ANNUAL REPORT 2008 - Gorenje Group
ANNUAL REPORT 2008 - Gorenje Group ANNUAL REPORT 2008 - Gorenje Group
100 2008 East Europe: Ukraine, Russia, Macedonia, Croatia, Serbia, Montenegro, Albania, Bosnia and Herzegovina, Belarus, Kosovo, Moldova. Other: other countries. 7. Cash flow statement The cash flow statement has been prepared under the indirect method on the basis of the items in the balance sheet at 31 December 2008, the balance sheet at 31 December 2007, the income statement for the year ended 31 December 2008, and the additional information required for the adjustment of inflows and outflows. 8. Composition of the Gorenje Group In accordance with International Financial Reporting Standards (IFRSs), the consolidated financial statements of the Gorenje Group comprise the financial statements of the holding company Gorenje, d.d., the financial statements of 66 subsidiaries, and the financial statements of 11 jointly controlled companies: Companies operating in Slovenia Share in equity in % Gorenje I.P.C., d.o.o., Velenje 100.00 Gorenje Tiki, d.o.o., Ljubljana 99.982 Gorenje GTI, d.o.o., Velenje 100.00 Gorenje Notranja oprema, d.o.o., Velenje 99.98 Gorenje Gostinstvo, d.o.o., Velenje 100.00 LINEA SP, d.o.o., Velenje 100.00 ENERGYGOR, d.o.o., Velenje 100.00 KEMIS, d.o.o., Radomlje 100.00 Gorenje Orodjarna, d.o.o., Velenje 100.00 ZEOS, d.o.o., Ljubljana 51.00 ISTRABENZ GORENJE, d.o.o., Nova Gorica 49.344 GEN-I, d.o.o., Krško 24.67 Istrabenz investicijski inženiring, d.o.o., Nova Gorica 49.344 SUROVINA, d.d., Maribor 51.00 Indop, d.o.o., Šoštanj 100.00 ERICo, d.o.o., Velenje 51.00 Istrabenz Gorenje inženiring, d.o.o., Ljubljana 49.344 Gorenje Projekt, d.o.o., Ljubljana 100.00 Gorenje design studio, d.o.o., Velenje 52.00 PUBLICUS, d.o.o., Ljubljana 51.00 IG AP, d.o.o., Kisovec 49.344
101 Companies operating abroad Share in equity in % Gorenje Beteiligungsgesellschaft m.b.H., Austria 100.00 Gorenje Austria Handelsgesellchaft m.b.H., Austria 100.00 Gorenje Vertriebsgesellschaft m.b.H., Germany 100.00 Gorenje Körting Italia S.r.l., Italy 100.00 Gorenje France S.A.S., France 100.00 Gorenje BELUX S.a.r.l., Belgium 100.00 Gorenje Espana, S.L., Spain 100.00 Gorenje UK Ltd., Great Britain 100.00 Gorenje Skandinavien A/S, Denmark 100.00 Gorenje AB, Sweden 100.00 Gorenje OY, Finland 100.00 Gorenje AS, Norway 100.00 OÜ Gorenje, Estonia 100.00 SIA Gorenje, Latvia 100.00 Gorenje spol. s r.o., Czech Republic 100.00 Gorenje real spol. s r.o., Czech Republic 100.00 Gorenje Slovakia s.r.o., Slovak Republic 100.00 Gorenje Budapest Kft., Hungary 100.00 Gorenje Polska Sp. z o.o., Poland 100.00 Gorenje Bulgaria EOOD, Bulgaria 100.00 Gorenje Zagreb, d.o.o., Croatia 100.00 Gorenje Skopje, d.o.o., Macedonia 100.00 Gorenje Commerce, d.o.o., Bosnia and Herzegovina 100.00 Gorenje, d.o.o., Serbia 100.00 Gorenje Podgorica , d.o.o., Montenegro 99.972 Gorenje Romania S.R.L., Romania 100.00 Gorenje aparati za domaćinstvo, d.o.o., Serbia 100.00 Mora Moravia s r.o., Czech Republic 100.00 Gorenje Küchen GmbH, Austria 99.98 Gorenje - kuchyně spol. s r.o., Czech Republic 99.98 Kemis-Termoclean, d.o.o., Croatia 100.00 Kemis - BH, d.o.o., Bosnia and Herzegovina 100.00 Gorenje Invest, d.o.o., Serbia 100.00 Gorenje Gulf FZE, United Arab Emirates 100.00 Gorenje Tiki, d.o.o., Serbia 99.982 GEN-I Zagreb, d.o.o., Croatia 24.67 Intrade energija, d.o.o., Bosnia and Herzegovina 25.17 