s sales revenues for 2004 stood at CZK 3,085 billion and its pre-tax profit totalled CZK 72,3 million.
The group’s currently discussed medium-term plan mirrors an optimistic outlook for the future in the construction sector. It clearly shows that the VCES Group will reach a substantially higher turnover, and not only this year but in the coming years, too. New contracts worth over CZK 3.3 billion were won in 2004, and this represents a sufficient contract volume also for the year 2006.



Ballance sheet, Profit and Loss Account (VCES a.s.)

Ballance sheet, Profit and Loss Account (VCES HOLDING s.r.o.)