Gevorkyan - Annual report 2018

annual report 2018

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contents 1. Company presentation.....................................................................6 2. structure of members and the company boards........................8 3. organizational structure and employment rate.....................10 4. Business, visions and plans of Gevorkyan, s.r.o.......................14 5. strategy of gevorkyan, s.r.o........................................................16 6. activities of the company and their impact on enviroment....20 7. economical ration and financial situation...............................22 8. Risks of company future development.......................................24 9. statement of corporate governance..........................................26 10. milestones....................................................................................28 11. annexes.........................................................................................30

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company presentation In 1996 GEVORKYAN, s.r.o. was established as a family company in Banská Bystrica.

Its founder and a present-day majoritarian owner is an aircraft engineer Dipl. Ing. Artur Gevorkyan, origin of Armenia who built the company on a “green field”. It has built on experience of two generations of a Gevorkyan family in the powder metallurgy field. The company is a leader in the powder metallurgy field of a present day Europe. It belongs to the group of the most innovative companies in this field worldwide.

It produces different types of components manufactured by powder metallurgy (PM) and metal injection moulding (MIM). Components are used in automotive and oil industry, hand tools, locks and security systems, garden and agricultural technique, air conditionings, medicine and health service, cosmetics and fashion industry.

The company does not have a business unit in foreign countries.

The company completed hundreds of audits performed by customers. It became a global supplier of multination companies which run their production plants all over the world. In 2018 it successfully affirmed the IATF 16949 certificate for automotive industry. During past years methods and processes of individual departments has been systematized. Efficiency of general functioning increased.

In order to secure a company long-term growth was made a decision to accept a funding from investing companies. It was performed in the form of mezzanine funding with a due date of six years from fund companies Jeremie Co-Investment

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Fund, Limerock Fund Manager acts on behalf of the fund, and BHS Fund II – Private Equity. Each of the fund companies acquired a 3,5 percent share in the company.

GEVORKYAN, s.r.o. is the first Slovak SME company which issued public bonds on the Bratislava stock market. Securities issued by the company do not have a restricted transferability. At the same time, the company financial records of the year 2018 were audited by the Ernst & Young Slovakia, spol. s.r.o. SKAU license no. 257.

The company requested an irretrievable financial contribution of 3,4 mil. Euro in 2016. The contribution was a part of the Operational program 313300 – Research and Innovations. Investmens will be used for additive manufacturing (3D printing of metal materials) in connection to strategies engaging to the Industry 4.0 At the beginning of 2017 the company obtained an application acceptance of non-repayable financial contribution. Investment helped to increase production capacities in 2018 and the main aim is to continue in this trend in 2019 – 2020.

GEVORKYAN, s.r.o. is a holder of many prestigious Slovak and international awards, e.g.: Absolute victory in the „EPMA Components Awards 2018”, category Structural Parts, which is focused on the most innovative solutions of the powder metallurgy field with a contribution to cost savings, quality improvement, stimulation of further usage of PM, excellence, novelty and new ideas.

Titles of the „National Champion“, „National Public Champion“ and „Ruban´d Honneur“ in the European Business Awards (EBA) 2016/2017. For more than 10 years the EBA focuses on the most innovative companies in the old continent by supporting their success, innovations and ethics. Its main sponsor is the RSM International, the sixth biggest network of independent audit, tax and consulting companies in the world.

DIPLOM

1. miesto

„Diamonds of Slovak Business“, category of the most dynamic growing company in the middle of Slovakia for years 2012 and 2013.

GEVORKYAN, s.r.o., Banská Bystrica Najdynamickejšie rastúca spoločnosť Stredné Slovensko

„Fachmetall QM Kontext Award“ obtained during a trade fair specialized in powder metallurgy in Basel, Switzerland. GEVORKYAN, s.r.o. won the „Quality category“ as the only one company from the European Union and absolutely the first company with specialization in powder metallurgy in the entire competition history. „Plant of the Year“ from Fraunhover Institute and EXIM bank Slovakia for a progressive business model.

