Report of the Board of Directors on the Activities of the Company in 2017
In 2017, TECHO, a.s. pursued its activities fully in accordance with its subject of business declared in the Commercial Register.
TECHO, a.s. achieved a profit (excluding received dividends) of CZK 20 million, which was approx. CZK 5 million below the comparable figure for 2016. This was achieved at a time when the Czech National Bank ended its exchange rate intervention, and subsequent exchange rate fluctuations had a significant negative impact on the results.
The largest portion of revenue was generated from projects for Key Accounts, both in the local market and abroad. The ŠKODA AUTO project includes the delivery of own products and services, while the ERSTE (Česká spořitelna) project mainly involves the delivery of fit-outs.
The financial results of the company after tax for 2017 were CZK 31million, of which CZK 11 million represents dividends received from subsidiaries.
In 2017, investment into tangible and intangible fixed assets stood at CZK 12 million.
The company has an environmental management system certified in accordance with ISO 14001:2005, and in January 2017 it successfully passed a recertification audit.