ANNUAL REPORT 2008 - Gorenje Group

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AUSTRIA
SCANDINAVIA
• Rapid growth of sales and market shares in all distribution channels, surpassing
the targeted figures. Market share increased by 5%. Strengthening of the Gorenje
brand through intensive launches of new products.
• Despite the lower, below-target growth, the Company managed to retain its
joint market shares. Slightly lower results in Denmark, where the market share
decreased by 3%.
GREAT BRITAIN
• Due to the weakening of the pound against the euro, the sales targets, particularly
in terms of value, were not achieved. The relatively low market shares remained
on the same level.
FRANCE
• Sales targets were surpassed and market shares increased by 8%, mostly in
the segments of higher-priced washers, while sales of lower-priced washers
decreased.
SPAIN, PORTUGAL AND ITALY
• Sales targets were not achieved due to the extremely unfavourable market situation.
GREECE
TURKEY
• The new generation of cooking appliances was well accepted in the market, but
did not attain full sales potential. The targeted results were not achieved. 5%
increase of still relatively low market shares.
• Rapid growth of sales, entry into this market two years ago has created conditions
for accelerated growth of sales under the Gorenje brand name.
EASTERN EUROPEAN MARKET
• Sales increased slightly, by 4.3% in volume and 6.9% in value terms (8 countries
of Eastern Europe, excluding Russia, the Baltic’s and the Ukraine),
• Sales growth continued in some eastern markets; in South-eastern Europe,
declining sales were recorded primarily by the Croatian market.
• The sales targets of most countries were exceeded, except for Poland, whose
results were below the plan, but market shares were retained.
• Some principal markets saw a weakening of local currencies, which further
aggravated the position of exporters to these markets.
SLOVENIA
CROATIA
• The Company retained its position as market leader, as well as high market
shares in all product groups through intensified sales campaigns and launches
of new product models.
• Continuation of negative sales trend, reflected in a decrease of market share. High
market insolvency, fluctuating values of local currency, and lower sales results of
some business partners have aggravated Gorenje’s position in this market.
BOSNIA & HERZEGOVINA
• The sales targets were not achieved due to the insolvency of the market, rising
unemployment, distrust of consumers and resulting reductions of orders.