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The group's performance in 2014 was affected by challenging and uncertain conditions in Ukraine and Russia, with economic slowdown and strong rouble depreciation having a negative impact especially in the last quarter, Gorenje said in a press release.

The group nevertheless wrapped up the year with notably better results than in 2013, when Gorenje posted a EUR 25m loss.

Gorenje supervisors also approved today the 2015 business plan, in which EBIT for 2015 is planned at EUR 43.1m, which is 8% more than the 2014 estimate.

Earnings before interest, taxes, depreciation, and amortisation (EBITDA) are planned at EUR 92.9m, which is 11.4% more than the figure estimated for 2014. The group plans to end 2015 with a EUR 6.1m net profit.

The group is expecting a decrease in revenue in Russia this year for the first time after a decade of growth. This is the main reason why the planned revenues for 2015 (EUR 1.22bn) are lower than the estimate for last year.