Enlistment to the “TOP 10 companies in Banská Bystrica region” for 2016 announced by the Slovak economy newspapers in cooperation with the Deloitte as a guarantor and data expert partner Bisnode.

GEVORKYAN, s.r.o. is a member of the European (EPMA) and international (APMI) associations of powder metallurgy. It has a perfectly equipped laboratory and development department.

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structure of members and the company boards 75,5% Artur Gevorkyan

3,5%

JEREMIE Co-Investment Fund, s.r.o.

3,5% BHS Fund II. - Private Equity, investiční fond s proměnným základním kapitálem, a. s.

17,5%

Mikhail Andelman

The company has following authorities – the general meeting of shareholders and the managing director.

The general meeting of shareholders is the highest company board. Its members are all shareholders. Exclusive scope of a general meeting of shareholders includes refusal of acts made by founders before the actual company establishment; approval of annual financial statements; dividing profits and compensation of loses; decisions connect to changes in articles of partnership regarding the business name, headquarters, type of business, duration of the business, company rights and responsibilities, company performance, general reserve, specification of reasons to dissolve a company; decisions regarding increasing or decreasing of the capital stock by various man-

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ners; nomination, removal or remuneration of managing directors; excluding of shareholders due to deposit non-repayment and support for pay of loses; dividing or transfer of business share; demerger or transfer of the business share, if the company or any other (potential) subsidiary company lay an offer to the court regarding the file for bankruptcy of the company, decision about the company entry to another business company, establishment of company new organizational parts; liquidation, merger or demerger of a company or its legal status; approval of the selling contract or its part according § 476 of the Commercial Code.

Each shareholder has one vote for every 1% from his business share. General meeting of shareholders have 2/3 of all votes. The decision of the meeting of shareholders is accepted by simple majority of votes from presented shareholders at the general meeting, if the law or the articles of partnership do not establish other. General meeting of shareholders is summoned by managing directors at least one time within one year no later than 30.6. by written invitation 15 days before it takes action at the very latest. Negotiation goes according to a program which is a part of the invitation.

Each of shareholders has the right to be part of the general meeting in person or through his authorized representative. General meeting of the all shareholders decides about naming, removing and remuneration of managing directors and shareholders. It also adjusts duration of their period of services in more detailed way.

GEVORKYAN, s.r.o. owns and interest at the GPM Tools (Gevorkyan Powder Metallurgy Tools) which specializes in production of tools for powder metallurgy. It is the only one tool factory in this field in the central Europe.

2012

2011

Finalista súťaže

Finalista súťaže

Podnikateľ roka 2012

Podnikateľ roka 2011

Artur Gevorkyan GEVORKYAN, s.r.o.

Artur Gevorkyan GEVORKYAN, s.r.o.

Stan Jakubek vedúci partner Ernst & Young

Tomáš Bel predseda poroty Podnikateľ roka 2010 Slovenskej republiky

Stan Jakubek vedúci partner Ernst & Young

Ľuboš Fellner predseda poroty Podnikateľ roka 2011 Slovenskej republiky

Bratislava, 28. februára 2013 Bratislava, 29. februára 2012

The company strategy is defined and realized by majoritarian copartner Dipl. Ing. Artur Gevorkyan, an aircraft engineer who worked on development of composite materials for military air forces. He is an owner of many patents and holder of the know-how which represents a base of the company development as well. His longtime hard work and unusual business story were awarded in the finale of the competition “Businessman of the Year” in 2011 a 2012.

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ORGANIZAtional structure and employment rate The company employed 159 employees at the end of 2018. Traditionally, 10% of employees work at the Research and development department (R&D). It offers attractive and stable job positions for qualified workers with adequate education. The company has a multinational team. Key managers have experiences from different industries.

Special wide spectrum of social program covers real needs of employees from material help during long-term sick or maternity leave, as well as refunding of accommodation costs and travelling costs or contribution for remedial procedures.

Special program focusing on contribution of young and talented employees continued in 2018.

