2.8 MEUR - Gorenje - Gorenje Group

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In spite of the restrictive conditions, the training centre prepared an ambitious plan for the year 2011. Due to cost reduction we adjusted the number and contents of functional training courses. Special attention was paid to specialist training (the share of hours of specialist training amounted to 78.3 percent), the programme of human resource management and human resource work. We organised the Gorenje Manager Academy, the Academy for employees posted abroad, My team seminar, and training for mentors and instructors for trainees, students and secondary-school students during their obligatory in-company placement. In the field of scholarships and off-the job training (calls for applications for scholarships and off-the-job training), the priority was given to the completion of formal education in technical fields (mechanical engineering, electrotechnology, mechatronics, etc.). In 2010, we organised 17 trainee programmes for the newly employed junior experts and trainees who started their first employment, and 32 programmes started in the year 2011. Seventeen programmes from the year 2010 and eight programmes from the year 2011 were successfully completed by the defence and presentation of trainee projects. Due to adequate, cost-efficient organisation of labour, optimisation of required contents, duration of training and participants in training 3301 employees were trained in the year 2011. They underwent training minimally once a year, which accounts for a 73.37 percent share of all employees. A year before, the share of employees who participated in training minimally once a year amounted to 67.95 percent, and 3,076 employees were trained. In 2010, the number of participants was 4,891, and 6,259 in the year 2011. In accordance with the The Management Board of the company Gorenje, d.d. established practice of many years, the major portion of training courses were organised outside working time since the work process does not allow the organisation of seminars and courses during working time. In 2010, an employee was trained 18.63 hours on average, and in the year 2011 27.54 hours. Last year an employee included in a training scheme underwent a training of 27.54 hours, and in a year before 27.42 hours. A total of 123,890 hours were devoted to education and training of employees in 2011, and 84,338 hours were devoted in the year 2010. ANNUAL REPORT 2011 62
Social Environment Acting responsible in the area of civil social initiative, in particular in the local environment, encourages all participants to help enhance and improve the quality of life. Gorenje comprehends the notion of corporate social responsibility as a personal virtue and not solely as an institutional principle. Therefore and in view of responsibility towards a wider social environment it should be emphasised that corporate social responsibility interfuses virtually all spheres of Gorenje’s corporate relations. Moreover, most of management members and numerous employees are socially responsible and committed to live up to these values. Although the reputation of managers and managements in the public eye and media is generally rather low, the Management Board and managers of Gorenje enjoy public’s acknowledgment and recognition and are valued and treated with respect. This is on one hand attributable to Gorenje’s comprehensive and sustainable coping with the crisis, and on the other, to the socially responsible behaviour of individuals. Our managers and employees actively participate in various sports, cultural, humanitarian and interest groups, non-governmental organisations and different political parties. Acting responsible in the area of civil social initiative, in particular in the local environment, encourages all participants to help enhance and improve the quality of life. With their attitude being under the constant and critical public eye, they contribute to the reputation of Gorenje and its sustainable-oriented performance. The Management Board of the company Gorenje, d.d. Picture 9: Our Stakeholder m e d i a i n v e s t o r s e x p e r t p u b l i c s i n � u e n t i a l g r oups c o n s u m e r s g e n e r a l p u b l i c c o m p e t i t i o n l o c a l c o m m u n i t y e m p l o y e e s s t o c k h o l d e r s r e t a i l e r s d e c i s i o n m a k e r s b u s i n e s s p a r t n e r s g o v e r n m e n t p o l i t i c a l p u b l i c ANNUAL REPORT 2011 63
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Annual report 2013 Annual report 20
Page 3 and 4:
Cash Flow Management ..............
Page 5 and 6:
Letter from the President of the Ma
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Presentation of the Gorenje Group C
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Production and Products In 2011 pro
Page 11 and 12: Table 3: Awards received by Gorenje
Page 13 and 14: Movements in Share Prices 62.9 % Ta
Page 15 and 16: Investor Relations 53 meetings with
Page 17 and 18: Financial Calendar for the Year 201
Page 19 and 20: II. New Strategy 2012 - 2015 The Ma
Page 21 and 22: Picture 2: Vision, mission, values
Page 23 and 24: Volatile Raw Materials Market We ex
Page 25 and 26: Measures for Performance Improvemen
Page 27 and 28: Niche Orientation of Operation In n
Page 29 and 30: of operating liabilities. This is k
Page 31 and 32: Operative time frame of the strateg
Page 33 and 34: Net profitability The anticipated l
Page 35 and 36: III. Corporate Governance Statement
Page 37 and 38: Members of the Management Board Fra
Page 39 and 40: Supervisory Board A high degree of
Page 41 and 42: Dr. Peter Kraljič, Member of the S
Page 43 and 44: Supervisory Board Committees Audit
Page 45 and 46: of toolmaking and industrial equipm
Page 47 and 48: the development of operations and t
Page 49 and 50: Trading in Shares of Management and
Page 51 and 52: Corporate Governance Code Complianc
Page 53 and 54: General Meeting of Shareholders In
Page 55 and 56: IV. Social Responsibility In Gorenj
Page 57 and 58: of reduced demand for our products.