Vitales, d.o.o., Nova Bila, Bosnia and Herzegovina 49.344 Gorenje Istanbul Ltd., Turkey 100.00 Sirovina, a.d., Serbia 51.00 Gorenje TOV, Ukraine 100.00 Vitales, d.o.o., Bihać, Bosnia and Herzegovina 24.67 GEN-I, d.o.o, Serbia 24.67 ST Bana Nekretnine, d.o.o., Serbia 100.00 GEN-I Budapest, Kft., Hungary 24.67 Kemis – SRS, d.o.o., Bosnia and Herzegovina 100.00 ATAG Europe BV, The Netherlands 100.00 ATAG Nederland BV, The Netherlands 100.00 ATAG België NV, Belgium 100.00 ATAG Financiele Diensten BV, The Netherlands 100.00 ATAG Financial Services BV, The Netherlands 100.00 Intell Properties BV, The Netherlands 100.00 ATAG Special Product BV, The Netherlands 100.00 Gorenje Holding B.V., The Netherlands 100.00 Gorenje Kazakhstan, TOO, Kazakhstan 100.00 Gorenje kuhinje, d.o.o., Ukraine 69.986
- Page 49 and 50: 49 3.4 PURCHASING Raw material mark
- Page 51 and 52: 51 included a connection to the nat
- Page 53 and 54: 53 The appliances have been classif
- Page 55 and 56: 55 3.7 PRODUCTION The majority of p
- Page 57 and 58: 57 3.9 FINANCIAL MANAGEMENT The uni
- Page 59 and 60: 59 Sales risks are associated with
- Page 61 and 62: 61 3.10.3 OPERATING RISK MANAGEMENT
- Page 63 and 64: 63 3.11 CREATING VALUE FOR SHAREHOL
- Page 65 and 66: 65 3.12 BUSINESS PLAN AND ANTICIPAT
- Page 67 and 68: 67 3.13 REPORT ON SOCIAL RESPONSIBI
- Page 69 and 70: 69 3.13.2 RESPONSIBILITY TO USERS O
- Page 71 and 72: 71 The Kemis Group has co-operated
- Page 73 and 74: 73 Costs of goods, materials and se
- Page 77 and 78: ACCOUNTING REPORT
- Page 79 and 80: 79 Consolidated balance sheet of th
- Page 82 and 83: 82 2008 Consolidated statement of c
- Page 84 and 85: 84 2008 4.1.1.2 NOTES TO THE CONSOL
- Page 86 and 87: 86 2008 (ii) Foreign operations The
- Page 88 and 89: 88 2008 tributable to bringing the
- Page 90 and 91: 90 2008 or services or for administ
- Page 92 and 93: 92 2008 (i) Warranties A provision
- Page 94 and 95: 94 2008 that are expected to be app
- Page 96 and 97: 96 2008 4. Determination of fair va
- Page 98 and 99: 98 2008 hedging of currency risk an
- Page 102 and 103: 102 2008 9. Minority interest Minor
- Page 104 and 105: 104 2008 The calculation of goodwil
- Page 106 and 107: 106 2008 Gorenje Imobilia, d.o.o.,
- Page 108 and 109: 108 2008 GEN-I Zagreb, d.o.o. in TE
- Page 110 and 111: 110 2008 Other employee benefits ex
- Page 112 and 113: 112 2008 and projected on the basis
- Page 114 and 115: 114 2008 Movement of intangible ass
- Page 116 and 117: 116 2008 Movement of property, plan
- Page 118 and 119: 118 2008 Both deferred tax assets a
- Page 120 and 121: 120 2008 Net profit or loss is dist
- Page 122 and 123: 122 2008 Note 35 - Current financia
- Page 124 and 125: 124 2008 Liquidity risk Shown below
- Page 126 and 127: 126 2008 31 December 2007 in TEUR N
- Page 128 and 129: 128 2008 A portion of hedged items
- Page 130 and 131: 130 2008 Note 42 - Business segment
- Page 132 and 133: 132 2008 4.1.1.3 POROČILO REVIZORJ
- Page 134 and 135: 134 2008 Gorenje Gulf FZE, United A
- Page 136 and 137: 136 2008 Gorenje kuhinje, d.o.o., U
- Page 138: 138 2008 Cash flow statement of Gor
- Page 141 and 142: 141 Share premium Legal and statuto
- Page 143 and 144: 143 (b) Financial instruments (i) N
- Page 145 and 146: 145 is based on an independent appr
- Page 147 and 148: 147 and work in progress, cost incl
- Page 149 and 150: 149 bates. Revenue is recognised wh
