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GORENJE, d.d., Velenje

Decrease in drop demand in the West, in the East the recession is stronger

Gorenje fights crisis with efficient measures

At the 25th meeting, held on 23 April 2009, the Supervisory Board of Gorenje, d.d., adopted audited Annual Report of Gorenje, d.d., and the Consolidated Annual Report of the Gorenje Group for the Year 2008, and confirmed the proposal for the application of the balance-sheet profit for the year 2008. The Supervisory Board adopted the Report on the revision of Annual Report, which will be submitted to the Annual General Meeting.

The Management Board has also informed the members of the Supervisory Board about the current business conditions. The demand for home appliances is showing in the second quarter the sign of recovery, specially in Germany and Austria, meanwhile the effect of crisis are still strong evident in Eastern and South-Eastern European countries with the soft currencies.

The Management Board has presented the results of activities, to managing the business performance in times of decreased volume of orders of household appliances, and among them they are seeking for possibilities to increase the sales and to decrease the material, services and labour costs. The Supervisory Board has estimated the measures as adequate, and efficient.

The objective for 2009 is remaining the assuring the positive cash flow, keeping the number of employees and strengthening the market shares. Due to the fact, that the consumer climate is still not melted, the level of orders in the second quarters are staying at the same level as in the first three months. That's why will the Management Board prepare the revised plan 2009 till the announcement of the first quarter result.

Disclaimer: All announcements in English language are only for information purposes!

The information of this announcement will be available on the official web site of the company Gorenje, d.d., Velenje, Slovenia, gorenje.com, at least 5 years from the date of the announcement.


Gorenje, d.d.,
The Management Board


Date: 23. 4. 2009