GORENJE (GRV): Gorenje Group performance in the first quarter of 2015 - raport 8
UNI - EN REPORT No8/2015
Performance affected by Russia and Ukraine, revenue up in Eastern Europe, the Netherlands, and Australia
A number of activities to improve the profit margin in Europe and to minimize the effects of adverse conditions
In accordance with the provisions of the Code of Best Practice for WSE Listed Companies, the Ljubljana Stock Exchange Rules, and the applicable legislation, the company Gorenje, d.d., is publishing 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 114 of Market in Financial Instruments Act (ZTFI).
Gorenje Group operations in the first quarter of the year were met with more difficulties than in the first quarter of the year before. Particularly in Russia and Ukraine, two very important markets for the Group, macroeconomic conditions worsened which led to a decline in the Group's revenue there. Conversely, revenue elsewhere in Eastern Europe was higher than last year and above the figures planned for the first quarter of 2015. Revenue was also up in the Netherlands and Australia where the Group mostly markets is premium appliances. Thus, Group revenue in the first quarter of the year totalled at EUR 266.4 million, which is consistent with the budget. The share of innovative appliances rose to 8.2% of total sales.
Disclaimer: The English text for all announcements is for information purposes only!
The information of this announcement will be available on the official web site of the company Gorenje, d.d., Velenje, Slovenia, www.gorenjegroup.com, at least 5 years from the date of the announcement.
Gorenje, d.d., Management Board
