Annual Report Gorenje Group 2009

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DATA ON GORENJE GROUP COMPANIES Appendix 1: Information on the Gorenje Group companies Group companies Share capital (in TEUR) Number of employees Gorenje, d.d., Slovenia 58,546 4,835 Gorenje I.P.C., d.o.o., Slovenia 93 755 Gorenje Tiki, d.o.o., Slovenia 257 322 Gorenje GTI, d.o.o., Slovenia 8,426 115 Gorenje Notranja oprema, d.o.o., Slovenia 3,835 915 Gorenje Gostinstvo, d.o.o., Slovenia 3,790 189 ENERGYGOR, d.o.o., Slovenia 9 0 KEMIS, d.o.o., Slovenia 1,450 25 Gorenje Orodjarna, d.o.o., Slovenia 927 211 Indop, d.o.o., Slovenia 1,000 19 ZEOS, d.o.o., Slovenia 477 3 SUROVINA, d.d., Slovenia 4,849 337 ISTRABENZ GORENJE, d.o.o., Slovenia 5,433 20 GEN-I, d.o.o., Slovenia 3,177 18 Istrabenz investicijski inženiring, d.o.o., Slovenia 708 0 Istrabenz Gorenje inženiring, d.o.o., Slovenia 607 5 ERICo, d.o.o., Slovenia 278 57 Gorenje design studio, d.o.o., Slovenia 500 14 Gorenje Projekt, d.o.o., Slovenia 88 0 PUBLICUS, d.o.o., Slovenia 897 59 IG AP, d.o.o., Slovenia 4 6 Vitales Nova Gorica, d.o.o., Slovenia 4 0 Istrabenz Gorenje Projekt, d.o.o., Slovenia 5 1 Gorenje Beteiligungs GmbH, Austria 26,600 5 Gorenje Austria Handels GmbH, Austria 3,275 57 Gorenje Vertriebs GmbH, Germany 5,700 57 Gorenje Körting Italia S.r.l., Italy 1,043 10 Gorenje France S.A.S., France 3,225 23 Gorenje BELUX S.a.r.l., Belgium 19 5 Gorenje UK Ltd., Great Britain 113 13 Gorenje Skandinavien A/S, Denmark 2,395 47 Gorenje AB, Sweden 195 4 Gorenje spol. s r.o., Czech Republic 4,633 41 Gorenje real spol. s r.o., Czech Republic 9,821 61 Gorenje Slovakia s.r.o., Slovak Republic 1,892 46 Gorenje Budapest Kft., Hungary 2,644 23 Gorenje Polska Sp. z o.o., Poland 4,638 35 Gorenje Bulgaria EOOD, Bulgaria 3,175 14 Gorenje Zagreb, d.o.o., Croatia 15,485 146 Gorenje Skopje, d.o.o., Macedonia 246 17 Gorenje Commerce, d.o.o., Bosnia and Herzegovina 1 55 Gorenje, d.o.o., Serbia 4,068 61 Gorenje Invest, d.o.o., Serbia 1,063 15 Gorenje Podgorica, d.o.o., Montenegro 2,800 16 Gorenje OY, Finland 115 2 Gorenje AS, Norway 265 4 OÜ Gorenje, Estonia 3 0 SIA Gorenje, Latvia 405 0 Gorenje Romania S.R.L., Romania 386 8 Gorenje aparati za domaćinstvo, d.o.o., Serbia 26,482 498 163 Annual Report Gorenje Group 2009
Mora Moravia s r.o., Czech Republic 10,339 634 Gorenje – kuchyně spol. s r.o., Czech Republic 1,587 38 ST Bana Nekretnine, d.o.o., Serbia 2,507 0 KEMIS -Termoclean, d.o.o., Croatia 778 59 Kemis - BH, d.o.o., Bosnia and Herzegovina 210 8 Gorenje Gulf FZE, United Arab Emirates 181 5 Gorenje Espana S.L., Spain 3 0 Gorenje Tiki, d.o.o., Serbia 11,249 207 GEN-I Zagreb, d.o.o., Croatia 51 1 GEN-I, d.o.o., Serbia 200 1 Intrade energija, d.o.o., Bosnia and Herzegovina 10 2 Vitales, d.o.o., Nova Bila, Bosnia and Herzegovina 987 28 Vitales, d.o.o., Bihać, Bosnia and Herzegovina 281 13 Gorenje Istanbul Ltd., Turkey 1,897 18 Gorenje TOV, Ukraine 58 5 Sirovina d.o.o., Bačka Palanka in liquidation, Serbia 242 10 GEN-I Budapest, Kft., Hungary 46 1 Gorenje kuhinje, d.o.o., Ukraine 818 10 Kemis - SRS, d.o.o., Bosnia and Herzegovina 1 1 ATAG Nederland BV, The Netherlands 16 374 ATAG België NV, Belgium 248 42 ATAG Financiele Diensten BV, The Netherlands 200 3 ATAG Financial Solutions BV, The Netherlands 18 0 Intell Properties BV, The Netherlands 45 0 ATAG Europe BV, The Netherlands 18 0 ATAG Special Products BV, The Netherlands 18 0 Gorenje Nederland B.V., The Netherlands 20,796 2 Gorenje Kazakhstan, TOO, Kazakhstan 30 2 OOO Gorenje BT, Russia 93 11 "Euro Lumi & Surovina" SH.P.K., Kosovo 431 12 Vitales, d.o.o., Sokolac, Bosnia and Herzegovina 5 0 Vitales inženjering d.o.o., Prijedor, Bosnia and Herzegovina 13 0 Vitales Energie Biomasse S.R.L., Italy 3 0 Vitales Čakovec d.o.o., Croatia 1 0 GEN-I d.o.o., Sarajevo, Bosnia and Herzegovina 126 1 GEN-I DOOEL Skopje, Macedonia 5 1 GEN-I Athens SMLLC, Greece 37 1 GEN-I Tirana Sh.p.k., Albania 11 1 S.C. GEN-I Bucharest, Romania 123 1 164 Annual Report Gorenje Group 2009
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It was a difficult year. 2009 Annua
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03 And that is why we are growing.
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05 We are actively involved in seve
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07 Ideas give us energy. We have re
