Powder Metallurgy Plant, Banskรก Bystrica, Slovakia
Annual Report | 2015
MIM PROCESS
Annual Report 2015
SINTERING
Contents 1. Introduction of the company 2. Structure of copartners 3. Organizational structure and employment rate 4. Business, visions and plans of the company 5. Company strategy 6. Activities of the company and their impact on environment 7. Economic indexes and financial situation 8. Risks of company future development 9. Milestones of the company 10. Supplements: Certificate ISO 9001:2009 Certificate ISO 14001:2005 Certificate ISO/TS 16949:2009 Independent auditor´s report
3
Annual Report | 2015
Introduction of the company ź
GEVORKYAN was established as a family company in Banská Bystrica in 1996.
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Founder of the company and its present majoritarian owner is an air engineer Dipl. Ing. Artur Gevorkyan, originally from Armenia, who built the company on a ʹʹgreen fieldʹʹ.
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GEVORKYAN believes in know-how of two generations of Gevorkyan family in the field of powder metallurgy.
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The company is leader in powder metallurgy field in today´s Europe. It belongs to the most innovative companies in this field in the world.
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It is a producer of different types of components manufactured by powder metallurgy (PM) and metal injection moulding (MIM) technology. These components are used in automobile, oil and cosmetic industry, in hand tools, locks, security systems, air conditioning and in health service.
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GEVORKYAN is a member of the European (EPMA – European Powder Metallurgy Association) and international (APMI – Association of Powder Metallurgy International) associations for powder metallurgy. The company has a high quality laboratory and development department.
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In past few years, the company passed though many customer audits and it became global supplier for big international companies, which run their manufacturing plants all over the world. At the turn of years 2015/2016 the company successfully performed certification audit according requirement of ISO/TS 16949:2009. Under the audit terms; methods and processes on individual departments were systematized. It increased the general functioning efficiency.
Annual Report 2015
50 years of experience
Robert Gevorkyan senior, establishing Powder Metallurgy Plant, Ural, 1977
Awards: ź GEVORKYAN is holder of many Slovak and
i n t e r n a t i o n a l p r e s t i g i o u s a w a rd s , e . g . : ź ″Diamonds of Slovak business″ in the category of
the most dynamic growing company in the area of middle Slovakia in 2012 a 2013, ź ″Plant of the Year” from Fraunhofer Institute and
EXIM Bank Slovakia for progressive business model, ź enlistment to the TOP 250 REVUE OF INDUSTRY and
to the TOP TREND INDUSTRY 2011, 2012 and 2013, ź enlistment to the 10 fastest growing companies in
Slovakia
for
the
year
2011,
ź „Fachmetall QM Context Award“, the company
received during fair trade specializing on powder metallurgy in Basel, Switzerland. GEVORKYAN won completion in the “Quality” category. It was the only one company from the European Union and absolutely the first company in the competition history, which won the competition with specialization in powder metallurgy.
Introduction of the company 5
The structure of copartners Ĺş
The strategy of the company is defined and realized by majoritarian copartner Dipl. Ing. Artur Gevorkyan, an air engineer, who worked on development of composite materials for military air forces. He is an owner of many patents and also holder of the know-how, on which development of the company is based. His longtime hard work on achieving his own goals and unusual business story were awarded in the finale of the competition ''Businessman of the year'' in 2011 and in 2012.
Mikhail Andelman
Iryna
Artur Gevorkyan
Yeumianenka
99 % 82 % 1%
GEVORKYAN
10 %
18 %
GPM Tools
Ĺş At the same time, GEVORKYAN company owns
an interest at GPM Tools (Gevorkyan Powder Metallurgy Tools), which specializes in production of tools for powder metallurgy and it is the only one tool factory in this field in Central Europe.
Annual Report 2015
The structure of copartners 7
Organizational structure and employment rate ź
GEVORKYAN had 179 employees at the end of the year 2015, from which 10% worked at R&D department (Research and development).
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The company offers attractive and stable jobs for qualified workers with adequate education.
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The company has multinational staff. Key managers have experiences from different branches of industry.
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Special wide spectrum of company social program covers real needs of employees, from material supply through a long-term sickness absence, maternity leave, refinance of payments for accommodation, transportation, contributions for remediation process, layovers, etc.
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In 2015 continued special program pointing at education of young and talented employees and to contribution of their education. The company offers a long-term (up until 30 years) loan for purchasing flat, house or general repair of property.
