Annual Report Gorenje Group 2009

Gorenje Group and its business activities
The year 2009 was marked by a sharp decline in sales in the first half of the year, when the full impacts
of the global economic crisis began to unfold in our lines of business. In 2009 the Gorenje Group jointly
generated EUR 1.2 billion in sales, which is EUR 144.8 million (10.9 percent) less than in the previous
year. Despite the decline, the Company strengthened its position and acquired market shares in its key
home appliance markets.
In times of financial crisis, consumers are always more cautious and prone to postponing purchases of
more durable goods for fear of losing their jobs. The low liquidity of the financial system caused banks
to stop financing consumption. The declining economic activity reduced tax income, while rising
unemployment increased budget expenses. Countries experienced budget difficulties, which led to the
devaluation of local currencies in Eastern European countries. Consequently, the prices of the
Company's products in these markets additionally increased, reducing sales.
Sales Revenue by Division
Home Appliances
Home Interior
Ecology, Energy and
Services
Group
2009 2008 2009 2008 2009 2008 2009 2008
Revenue from
sales to others 925,496 1,050,125 40,720 59,133 219,721 221,495 1,185,937 1,330,753
Inter-division
sales 3,955 9,955 14,454 22,481 6,779 7,839 25,188 40,275
Source: Gorenje Group data.
Sales Revenue Structure by Division
Source: Gorenje Group data. Home Appliances Division Note: The revenue of the Home Interior Division in 2009 includes the total
revenue of Atag, which amounted to EUR 140,665 million. The data for this division is not directly comparable to the year 2008,
since Atag joined the Company in the second half of the year.
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Annual Report Gorenje Group 2009