At the moment of drawing up a balance and analysing the result of the company in 2003, I would like to start saying thanks to everyone who works in Proycontec, whose daily cooperation and endeavour have been essential to achieve the goals set this year. I would also like to give my most sincere thanks to our clients for the trust they have placed in us, my commitment with them will last forever.
The main objective for the past year has been acomplished by far, increasing the turnover by more than 29% compared to the previous year. That implies an increase in output, associated with the increase in construction volume, that surpasses 100 million euros. In 2004, we hope to reach 150 million euros. Given this evolution, we can assure that the current situation is excellent in our industry, and it is now that we should consolidate our position in the market. However, I'm aware of the cyclical nature of the construction industry, and therefore we should not disregard the possibility of diversifing activities towards other sectors.
Regarding health and safety, I would like to remark that the reports from the external company that controls our safety system are improving day after day. I have no doubt that, even though there is still a lot to do, our sites are increasingly safer.
I would also like to mention Proycontec's quality policy for 2004. Our quality system, based in continuous improvement, aims to satisfy the needs of our clients, setting up the means to know their present requirements and their future expectations. Our quality system has been adapted to the new ISO rules and this will have positive results all around.
Finally, I would like to comment on our development policy, which in 2004 will concentrate on making agreements with other companies of our industry in order to execute projects of a greater scope and wider variety. This policy will require an adaptation of the organisation of the company, including a new department for industrial facilities and new section managers.
I encourage you to continue working on the same line, hoping that 2004 will be even a better year, if possible, than the previous one.
With my warmest thanks.
Fco. Ruiz Bravo
President