English Translation

32 e e d should continue as the company participates in the electrification of the parts of Transylvania connected with Hungary. The birth of 1940 will be fully satisfactory and the company will pay a dividend of 5% after carrying out the normal depreciation. Last year in Prague, the full production capacity of the factory in its present size was exploited and achieved almost the same turnover as in the previous year. The orders made in the preceding year and presented in the new year mean an employment of the company for a long time. in Prague, also in the year l940 contributed in a significant amount to the expansion of the ship park of our river traffic. The status of the orders is favorable, so that also on this section of our group - enterprises can be expected with a good development for the future. The Prague Autoverkehrs-Aktien-Gesellschaft also got its bus traffic in the year l940, whereby the workshop operation increased even more compared to the past years. The results of the company are satisfactory. The electricity counter factory G.m.b.H. in Prague has a invoiced turnover in the past year, which is still slightly higher than in l939. The company worked not only for the domestic market, but also on export orders. The receipt of orders continues, so that the employment of the factory is secured for a long time. ./°