ANNUAL REPORT 2008 - Gorenje Group

More documents

Recommendations

Info

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
173 31 December 2007 in TEUR Carrying amount Contractual cash flows 1 year or less 1 – 2 years 2 – 5 years More than 5 year Non-derivative financial liabilities Bank borrowings 160,283 180,411 57,604 42,375 70,921 9,511 Other financial liabilities 12,492 12,989 12,989 Trade and other payables 199,382 199,382 199,382 Total 372,157 392,782 269,975 42,375 70,921 9,511 Derivative financial instruments Interest rate swaps 1,973 4,194 1,948 1,641 605 0 Forward exchange contracts used for hedging -1,072 -1,072 -1,072 Outflow -1,272 -1,272 -1,272 Inflow 200 200 200 Other forwards exchange contracts 0 Outflow 0 Inflow 0 Total 901 3,122 876 1,641 605 0 The following table shows the periods in which the cash flows from derivatives, which are cash flow hedge, are expected to occur and their impact on profit and loss. 2008 in TEUR Carrying amount Expected cash flows 1 year or less 1 – 5 years Interest rate swaps Assets (Liabilities) -10,078 -10,078 985 -11,063 Forward exchange contracts Assets (Liabilities) 4,793 4,793 4,793 Total -5,285 -5,285 5,778 -11,063 More than 5 year 2007 in TEUR Carrying amount Expected cash flows 1 year or less 1 – 5 years Interest rate swaps Assets (Liabilities) 1,973 4,194 1,948 2,246 Forward exchange contracts Assets (Liabilities) -1,072 -1,072 -1,072 Total 901 3,122 876 2,246 More than 5 year Currency risk The Company’s exposure to foreign currency risk: 31 December 2008 in TEUR EUR HRK DKK PLN USD HUF Other Trade receivables 128,226 14,725 13,191 6,501 3,461 2,172 2,953 Financial liabilities (borrowings) -344,556 -2,227 Operating liabilities -159,097 -4 -3,763 -8 -47 Balance sheet exposure -375,427 14,725 13,187 6,501 -2,529 2,164 2,906 Forward exchange contracts 0 -16,391 -17,985 15,420 -1,999 Net exposure -375,427 -1,666 13,187 -11,484 12,891 2,164 907
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 12 and 13:
12 2008 EVENTS IN 2008 BUSINESS ACT
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: 171 Payables to other suppliers in
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,
show all

ANNUAL REPORT 2008 - Gorenje Group

You also want an ePaper? Increase the reach of your titles

Delete template?

Save as template?