ANNUAL REPORT 2008 - Gorenje Group

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Note 13 – Revenue
1,330,753 TEUR
in TEUR 2008 2007
Revenue from the sale of products and merchandise 1,259,264 1,241,084
Revenue from the sale of services 71,489 52,354
Total 1,330,753 1,293,438
Note 14 – Other operating income
26,341 TEUR
in TEUR 2008 2007
Income from subsidies, grants and compensations 1,130 1,572
Rental income 930 759
Reversal of long-term provisions 4,452 2,646
Deferred income from government grants 2,951 2,568
Gain on sale of property, plant and equipment 1,807 1,983
Revaluation of investment property to fair value 2,566 0
Negative goodwill 28 128
Other operating income 12,477 15,709
Total 26,341 25,365
Negative goodwill recognised directly in the 2008 income statement in the amount of TEUR 28 resulted
from the acquisition of the majority share in Gorenje Kuhinje, d.o.o.
Other operating income includes, as its major item, income from compensations in damages, income
from the reversal of allowances for receivables, income from the implementation of the Directive
on Waste Electrical and Electronic Equipment, and other operating income.
Rental income
in TEUR 2008 2007
Future minimum lease payments – up to 1 year 930 759
Future minimum lease payments – from 2 to 5 years 2,286 3,053
Total 3,216 3,812
Note 15 – Cost of goods, materials and services
1,027,908 TEUR
in TEUR 2008 2007
Cost of merchandise sold 289,877 249,106
Cost of materials 531,752 562,073
Cost of services 206,279 193,585
Total 1,027,908 1,004,764
The cost of services includes cost of creation of provisions for warranties in the amount of TEUR
22,485 (in 2007: TEUR 18,925).
Note 16 – Employee benefits expense
226,487 TEUR
in TEUR 2008 2007
Wages and salaries 161,519 145,350
Social security contributions 36,232 34,233
Other employee benefits expense 28,736 28,970
Total 226,487 208,553
Other employee benefits expense includes costs of creation of provisions for retirement benefits in
the amount of TEUR 1,408 (in 2007: TEUR 753).
A portion of employee benefits expense in the amount of TEUR 3,170 was used to create deferred
income from government grants in Gorenje I.P.C., d.o.o., which has the status of a company employing
disabled persons.