ANNUAL REPORT 2008 - Gorenje Group

172
2008
The maximum exposure to credit risk for trade receivables at the reporting date by geographic region
was:
in TEUR 2008 2007
EU countries 65,061 82,285
East European countries 90,417 95,049
Other regions 16,849 23,337
Total 172,327 200,671
The maximum credit risk exposure of trade receivables at the reporting date - by type of
customer:
in TEUR 2008 2007
Wholesale customers 172,050 200,352
Other customers 277 319
Total 172,327 200,671
Gross amount Allowance Gross amount Allowance
in TEUR 2008 2008 2007 2007
Not past due 145,958 172,594
Past due 1 to 45 days 13,381 18,710
Past due 46 to 90 days 7,312 4,905
Past due 91 to 180 days 1,619 2,738
Past due more than 180 days 7,997 -3,940 5,723 -3,999
Total 176,267 -3,940 204,670 -3,999
Movement in allowances for trade receivables:
in TEUR 2008 2007
Opening balance 1 Jan 3,999 4,720
Impairment loss 310 507
Payments -113 -1,136
Other -256 -92
Closing balance 31 Dec 3,940 3,999
Liquidity risk
Shown below is the maturity of financial liabilities:
31 December 2008
in TEUR
Carrying
amount
Contractual
cash flows
1 year or
less
1 – 2
years
2 – 5
years
Non-derivative financial liabilities
Bank borrowings 346,783 369,922 161,092 69,321 139,509
Other financial liabilities
Trade and other payables 160,692 160,692 160,692
Total 507,475 530,614 321,784 69,321 139,509
Derivative financial liabilities
Interest rate swaps -10,078 -10,078 985 -11,013 -50
Forward exchange contracts
used for hedging
4,793 4,793 4,793
Outflow
Inflow 4,793 4,793 4,793
Other forwards exchange
contracts
Outflow
Inflow
Total -5,285 -5,285 5,778 -11,013 -50
More than
5 year