It comprise the process of offering a long-term loans (up to 30 years) for purchasing a flat, house or to general reconstruction of a property.

Great deal of emphasis is put into continual education of employees. All engineers and designers regularly visit international fair-trades. They attend powder metallurgy trainings and courses in various countries as well. Experts from supplying companies are invited to regularly organize internal courses. Its aim is to present new information connect to material development, manufacturing technologies and machines. Integral parts of com-

Traditional weir of the Hron River

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pany functioning are regularly organized meetings with fascinating personalities from business life, e.g. Ján Košturiak or Ivo Toman. At the same time, original principles of the company are presented during trainings, conferences, courses and various meetings (e.g. Ministry of Foreign and European Affairs of the Slovak Republic, IPA Slovakia, Happy Company, Management Live, Young Entrepreneurs Association of Slovakia, etc.).

The company closely cooperates with the Slovak Chamber of Commerce (SOPK) and Deutsch-Slowakische Industrie-und Handelskammer (German-Slovak Chamber of Commerce), particularly in connection to conferences and educational excursions organized in the company focusing on technologies. Participants of mentioned meetings are not only foreigners, but also Slovak businessmen. The company cooperates with the Technical University in Zvolen and the University of Matej Bell on a long-term basis.

Sign which is situated above the entrance of the company.

GEVORKYAN, s.r.o. intends to broaden already existed cooperation from plant excursions and technical lectures for Slovak and foreign students to mentoring of their final thesis. Students would solve real problems of development and production. Technical education and practical usage of acquired knowledge is a key aspect for the company. A very natural thing and part of the company policy is support of a dual education. Students of the Technical Academy in Zvolen are part of all departments, from development up to the production during their practice. They verify their knowledge in practical situations.

The company plans to increase the number of its employees to 165-170 during years 2019-2020.

The company received an award “Inspirational project” in the competition Via Bona Slovakia 2014, category of the “Great Employer”. The company was awarded as the “Health Company of the Year” from insurance company Union for significant contribution to the care of its employee’s health in 2016. In 2018 it reached the 4th place in the category Production companies in next season of the mentioned competition with focus on employees.

It offers huge possibilities of leisure-time activities to its employees which create an inseparable part of activities supporting a positive work environment and strengthen the team, e.g. sport days focused on employees and their families, the Christmas party, the traditional weir of Hron river, visits of pet shelters or foster homes and many others.

Research and development team, GEVORKYAN, s.r.o., magazine Forbes, 2016

Development of number of employees 2010 2011 2012 2013 2014 2015 2016 2017 2018 forecast 2019 forecast 2020 forecast 2021

70 70 83 120 190 157 143 164 159 165 170 175

Nadácia Pontis ďakuje spoločnosti

GEVORKYAN, s.r.o. za nomináciu na ocenenie Via Bona Slovakia 2014 v kategórii Skvelý zamestnávateľ a na základe hodnotenia komisie jej udeľuje označenie Inšpiratívny projekt.

Lenka Surotchak riaditeľka Nadácie Pontis

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organizational structure

managing director (K1)

production department compacting

design

sizing

development/ technical preparation of production

mim

automatization robotization and informatics

sintering and finishing

machining

maintenance

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production controlling

engineering department

quality department claims

LABORATory

technical control, Input & output control

director (K2)

enviromental department

sales department planning & logistics

purchasing

financial department human resources

packaging

financial

sales

financial controlling

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business, visions and plans GEVORKYAN, s.r.o. is on the market for more than 22 years. It successfully fulfils expectations of its customers using long-term experience in a given field.

Team of GEVORKYAN, s.r.o., Zisk manažment magazine, 2017

The company is owner of the know-how. 17 engineers work at the development department. They develop more than 150 new products per year. The company cooperates with the Slovak Academy of Sciences and the University of Cambridge. It also works with the Research Institute in Sweden and Canada. Thanks to the strong development the company enlarges its customer portfolio for about 10 new customers per year. The company is a developing supplier for majority of its customers.

