ANNUAL REPORT 2008 - Gorenje Group

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158 2008 Changes in intangible assets in 2008 in TEUR Long-term deferred development costs Long-term concessions, patents, licenses, trademarks and similar rights Intangible assets under construction Cost at 1 January 2008 18,242 14,164 360 32,766 Additions 3,035 3,035 Disposal, writedown -25 -25 Transfers 1,665 1,672 -3,337 0 Cost at 31 December 2008 19,907 15,811 58 35,776 Accumulated amortisation at 1 January 2008 6,851 7,672 14,523 Disposal, writedown -19 -19 Amortisation 1,992 1,840 3,832 Accumulated amortisation at 31 December 2008 8,843 9,493 18,336 Carrying amount at 1 January 2008 11,391 6,492 360 18,243 Carrying amount at 31 December 2008 11,064 6,318 58 17,440 Total Changes in intangible assets in 2007 in TEUR Long-term deferred development costs Long-term concessions, patents, licenses, trademarks and similar rights Intangible assets under construction Cost at 1 January 2007 17,055 11,272 649 28,976 Additions 3,801 3,801 Disposal, writedown -11 -11 Transfers 1,187 2,903 -4,090 0 Cost at 31 December 2007 18,242 14,164 360 32,766 Accumulated amortisation at 1 January 2007 5,557 6,069 11,626 Disposal, writedown -11 -11 Amortisation 1,294 1,614 2,908 Accumulated amortisation at 31 December 2007 6,851 7,672 14,523 Carrying amount at 1 January 2007 11,498 5,203 649 17,350 Carrying amount at 31 December 2007 11,391 6,492 360 18,243 Total Increase in long-term deferred development costs is attributable to the new generation of built-in cooking appliances and a new generation of NG603 freestanding cooking appliances (TEUR 753), the new generation of NGC600 and NGC540 refrigerators and freezers (TEUR 360) and to the costs of development of a PG05 programmator for washers and dishwashers (TEUR 257). As for long-term concessions, patents, licenses, trademarks and similar rights, additions refer to licences, other rights and computer software (TEUR 1,639).
159 Note 16 – Property, plant and equipment TEUR 195,692 in TEUR 2008 2007 Land 20,118 12,954 Buildings 58,307 61,879 Manufacturing and other equipment 108,965 109,946 Property, plant and equipment under construction 8,302 4,613 Total 195,692 189,392 Movement of property, plant and equipment in 2008 in TEUR Land Buildings Manu-facturing plant and equipment PPE under construction Cost 1 Jan 2008 12,954 150,833 396,522 4,613 564,922 Additions 33,196 33,196 Revaluation 7,455 7,455 Disposals, writedowns -291 -7,125 -9,365 -16,781 Transfers 2,078 27,429 -29,507 0 Transfer to investment property -69 -69 Cost 31 Dec 2008 20,118 145,717 414,586 8,302 588,723 Accumulated depreciation 1 Jan 2008 88,954 286,576 375,530 Disposals, writedowns -5,249 -9,068 -14,317 Transfer to investment property 45 45 Depreciation 3,660 28,113 31,773 Accumulated depreciation 31 Dec 2008 87,410 305,621 0 393,031 Carrying amount 1 Jan 2008 12,954 61,879 109,946 4,613 189,392 Carrying amount 31 Dec 2008 20,118 58,307 108,965 8,302 195,692 Total Movement of property, plant and equipment in 2007 in TEUR Land Buildings Manu-facturing plant and equipment PPE under construction Cost 1 Jan 2007 13,319 144,721 382,244 5,389 545,673 Additions 30,464 30,464 Disposals, writedowns -343 -92 -9,945 -10,380 Transfers 357 6,660 24,223 -31,240 0 Transfer to investment property -379 -456 -835 Cost 31 Dec 2007 12,954 150,833 396,522 4,613 564,922 Accumulated depreciation 1 Jan 2007 85,194 266,569 351,763 Disposals, writedowns -13 -7,303 -7,316 Depreciation 3,773 27,310 31,083 Accumulated depreciation 31 Dec 2007 88,954 286,576 375,530 Carrying amount 1 Jan 2007 13,319 59,527 115,675 5,389 193,910 Carrying amount 31 Dec 2007 12,954 61,879 109,946 4,613 189,392 Total Buildings TEUR 58,307 Additions among buildings include the reconstruction of premises in Velenje (TEUR 571) and the rearrangement management offices as well as other business premises (TEUR 467). As for the cooking appliance programme, investments in the new generation of cooking appliances (integrated cooking appliances) were implemented in the amount of TEUR 371. The Indop project in Šoštanj was additionally upgraded in the amount of TEUR 300 and minor reconstructions of production premises were carried out.
Page 1 and 2:
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
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88 2008 tributable to bringing the
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90 2008 or services or for administ
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92 2008 (i) Warranties A provision
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94 2008 that are expected to be app
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96 2008 4. Determination of fair va
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98 2008 hedging of currency risk an
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100 2008 East Europe: Ukraine, Russ
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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: 157 Other finance income mostly rep
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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