ANNUAL REPORT 2008 - Gorenje Group

118
2008
Both deferred tax assets and deferred tax liabilities were recognised by the Group companies in
2008. Deferred tax liabilities decreased (through profit or loss) and deferred tax assets increased
the tax base of the Group companies in 2008.
Deferred tax assets and deferred tax liabilities were not set off in the balance sheet.
Note 26 – Inventories
253,004 TEUR
in TEUR
Home
appliances
2008 2007
Other Total
Home
appliances
Other
Materials 72,401 9,584 81,985 60,413 9,173 69,586
Work in progress 18,448 3,704 22,152 13,468 3,346 16,814
Products 104,064 10,326 114,390 103,316 10,094 113,410
Merchandise 29,942 1,196 31,138 13,529 1,241 14,770
Advances 3,177 162 3,339 2,882 9 2,891
Total 228,032 24,972 253,004 193,608 23,863 217,471
Total
As at 31 December 2008, inventories showed an increase by TEUR 35,533 over the previous year’s
figure. An increase in inventories of merchandise was due to the inclusion of Atag Europe BV in the
Gorenje Group, and an increase in raw materials and materials was due to early, cost-effective purchases
of raw materials and materials. Inventories writedowns amounted to TEUR 1,727 in 2008.
Advances include advances for inventories of raw materials and materials.
Note 27 – Current investments
64,470 TEUR
in TEUR 2008 2007
Available-for-sale investments 22,224 17,276
Short-term deposits 2,140 3,106
Short-term loans 34,729 4,518
Interest receivable 192 182
Fair value of derivatives 5,185 2,026
Other current financial receivables 0 2
Total 64,470 27,110
A change in the fair value of available-for-sale investments in the amount of TEUR 8,895 refers to
a decrease in the fair value of shares to their stock market price as at 31 December 2008. The fair
value reserve in shareholders’ equity was reversed in the amount of TEUR 3,883 and the remaining
amount of TEUR 5,012, established by applying the valuation model based on conditions on the
limited active market, was recorded under financial expenses. The shares were transferred by the
Group from non-current investments to current investments in order to uniformly present available-for-sale
financial instruments.
Short-term interest receivable includes interest receivable from short-term loans accounted for until
the end of 2008.
Short-term loans include cash surplus deposited in short-term time deposits with banks and entities.
The interest rate for bank deposits and loans ranges from 2.8 % to 7.0%.
Movement of investments in available-for-sale investments
in TEUR 2008 2007
Opening balance at 1 January 17,276 7,936
Increase 6,452 8,576
Disposal of Group companies -53 0
Decrease -4,680 -7,228
Change in fair value -8,895 7,992
Transfer from non-current investments 12,124 0
Closing balance at 31 December 22,224 17,276