ANNUAL REPORT 2008 - Gorenje Group

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12 2008 EVENTS IN 2008 BUSINESS ACTIVITIES • acquisition of Atag Europe, the Dutch provider of household appliances • establishment of Gorenje Design Studio and the Gorenje Kazakhstan company • purchase of majority share in Publicus company • opening of a showroom in Belgrade (Novi Beograd) • opening of new distribution centre in Slovakia • opening of new commercial and logistics complex in Warsaw, Poland • launch of new generation of 600 mm stoves and ovens and 500 mm hobs and stoves in Mora Moravia • development of B-energy class dryer and launch of new Slim washing machine with tank • development of several new models of refrigerator-freezers. FAIRS, EVENTS AND VISITS • HomeAppliances@IFA 2008 fair, Berlin – »Made for iPod« refrigeratorfreezer • visit of Slovenian President, Dr. Danilo Türk, who expressed satisfaction with Gorenje’s innovativeness and development • 10th Futura 2008 specialized electronics fair, Salzburg • Gorenje Pininfarina Black designer collection presented at the headquarters of Pininfarina Extra in Turin • Gorenje Tiki at the M.C.E. fair in Milan • ForArch international architectural and building fair, Czech Republic • presentation of new products of the Atag, Pelgrim and Etna brands to kitchen experts in the Netherlands • opening of first zero carbon house with zero energy consumption on French soil in cooperation with the Zero Energy Development (ZED) factory based in England • exhibition of refrigerator collection in the colours of the flags of Slovenia, Czech Republic and EU on Europe Day • 20 the Fashion Week in Moscow – new Gorenje Ora-Ïto White collection
13 AWARDS FOR DESIGN, INNOVATIVENESS AND BRAND NAMES • BIO awards for design, 1979, 1996, 2002, 2006, 2008 • Plus X AwardTM, 2004, 2005, 2006, 2007, 2008 • Red Dot Design Award, 2005 • The Designer Manufacturer’s Award, 2006 • Golden Tie, 2006, 2008 • Observeur Design 08 Audience Award, 2007 • Wallpaper, selection, 2008 • Slovenian Chamber of Commerce awards for innovations, 2003, 2004, 2005, 2007, 2008 • Formatool medal, 2005, 2007 • Best Innovation Idea award at the Heureka! 06 show, 2006 • Get Connected Product of the Year Award, 2006 • Le Grand Prix de l’Innovation nomination, 2007 • Podium de l’Innovation, selection, 2008 • Trend, 2005 • Success Story, 2005 • Superbrands, 2006, 2007, 2008 • Trusted Brand, 2007, 2008 • Eurobrand, 2007, 2008 • China Home Style Award, 2008
Page 1 and 2: ANNUAL REPORT 2008
Page 3 and 4: LETTER OF THE PRESIDENT OF THE MANA
Page 5 and 6: 5 A review of the operations of man
Page 8 and 9: 8 2008 KEY ACHIEVEMENTS OF THE GORE
Page 10 and 11: FINANCIAL HIGHLIGHTS OF THE GORENJE
Page 14 and 15: 14 2008 REPORT OF THE SUPERVISORY B
Page 16 and 17: 16 2008 The Annual Report of Gorenj
Page 19 and 20: CORPORATE GOVERNANCE
Page 21 and 22: 21 • On 16 January 2008, Gorenje,
Page 23 and 24: 23 Gorenje Budapest Kft., Hungary 1
Page 25 and 26: 25 members of the Management Board,
Page 27 and 28: 27 d. On the Company’s rules on t
Page 29 and 30: 29 of the Management and Supervisor
Page 31: 31 1.3 STATEMENT OF MANAGEMENT RESP
Page 34 and 35: 34 2008 Owing to the intensively ch
Page 37 and 38: BUSINESS REPORT
Page 39 and 40: 39 SLOVENIA • Considerable slowdo
Page 41 and 42: 41 3.2.1 HOME APPLIANCES DIVISION 3
Page 43 and 44: 43 AUSTRIA SCANDINAVIA • Rapid gr
Page 45 and 46: 45 BUSINESS OPERATION OF ATAG EUROP
Page 47 and 48: 47 ENERGY • Sales revenue doubled
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 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 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
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
Page 163 and 164:
163 Note 20 - Deferred tax assets a
Page 165 and 166:
165 Trade receivables - Group compa
Page 167 and 168:
167 Own shares in the amount of TEU
Page 169 and 170:
169 Maturity of non-current financi
Page 171 and 172:
171 Payables to other suppliers in
Page 173 and 174:
173 31 December 2007 in TEUR Carryi
Page 175 and 176:
175 Interest rate risk The Company
Page 177 and 178:
177 Information on groups of person
Page 179 and 180:
179 • the cost management of raw
Page 181 and 182:
181
Page 183 and 184:
183 ATAG Europe BV Managing Directo
Page 185 and 186:
185 KEMIS, kemični izdelki, predel
Page 187 and 188:
187 Istrabenz Gorenje projekt, svet
Page 189 and 190:
189 Gorenje Bulgaria EOOD Managing
Page 191:
191 REPRESENTATIVE OFFICES Gorenje,
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ANNUAL REPORT 2008 - Gorenje Group

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