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Great deal of emphasis is put into continual education of employees. All engineers and designers visit international fair trades. In addition, they go through trainings and classes in powder metallurgy field in different states every year. Regularly organized internal courses, on which are also invited experts from supplying companies, have the aim to describe news in the field of developing materials and manufacturing technologies or machines.
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Integral parts of company functioning are regular meetings with fascinating personalities from business environment, for example Ján Košturiak or Ivo Toman. At the same time, original principles of the company are presented during trainings, conferences or courses (e.g. Happy Company, Management Live, ZMPS, etc.).
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It is premediated to gross up the number of employees up to 200 in 2016 - 2017.
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The company received award for Inspirational project in competition Via Bona Slovakia 2014, category of the Best Employer.
Annual Report 2015
Increasing number of employees
Organizational structure and employment rate 9
Gevorky Managing Director PRODUCTION DIVISION Presses and MIM
Sintering and finishing
Production planning
Technical preparation of production, IT
TECHNICAL DIVISION Design/ Construction
Quality department
Technical inspection input, output
Development
Production technical preparation
Maitenance
Laboratory
:
Annual Report 2015
QUALITY DIVISION
yan s.r.o. Director
ENVIRONMENTAL DIVISION
COMMERCIAL DIVISION
ECONOMIC DIVISION Marketing department
Sales department
Purchasing department
Logistics department
HR department
Business, visions and plans of the company ź
GEVORKYAN is on the market for more than 19 years. It successfully fulfills expectations of its customers by using long-term experience in concrete field. The company is owner of the know-how. At the development department work 17 engineers, who develop about 150 new products per year. It cooperates with the Slovak Academy of Sciences and the University of Cambridge. It also works with the Research institute in Sweden on developing new materials. Thanks to the strong development, the company enlarges its customer portfolio for about 10 new customers per year.
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The company is developing supplier for majority of its customers. The biggest part of the production is developed directly in GEVORKYAN. It is the only one supplier for almost 100% of its customers. The company is very often addressed by customers, who are interested in developing new products, which are not available on the market. By this approach, GEVORKYAN achieved the world uniqueness in products, which no other supplier have made by means of powder metallurgy ever.
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According to uniqueness of industrial processes and offered production, the company build strong business contacts on both sides – material delivery and sales.
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Today, the company offers products for its customers to more than 30 countries in the world, including Brazil, Mexico, USA, and the whole Europe up to the Israel, China and India.
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You can find company products in vehicles from Dacia to Mercedes, but also in exclusive brands like Porsche or Bentley; cosmetics Versace and Hugo Boss; hand tools for wide community and professionals like Black&Decker or Dewalt; in agricultural technology like John Deere and Deutz, Komatsu; in petrol industry and medical industry.
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Evidences of expansion on new markets and huge diversification of manufacture are contracts made in the latest period of time with companies from different branches of industry.
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Main priorities of the year 2015 were development of technology for classical powder metallurgy (PM), as well as unique technology MIM technology (Metal Injection Moulding), which is combination of powder metallurgy and jetting plastics, i.e. jetting of metallic powder on injection press, which is not used at any other company in Slovakia and majority of surrounding states, only at GEVORKYAN. In addition, many investments into production technology, research laboratory and software facilities of development department were realized. For example, special simulation software was bought. It enables to simulate production process during development phase. It helps to eliminate number of potential defects and shorten the required time for realization of the new project.
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The company plans to reinforce its position as the leading innovative producer in the powder metallurgy field. It will continue in development of complicated products with high added value, with diversification of its assortment by developing MIM technologies and will infiltrate other branches of industry and new markets. By the year 2019, the MIM technology will represent 30% of the total incomes, which would be more than 32 mil. Eur.
Annual Report 2015
USA 12
OIL INDUSTRY 19
cosmetic, medicine and agricultural industry
China India
10 EurOPEAN UNION
67
MexiCo, BrazIL
Israel
11
SPECIAL materiALS FOR OIL INDUSTRY
20
26 LOCKS aND SECURITY SYSTEMS
AutomoTIVE
INDUSTRY
21
HAND TOOLS 18
50
MIM 8
Soft Magnetic
11
GS
BEARIN
22
SINTERING
5
Revenues according individual countries
Revenues according individual sectors
Revenues according technology
Business, visions and plans of the company 13
Annual Report 2015
Aktivity a vĂzie spo
oločnosti
Company strategy ź Strategy of the GEVORKYAN company leads its way to the best growth and
development. ź It creates where one technology is already ending and another one has not start
yet. At the board-line between different technologies. PM and MIM technologies are under one roof, which is unique in Europe. ź Company products are not strictly attached to one industry. Parts are used in
automotive industry, hand tools, locks and security systems, cosmetic and medicine, agricultural and oil industry. ź It is a flexible company. It does not sell products, it sells solutions to the customers.