Page 59 and 60: The absenteeism control team plays
Page 61: Education In past years our educati
Page 65 and 66: Ecology EMAS Statement The EU Eco-M
Page 67 and 68: from the first phase of this projec
Page 69 and 70: 7. Environmental Management Efficie
Page 71 and 72: Šoštanj Site The quantity of gene
Page 73 and 74: Listed below are the media that fea
Page 75 and 76: Environmental Auditor’s Statement
Page 77 and 78: Events Impacting Interim Comparabil
Page 79 and 80: Gorenje Group Performance 35.8 MEUR
Page 81 and 82: Chart 16: Revenue per divisions (in
Page 83 and 84: low share in the Gorenje Group’s
Page 85 and 86: Chart 21: Quarterly movement of the
Page 87 and 88: Chart 23: Revenue by programmes of
Page 89 and 90: Under consideration of the period J
Page 91 and 92: Chart 27: Quarterly movement of pro
Page 93 and 94: Chart 29: Revenue by HI Division pr
Page 95 and 96: Added value per employee in the amo
Page 97 and 98: Volume of Business Activities 21.7
Page 99 and 100: esult of a very low potential of in
Page 101 and 102: Financial Position and Liquidity 18
Page 103 and 104: Investments In the area of investme
Page 105 and 106: was due to long-term borrowings in
Page 107 and 108: Risks Risk management in the Gorenj
Page 109 and 110: investment and development risks. T
Page 111 and 112: inability of the Group to settle it
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Risk management in the Home Interio
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VI. Accounting Report of the Gorenj
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Statement of Comprehensive Income o
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Consolidated Statement of Cash Flow
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in TEUR Share capital Share premium
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Note 3 - Significant accounting pol
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ANNUAL REPORT 2011 (c) Financial in
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ANNUAL REPORT 2011 The gain or loss
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ANNUAL REPORT 2011 that a loss even
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ANNUAL REPORT 2011 (iv) Provisions
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ANNUAL REPORT 2011 (u) New standard
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ANNUAL REPORT 2011 � additional c
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Note 8 - Composition of the Gorenje
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Associates: � in Kishinev (Moldov
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Note 11 - Associates ANNUAL REPORT
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ANNUAL REPORT 2011 Note 17 - Other
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The following deferred tax amounts
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Movements of intangible assets in 2
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Movements of property, plant and eq
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Movements of investment property AN
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ANNUAL REPORT 2011 Note 26 - Invent
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in TEUR Changes in fair value reser
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in TEUR Movements of provisions in
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Currency ANNUAL REPORT 2011 Current
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Maturity of trade receivables at th
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The following significant exchange
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Fair value scale The table shows me
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Note 46 - Business segments in TEUR
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Appendix 1: Information on the Gore
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Appendix 2: Managing Directors In 2
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Appendix 3: Foreign exchange rates
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Income Statement of Gorenje, d.d. A
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Statement of Cash Flows of Gorenje,
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ANNUAL REPORT 2011 Notes to the Fin
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ANNUAL REPORT 2011 Impairment losse
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ANNUAL REPORT 2011 (iv) Depreciatio
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Financial assets measured at amorti
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ANNUAL REPORT 2011 (iv) Site restor
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ANNUAL REPORT 2011 Amendment to IFR
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ANNUAL REPORT 2011 � additional c
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ANNUAL REPORT 2011 Note 8 - Revenue
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ANNUAL REPORT 2011 Note 13 - Other
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The following deferred tax amounts
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Movements in intangible assets in 2
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The Management Board of the company
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Movements in investments in subsidi
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Tax assets - Tax liabilities Throug
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Current trade receivables due from
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ANNUAL REPORT 2011 Note 27 - Cash a
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ANNUAL REPORT 2011 Note 29 - Determ
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ANNUAL REPORT 2011 Note 32 - Curren
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ANNUAL REPORT 2011 Company 2011 201
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Movements in allowances for trade r
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The following significant exchange
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Year 2011 The Management Board of t
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ANNUAL REPORT 2011 Pursuant to the
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Gross earnings in the period Januar
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Note 40 - Events after the date of
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2.8 MEUR - Gorenje - Gorenje Group

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