Annual Report Gorenje Group 2009
Annual Report Gorenje Group 2009 Annual Report Gorenje Group 2009
THE FINANCIAL CALENDAR FOR 2010 Financial Calendar for the Year 2010 Type of release Anticipated release date - Discussion of the Strategic Plan for the 2010–2013 period Friday, 15 Jan 2010 - Summary of unaudited financial statements of Gorenje, d.d. for the year 2009 - Summary of unaudited financial statements of the Gorenje Group for the year 2009 Friday, 15 Jan 2010 - Annual Report of Gorenje, d.d. and the Gorenje Group for the year 2009 - Statement of Compliance with the Corporate Governance Code for Public Joint-stock Companies Thursday, 22 Apr 2010 - Report on the Business operation of Gorenje, d.d. and the Gorenje Group in the period from January-March 2010 Tuesday, 8 Jun 2010 - Resolutions of the 15th Regular General Meeting of Shareholders of Gorenje, d.d. Friday, 16 Jul 2010 - Report on the Business Operation of Gorenje, d.d. and the Gorenje Group in the period from January–June 2010 Tuesday, 26 Aug 2010 - Report on the Business Operation of Gorenje, d.d. and the Gorenje Group in the period from January ̶ September 2010 Thursday, 4 Nov 2010 - Summary of Assessment of Business Operation in the year 2010 and the Business Plan for the year 2011 Monday, 20 Dec 2010 Note: the financial calendar is accessible at: http://seonet.ljse.si/Default.aspx?doc=SEARCH&doc_id=39523 Controlled and other price-sensitive information is published on the website of the Ljubljana Stock Exchange via the SEOnet system, on the website of the Gorenje Group, while certain other information prescribed by the Articles of Association (e.g. convening of general meetings) is also published in the Delo newspaper. Any alterations of anticipated release dates will be duly announced on the website: www.gorenje.com. COMMUNICATION WITH INVESTORS In 2009, the Company had 34 announcements in both the Slovenian and English languages on the web portal Seonet 34. This includes both periodical and ad hod announcements. All of these were made in a part of the day when trading was not conducted on the Ljubljana Stock Exchange, and the time difference of announcements in both languages was minimal - in most cases less than a minute. The key goals of relations with investors in the Gorenje Group are: • to provide an information base enabling effective share valuation, • to improve corporate disclosures, • to acquire broader coverage of analysts, • to improve the recognisability of the Management Board, • to develop an appropriate ownership structure, • to increase group coverage in the financial media, and • to ensure proper presentation of the Company's/Group's data in professional data bases (Bloomberg, Reuters, etc.). After publishing our quarterly results in 2009, we intensified activities aimed at direct communications with investors. We introduced meetings intended primarily for Slovenian investors and financial analysts, as well as the representatives of financial investors. Their principal purpose is to present in more detail the business results, the Management Board's vision of the Group's development, and the measures taken to control the financial crisis. A video film from the first such meeting is available on our web pages. 27 Annual Report Gorenje Group 2009
For the second consecutive year, we issued a magazine for Gorenje shareholders named »Delnicar.g« (shareholder. We are always at the disposal of all investors - large and small - for providing answers to concrete questions. Communications with major investors are carried out in the form of conferences, individual or group meetings, correspondence sessions, individual or group meetings, conference calls (especially after the publication of periodical results), or on our web pages, and similar. Communications with minor investors are carried out by phone, E-mail, and classic mail. The responses to their questions are delivered immediately or in the shortest possible time. We communicated with foreign investors at »road shows« abroad, to which we were invited by investment bankers and the Ljubljana Stock Exchange (Frankfurt, Zürich, Prague, Vienna, Stegersbach). In the first half of 2009, a number of road shows were cancelled because of the financial crisis, but these were replaced by meetings with interested investors at the seat of the Company. All public announcements in English are sent to international press agencies, foreign media, investors, and analysts through a distribution system, i.e. mailing lists, which at present includes more than 120 recipients. In line with one of our fundamental goals in the area of investor relations - acquiring broader coverage from analysts - we are encouraging analysts to actively cooperate with us. We are always at their disposal for commentaries and additional explanations of public announcements, thus contributing to the objectivity of information in their analyses. The quality of our work is also confirmed by an acknowledgement for best investor relations team granted to the Company in 2009 by the Ljubljana Stock Exchange. In the opinion of the evaluation committee, we earned this award for our exceptional efforts and professionalism in communications with investors both in daily contacts as well as at exemplarily organised meetings with investors in Slovenia and abroad. 28 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 and 18: Vision, mission, values VISION To b
- Page 19 and 20: BASIC STRATEGIC OBJECTIVES To succe
- 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: OWN SHARES AND VOTING RIGHTS On the
- 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
- Page 69 and 70: A sharper fall in the market was su
- Page 71 and 72: HOME INTERIOR DIVISION South-Easter
- Page 73 and 74: Structure of sales of the Ecology,
- Page 75 and 76: The main reasons for the reduction
- Page 77 and 78: Due to the circumstances described
- Page 79 and 80: At the end of 2009 equity capital a
- Page 81 and 82: Cash flow of the Gorenje Group (in
- Page 83 and 84: Investments of the Gorenje Group an
For the second consecutive year, we issued a magazine for <strong>Gorenje</strong> shareholders named »Delnicar.g«<br />
(shareholder. We are always at the disposal of all investors - large and small - for providing answers to<br />
concrete questions. Communications with major investors are carried out in the form of conferences,<br />
individual or group meetings, correspondence sessions, individual or group meetings, conference calls<br />
(especially after the publication of periodical results), or on our web pages, and similar.<br />
Communications with minor investors are carried out by phone, E-mail, and classic mail. The<br />
responses to their questions are delivered immediately or in the shortest possible time.<br />
We communicated with foreign investors at »road shows« abroad, to which we were invited by<br />
investment bankers and the Ljubljana Stock Exchange (Frankfurt, Zürich, Prague, Vienna,<br />
Stegersbach). In the first half of <strong>2009</strong>, a number of road shows were cancelled because of the financial<br />
crisis, but these were replaced by meetings with interested investors at the seat of the Company.<br />
All public announcements in English are sent to international press agencies, foreign media, investors,<br />
and analysts through a distribution system, i.e. mailing lists, which at present includes more than 120<br />
recipients.<br />
In line with one of our fundamental goals in the area of investor relations - acquiring broader coverage<br />
from analysts - we are encouraging analysts to actively cooperate with us. We are always at their<br />
disposal for commentaries and additional explanations of public announcements, thus contributing to<br />
the objectivity of information in their analyses.<br />
The quality of our work is also confirmed by an acknowledgement for best investor relations team<br />
granted to the Company in <strong>2009</strong> by the Ljubljana Stock Exchange. In the opinion of the evaluation<br />
committee, we earned this award for our exceptional efforts and professionalism in communications<br />
with investors both in daily contacts as well as at exemplarily organised meetings with investors in<br />
Slovenia and abroad.<br />
28<br />
<strong>Annual</strong> <strong>Report</strong> <strong>Gorenje</strong> <strong>Group</strong> <strong>2009</strong>
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