Everything it produces was not manufactured before anywhere.
You can find company products here:
Company strategy 15
Activities of the company and their impact on environment ź Health and safety at work, together with
environment are the most important values of the company. The highest respect of the environment and company choice to continue in this trend proves the fact that the company has high qualified professionals, who are responsible for health and safety at work and for environment. ź More than 90% of waste material is recycled or
it is used again. By this process the negative impact on the environment is decreased. ź Specialists from the company are constantly
working on reinforcement of the effectiveness of natural sources exploitation. As for example, an installation of treatment plant for machining emulsions can be used. It allows return of the clean emulsion to the production process. Another project for next year is installation of heat recuperates with aim to take use of wasted heat from compressor station for heating industrial water and for heating office facilities. ź The company is certificated for the system of
environmental managering, according STN EN ISO 14001:2005.
Annual Report 2015
Activities of the company and their impact on environment 17
VýročnáReport Annual správa2015 2013
Economic indexes and financial situation SÚVAHA K 31.12.2015
BALANCE SHEET AS OF DECEMBER 31.2015
(EUR)
AKTÍVA CELKOM
TOTAL ASSETS
61 622 121
Neobežný majetok
Fixed assets
42 484 672
Dlhodobý nehmotný majetok
Intangible fixed assets
14 476 485
Dlhodobý hmotný majetok
Tangible fixed assets
25 760 533
Podielové cenné papiere Ostatné dlhodobé cenné papiere a podiely
Investment in subsidiaries and associates
Obežné aktíva
Current assets
Zásoby
Inventory
Dlhodobé pohľadávky
Long-term receivables
0
Krátkodobé pohľadávky
Short-term receivables
9 919 903
Finančný majetok
Cash and cash equivalents
38 693
Ostatné aktíva
Other assets
23 273
PASÍVA CELKOM
TOTAL EQUITY AND LIABILITIES
61 622 121
Vlastné imanie
Equity
27 548 378
Základné imanie
Registered capital
13 924 472
Kapitálové fondy
Capital funds
11 073 430
Fondy zo zisku Výsledok hospodárenia minulých rokov Výsledok hospodárenia za účtovné obdobie po zdanení
Funds created from net profits
Záväzky
Liabilities
32 623 574
Dlhodobé záväzky
Non-current payables
13 423 599
Dlhodobé bankové úvery
Long-terms bank loans
5 018 056
Krátkodobé záväzky
Current payables
2 352 049
Záväzky z obchodného styku
Trade payables
2 083 002
Záväzky voči zamestnancom
Liabilities to employees
163 017
Daňové záväzky a dotácie
Tax liabilities and subsidies
78 170
Zákonné rezervy
Statutory provisions
65 451
Bežné bankové úvery
Current bank loans
11 764 419
Ostatné pasíva
Other liabilities
Časové rozlíšenie
Accrued and deferrals
0 2 247 654
Other financial investments
Retained earnings Net profit for the year
9 155 580
143 388 1 591 469 815 619
603 1 450 169
Economical indexes and financial situation 19
VÝKAZ ZISKOV A STRÁT K 31.12.2015
INCOME STATEMENT FOR THE YEAR ENDED DECEMBER 31. 2015
(EUR) 45 572
Tržby za predaj tovaru
Revenues from goods sold
Náklady vynaložené na obstaranie predaného tovaru
Cost of goods sold
Obchodná marža
Gross margin on sales
Výroba
Production
Tržby za predaj vlastných výrobkov
Revenues from own products
Tržby za predaj vlastných služieb
Revenues from own services
Zmena stavu vnútropodnikových zásob vlastnej výroby
Change in work in progress and finished goods
Aktivácia
Work performed by the enterprise and capatalized
Spotreba materiálu a energie
Material and energy consumption
Služby
Service
Osobné náklady
Personnel costs
2 749 688
Pridaná hodnota Odpisy nehmotného a hmotného investičného majetku
Production margin
8 385 368
Ostatné výnosy z hospodárskej činnosti
Other operating revenues
160 734
Ostatné náklady na hospodársku činnosť
Other operating expenses
141 128
Výsledok hospodárenia z hospodárskej činnosti
Operating profit
2 904 368
Výnosové úroky
Interest income
679
Nákladové úroky
