Institut pro testování a certifikaci, a. s. Annual Report PDF

Institut pro testování a certifikaci, a. s. Annual Report 2014 Chairman of the Board of Director s: Ing. Jiří Heš Approved by the Shareholder s decision on 26 June Obsah Výroční zprávy společnosti

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Institut pro testování a certifikaci, a. s. Annual Report 2014 Chairman of the Board of Director s: Ing. Jiří Heš Approved by the Shareholder s decision on 26 June 2 Obsah Výroční zprávy společnosti Institut pro testování a certifikaci, a. s. Introductory Word by the Vice chairman of the Board of Directors 4 Key Financial Indicators of the Company 8 Company s Sphere of Business 9 Company s Competency 10 Overview of Membership in Associations 13 Company s Organizational Chart 14 Persons Holding the Key Functions in the Company 15 Company s Quality Policy 17 Company s Balance Sheet Comments 19 Company s Economic Results Comments 20 Major Clients 21 Company s Exports Comments 21 Auditor s Report 22 Foreign Branch of Institut pro testování a certifikaci, a.s. 26 Company s Balance Sheet 27 3 Dear Friends, Institut pro testování a certifikaci, a. s. (ITC) was founded as a joint-stock company in 1993 and its corporate structure has been preserved until today without any significant changes. Looking back at the past year 2014, I can t help thinking that our world is changing at an ever faster pace and I am not convinced that all of these changes are for the better. Things that we sometimes take for granted turn out to be fragile and require our day-to-day attention. For example, the things happening in Ukraine and in Russia (which are important export destinations for our Company) show us that in today s world everything is interconnected. Fortunately, the world is not black only and last year brought some good news, too. A preliminary estimate from February 2015 as regards the Czech GDP growth in 2014 looks optimistic, indicating the 2014 GDP growth at 2%. The growth was again driven by the manufacturing industry, in particular the manufacturing of means of transport, machinery and equipment. Another factor strongly contributing to this growth was the domestic demand for capital goods and the final consumption of households, which can be assessed as optimism, both in industry and with Czech citizens. This seems to be confirmed by a year-on-year employment growth of 0.8% in the 4 th quarter. The GDP growth also applies to the EU, which posted a growth of 1.4%. The euro area posted a nearly one-percent growth. All these results are better than what was expected. The estimated growth of real GDP in 2015 at 2.6% also looks positive. I consider the year 2014 as a good year for ITC, even though maybe not as successful as the years 2012 and Sales revenues reached CZK 195,509,000. On a year-on-year basis, they are down by CZK 12.7 million, but on the other hand they are up by CZK 1.05 million from the year It is the first time since 2006 that we registered a decline in sales. This result was influenced by several factors, in particular by the fact that 2013 was an excellent year in terms of sales revenues and the bar was set very high. Other factors, which I am mentioning further below, were objectively difficult to influence. Through prudent management and good configuration of cooperation with subcontractors, we were able to achieve cost reductions and, in 2014, ITC posted a profit of CZK 4,810,000. ITC continues to build on testing, certification and related activities - services. In 2014, there were no significant changes in terms of ITC s competences. In terms of services and achieved sales, the TOP 5 activities at ITC are services in the accredited laboratory, services of the authorized/notified body, services for the area of activities according to Act No. 202/1990 Coll., On Lotteries and Other Similar Games, certification of management systems and certification of products. Other services provided by our Company to customers in the Czech Republic, Europe and the entire world generated roughly the same sales revenues as in The service where we registered a considerable year-on-year decrease in sales revenues was the activities according to Act No. 202/1990 Coll., On Lotteries and Similar Games, recording a year-on-year decline in sales by CZK 11 million. This decline was especially caused by the legislative uncertainty of our current as well as prospective customers, stemming from the expectations about a new or amended Gambling Act. The situation is also influenced by the endeavours of some towns and municipalities to promote stricter regulation of gambling (sometimes even a prohibition) and by not entirely objective media hype 4 surrounding gambling issues, which is objectively adding to our customers uncertainty. Eventually, the above-mentioned situation resulted in a significant decline in the number of the newly assessed gambling (slot) machines and gaming equipment. At the same time, it is possible to register a substantial increase in the occurrence of illegal gaming