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Content Letter of the President of
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As for our traditional markets in E
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The Supervisory Board devoted speci
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Gorenje Group The Gorenje Group is
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Vision, mission, values VISION To b
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BASIC STRATEGIC OBJECTIVES To succe
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The performance of the Division's b
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The products of the Gorenje Group a
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Innovations and products The crisis
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Production and quality Home Applian
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Shares of Gorenje and investor rela
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OWNERSHIP STRUCTURE Ten Major Share
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OWN SHARES AND VOTING RIGHTS On the
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For the second consecutive year, we
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Report on corporate social responsi
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AVERAGE AGE AND HEALTH CARE In the
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Staff Training Rapid development in
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Culture We realise how important bo
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Quantity of hazardous wastes (kg/pi
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Energy consumption of Gorenje washe
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DR. JOŽE ZAGOŽEN Chairman of the
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PETER KOBAL Member of the Superviso
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FRANJO BOBINAC President of the Man
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DRAGO BAHUN member of the managemen
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FRANC KOŠEC member of the manageme
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GENERAL MEETING OF SHAREHOLDERS The
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EXTERNAL AUDIT The audit of financi
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CODE OBSERVANCE The contents of the
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Business report ECONOMIC ENVIRONMEN
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SALE IN TERMS OF DIVISIONS The Home
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A sharper fall in the market was su
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HOME INTERIOR DIVISION South-Easter
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Structure of sales of the Ecology,
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The main reasons for the reduction
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Due to the circumstances described
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At the end of 2009 equity capital a
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Cash flow of the Gorenje Group (in
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Investments of the Gorenje Group an
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The most important material of the
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Information system risks are relate
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Ecology, energy and services divisi
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RESEARCH AND DEVELOPMENT Household
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52. Kemis-Termoclean, d.o.o., Croat
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Achievement of goals in the year 20
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Financial statements of Gorenje Gro
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CONSOLIDATED STATEMENT OF FINANCIAL
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CONSOLIDATED STATEMENT OF CHANGES I
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NOTES TO THE CONSOLIDATED FINANCIAL
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A contingent liability of the acqui