Interest expenses
1 491 735
Výsledok hospodárenia z finančnej činnosti Výsledok hospodárenia z bežnej činnosti pred zdanením
Loss from financial activities
-1 797 710
Splatná daň z príjmov za bežnú činnosť
Tax on ordinary income- current
286 569
Odložená daň z príjmov za bežnú činnosť
Tax on ordinary income- deferred
4 470
Mimoriadne výnosy / náklady
Extraordinary income / expenses
0
Výsledok hospodárenia za účtovné obdobie pred zdanením
Profit for the period before tax
Výsledok hospodárenia za účtovné obdobie po zdanení
Net profit for the year
42 516 3 056 23 338 292 16 345 290 3 506 277 3 486 725
Annual Report 2015
Depreciation and amortization
Profit on ordinary activities before tax
0 11 568 686 3 387 294
2 739 922
1 106 658
1 106 658 815 619
Základné ukazovatele spoločnosti / Company basic indicators
2011
2012
2013
2014
2015
Tržby z predaja výrobkov a služieb/ Revenues from products and services
7 530 838
10 837 904
13 008 904
17 100 702
19 851 567
Pridaná hodnota/ Production margin
2 278 774
2 540 839
3 737 531
6 512 635
8 385 368
Počet pracovníkov (priemerný evidenčný) / Number of employees (average registered)
77
83
100
142
170
Aktíva celkom/ Total assets
14 716 818
19 366 147
36 267 375
46 078 263
61 622 121
Vlastné imanie/ Equity
5 966 068
7 902 340
19 208 876
22 527 841
27 548 378
Základné imanie/ Registered capital
2 217 863
2 217 863
11 137 863
13 924 472
13 924 472
398 949
525 249
1 002 196
1 004 316
1 106 658
320 283
415 687
744 744
742 379
815 619
4,3%
3,8%
5,7%
4,3%
4,1%
14,4%
18,7%
6,7%
5,3%
5,9%
Hrubý zisk/ Gross profit Čistý zisk/ Net profit Rentabilita tržieb (%) / Profitability of revenues Čistý zisk/ Základné imanie (%) / Net profit/ Registered capital (%)
Náklady na rozvoj spoločnosti / Costs for development Náklady na vzdelávanie zamestnancov / Cost of personnel training (EUR) Náklady na výskum a vývoj / Costs of research and development (EUR)
2010
2011
2012
2013
2014
2015
5 319
6 280
7 481
8 145
8 813
49 200
191 148
195 200
340 865
361 241
464 152
980 000
Obchodné meno spoločnosti / Company name:
GEVORKYAN, s.r.o. Zvolenská cesta 14 Banská Bystrica 974 03
Sídlo / Seat: Deň vzniku / Day of establishment:
20.1.1997
Právna forma / Legal form:
Spoločnosť s ručením obmedzeným / Limited Liability Company Činnosť v oblasti práškovej metalurgie / Activities in the field of powder metallurgy
Predmet činnosti / Business activities :
Podiel na základnom imaní / Share capital
Výška podielu na hlasovacích právach / Share in voting rights
Artur Gevorkyan
99%
82,5%
Mikhail Andelman
1%
17,5%
Spoločníci / Partner
Štatutárne orgány / Statutory body Meno, priezvisko / Name, surname,
Názov orgánu / Name of statutory body
Artur Gevorkyan
konateľ
Iryna Yeumianenka
konateľ
Anatoliy Ulezsko
konateľ
Economical indexes and financial situation 21
Risks of company future development ź Today, there are no risks which would vitally
endanger functioning of the company. ź Within the frame of improving controlling activities
at the company, 2 job positions were successfully created in 2013, which help monitoring eventual risks: źa. manager of production controlling, where were
assigned colleague who was in charge of production at GEVORKYAN, źb. manager of financial controlling with long-term experience at leading position of accounting at GEVORKYAN. ź To increase elimination of risks toward failure in
supplying of basic materials for manufacturing, the company opened up a program for diversification of metal powder suppliers. ź Backup energy resources for control units of CNC
machines was installed, as well. ź For decreasing risks of an unpaid invoices from
customers, GEVORKYAN enlarged its cooperation with insurance companies Coface and Euler Hermes in securing debts and analyzing business partners. ź In the same time, it enlarged contracts of insurance
responsibility for damage due to defective product.
Annual Report 2015
Risks of company future development 23
Supplements
Annual Report 2015
Supplements 27
Annual Report 2015
Supplements 29