ANNUAL REPORT 2008 - Gorenje Group

104
2008
The calculation of goodwill is provisional and is based on carrying amount of net assets.
PUBLICUS, d.o.o., is the holder of a municipal waste management concession for the municipalities
Komenda, Kamnik, Postojna and Pivka. Through the acquisition of the company, the Gorenje Group
desires to complete the circle of activities in the area of waste management. The Gorenje Group
manages hazardous waste through its company Kemis and secondary raw materials through its
company Surovina. PUBLICUS is an important component part helping to realize the idea of global
service for industry, in which all three types of waste are included. PUBLICUS is an important part
of activities associated with ecology also in respect of mass flow of waste. This opens new possibilities
under the new law governing waste disposal, such as alternative fuel production from highcaloric
waste fractions.
IG AP, d.o.o., Kisovec
in TEUR 2008
Property, plant and equipment 223
Inventories 10
Investments 57
Operating receivables 761
Cash 44
Provisions -6
Financial liabilities -551
Operating liabilities -177
Net difference (assets – liabilities) 361
Acquired share (100 %) 361
Goodwill 705
Purchase price 1,066
Cash -44
Net outflow 1,022
Prior to the acquisition of IG AP, d.o.o., all disputable assets (disputable receivables) had been excluded
from its balance sheet. The estimated fair value of acquired assets and liabilities does not essentially
deviate from the book value. Consequently the goodwill, which was established upon the
acquisition, has not been allocated to other assets.
The strategy of Istrabenz Gorenje comprises three policies: production, trading and sale of electrical
power, production and sale of wood biomass, and engineering in the process and power industry.
The latter has developed with the help of certain staff which, however, has not sufficed for
a breakthrough in this area where not only references but also experiences and concentrated knowhow
are required. Through the acquisition of Avtomatizacija, the engineering area within the IG
Group has filled up this gap and set the base for a quicker development of the respective area.
G o r e n j e K u h i n j e , d . o . o . , K i e w
in TEUR 2008
Property, plant and equipment 688
Inventories 453
Operating receivables 242
Cash 7
Financial liabilities -140
Operating liabilities -397
Net difference (assets – liabilities) 853
Acquired share (69.986 %) 597
Negative goodwill 28
Purchase price 569
Cash -7
Net outflows 562