equipment. However, in spite of these facts, the aforesaid activity was profitable for our Company in Another area where we faced a decline in sales in 2014 is the area of assessing the compliance of medical devices. A decrease in sales revenues by approx. CZK 3.6 million compared to 2013 is significant, especially when in the area in question there are ever growing and changing requirements that are directly driving up the costs related to this activity. It was also for this reason why the aforesaid activity posted a significant economic loss in It is up to us to do our utmost to bring ITC back on the path of growing sales in 2015, both the Company as a whole and its individual activities. The results for the 1 st quarter of 2015 have confirmed that this goal is realistic. The extent of industries which we serve has basically not changed compared to 2014 in terms of the share of applications and, subsequently, the volume of sales. The most important industries were the automotive industry, chemical industry (plastics, rubber, colours), light industry (footwear, textiles) and the testing of products coming into contact with foods. We must also mention ITC services, as an appointed authorized body in the field of the Lottery Act, the services of assessing conformity in the sector of construction products (including pipeline systems, hygiene goods), medical and electrical engineering products, certification of management systems, assessing the conformity of toys and the services of a calibration service center. In 2014, ITC continued to provide its services abroad through direct contracts and in cooperation with long-term partners in the territories of Belarus, Brazil, China, Croatia, India, Israel, South Korea, Hungary, Pakistan, Poland, Austria, Russian Federation and Turkey. In the long-term, foreign clients are most interested in certification services, compliance assessment of products pursuant to the relevant EU Directives, as well as quality management systems and voluntary product certifications. In 2014, the volume of sales from foreign cooperation reached CZK 63.8 million and the share of exports in ITC s total sales was 32.6%. Besides cooperation with partners from the business sector, ITC also has a long-term collaboration with universities. We trust that this cooperation enriches both sides through tangible results as well as through knowledge and experience from a different viewpoint. For example, for ITC it is a viewpoint of academicians and for universities it is a viewpoint from business practice. In 2014, we cooperated in various forms with the following universities: - Mendel University in Brno - Tomáš Baťa University in Zlín, Faculty of Technology; Faculty of Applied Informatics; Centre of Polymer Systems - Technical University in Liberec - UCEEB (University Centre for Energy Efficient Buildings of the Czech Technical University in Prague) - Palacký University in Olomouc Laboratory of Cell Cultures of the Faculty of Medicine 5 - Czech Technical University in Prague - Technische Universität Dresden For a long time, the portfolio of services provided by ITC has also included the provision of technical information and standardisation activity. In 2014, we were actively involved in dealing with tasks under the plan of technical standardisation of the Czech Office for Standards, Metrology and Testing (ÚNMZ), one of the examples being the creation of several sections for the website of the ÚNMZ (including database applications), which are a valuable source of publicly available information. This area also includes activities within SGP-STANDARD (Rubber and Plastic Industry Standard Association) and the creation of a new business website entitled Zákony a normy (Laws and Standards), which aims to increase the awareness among small and medium enterprises about technical standards and regulations, the compliance with which is of major importance when launching products to market. One of ITC s achievements is defending the competence of a qualified institute of the Ministry of Justice with a broad scope of authority. As regards projects, in 2014, ITC implemented and successfully completed a project entitled ITC Innovations of Thermal Tests. The goal of the project was to introduce and accredit procedures that would allow for the testing of physical and electrical quantities under an extreme thermal load. As part of the project, ITC acquired testing chambers for climatic tests and for heat shock tests. These chambers are complemented with cooling systems and specialized control software. The costs of the project were CZK 5.52 million. The project received a subsidy of CZK 2.25 million. The project results are currently in full operation also saw the payment of a subsidy for the project Innovation of Static and Dynamic Polymer Material Tests , which was implemented in This project was supported as part of the programme Innovation Vouchers of the Zlín Region , which was intended to promote cooperation between companies and universities. The project primarily focused on optimizing injection