Annual Report Gorenje Group 2009
Annual Report Gorenje Group 2009 Annual Report Gorenje Group 2009
Strategic objectives Under the impact of constant changes being brought into the business, social and political environments by the processes of globalisation, consolidation within the branch, lifestyle trends, and in particular the global economic crisis, Gorenje must continuously improve its performance. For this reason we always respond to new challenges quickly, flexibly and efficiently. As part of a global industry whose development is hard to predict at present, the Gorenje Group has also found itself in a delicate situation. Based on an analysis of the current situation, circumstances, trends, and potential directions of the branch's development, the Company laid out at the end of 2009 an ambitious Strategic Plan of the Gorenje Group for the 2010-2013 period. Relying on the efficient management of business processes, the plan sets solid foundations on which to build our future. Read how we intend to achieve the set goals in 2010 here. 11 Annual Report Gorenje Group 2009
BASIC STRATEGIC OBJECTIVES To successfully pursue our vision and mission, our business activities will be focused on the implementation of five basic strategic policies. Boosting sales of upmarket products. Intensifying sales of products and services with high profit margins within our core activity through a systematic approach to brand management, innovation and design. Raising process excellence and cost efficiency. Attaining process excellence and the resulting cost efficiency in all fields of our operation. Moving production to countries with lower labour costs. Increasing purchasing activities in low cost environments, moving the production of products with lower added value outside of Slovenia, and optimising overhead costs (outside direct manufacturing). Expansion to business segments with higher added value. Intensive expansion to business segments with higher returns within strategic activities. Expansion to markets with anticipated high growth rates. Directing sales to markets with at least twice the growth rate of the average global gross domestic product growth. KEY OBJECTIVES OF OPERATIONS UP TO 2013 The Gorenje Group will attain the following results by the year 2013: • at least a 5-6% operating margin, • an added value per employee of at least EUR 40 thousand, • basic financial ratios above the competitor average, • a positive economic profit (premium above the weighted average cost of capital - WACC). Gorenje Group Dividend Policy The dividend policy of the Gorenje Group and the parent company in the strategic period will remain consistent with the policy effective before 2009. This means that up to one third of the Gorenje Group's net profit for the period will be appropriated for dividend payment. 12 Annual Report Gorenje Group 2009
- Page 1 and 2: It was a difficult year. 2009 Annua
- Page 3 and 4: 03 And that is why we are growing.
- Page 5 and 6: 05 We are actively involved in seve
- Page 7 and 8: 07 Ideas give us energy. We have re
- Page 9 and 10: Content Letter of the President of
- Page 11 and 12: As for our traditional markets in E
- Page 13 and 14: The Supervisory Board devoted speci
- Page 15 and 16: Gorenje Group The Gorenje Group is
- Page 17: Vision, mission, values VISION To b
- Page 21 and 22: The performance of the Division's b
- Page 23 and 24: The products of the Gorenje Group a
- Page 25 and 26: Innovations and products The crisis
- Page 27 and 28: Production and quality Home Applian
- Page 29 and 30: Shares of Gorenje and investor rela
- Page 31 and 32: OWNERSHIP STRUCTURE Ten Major Share
- Page 33 and 34: OWN SHARES AND VOTING RIGHTS On the
- Page 35 and 36: For the second consecutive year, we
- Page 37 and 38: Report on corporate social responsi
- Page 39 and 40: AVERAGE AGE AND HEALTH CARE In the
- Page 41 and 42: Staff Training Rapid development in
- Page 43 and 44: Culture We realise how important bo
- Page 45 and 46: Quantity of hazardous wastes (kg/pi
- Page 47 and 48: Energy consumption of Gorenje washe
- Page 49 and 50: DR. JOŽE ZAGOŽEN Chairman of the
- Page 51 and 52: PETER KOBAL Member of the Superviso
- Page 53 and 54: FRANJO BOBINAC President of the Man
- Page 55 and 56: DRAGO BAHUN member of the managemen
- Page 57 and 58: FRANC KOŠEC member of the manageme
- Page 59 and 60: GENERAL MEETING OF SHAREHOLDERS The
- Page 61 and 62: EXTERNAL AUDIT The audit of financi
- Page 63 and 64: CODE OBSERVANCE The contents of the
- Page 65 and 66: Business report ECONOMIC ENVIRONMEN
- Page 67 and 68: SALE IN TERMS OF DIVISIONS The Home
Strategic objectives<br />
Under the impact of constant changes being brought into the business, social and political<br />
environments by the processes of globalisation, consolidation within the branch, lifestyle trends, and in<br />
particular the global economic crisis, <strong>Gorenje</strong> must continuously improve its performance. For this<br />
reason we always respond to new challenges quickly, flexibly and efficiently.<br />
As part of a global industry whose development is hard to predict at present, the <strong>Gorenje</strong> <strong>Group</strong> has<br />
also found itself in a delicate situation. Based on an analysis of the current situation, circumstances,<br />
trends, and potential directions of the branch's development, the Company laid out at the end of <strong>2009</strong><br />
an ambitious Strategic Plan of the <strong>Gorenje</strong> <strong>Group</strong> for the 2010-2013 period. Relying on the efficient<br />
management of business processes, the plan sets solid foundations on which to build our future.<br />
Read how we intend to achieve the set goals in 2010 here.<br />
11<br />
<strong>Annual</strong> <strong>Report</strong> <strong>Gorenje</strong> <strong>Group</strong> <strong>2009</strong>
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