101<br />
Companies operating abroad Share in equity in %<br />
<strong>Gorenje</strong> Beteiligungsgesellschaft m.b.H., Austria 100.00<br />
<strong>Gorenje</strong> Austria Handelsgesellchaft m.b.H., Austria 100.00<br />
<strong>Gorenje</strong> Vertriebsgesellschaft m.b.H., Germany 100.00<br />
<strong>Gorenje</strong> Körting Italia S.r.l., Italy 100.00<br />
<strong>Gorenje</strong> France S.A.S., France 100.00<br />
<strong>Gorenje</strong> BELUX S.a.r.l., Belgium 100.00<br />
<strong>Gorenje</strong> Espana, S.L., Spain 100.00<br />
<strong>Gorenje</strong> UK Ltd., Great Britain 100.00<br />
<strong>Gorenje</strong> Skandinavien A/S, Denmark 100.00<br />
<strong>Gorenje</strong> AB, Sweden 100.00<br />
<strong>Gorenje</strong> OY, Finland 100.00<br />
<strong>Gorenje</strong> AS, Norway 100.00<br />
OÜ <strong>Gorenje</strong>, Estonia 100.00<br />
SIA <strong>Gorenje</strong>, Latvia 100.00<br />
<strong>Gorenje</strong> spol. s r.o., Czech Republic 100.00<br />
<strong>Gorenje</strong> real spol. s r.o., Czech Republic 100.00<br />
<strong>Gorenje</strong> Slovakia s.r.o., Slovak Republic 100.00<br />
<strong>Gorenje</strong> Budapest Kft., Hungary 100.00<br />
<strong>Gorenje</strong> Polska Sp. z o.o., Poland 100.00<br />
<strong>Gorenje</strong> Bulgaria EOOD, Bulgaria 100.00<br />
<strong>Gorenje</strong> Zagreb, d.o.o., Croatia 100.00<br />
<strong>Gorenje</strong> Skopje, d.o.o., Macedonia 100.00<br />
<strong>Gorenje</strong> Commerce, d.o.o., Bosnia and Herzegovina 100.00<br />
<strong>Gorenje</strong>, d.o.o., Serbia 100.00<br />
<strong>Gorenje</strong> Podgorica , d.o.o., Montenegro 99.972<br />
<strong>Gorenje</strong> Romania S.R.L., Romania 100.00<br />
<strong>Gorenje</strong> aparati za domaćinstvo, d.o.o., Serbia 100.00<br />
Mora Moravia s r.o., Czech Republic 100.00<br />
<strong>Gorenje</strong> Küchen GmbH, Austria 99.98<br />
<strong>Gorenje</strong> - kuchyně spol. s r.o., Czech Republic 99.98<br />
Kemis-Termoclean, d.o.o., Croatia 100.00<br />
Kemis - BH, d.o.o., Bosnia and Herzegovina 100.00<br />
<strong>Gorenje</strong> Invest, d.o.o., Serbia 100.00<br />
<strong>Gorenje</strong> Gulf FZE, United Arab Emirates 100.00<br />
<strong>Gorenje</strong> Tiki, d.o.o., Serbia 99.982<br />
GEN-I Zagreb, d.o.o., Croatia 24.67<br />
Intrade energija, d.o.o., Bosnia and Herzegovina 25.17<br />
Vitales, d.o.o., Nova Bila, Bosnia and Herzegovina 49.344<br />
<strong>Gorenje</strong> Istanbul Ltd., Turkey 100.00<br />
Sirovina, a.d., Serbia 51.00<br />
<strong>Gorenje</strong> TOV, Ukraine 100.00<br />
Vitales, d.o.o., Bihać, Bosnia and Herzegovina 24.67<br />
GEN-I, d.o.o, Serbia 24.67<br />
ST Bana Nekretnine, d.o.o., Serbia 100.00<br />
GEN-I Budapest, Kft., Hungary 24.67<br />
Kemis – SRS, d.o.o., Bosnia and Herzegovina 100.00<br />
ATAG Europe BV, The Netherlands 100.00<br />
ATAG Nederland BV, The Netherlands 100.00<br />
ATAG België NV, Belgium 100.00<br />
ATAG Financiele Diensten BV, The Netherlands 100.00<br />
ATAG Financial Services BV, The Netherlands 100.00<br />
Intell Properties BV, The Netherlands 100.00<br />
ATAG Special Product BV, The Netherlands 100.00<br />
<strong>Gorenje</strong> Holding B.V., The Netherlands 100.00<br />
<strong>Gorenje</strong> Kazakhstan, TOO, Kazakhstan 100.00<br />
<strong>Gorenje</strong> kuhinje, d.o.o., Ukraine 69.986
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