conditions of testing bodies for a pallet of newly developed plastic materials. Just as in other years, in 2014, to maintain competitiveness and to improve the quality of the services provided, ITC invested substantial funds into the buying of new testing equipment, whether through direct purchases or leasing. Largest investments included the acquisition of a climatic chamber for thermal and humidity tests from VÖTSCH, test rooms for cycle tests of sanitary facilities, shock chambers from VÖTSCH and other. Just for illustration purposes: in 2014, ITC acquired fixed assets with the acquisition cost of CZK 10.5 million, of which approx. CZK 8.5 million were investments in testing devices, whether new or existing. We are aware of the fact that the biggest added value is brought by our employees through their knowledge, invention, initiative and loyalty to our Company. Without their contributions, any such assets would be only a piece of metal which exists without any use. Therefore, we also make long-term investments in the expansion of knowledge and competencies of our employees. The system of training of ITC s employees is based on a countrywide system implemented through accredited worksites for employee certification. Most of ITC s employees hold their own personal certificate or confirmation on completion of a similar training course. 6 The coordination and development of new procedures is internally organized in the form of educational seminars, among other as part of accredited activities such as AZL, AKL, COV and COSM. This ensures that every employee in charge of conformity assessment regularly takes part in training courses related to his/her activities. In 2014, 14 internal training courses took place at ITC, which were attended in total by 368 of ITC s employees (this does not include training courses for individual centres, training of new staff and other events of a smaller scale). ITC s employees also took part in 64 external training sessions and seminars in a total extent of 234 man-days with the cost of CZK 534,000 (this figure also includes participation in conferences). Besides employee training our continued goal is to increase technical and legislative knowledge of customers. In 2014, we organized six training events, which were attended by more than 300 people. Activities focused on customer training in 2014: - Analytical pyrolyses, thermal desorptions and quantitative desorptions - Textile product complaints in theory and practice - Services in support of quality in the automotive industry - System of management of social responsibility of organizations: new way towards economic prosperity and sustainable development - Experience with testing and assessing the conformity of toys according to Directive 2009/48/EC on the safety of toys in practice - Training of foreign auditors procedures for assessing the conformity of medical devices To be successful today it is not sufficient to possess knowledge and perfect equipment, but it is also important to make others know what our Company has to offer and what it can do. One of the ways ITC is trying to do this is the participation in fairs and exhibitions. In 2014, ITC presented itself at 8 events focused on toys, construction, electrical engineering and electronics and the automotive industry which were held in the Czech Republic, Poland and Germany. In 2014, ITC had to face many obstacles and dealt with numerous complicated situations in many respects. Now I can already say that we handled most of them successfully and that we achieved results we don t need to be ashamed of. I want to say Thank You to all of our customers for their support. It continues to be our main goal to both maintain and further improve the standards of the services we provide. I want to say Thank You to all of our trading partners, external colleagues and employees for their contributions to the achievement of our good results in I look forward to our further cooperation and I wish you all a lot of success in RNDr. Radomír Čevelík Vice-Chairman of the Board of Directors 7 Key Financial Indicators of the Company Total Revenues tis. Kč of the ČR tis. Kč of which expo tis. Kč Value tis. Kč Staff costs tis. Kč Depreciation tis. Kč Profit for the period tis. Kč Assets tis. Kč Liabilities tis. Kč Equity tis. Kč Staff costs 151,5 161,4 161,7 Rations Sales / of employees tis. Kč Value / Equity tis. Kč Profit / Equity % 21,0% 16,9% 10,7% Liabilities / Assets % 47,4% 43,1% 42,6% Sales / Equity % 510,9% 491,0% 435,8% 8 Company s Sphere of Business Institut pro testování a certifikaci, a. s., Zlín (hereinafter referred to as ITC ) is a joint-stock company founded and existing pursuant to the Commercial Code in Since 2000, ITC is an independent joint-stock company with a sole shareholder the Czech company ITC-SERVIS, spol. s r. o. As at 31 December 2014, the sphere of business of ITC, Inc. was defined as follows: Sphere of business Operability certification of prize gaming machines and technical facilities necessary to run betting games, as well as the