ANNUAL REPORT 2008 - Gorenje Group

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• the cost management of raw materials (inventory optimisation, favourable term
purchase of raw materials, further development of supply sources from Asia in
other dollar-based supply markets and South-Eastern European countries, further
cost-cutting measures to be adopted in association with the cost of materials);
• production process (flexibility in the adaptation of the production to the level
of orders);
• purchase of goods (adjustment of purchases to the current requirements);
• sales (sales promotion, intensifying of customer contacts, search for new business
opportunities, simplification);
• costs of logistics (maximizing the utilization of transportation means);
• investments (approval of solely the most urgent investments whose purpose is
new product development);
• marketing area (cost-cutting in all markets, limiting the costs to costs that are directly
linked to sales promotion);
• costs of services (decrease in the management and general administration
costs, adaptation of costs to the range of sales, strengthening the control over
the cost base);
• assurance of positive cash flows (raising of new long-term loans, receivables optimisation,
assuring short-term liquidity);
• a decrease in current assets (management of inventories and receivables) and
• labour cost optimisation (implementation of a 36-hour weekly working time, a
10-percent salary decrease, organisational restructuring and restructuring of
business processes).
Note 38 – Transactions with the audit firm
In accordance with Article 57 of the Companies Act, an audit was carried out by the auditing company
KPMG Slovenija, d.o.o., in the period between 19 January and 2 February 2009 and an auditor’s
opinion was issued on 6 April 2009. In 2008, the fee for audit services amounted to TEUR 147
(in 2007: TEUR 178); TEUR 140 (2007: TEUR 140) of accrued expenses were recorded for the audit
of the Annual Report.