GORENJE, d.d., Velenje
Sales and profits continue to grow
Pursuant to the Rules and Regulations of the Ljubljana Stock Exchange, d.d., the Financial Instruments Market Act, the Corporate Governance Code for Joint Stock Companies, and in accordance with the provisions of the Code of Best Practice for WSE Listed Companies, the company Gorenje, d.d., Velenje, hereby makes the following announcement:
Issuer: Gorenje gospodinjski aparati, d.d. (short name: Gorenje, d.d.), Partizanska 12, SI-3320 Velenje, Slovenia
Announcement of the Supervised Information’s is referring to Article 106 and 112 of Market in Financial Instruments Act (ZTFI – Semi annual report).
Velenje, August 22, 2016 – Gorenje Group continued its successful performance in the second quarter of the year. Thus, we wrapped up the first half of 2016 with revenue of EUR 581.3 million, operating profit (EBIT) of EUR 16.7 million, and net profit of EUR 2.1 million. Positive impacts in the period included further growth of small and major domestic appliance sales, favourable geographic distribution of sales, and higher sales and market shares for premium and innovative appliances in all product categories. Adjusting for currency translation differences, our core activity saw 8-percent organic revenue growth relative to the first half of 2015. Innovative and premium appliances under the Gorenje and Asko brands, yielding higher profits, will also be showcased at the industry's largest tradeshow IFA in Berlin in early September. Nearly 500 new hirings in Slovenia this year.
At today's session, the Management Board gave an update to and answered questions from the Supervisory Board regarding the due diligence at Gorenje Group, conducted by the Panasonic Corporation. The Management Board and the Supervisory Board agree that the procedures are in compliance with the relevant regulations and legislation, and that the institute of postponement of insider information disclosure was, with the Supervisory Board's approval, used in the best interest of the company, and adopted based on the prior opinions by legal experts. Thus, both the President and CEO and the Management Board members continue to enjoy full trust and support of the Supervisory Board.
Please, find attached the Management Board comment on Gorenje Group second quarter performance and outlook for the second half of 2016.
Disclaimer: The English text for all announcements is for information purposes only!
The information in this announcement will be available on the official web site of the company Gorenje, d.d., Velenje, Slovenia, www.gorenjegoup.com, for at least 5 years from the date of this announcement.
The Management Board