ANNUAL REPORT 2008 - Gorenje Group
ANNUAL REPORT 2008 - Gorenje Group ANNUAL REPORT 2008 - Gorenje Group
112 2008 and projected on the basis of adequate assumptions. The main underlying assumptions used to calculate the value are: the growth rate 2 % of cash flow and the discount rate of 11.09 %. The recoverable value of the cash-generating unit was determined to be higher than its carrying amount, including that of goodwill and trademarks ATAG, ETNA and PELGRIM. Therefore there was no need for impairment. Impairment testing of goodwill arising from the acquisition of PUBLICUS, d.o.o., was carried out. The calculations are based on cash flow projections for PUBLICUS, d.o.o., which have been prepared on the basis of the accepted business plans for the following year and projected on the basis of adequate assumptions. The main underlying assumptions used to calculate the value are: the growth rate of 2 % and the discount rate of 7 %. The recoverable value of the cash-generating unit was determined to be higher than its carrying amount, including that of goodwill. Therefore there was need for impairment of goodwill. Impairment testing of goodwill arising from the acquisition of IG AP, d.o.o., was carried out. The calculations are based on cash flow projections for IG AP, d.o.o., which have been prepared on the basis of the accepted business plans for the following year and projected on the basis of adequate assumptions. The main underlying assumptions used to calculate the value are: the growth rate of 2 % and the discount rate of 7 %. The recoverable value of the cash-generating unit was determined to be higher than its carrying amount, including that of goodwill. Therefore there was need for impairment of goodwill. Impairment testing of goodwill arising from the acquisition of Mora Moravia, s r.o., was carried out. The calculations are based on cash flow projections for Mora Moravia, s r.o., which have been prepared on the basis of the accepted business plans for the following year and projected on the basis of adequate assumptions. The main underlying assumptions used to calculate the value are: the growth rate of 2 % and the discount rate of 7 %. The recoverable value of the cash-generating unit was determined to be higher than its carrying amount, including that of goodwill. Therefore there was need for impairment of goodwill. Impairment testing of goodwill arising from the acquisition of Invest, d.o.o., was carried out. The calculations are based on cash flow projections for Invest, d.o.o., which have been prepared on the basis of the accepted business plans for the following year and projected on the basis of adequate assumptions. The main underlying assumptions used to calculate the value are: the growth rate of 2 % and the discount rate of 7 %. The recoverable value of the cash-generating unit was determined to be higher than its carrying amount, including that of goodwill. Therefore there was need for impairment of goodwill. Impairment testing of goodwill arising from the acquisition of Surovina, d.d., was carried out. The calculations are based on cash flow projections for Surovina, d.d., which have been prepared on the basis of the accepted business plans for the following year and projected on the basis of adequate assumptions. The main underlying assumptions used to calculate the value are: the growth rate of 2 % and the discount rate of 7 %. The recoverable value of the cash-generating unit was determined to be higher than its carrying amount, including that of goodwill. Therefore there was need for impairment of goodwill.
