Annual Report Gorenje Group 2009

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Pursuant to the Companies Act, the total payments, reimbursements, and other benefits to the Management and Supervisory Board with Audit Committee members are given below: Management Board members Gross earnings in 2009 in EUR Salaries Incentive bonuses Other income Total Franc Bobinac 226,954 22,392 249,346 Franc Košec 193,761 17,318 211,079 Branko Apat 192,921 6,094 199,015 Uroš Marolt 176,223 23,035 199,258 Mirjana Dimc Perko 183,792 12,193 195,985 Philip Alexander Sluiter 31,741 0 31,741 Drago Bahun 188,631 13,230 201,861 Total 1,194,023 0 94,262 1,288,285 Net earnings in 2009 in EUR Salaries Incentive bonuses Other income Total Franc Bobinac 98,759 22,046 120,805 Franc Košec 85,240 16,975 102,215 Branko Apat 91,923 5,752 97,675 Uroš Marolt 75,094 22,694 97,788 Mirjana Dimc Perko 83,426 11,852 95,278 Philip Alexander Sluiter 23,806 0 23,806 Drago Bahun 84,166 12,888 97,054 Total 542,414 0 92,207 634,621 Gross earnings in 2008 in EUR Salaries Incentive bonuses Other income Total Franc Bobinac 238,880 79,180 23,902 341,962 Franc Košec 200,654 63,507 18,366 282,527 Branko Apat 194,154 18,651 9,926 222,731 Uroš Marolt 177,372 18,651 24,131 220,154 Mirjana Dimc Perko 183,759 63,507 17,119 264,385 Philip Alexander Sluiter 66,401 0 0 66,401 Drago Bahun 194,437 63,507 13,224 271,168 Total 1,255,657 307,003 106,668 1,669,328 229 Annual Report Gorenje Group 2009
Net earnings in 2008 in EUR Salaries Incentive bonuses Other income Total Franc Bobinac 103,262 37,120 23,547 163,929 Franc Košec 87,709 29,891 18,014 135,614 Branko Apat 90,258 8,853 9,575 108,686 Uroš Marolt 73,155 8,840 23,780 105,775 Mirjana Dimc Perko 80,618 29,940 16,768 127,326 Philip Alexander Sluiter 49,801 0 0 49,801 Drago Bahun 87,031 29,921 12,873 129,825 Total 571,834 144,565 104,557 820,956 Supervisory Board and Audit Committee members Gross earnings in 2009 in EUR Attendance fees Incentive bonuses Refund of work-related expenses Total Jože Zagožen 5,700 230 5,930 Milan Podpečan 6,272 444 6,716 Peter Ješovnik 6,388 769 7,157 Andrej Presečnik 4,413 316 4,729 Gregor Sluga 6,388 869 7,257 Ivan Atelšek 4,825 195 5,020 Jure Slemenik 4,825 0 4,825 Drago Krenker 6,058 115 6,173 Krešimir Martinjak 4,825 0 4,825 Peter Kobal 4,825 0 4,825 Mateja Vrankar 1,563 269 1,832 Total 56,082 0 3,207 59,289 Net earnings in 2009 in EUR Attendance fees Incentive bonuses Refund of work-related expenses Total Jože Zagožen 4,417 179 4,596 Milan Podpečan 4,861 343 5,204 Peter Ješovnik 4,951 596 5,547 Andrej Presečnik 3,420 244 3,664 Gregor Sluga 4,951 596 5,547 Ivan Atelšek 3,739 151 3,890 Jure Slemenik 3,739 0 3,739 Drago Krenker 4,695 89 4,784 Krešimir Martinjak 3,739 0 3,739 Peter Kobal 3,739 0 3,739 Mateja Vrankar 1,211 209 1,420 Total 43,462 0 2,407 45,869 230 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
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IFRIC 12 Service Concession Arrange
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anticipated reversionary increases,
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of the Gorenje Group’s lending po
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GROUP - 8. COMPOSITION OF THE GOREN
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83. GEN-I Tirana Sh.p.k., Albania 2
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GROUP - 11. DISPOSAL OF COMPANIES T
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Proportionate shares of assets, lia
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GROUP - COST OF GOODS, MATERIALS AN
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GROUP - NET FINANCE EXPENSES Note 1
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in TEUR 2008 Pre-tax amount Tax Aft
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Impairment testing of goodwill aris
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Movement of intangible assets in 20
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Transfers include transfers from re
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GROUP - NON-CURRENT INVESTMENTS Not
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GROUP - INVENTORIES Note 26 - Inven
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GROUP - OTHER CURRENT ASSETS Note 2
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GROUP - EARNINGS PER SHARE Note 32
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Movement of provisions in 2009 in T
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Some non-current borrowings are sim
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GROUP - TRADE PAYABLES Note 37 - Tr
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Impairment loss 8,780 3,512 Allowan
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in TEUR Carrying amount Expected ca
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Sensitivity analysis A 5 percent in
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Fair value scale The table shows me
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GROUP - EVENTS AFTER THE REPORTING
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GROUP - INDEPENDENT AUDITOR'S REPOR
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Mora Moravia s r.o., Czech Republic
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Gorenje UK Ltd., Great Britain Gore
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FOREIGN CURRENCY EXCHANGE RATES App
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STATEMENT OF FINANCIAL POSITION Sta
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STATEMENT OF CHANGES IN EQUITY Stat
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NOTES TO THE FINANCIAL STATEMENTS C
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COMPANY - 3. SIGNIFICANT ACCOUNTING
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Page 197 and 198: COMPANY - 5. FINANCIAL RISK MANAGEM
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Page 203 and 204: in TEUR 2009 2008 Interest expenses
Page 205 and 206: COMPANY - NOTES TO THE FINANCIAL PO
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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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Page 223 and 224: COMPANY - CURRENT FINANCIAL LIABILI
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Page 227 and 228: COMPANY - FINANCIAL INSTRUMENTS COM
Page 229 and 230: 31 December 2008 in TEUR Carrying a
Page 231 and 232: Sensitivity analysis A 5 percent in
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Page 235: Net earnings in 2009 in TEUR Manage
Page 239 and 240: COMPANY - EVENTS AFTER THE DATE OF
Page 241: Imprint: Publisher: Gorenje, d.d.,
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Annual Report Gorenje Group 2009

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