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) Foreign currency (i) Foreign curr
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value of the derivative is recognis
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Acquisition of minority interests A
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current economic and credit conditi
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(iv) Provisions for retirement bene
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s) Comparative information Comparat
Page 119 and 120: IFRIC 12 Service Concession Arrange
Page 121 and 122: anticipated reversionary increases,
Page 123 and 124: of the Gorenje Group’s lending po
Page 125 and 126: GROUP - 8. COMPOSITION OF THE GOREN
Page 127 and 128: 83. GEN-I Tirana Sh.p.k., Albania 2
Page 129 and 130: GROUP - 11. DISPOSAL OF COMPANIES T
Page 131 and 132: Proportionate shares of assets, lia
Page 133 and 134: GROUP - COST OF GOODS, MATERIALS AN
Page 135 and 136: GROUP - NET FINANCE EXPENSES Note 1
Page 137 and 138: in TEUR 2008 Pre-tax amount Tax Aft
Page 139 and 140: Impairment testing of goodwill aris
Page 141 and 142: Movement of intangible assets in 20
Page 143 and 144: Transfers include transfers from re
Page 145 and 146: GROUP - NON-CURRENT INVESTMENTS Not
Page 147 and 148: GROUP - INVENTORIES Note 26 - Inven
Page 149 and 150: GROUP - OTHER CURRENT ASSETS Note 2
Page 151 and 152: GROUP - EARNINGS PER SHARE Note 32
Page 153 and 154: Movement of provisions in 2009 in T
Page 155 and 156: Some non-current borrowings are sim
Page 157 and 158: GROUP - TRADE PAYABLES Note 37 - Tr
Page 159 and 160: Impairment loss 8,780 3,512 Allowan
Page 161 and 162: in TEUR Carrying amount Expected ca
Page 163 and 164: Sensitivity analysis A 5 percent in
Page 165 and 166: Fair value scale The table shows me
Page 167 and 168: GROUP - EVENTS AFTER THE REPORTING
Page 169: GROUP - INDEPENDENT AUDITOR'S REPOR
Page 173 and 174: Gorenje UK Ltd., Great Britain Gore
Page 175 and 176: FOREIGN CURRENCY EXCHANGE RATES App
Page 177 and 178: STATEMENT OF FINANCIAL POSITION Sta
Page 179 and 180: STATEMENT OF CHANGES IN EQUITY Stat
Page 181 and 182: NOTES TO THE FINANCIAL STATEMENTS C
Page 183 and 184: COMPANY - 3. SIGNIFICANT ACCOUNTING
Page 185 and 186: Cash flow hedges When a derivative
Page 187 and 188: (iv) Depreciation Depreciation is r
Page 189 and 190: i) Impairment (i) Financial assets
Page 191 and 192: (iii) Onerous contracts A provision
Page 193 and 194: Deferred tax is measured at the tax
Page 195 and 196: IFRIC 18 Transfers of Assets from C
Page 197 and 198: COMPANY - 5. FINANCIAL RISK MANAGEM
Page 199 and 200: Capital management The Company's po
Page 201 and 202: Rental income in TEUR 2009 2008 Ren
Page 203 and 204: in TEUR 2009 2008 Interest expenses
Page 205 and 206: COMPANY - NOTES TO THE FINANCIAL PO
Page 207 and 208: Changes in intangible assets in 200
Page 209 and 210: Carrying amount at 1 Jan 2008 12,95
Page 211 and 212: COMPANY - INVESTMENTS IN SUBSIDIARI
Page 213 and 214: Long-term loans to specific groups
Page 215 and 216: Short-term loans in TEUR 2009 2008
Page 217 and 218: Kemis-Termoclean, d.o.o., Croatia 2
Page 219 and 220: Changes in fair value reserve: in T
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Changes in provisions in 2009 in TE
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COMPANY - CURRENT FINANCIAL LIABILI
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Trade payables to suppliers in the
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COMPANY - FINANCIAL INSTRUMENTS COM
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31 December 2008 in TEUR Carrying a
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Sensitivity analysis A 5 percent in
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COMPANY - FAIR VALUE Note 36 - Fair
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Net earnings in 2009 in TEUR Manage
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Net earnings in 2008 in EUR Salarie
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COMPANY - EVENTS AFTER THE DATE OF
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Imprint: Publisher: Gorenje, d.d.,
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Annual Report Gorenje Group 2009

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