2.8 MEUR - Gorenje - Gorenje Group

was due to long-term borrowings in the form of notes
granted from German Deutsche Bank in the amount of
EUR 100 mio, and the utilisation of borrowings in the
amount of EUR 41.7 granted to the Company in 2010 by
IFC, together with a syndicate of banks.
The liquid assets available at the end of 2011 amounted
to EUR 206.3 mio. Slightly more than half of this
amount is represented by unutilised borrowings, and
the remainder by cash and cash equivalents. Available
liquid assets decreased in the past year, primarily on
account of the conversion of short-term borrowings
into long-term borrowings. In our opinion, we have
thus minimised the short-term liquidity risk of the
Gorenje Group.
The Management Board of the company Gorenje, d.d.
Table 48: Change in net financial debt (in MEUR)
in MEUR 2011 2010
Current financial liabilities 181.6 223.0
Non-current financial liabilities 302.5 260.9
Total financial liabilities 484.1 483.9
Cash and cash equivalents 101.6 82.7
Net financial debt 382.5 401.2
Table 49: Available liquid assets of the Gorenje Group
in MEUR 2011 2010
Unutilised loans 104.7 149.1
Cash and cash equivalents 101.6 82.7
Available liquid assets 206.3 231.8
ANNUAL REPORT 2011
105