Majority of its production is developed directly in the company. It is the only one supplier for almost 100% customers. The company is very often addressed by customers with special requests. They are interested in development of products which are not available on the market. The company reached world uniqueness in products which no one else produces by powder metallurgy.

According to the uniqueness of manufacturing processes and offered production has the company strong business contacts on both sides – at material delivery and at sales. In present time, the company offers its products to more than 30 countries in the world from Brazil, Mexico, USA, through the whole Europe, up to the Israel, China and India. Company products could be found in automobiles from Dacia to Mercedes; as well as in exclusive branches as Porsche or Bentley; in brand cosmetic like Versace or Hugo Boss: in hand tools for wide public and professionals like Black & Decker, Bosch or Dewalt; in agricultural technology as John Deere, Deutz, Komatsu; in oil and

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medical industry. Evidences of expansions to new markets and huge diversification of the manufacture are contracts made in the latest period of time with companies from various branches of industry.

The main priorities of the year 2018 were enlargement of the department of automation, as well as general automation of the production. These important contributions increased effectiveness and speed of small manual works. Automated sorting camera system were enlarged as well under the supervision of the quality department. An exceptional contribution was enlargement of the metallographic department within unique company laboratory. Production capacities were enlarged at pressing stage of both technologies - powder metallurgy and metal injection moulding.

The company made a significant progress in implementing of the information system. The company reached positive results with the Hot Isostatic Pressing (HIP) technology after long and demanding development. HIP is a process of densifying casts and sintered parts at high pressure and high temperature. At the same time, the company regularly uses 3D technology for printing spare parts in the production. This way the delivery time of spare parts is shorter and the effectivity of manufacture is multiplied.

Department of strategic purchasing developed direct contracts of gas purchasing at the exchange.

From the beginning of 2018 the company achieved various savings. It plans to strengthen its position of the leading innovative manufacturer in the powder metallurgy field. It will continue developing complex products with a high added value and progressing with diversification of its assortment by developing PM and MIM technologies, infiltrates other branches of industry and new markets.

67% EURopean union

countries

12% USA 11% MEXIcO, BRAZil, IsRAEL 10% chiNA, INDIA

28% locks and security systems 28% automotive industry

sectors

16% oil industry 11% hand tools 9% compressors 8% cosmetic, medicine and agriculture

50% Structural parts 24% special materials for oil industry

TECHNOlogies

11% SOFT MAGNETIC 10% MIM 5% bearings

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strategy of Gevorkyan, s.r.o.

The company strategy is based on the plan to secure its best growth and development.

The company creates where one technology is already ending and another one has not start yet. At the board-line between various technologies.

PM and MIM technologies are situated under one roof. This fact makes from the company a European uniqueness.

Company products are not strictly attached to only one industry. Parts are used in automotive industry, hand tools, locks and security systems, oil industry, garden and agricultural technique, compressors, medicine and health service, cosmetic and fashion industry. It is a flexible company. It does not sell products, but rather solutions to its customers. 50% of company products have never been made by powder metallurgy before anywhere in the world.

you can find products of our company also here:

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the number of aquired potential customers

The target of marketing department for 2018 was to secure exact number of potential customers within the year. The figure was determined at the beginning of the year. In 2018 was the target to acquire 16 potential customers. The target fulfilment is quarterly analyzed, together with corrective actions determination. Results of the marketing department of 2018 are clearly presented in table and chart below.

january february march april may june july august september october november december total target

5 2 2 4 1 0 1 0 0 1 2 1 19 16

potential customers for year 2018 The number of contacted potential customers

The number of real gained potential customers

TARGET

JANUARY

30

5

2

customer xy1 – automotive industry; customer xy2 – automotive industry; customer xy3 – bicycles and electro bikes; customer xy4 – sports guns; customer xy5 – home appliance

FEBRUARY

30

2

2

customer xy6 – door and window systems, locking systems; customer xy7 – locks and locking systems

MARCH

40

2

2

customer xy8 – various components; customer xy9 – automotive industry, hand tools, railway and aircraft industry

