Annual Report Gorenje Group 2009

GROUP - EARNINGS PER SHARE
Note 32 – Earnings per share
Earnings per share amounted to EUR -0.83 in 2009 (in 2008: EUR 0.66). No preference shares have
been issued by the Group, hence basic and diluted earnings per share are equal.
The calculation of EPS ratio is based on net profit or loss of the Group and the weighted average
number of ordinary shares in the period:
2009 (in TEUR)
Net profit or loss -11,504
Weighted average number of ordinary shares 13,908,689
Basic / Diluted earnings per share (in EUR) -0.83
2008 (in TEUR)
Net profit or loss 8,872
Weighted average number of ordinary shares 13,469,497
Basic / Diluted earnings per share (in EUR) 0.66
All issued shares are of the same class and give their owner the right to participate in the management
of the company. Each share gives one vote and a right to dividend.
In 2009, dividends were not paid (in 2008: EUR 0.45 gross per share).
GROUP - PROVISIONS
Note 33 – Provisions
62,158 TEUR
in TEUR 2009 2008
Provisions for warranties 38,000 32,735
Provisions for retirement benefits and jubilee premiums 19,623 19,563
Other provisions 4,535 3,068
Total 62,158 55,366
Long-term provisions for warranties were created on the basis of estimated costs of warranties
calculated by taking into account the past known data on the quality level of products and the costs of
repairs under warranties.
Provisions for retirement benefits and jubilee premiums were created on the basis of the actuarial
calculation of estimated future payments of retirement benefits and jubilee premiums, which was made
as at 31 December 2009. The actuarial calculation was based on the following assumptions:
• a discount rate of 5.40 % in December 2009 representing the rate of return on 10-year
entrepreneurial bonds with high credit rating in the euro area;
• current retirement benefits and jubilee premiums as defined in the internal acts of individual
companies or in the national regulations;
• an employee turnover depending in particular on the employee’s age;
• a mortality rate stated in the latest available mortality tables of the local population;
• an increase in wages and salaries due to adjustment for inflation and career promotion.
Actuarial deficits or surpluses occurring in connection with retirement benefits and jubilee premiums
are recognised in the income statement as expense (income).
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Annual Report Gorenje Group 2009