Annual Report Gorenje Group 2009

Activities for the optimisation of costs of services started already in December 2008. The first concrete
results were evident in April 2009, and total savings reached 37.9 million EUR or 18.7 % when
compared to the data of the year 2008 (after the exclusion of services relating to the sale of medical
equipment which was an extraordinary transaction in comparison with the year 2008 and the effect of
the company Atag due to the achievement of comparable data in the periods observed). It is important
that the reduction in costs of services amounted to 6.6 million EUR or 12.4 % in the last quarter of 2009
(when compared to the same period 2008) in spite of the growth of the scope of business activities.
Labour costs reduced by 7.2 million EUR (3.2 %) over the year 2008 and the number of employees
decreased by 648 during the year. But these data are not directly comparable. If the company Atag
were excluded from costs in the first half of the year 2009 (10.4 million EUR) and government
subsidies in 2009 (5.0 million EUR) are considered, and effects of requirements of employees during
the break in work (2.7 million EUR), this results in labour costs lower by 25.3 million EUR or 11.2 %.
Such a reduction is in compliance with the decision of the management board to use all the possibilities
of gradual adjustment of the number of employees to the lower scope of business activities without any
immediate termination of employment contracts and to use all the possibilities of government subsidies
relating to labour work.
Quarterly movement of EBIT (in thousand EUR)
Source: Data of the Gorenje Group
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Annual Report Gorenje Group 2009