Annual Report Gorenje Group 2009
Annual Report Gorenje Group 2009 Annual Report Gorenje Group 2009
Other furniture (halls, bedrooms, living rooms, children’s rooms) contributed 9 % of total sales revenue. The programme was revamped and its quality improved since it shall move from a lower price bracket to a middle price bracket. ECOLOGY, ENERGY AND SERVICES DIVISION Flexibility and innovativeness of our processes and services enabled the achievement of good business results in spite of the crisis that substantially decreased the scope of business activities in industrial sectors as our key market in 2009. Sales revenue of the Division remained at the level of the previous year. Due to the world financial crisis the prices of raw materials and energy products dropped at the beginning of the year 2009; as a result the selling prices of our main products dropped as well: waste iron, packaging, wood biomass, electrical energy and coal. This had a different impact on the sales volume of our products. In case of waste iron the volume remained at the level of the year 2008 and the sales revenue decreased to the level of the year 2006. Services relating to hazardous waste were marketed also in other segments due to the reduced scope of industrial production in Slovenia, Croatia and other parts of South-East Europe. The sales revenue significantly increased in trade waste due to the obtained new concession in municipalities that have no organised centres for waste management. The quantity of electricity sold was doubled in the year 2009, but sales revenue remained at the level of the year 2008. The cross-frontier trade in electricity in South-East and Eastern Europe was of vital importance. The quantity sale of wood biomass almost doubled in the Slovene market. The main reason for such growth is government subsidies for the use of renewable sources. The sale of coal did not achieve any important growth over the year 2008. We were successful in the representation and engineering of medical equipment, since we were professionally prepared for an intensive investment year in this area. In 2009 the state of Slovenia equipped some of the newly opened hospitals. The sale of tractors, fork-lift trucks, and other equipment considerably reduced mostly due to the limitation of investments in all areas of industry and agriculture. In 2009 the activities started also in the area of sale of equipment for solar power plants. The sales structure of the division drastically changed due to the adjustment to new conditions in the market - from the aspect of customers as well as from the aspect of products and kinds of services. 65 Annual Report Gorenje Group 2009
Structure of sales of the Ecology, Energy and Services Division Source: Data of the Gorenje Group 66 Annual Report Gorenje Group 2009
- 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
- Page 69 and 70: A sharper fall in the market was su
- Page 71: HOME INTERIOR DIVISION South-Easter
- 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
- Page 85 and 86: The most important material of the
- Page 87 and 88: Information system risks are relate
- Page 89 and 90: Ecology, energy and services divisi
- Page 91 and 92: RESEARCH AND DEVELOPMENT Household
- Page 93 and 94: 52. Kemis-Termoclean, d.o.o., Croat
- Page 95 and 96: Achievement of goals in the year 20
- Page 97 and 98: Financial statements of Gorenje Gro
- Page 99 and 100: CONSOLIDATED STATEMENT OF FINANCIAL
- Page 101 and 102: CONSOLIDATED STATEMENT OF CHANGES I
- Page 103 and 104: NOTES TO THE CONSOLIDATED FINANCIAL
- Page 105 and 106: A contingent liability of the acqui
- Page 107 and 108: ) Foreign currency (i) Foreign curr
- Page 109 and 110: value of the derivative is recognis
- Page 111 and 112: Acquisition of minority interests A
- Page 113 and 114: current economic and credit conditi
- Page 115 and 116: (iv) Provisions for retirement bene
- Page 117 and 118: s) Comparative information Comparat
- Page 119 and 120: IFRIC 12 Service Concession Arrange
- Page 121 and 122: anticipated reversionary increases,
Other furniture (halls, bedrooms, living rooms, children’s rooms) contributed 9 % of total sales<br />
revenue. The programme was revamped and its quality improved since it shall move from a lower price<br />
bracket to a middle price bracket.<br />
ECOLOGY, ENERGY AND SERVICES DIVISION<br />
Flexibility and innovativeness of our processes and services enabled the achievement of good<br />
business results in spite of the crisis that substantially decreased the scope of business activities in<br />
industrial sectors as our key market in <strong>2009</strong>. Sales revenue of the Division remained at the level of the<br />
previous year.<br />
Due to the world financial crisis the prices of raw materials and energy products dropped at the<br />
beginning of the year <strong>2009</strong>; as a result the selling prices of our main products dropped as well: waste<br />
iron, packaging, wood biomass, electrical energy and coal. This had a different impact on the sales<br />
volume of our products. In case of waste iron the volume remained at the level of the year 2008 and<br />
the sales revenue decreased to the level of the year 2006.<br />
Services relating to hazardous waste were marketed also in other segments due to the reduced scope<br />
of industrial production in Slovenia, Croatia and other parts of South-East Europe. The sales revenue<br />
significantly increased in trade waste due to the obtained new concession in municipalities that have no<br />
organised centres for waste management.<br />
The quantity of electricity sold was doubled in the year <strong>2009</strong>, but sales revenue remained at the level of<br />
the year 2008. The cross-frontier trade in electricity in South-East and Eastern Europe was of vital<br />
importance.<br />
The quantity sale of wood biomass almost doubled in the Slovene market. The main reason for such<br />
growth is government subsidies for the use of renewable sources. The sale of coal did not achieve any<br />
important growth over the year 2008.<br />
We were successful in the representation and engineering of medical equipment, since we were<br />
professionally prepared for an intensive investment year in this area. In <strong>2009</strong> the state of Slovenia<br />
equipped some of the newly opened hospitals.<br />
The sale of tractors, fork-lift trucks, and other equipment considerably reduced mostly due to the<br />
limitation of investments in all areas of industry and agriculture.<br />
In <strong>2009</strong> the activities started also in the area of sale of equipment for solar power plants.<br />
The sales structure of the division drastically changed due to the adjustment to new conditions in the<br />
market - from the aspect of customers as well as from the aspect of products and kinds of services.<br />
65<br />
<strong>Annual</strong> <strong>Report</strong> <strong>Gorenje</strong> <strong>Group</strong> <strong>2009</strong>