ANNUAL REPORT 2008 - Gorenje Group

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140 2008 Statement of changes in equity of Gorenje, d.d. Share in TEUR capital Opening balance at 1 Jan 2008 58,546 Fair value reserve (investments) Fair value reserve (land) Fair value reserve (cash flow hedge) Deferred tax liabilities Total revenue and expenses recognised directly in equity Net profit or loss for the period Total revenue and expenses Creation of reserve for own shares Creation of statutory reserves Dividend payout Remuneration of the Supervisory Board under the resolution of the Shareholders' Meeting Disposal of own shares Reversal of reserve for own shares Closing balance at 31 Dec 2008 58,546 Izkaz gibanja kapitala družbe Gorenje, d.d. Share in TEUR capital Opening balance at 1 Jan 2007 50,910 Fair value reserve (investments) Fair value reserve (cash flow hedge) Deferred tax liabilities Total revenue and expenses recognised directly in equity Net profit or loss for the period Total revenue and expenses Capital increase 7,636 Creation of statutory reserves Dividend payout Remuneration of the Supervisory Board under the resolution of the Shareholders' Meeting Closing balance at 31 Dec 2007 58,546
141 Share premium Legal and statutory reserves Retained earnings Own shares Fair value reserve Total 125,851 45,034 64,660 -27,693 8,387 274,785 -6,171 -6,171 7,454 7,454 -8,660 -8,660 -200 -200 -7,577 -7,577 11,972 11,972 11,972 -7,577 4,395 112 -112 -112 -112 1,186 -1,186 0 -5,781 -5,781 -129 -129 14,773 24,635 39,408 -24,635 24,635 0 140,624 21,697 94,059 -3,170 810 312,566 Share premium Legal and statutory reserves Retained earnings Own shares Fair value reserve Total 78,587 43,713 57,724 -27,693 5,989 209,230 3,222 3,222 -219 -824 -1,043 -219 2,398 2,179 13,212 13,212 12,993 2,398 15,391 47,264 54,900 1,321 -1,321 0 -4,628 -4,628 -108 -108 125,851 45,034 64,660 -27,693 8,387 274,785 4.1.2.2 NOTES TO THE FINANCIAL STATEMENTS 1. Reporting entity Gorenje, d.d. (the “Company”) is the controlling company in the Gorenje Group with its registered office in Partizanska 12, 3503 Velenje in Slovenia. Company’s financial statements have been prepared for the financial year ended 31 December 2008. 2. Basis for preparation (a) Statement of compliance The financial statements have been prepared in accordance with International Financial Reporting Standards (IFRSs) as adopted in EU, and provisions of the Companies Act. The financial statements were approved by the Management Board of Gorenje, d.d. on 3 April 2009.
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ANNUAL REPORT 2008
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LETTER OF THE PRESIDENT OF THE MANA
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5 A review of the operations of man
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8 2008 KEY ACHIEVEMENTS OF THE GORE
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FINANCIAL HIGHLIGHTS OF THE GORENJE
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12 2008 EVENTS IN 2008 BUSINESS ACT
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14 2008 REPORT OF THE SUPERVISORY B
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16 2008 The Annual Report of Gorenj
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CORPORATE GOVERNANCE
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21 • On 16 January 2008, Gorenje,
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23 Gorenje Budapest Kft., Hungary 1
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25 members of the Management Board,
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27 d. On the Company’s rules on t
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29 of the Management and Supervisor
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31 1.3 STATEMENT OF MANAGEMENT RESP
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34 2008 Owing to the intensively ch
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BUSINESS REPORT
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39 SLOVENIA • Considerable slowdo
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41 3.2.1 HOME APPLIANCES DIVISION 3
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43 AUSTRIA SCANDINAVIA • Rapid gr
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45 BUSINESS OPERATION OF ATAG EUROP
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47 ENERGY • Sales revenue doubled
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49 3.4 PURCHASING Raw material mark
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51 included a connection to the nat
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53 The appliances have been classif
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55 3.7 PRODUCTION The majority of p
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57 3.9 FINANCIAL MANAGEMENT The uni
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59 Sales risks are associated with
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61 3.10.3 OPERATING RISK MANAGEMENT
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63 3.11 CREATING VALUE FOR SHAREHOL
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65 3.12 BUSINESS PLAN AND ANTICIPAT
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67 3.13 REPORT ON SOCIAL RESPONSIBI
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69 3.13.2 RESPONSIBILITY TO USERS O
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71 The Kemis Group has co-operated
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73 Costs of goods, materials and se
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ACCOUNTING REPORT
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79 Consolidated balance sheet of th
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82 2008 Consolidated statement of c
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84 2008 4.1.1.2 NOTES TO THE CONSOL
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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 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
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189 Gorenje Bulgaria EOOD Managing
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191 REPRESENTATIVE OFFICES Gorenje,
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ANNUAL REPORT 2008 - Gorenje Group

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