ANNUAL REPORT 2008 - Gorenje Group
ANNUAL REPORT 2008 - Gorenje Group
ANNUAL REPORT 2008 - Gorenje Group
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174<br />
<strong>2008</strong><br />
31 December 2007<br />
in TEUR EUR HRK DKK PLN USD HUF Other<br />
Trade receivables 135,405 23,311 14,281 10,214 7,684 4,423 5,353<br />
Financial liabilities<br />
(borrowings)<br />
-171,520 -1,255<br />
Operating liabilities -178,163 0 -53 0 1,417 -46 -420<br />
Balance sheet exposure -214,278 23,311 14,228 10,214 7,846 4,377 4,933<br />
Forward exchange contracts -6,145 0 -15,926 8,962 -5,943 -3,931<br />
Net exposure -214,278 17,166 14,228 -5,712 16,808 -1,566 1,002<br />
The following significant exchange rates were applied during the year:<br />
Average rate<br />
Reporting date spot rate<br />
<strong>2008</strong> 2007 <strong>2008</strong> 2007<br />
HRK 7.224 7.338 7.356 7.331<br />
DKK 7.455 7.451 7.451 7.458<br />
PLN 3.515 3.783 4.154 3.594<br />
USD 1.470 1.371 1.392 1.472<br />
HUF 251.737 251.256 266.700 253.730<br />
Sensitivity analysis<br />
A 5 percent increase of the euro against the stated currencies as at 31 December would have increased<br />
(decreased) net profit or loss by the amounts shown below. This analysis assumes that all<br />
other variables, in particular interest rates, remain unchanged. The analysis has been performed on<br />
the same basis as for 2007.<br />
31 December <strong>2008</strong><br />
in TEUR<br />
Net profit or loss<br />
HRK 83<br />
DKK -659<br />
PLN 574<br />
USD -645<br />
HUF -108<br />
Other currencies -45<br />
31 December 2007<br />
in TEUR<br />
Net profit or loss<br />
HRK -858<br />
DKK -711<br />
PLN 286<br />
USD -840<br />
HUF 78<br />
Other currencies -50<br />
A 5 percent decrease of the euro against the stated currencies as at 31 December would have had<br />
the equal yet opposite effect, provided that all other variables remain unchanged.