The Slovenia Times

Gorenje Out Of The Red Numbers


Gorenje said that divestment has not yet been fully completed, while it also highlighted the costs stemming from the unannounced four-hour strike staged at the company on 12 December.

Gorenje expects EUR 1.28bn in sales revenues by the end of the year at group level, while it hopes to increase the figure by 4.5% or to EUR 1.34bn next year.

The company expects rising sales above all in what have been its more profitable markets, such as Russia, Ukraine, Slovenia, the Czech Republic, Poland, Slovakia and China, as well as in Germany.

EBITDA for 2012 is estimated at EUR 86.3m and is expected to increase to EUR 96.7m next year. Net profit is planned to rise to EUR 4.2m.

On the other hand, the company warns that 2013 will be tough, as the situation on the market remains difficult, while the company is also in the phase of strategic restructuring of production locations. It expects to complete the relocations by autumn next year and save around EUR 15m annually as a result starting with 2014.

Divestment and debt reduction remain key goals for the year, Gorenje announced before outlining its plans in more detail in a press conference.


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