ANNUAL REPORT 2008 - Gorenje Group

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4.1.2 ACCOUNTING REPORT OF GORENJE, D.D.
4.1.2.1 FINANCIAL STATEMENTS OF GORENJE, D.D.
Income statement of Gorenje, d.d.
in TEUR Notes 2008 2007
Revenue 7 764,106 831,273
Changes in inventories 2,043 4,988
Other operating income 8 11,196 11,470
Gross profit 777,345 847,731
Cost of goods, materials and services 9 -613,986 -681,699
Employee benefits expense 10 -110,305 -107,623
Amortisation and depreciation expense 11 -35,605 -33,991
Other operating expenses 12 -3,355 -4,154
Results from operating activities 14,094 20,264
Finance income 24,973 11,629
Finance expenses -27,183 -16,554
Net finance expense 13 -2,210 -4,925
Profit before tax 11,884 15,339
Income tax expense 14 88 -2,127
Profit for the period 11,972 13,212
Earnings per share – basic / diluted (in EUR) 0.89 1.18
Balance Sheet of Gorenje, d.d.
in TEUR Pojasnila 2008 2007
ASSETS 873,840 676,375
Non-current assets 489,141 340,858
Intangible assets 15 17,440 18,243
Property, plant and equipment 16 195,692 189,392
Investment property 17 4,462 2,698
Investments in subsidiaries 18 258,830 113,862
Other non-current investments 19 7,444 12,207
Deferred tax assets 20 5,273 4,456
Current assets 384,699 335,517
Inventories 21 105,948 93,869
Current investments 22 86,817 28,123
Trade receivables 23 172,327 200,671
Other current assets 24 18,825 12,823
Current tax assets 24 708 0
Cash and cash equivalents 25 74 31
EQUITY AND LIABILITIES 873,840 676,375
Equity 26 312,566 274,785
Share capital 58,546 58,546
Share premium 140,624 125,851
Legal reserves and statutory reserves 21,697 45,034
Retained earnings 94,059 64,660
Fair value reserve 810 8,387
Own shares -3,170 -27,693
Non-current liabilities 221,990 138,724
Provisions 28 24,187 26,212
Deferred tax liabilities 20 2,087 1,886
Non-current financial liabilities 29 195,716 110,626
Current liabilities 339,284 262,866
Current financial liabilities 30 162,727 63,221
Trade and other payables 31 160,692 177,265
Other current liabilities 32 15,865 22,117
Current tax liabilities 0 263