performance of the subsequent technical inspection of their operation; Measurement of pollutants and odours; preparation of scatter studies; Manufacturing, trade and services not included in Schedules No. 1 to 3 of the Trade Licensing Act. Sphere of activities: Activities of an authorized (notified) body for product conformity assessment pursuant to Act No. 22/1997 Coll., as amended, in the scope as defined in the authorization issued by the Czech Office for Standards, Metrology and Testing; Activities of testing laboratories; Activities of calibration laboratories; Certification of products; Certification of management systems; Performance of inspections; Testing of living and working environmental components; Sampling and examination of product health safety; Official measurements; Activities of a calibration service centre; Verification of regulated measuring instruments; Assessment of construction suppliers; Activities of an expert institute. 9 Kompetence společnosti The ITC s technical, organizational, personnel and legislative competencies for the above activities are based on the following appointments, authorizations and accreditations (as at 31 December 2013): Authorized Body No. 224 (see: Government Decree No. 173/1997 Coll. (as amended by the last amendment to Government Decree No. 329/2002 Coll.) laying down selected products for conformity assessment; Government Decree No. 163/2002 Coll. (as amended by the last amendment to Government Decree No. 312/2005 Coll.) laying down technical requirements for selected construction products (Directive 89/106/EEC); Notified Body No (see: dbody&refe_cd=epos_46625) Government Decree No. 336/2004 Coll. laying down technical requirements for medical devices (Directives 93/42/EEC, 2003/12/EEC, 2003/32/EEC), as amended; Government Decree No. 453/2004 Coll. laying down technical requirements for in vitro diagnostic medical devices (Directive 98/79/EC); as amended; Government Decree No. 154/2004 Coll. laying down technical requirements for active implantable medical devices (Directive 90/385/EEC); as amended; Government Decree No. 17/2003 Coll. laying down technical requirements for low voltage electrical equipment (Directive 2006/95/EC; ex - 73/23/EEC); as amended; Government Decree No. 616/2006 Coll. laying down technical requirements for products as regards their electromagnetic compatibility (Directive 2004/108/EC); as amended; Government Decree No. 86/2011 Coll. laying down technical requirements for toys (Directive 2009/48/EEC); as amended; Government Decree No. 21/2003 Coll. laying down technical requirements for personal protective devices (Directive 89/686/EEC); as amended; Government Decree No. 26/2003 Coll. (as amended by the last amendment to Government Decree No. 621/2004 Coll.) laying down technical requirements for pressure devices (Directive 97/23/EC); as amended. Notified Body No Notified Entity 10 Regulation of the European Parliament and the Council (EU) 305/2011 (CPR) (Construction products) Accredited Testing Laboratory No Accredited Testing Laboratory No Accredited Calibration Laboratory No Accredited certification body for management systems No Accredited certification body for products No Accredited certification body for qualification in the system of certified construction suppliers pursuant to Act No. 137/2006 Coll. Accredited inspection body No Operator of the Technical Standardization Association for Rubber and Plastics Industry (SGP - Standard) Technical Standardization Centre authorized by the Czech Standardization Institute Based on a decision of the Ministry of Justice ref. No. 163/2005-ODS-ZN/2 dated 25 July 2005, ITC is registered in the first section of the list of institutes qualified for expert activities in electronics, with the authorization covering expert assessments required by state authorities and self-government authorities for gaming machines and technical facilities necessary to run betting games and lotteries as regards hardware and software, expert assessments to verify the functional and technical requirements of cash registers including the fiscal memory; Based on a decision of the Ministry of Justice ref. No. 218/2004-ODS-ZN/16/2 dated 29 April 2005, ITC is registered in the second section of the list of institutes qualified for expert activities in air cleanliness, transport, economy, power industry, chemistry, leather and fur, packages, environmental protection, food industry, services, sport, construction, engineering, various technical fields, textiles, art crafts, water management, health care and agriculture; Authorization by the Ministry of Financeto perform expert assessments and to certify the operability of technical facilities and systems to operate lotteries and other similar games, and to perform the subsequent technical inspection of such operated facilities and systems; OPEL/GM recommendation as a testing laboratory for automotive components; Authorization by the Civil Aviation Authority L-3-061/5for verification tests of el
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