Annual Report Gorenje Group 2009

Income tax of the group companies that has positive results in 2009 amounted to 2.9 million EUR. Net
profit or loss of the Gorenje Group additionally worsened to the level of loss amounting to 12.2 million
EUR.
FINANCIAL POSITION
The Gorenje Group responded to the financial crisis that marked the year 2009 by taking measures for
the protection of cash flow and decrease in short-term loans and borrowings. This was a set anti-crisis
measures adopted by the management board of the Group in order to be able to achieve a positive
cash flow by the limitation of investments and reduction in inventories and receivables. Such measures
shall protect the Gorenje Group against liquidity problems; the positive cash flow achieved in 2009
means that the Group will be ready at the end of crisis to take advantage of the new growth in the
markets that will follow. The measures influenced also the statement of financial position of the Gorenje
Group.
The value of long-term assets decreased in 2009 due a slowed-down investing cycle and transfer of
some long-term investments to short-term ones.
The value of current assets reduced by 47.3 million EUR when compared to the balance at the end of
the year 2008. The main reason for this reduction is the decrease in inventories (by 35.0 million EUR)
and receivables due from customers (by 10.3 million EUR) as a consequence of anti-crisis measures of
the Group.
The share of long-term assets amounted to 48.7 % in the structure of assets and increased by 0.5 %
over the previous year.
Structure of assets of the Gorenje Group
Source: Data of the Gorenje Group
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Annual Report Gorenje Group 2009