113 in TEUR Movement of intangible assets in 2008 Long-term deferred development costs Concessions, patents, licenses, trademarks and similar rights Goodwill Intangible assets under construction Cost 1 January 2008 20,045 22,358 4,597 441 47,441 Acquisition 1,205 967 3,346 5,518 Acquisition through business combinations 2,138 8,618 64,453 75,209 Trademarks 61,964 61,964 Recalculation of goodwill for Surovina, d.d. based on incomplete 308 308 initial accounting in 2007 Disposals, write-downs -7 -1,028 -23 -1,058 Other transfers 1,665 1,983 -3,493 155 Exchange differences -11 -148 -1 -160 Cost 31 December 2008 25,035 94,714 69,358 270 189,377 Accumulated amortisation 1 January 2008 7,767 14,580 22,347 Disposal of Group companies Disposals, writedowns -1,007 -1,007 Amortisation expense 2,750 2,471 5,221 Other transfers 480 -565 -85 Exchange differences -16 -69 -85 Accumulated amortisation 31 December 2008 10,981 15,410 0 0 26,391 Carrying amount 1 January 2008 12,278 7,778 4,597 441 25,094 Carrying amount 31 December 2008 14,054 79,304 69,358 270 162,986 Total
- 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 100 and 101: 100 2008 East Europe: Ukraine, Russ
- 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 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
- Page 151 and 152: 151 The amendments to IFRS 2 are no
- Page 153 and 154: 153 The exposure to each type of ri
- Page 155 and 156: 155 6. Segment reporting Segment in
- Page 157 and 158: 157 Other finance income mostly rep
- Page 159 and 160: 159 Note 16 - Property, plant and e
- Page 161 and 162: 161 Note 18 - Investments in subsid
112<br />
<strong>2008</strong><br />
and projected on the basis of adequate assumptions. The main underlying assumptions used to calculate<br />
the value are: the growth rate 2 % of cash flow and the discount rate of 11.09 %.<br />
The recoverable value of the cash-generating unit was determined to be higher than its carrying<br />
amount, including that of goodwill and trademarks ATAG, ETNA and PELGRIM. Therefore there<br />
was no need for impairment.<br />
Impairment testing of goodwill arising from the acquisition of PUBLICUS, d.o.o., was carried out.<br />
The calculations are based on cash flow projections for PUBLICUS, d.o.o., which have been prepared<br />
on the basis of the accepted business plans for the following year and projected on the basis<br />
of adequate assumptions. The main underlying assumptions used to calculate the value are: the<br />
growth rate of 2 % and the discount rate of 7 %.<br />
The recoverable value of the cash-generating unit was determined to be higher than its carrying<br />
amount, including that of goodwill. Therefore there was need for impairment of goodwill.<br />
Impairment testing of goodwill arising from the acquisition of IG AP, d.o.o., was carried out. The calculations<br />
are based on cash flow projections for IG AP, d.o.o., which have been prepared on the basis<br />
of the accepted business plans for the following year and projected on the basis of adequate assumptions.<br />
The main underlying assumptions used to calculate the value are: the growth rate of 2<br />
% and the discount rate of 7 %.<br />
The recoverable value of the cash-generating unit was determined to be higher than its carrying<br />
amount, including that of goodwill. Therefore there was need for impairment of goodwill.<br />
Impairment testing of goodwill arising from the acquisition of Mora Moravia, s r.o., was carried out.<br />
The calculations are based on cash flow projections for Mora Moravia, s r.o., which have been prepared<br />
on the basis of the accepted business plans for the following year and projected on the basis<br />
of adequate assumptions. The main underlying assumptions used to calculate the value are: the<br />
growth rate of 2 % and the discount rate of 7 %.<br />
The recoverable value of the cash-generating unit was determined to be higher than its carrying<br />
amount, including that of goodwill. Therefore there was need for impairment of goodwill.<br />
Impairment testing of goodwill arising from the acquisition of Invest, d.o.o., was carried out. The<br />
calculations are based on cash flow projections for Invest, d.o.o., which have been prepared on the<br />
basis of the accepted business plans for the following year and projected on the basis of adequate<br />
assumptions. The main underlying assumptions used to calculate the value are: the growth rate of<br />
2 % and the discount rate of 7 %.<br />
The recoverable value of the cash-generating unit was determined to be higher than its carrying<br />
amount, including that of goodwill. Therefore there was need for impairment of goodwill.<br />
Impairment testing of goodwill arising from the acquisition of Surovina, d.d., was carried out. The<br />
calculations are based on cash flow projections for Surovina, d.d., which have been prepared on the<br />
basis of the accepted business plans for the following year and projected on the basis of adequate<br />
assumptions. The main underlying assumptions used to calculate the value are: the growth rate of<br />
2 % and the discount rate of 7 %.<br />
The recoverable value of the cash-generating unit was determined to be higher than its carrying<br />
amount, including that of goodwill. Therefore there was need for impairment of goodwill.
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