APRIL

40

4

2

customer xy10 – perfumes, cosmetics; customer xy11 – industrial components; customer xy12 – automotive industry; customer xy13 – aircraft industry

MAY

40

1

1

customer xy14 – manufacturing of various components

JUNE

30

0

1

JULY

30

1

1

AUGUST

30

0

1

SEPTEMBER

40

0

1

OCTOBER

40

1

1

customer xy16 – industrial components

NOVEMBER

40

2

1

customer xy17 – defense; customer xy18 – industrial components

DECEMBER

15

1

1

customer xy19 – automotive industry

405

19

16

2018

EVALUATION OF THE YEAR 2018

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Acquired customers

customer xy15 – drives, transmitters, electromagnetic components

The total value of evaluated projects in 2018 represented 110,40 mil. Euro (annual turnover for project). From this sum were confirmed orders from customers together with new launched orders in the sum of 5,31 mil. Euro per year which represent 4,81%.

potential projects of 2018 potential annual turnover in € 110 358 759€/year in total 100% 5 305 344€/year accepted by customers 4,81% communication 93,91% 103 638 834€/year 1 414 580€/year unsuccessful 1,28% target of realized projects 6 000 000€/year

the list of customers whose projects were accepted in 2018 new customers (from marketing department) CUSTOMER

COUNTRY

SECTOR/INDUSTRY

Za1

GERMANY

automotive

Za2

GERMANY

hand tools

Za3

GERMANY

construction industry

EXISTING CUSTOMERS CUSTOMER

COUNTRY

SECTOR/INDUSTRY

Zz1

AUSTRIA

locks

Zz2

POLAND

automotive

Zz3

PORTUGAL

automotive

Zz4

BULGARIA

locks

Zz5

SLOVAKIA

industrial systems

Zz6

AUSTRIA

compressors

Zz7

CZECH REPUBLIC

electronics

Zz8

HUNGARY

professional hand tools

Zz9

GERMANY

automotive

Zz10

GERMANY

professional hand tools

Zz11

AUSTRIA

house appliances

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activities of the company and their impact on enviroment Health and safety at work together with environment belong to the most important values of the company. A high respect of the environment and the company choice to continue in this development proves a fact that highly educated professional responsible for health, safety at work and environment are part of the company.

Specialists of the company are constantly working on reinforcement of the effectiveness of natural sources exploitation. The heat from manufacturing process is used for heating of the company premises during a winter time. Another project for next year is an installation of heat recuperates with aim to take use of heat from a compressor station for heating industrial waters and to heat office premises.

GEVORKYAN, s.r.o. is certified to the system of environmental management STN EN ISO 14001:2016. The company successfully performed a recertification audit in 2018.

The company does not present other non-financial information about development, proceedings, position and impact of activities of the accounting entity on environmental, social or employment area, information in connection to adherence to human rights and information about battle against corruption and bribery because it does not meet the criterion of the number of employees stated in ยง 20, paragraph 9, collection of accounting law.

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the company recycles more than 90% of waste material or use it again.

By these means the negative impact on enviroment is decreased.

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economical ratio and financial situation In 2018 the clean profit in the amount of 1 053 924 Euro was achieved, which the company proposes to divide in the following way – 5% legal reserve fund, 95% to VH past periods. The company does not plan to pay any dividends.

Company equity is made of deposits of business partners and it is fully payed of.

2013

2014

2015

2016

2017

2018

Revenues from products and services

13 008 904

17 100 702

19 851 567

24 301 141

28 582 112

37 401 725

Production margin

3 737 531

6 512 635

8 385 368

8 254 949

9 855 951

12 030 550

EBITDA

2 259 169

4 150 215

5 626 297

5 477 587

6 624 921

7 058 415

120

190

157

143

164

159

Total assets

36 267 375

46 078 263

61 622 121

62 953 157

74 323 070

83 044 497

Equity

19 208 876

22 527 841

27 548 378

22 185 312

27 117 945

28 171 869

Registered capital

11 137 863

13 924 472

13 924 472

13 924 472

13 924 472

13 924 472

Gross profit

1 002 196

1 004 316

1 106 658

1 084 726

5 318 401

1 775 164

744 744

742 379

815 619

733 669

4 932 632

1 053 924

Profitability of revenues

5,7%

4,3%

4,1%

3,02%

17,26%

4,7%

Net profit/ Registered capital (%)

