2.8 MEUR - Gorenje - Gorenje Group

The Management Board of the company Gorenje, d.d.
ANNUAL REPORT 2011
Note 16 – Intangible assets TEUR 15,455
in TEUR 2011 2010
Long-term deferred development costs 8,978 9,222
Long-term industrial property rights 5,149 5,087
Intangible assets under construction 1,328 1,119
Total 15,455 15,428
Movements in intangible assets in 2011
in TEUR
Development
costs
Industrial
property
rights
Intangible
assets under
construction Total
Cost at 1 January 2011 19,308 14,008 1,118 34,434
Acquisition 2,595 2,595
Disposal, write-down -46 -46
Transfer 1,604 781 -2,385 0
Cost at 31 December 2011 20,866 14,789 1,328 36,983
Accumulated amortisation at
1 Jan 2011
10,086 8,921 0 19,007
Disposal, write-down -46 -46
Amortisation expense 1,848 719 2,567
Accumulated amortisation at
31 Dec 2011
11,888 9,640 0 21,528
Carrying amount at
1 January 2011
Carrying amount at
31 December 2011
9,222 5,087 1,118 15,427
8,978 5,149 1,328 15,455
An increase in long-term development costs is largely due to the development of combined refrigerators,
width 750, for the US market in the amount of TEUR 767 and the development of packaging in the amount of
TEUR 266. Long-term industrial property rights include investments in the software in the amount of TEUR 407
and the upgrade of the information systems in the amount of TEUR 123.
Intangible assets under construction mainly relate to the property rights, the development of induction cooking
ranges, and the development of a new generation of 10 kg washing machines and dryers.
The Management Board of the company Gorenje, d.d. 198