2.8 MEUR - Gorenje - Gorenje Group
2.8 MEUR - Gorenje - Gorenje Group
2.8 MEUR - Gorenje - Gorenje Group
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
Note 35 – Contingent liabilities<br />
ANNUAL REPORT 2011<br />
Contingent liabilities from loan guarantees given to financial institutions for financial burdens of its subsidiaries<br />
in the amount of TEUR 189,162 (2010: TEUR 184,208), to third parties in the amount of TEUR 4,454 (2010: TEUR<br />
1,100), and to the subsidiary <strong>Gorenje</strong> Beteiligungs in the amount of TEUR 13,000 (2010: TEUR 14,000) are recorded<br />
in a separate account. In addition, contingent liabilities from performance bonds and payment guarantees<br />
in the amount of TEUR 7,772 (2010: TEUR 7,053) are also recorded in a separate account.<br />
In accordance with the ordinary business practice, the ATAG company is not liable to publish its annual results<br />
of operation in the country, where its corporate seat is, if the shareholder, in a special statement, assumes liability<br />
to pay any outstanding obligations of the Company. The respective statement shall remain in effect until<br />
rescinded by the shareholder.<br />
Note 36 – Financial instruments<br />
Credit risk<br />
The carrying amount of financial assets represents the maximum credit risk exposure. The maximum credit risk<br />
exposure at the reporting date:<br />
in TEUR 2011 2010<br />
Available-for-sale financial assets 14,031 9,035<br />
Loans 79,935 64,617<br />
Trade and other receivables 198,191 204,303<br />
Cash and cash equivalents 58,090 49,678<br />
Other receivables from financing activities 2,501 4,985<br />
Total 352,748 332,618<br />
The maximum credit risk exposure of trade receivables at the reporting date by geographic region:<br />
in TEUR 2011 2010<br />
West European countries 69,305 63,993<br />
East European countries 106,240 94,615<br />
Other countries 12,358 25,359<br />
Total 187,903 183,967<br />
The maximum credit risk exposure of trade receivables at the reporting date by type of customer:<br />
in TEUR 2011 2010<br />
Wholesale customers 187,607 183,705<br />
The Management Board of Other the company customers <strong>Gorenje</strong>, d.d.<br />
296 262<br />
Total 187,903 183,967<br />
Gross amount Allowance<br />
Gross<br />
amount Allowance<br />
in TEUR 2011 2011 2010 2010<br />
Not past due 145,424 0 141,535 0<br />
Past due 1 to 45 days 10,269 0 10,847 0<br />
Past due 46 to 90 days 10,279 0 10,924 0<br />
Past due 91 to 180 days 9,316 0 10,036 0<br />
Past due over 180 days 21,109 -8,494 16,644 -6,019<br />
Total 196,397 -8,494 189,986 -6,019<br />
The Management Board of the company <strong>Gorenje</strong>, d.d. 216
Change language