6,7%

5,3%

5,9%

5,3%

35,4%

7,6%

Company basic indicators

Number of employees (average registered)

Net profit

Costs for development Cost of personnel training (EUR) Costs of research and development (EUR)

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2012

2013

2014

2015

2016

2017

2018

7 481

8 145

8 813

49 200

54 300

26 018

14 307

340 865

361 241

464 152

980 000

960 500

955 000

1 041 031

Company name

GEVORKYAN, s.r.o.

Seat

Zvolenská cesta 14, Banská Bystrica 974 03

Day of establishment

20.1.1997

Legal form

Limited Liability Company

Business activities

Activities in the field of powder metallurgy

revenues and investments 2008

3 944 (in thousands euro) 2 430 000

2009

151 646 (in thousands euro) 2 460 000

2010

1 786 740 4 800 000

2011

5 060 541 7 540 000

2012

2 054 181 10 900 000

2013 2014 2015 2016 2017 2018

5 322 689 4 002 626 11 276 220 6 917 278 8 954 232 2 886 775

forecast 2019

3 928 537

forecast 2020

4 471 124

forecast 2021

2 332 514

forecast 2022

2 465 483

forecast 2023

2 657 235

revenues (in mil. euro) investments (in mil. euro)

13 000 000 17 100 000 19 900 000 24 300 000 28 600 000 37 401 725 41 635 000 46 665 000 51 820 000 58 527 000 64 554 540

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risks of the company future development Up to the present day no significant risks exist which would vitally endanger the functioning of the company. SWOT (strengths, weaknesses, opportunities and threats) analysis of weak and strong company features, together with evaluation of potential threads and opportunities are part of the risk management of the company.

One of the most effective tools is FMEA (Failure Mode and Effects Analysis) used for risk revelation. The company has a regular risk analysis of individual processes, as well. They are itemized in process cards together with evaluation of the risk corrective commands and analysis of corrective commands effectiveness.

Financing of the operation was divided into 2 main financing banks. Each of them has its own group of customers/projects.

For risk elimination of deliveries failure of basic materials for production the program for diversification of suppliers of metal powders was realized.

New backup electricity sources were installed to

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the CNC control units. For decreasing of a risk of unpaid invoices from customers, GEVORKYAN, s.r.o. enlarged its cooperation with insurance companies Coface and Euler Hermes in securing debts and analyzing of business partners.

At the same time, it enlarged contracts of insurance responsibility of damage due to a defective product. After finishing of the accounting period 2018 there were no occurrences of special significance which would require an announcement in the annual report. The company does not present a description of diversity because it does not meet at least two criterions stated in ยง 20, paragraph 13 of the accounting law.

SWOT analysis strenghts High level of customer diversification according countries and segments.

High potential of business increase with new potential customers and realized projects.

Unique combination of all alternative technologies of powder metallurgy (sinter, MIM, HIP).

Solid reputation at the market and between customers.

Own production premises with possibility of 300% increasing.

Fast and effective problem-solving team.

Possibility to increase the volume of production.

Backup machines in case of a machinery breakage.

Fast adaptation to new conditions.

Free capacities in the production.

Production robotic automatization.

Strong and flexible suppliers.

Strong R&D department.

Own tool production.

Modern equipment.

High educated staff.

weaknesses High percentage of NOK parts during the development stage of MIM technology.

Existence of manual work in the production (mainly for low-series orders).

opportunities More effective usage of trained employees.

Flexibility of own tool production.

Usage of the top modern technologies.

Unique KNOW-HOW of the company.

