Annual Report Gorenje Group 2009
Annual Report Gorenje Group 2009
Annual Report Gorenje Group 2009
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GROUP - NOTE: CURRENCY RISK<br />
Note 40 - Currency risk<br />
The <strong>Group</strong>'s exposure to foreign currency risk:<br />
31 December <strong>2009</strong><br />
in TEUR EUR HRK DKK PLN RSD CZK Other<br />
Trade receivables 160,304 29,051 4,205 6,897 13,029 8,411 29,843<br />
Financial liabilities<br />
(borrowings) -410,073 -1,130 -772 -425 -953 -13,870 -3,794<br />
Trade payables -179,771 -1,091 -731 -1,366 -3,862 -3,905 -5,570<br />
Exposure of the financial<br />
position -429,540 26,830 2,702 5,106 8,214 -9,364 20,479<br />
Forward exchange contracts 0 0 0 0 0 0 4,176<br />
Net exposure -429,540 26,830 2,702 5,106 8,214 -9,364 24,655<br />
31 December 2008<br />
in TEUR EUR HRK DKK PLN RSD CZK Other<br />
Trade receivables 187,758 24,325 3,297 7,697 15,767 3,280 25,805<br />
Financial liabilities<br />
(borrowings) -440,194 - -4,719 -1,225 -168 -17,276 -4,632<br />
Trade payables -219,253 -2,652 -957 -1,296 -4,331 -4,361 -9,176<br />
Exposure of the financial<br />
position -471,689 21,673 -2,379 5,176 11,268 -18,357 11,997<br />
Forward exchange contracts 0 -16,391 0 -17,985 0 0 13,421<br />
Net exposure -471,689 5,282 -2,379 -12,809 11,268 -18,357 25,418<br />
The following significant exchange rates were applied during the year:<br />
Average rate<br />
<strong>Report</strong>ing date spot rate<br />
<strong>2009</strong> 2008 <strong>2009</strong> 2008<br />
HRK 7.341 7.224 7.300 7.356<br />
CZK 26.455 24.959 26.473 26.875<br />
DKK 7.446 7.456 7.442 7.451<br />
RSD 93.797 81.188 95.025 89.372<br />
PLN 4.330 3.515 4.105 4.154<br />
155<br />
<strong>Annual</strong> <strong>Report</strong> <strong>Gorenje</strong> <strong>Group</strong> <strong>2009</strong>
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