GDP
...rced to take € 10mio HAB loan in July. Net Financial debt is € 16.8 Mio. Capex amounts to € 7.1 Mio and mainly relates to the fuel conversion, filter replacement, control system reconstruction and HGRS. SUN Systems went live smoothly in January 2004 bringing major improvements in the financial, reporting and administrative processes. Sales and Administration expenses (Actual € 3.4 Mio versus Budget € 3.9 Mio) under control but difficult to reduce further due to legacy legal problems and continued centrally promoted activities (PMA, Team Building, Open Door Day etc.)After the December 2003 elections a new coalition government was formed at the beginning of this year. Presidential elections took place in June and Boris Tadic was elected President, thus ending a more than one year vacancy of the position. Although political stability is fragile, the year 2004 has shown a 5...