Central and Eastern Europe à la carte - Raiffeisen Zentralbank ...

RZB 2006
F.J. Elsner & Co. GesmbH and F.J. Elsner Trading GesmbH. These two companies make up the
Handelshaus Elsner trading house, which engages in traditional East-West trade from its base in
Vienna in cooperation with its representative offices and branches in Beijing, Kiev, Miami, Moscow,
New York, Riga, Sofia and Varschez. F.J. Elsner & Co. GesmbH mainly carries on agency business
in the paper and cellulose sectors and trades in plywood, and it operates the only remaining
refrigerated warehouse in Bulgaria (which will mainly be used to store third-party produce once the
remaining stock has been sold off). The company had an average of 90 employees (nine of whom
were working in Austria). It recorded revenues of € 24.5 million and profit from ordinary activities
of € 67 thousand. Its return on equity before tax came to 4.4 per cent. Its balance sheet total shrank
to € 8.5 million. F.J. Elsner Trading GesmbH trades in steel and chemical products. In this business
segment, 36 employees (27 of whom were working in Austria) generated revenues of € 179.4 million,
profit from ordinary activities of € 0.9 million and a return on equity before tax of 18.3 per cent. The
company’s balance sheet total grew by 67 per cent to end the year at € 60.6 million. (All figures are
as of and for the period ended 30 June 2006 applying HGB.)
Strategic goals and outlook
In line with the principles currently underlying RZB’s equity participations strategy, the principal focus
in the Participations and Other segment during the 2007 financial year will again be on entering into
and holding long-term interests in companies whose activities lie within RZB’s core areas of business or
which are able, by virtue of their business activities, to support RZB in those areas.
Another focus in the Participations and Other segment will be on the subsidiaries and associates that
make products and render services for the Raiffeisen Banking Group as a whole. This must be seen
against the background of RZB’s role as the central institution within the Raiffeisen Banking Group
in Austria. If suitable opportunities arise, RZB will consider acquiring purely financial interests on a
case-by-case basis.
Interview Management Report Segment Reports Consolidated Financial Statements Glossary Contacts
Participations and Other
www.rzb.at
143