High savings of customers in case of projects where GEVORKYAN, s.r.o. replaces conventional technologies (e.g. casting, machining, etc.) with powder metallurgy.

Worldwide unique opportunity to combine 3

different technologies (sinter, MIM, HIP) in one company during individual steps of the production process.

High potential to grow on the market in connection to market growth and almost no competitors in the central Europe.

Decreasing of production costs of individual steps.

threats Stoppage of customers assembling lines in connection to the fact, that GEVORKYAN, s.r.o. is almost 100% supplier for most part of its customers.

Lack of qualified staff on the market.

Only one supplier for some very specific materials.

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statement of corporate governance The code of the company governance is a part of the code of ethics, quality policy, as well as part of the quality handbook. The code of ethics is published for public at the company website.

All information about governance methods are part of the quality handbook, which is an important internal document of the GEVORKYAN, s.r.o. The description of main systems of internal control and risk management in connection to the financial statements is stated in 8. part of this annual report. Information about activities of the general meeting and its authorities is stated in the 2. part of this annual report. Information about constitution and activities of the company authorities is stated in 2. part of the annual report.

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Milestones of gevorkyan Company 1996

ESTABLISHMENT OF THE COMPANY

1997

FIRST PRESS AND FIRST FURNACE

1998

GENERAL REPARATION OF MACHINES

1999

FIRST INJECTION PRESS

2003

OWN TOOL PRODUCTION

2005

HEAT TREATMENT SECTOR

2007

CNC MACHINING SECTOR

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2010

OWN PRODUCTION HALL

2011

ENLARGEMENT OF PRODUCTION CAPACITIES

2012

LAUNCHING OF MIM TECHNOLOGY

2013

DEVELOPMENT OF MIM TECHNOLOGY, SIGNIFICANT PROGRESS OF R&D DEPARTMENT

2014

GREAT EMPLOYER, VIA BONA SLOVAKIA

2015

LAUNCHING OF HIP TECHNOLOGY, ENLARGEMENT OF PRODUCTION CAPACITIES AND WAREHOUSE FACILITIES

2016

DEPARTMENT OF AUTOMATIZATION AND INFORMATIZATION

2017

EUROPEAN BUSINESS AWARDS VICTORIES

2018

PM COMPONENT AWARDS VICTORY IN STRUCTURAL PARTS CATEGORY ORGANIZED BY EPMA AND EVALUATED BY AN EXPERT JURY 29

CERTIFIcates

CERTIFICATE The Certification Body of TÜV SÜD Management Service GmbH certifies that

GEVORKYAN, s.r.o.

Továrenská 504 976 31 Vlkanová Slovak Republic

has established and applies a Quality Management System for

Production and sale of powder metallurgy parts.

Heat treatment.

An audit was performed, Report No. 707054083.

Proof has been furnished that the requirements according to

ISO 9001:2015 are fulfilled.

The certificate is valid from 2017-10-11 until 2020-10-10.

Certificate Registration No.: 12 100 52698 TMS.

Product Compliance Management Munich, 2017-10-11

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CERTIFICATE The Certification Body of TÜV SÜD Management Service GmbH certifies that

GEVORKYAN, s.r.o.

Továrenská 504 976 31 Vlkanová Slovak Republic

has established and applies a Quality Management System for Production of powder metallurgy parts.

Heat treatment (without Product Design as per Chapter 8.3).

An audit was performed and has furnished proof that the requirements according to

IATF 16949

First Edition 2016-10-01 are fulfilled.

Issue date: 2017-10-11 Expiry date: 2020-10-10 Certificate Registration No.: 12 111 52698 TMS IATF Certificate No.: 0275622

Product Compliance Management Munich, 2017-10-11 Page 1 of 1

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Seat: GEVORKYAN, s.r.o.

Zvolenskรก cesta 14 974 03 Banskรก Bystrica Slovakia Plant adress: GEVORKYAN, s.r.o.

Tovรกrenskรก 504 976 31 Vlkanovรก Slovakia marketing@gevorkyan.sk www.gevorkyan.sk 34

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