Business News

Gorenje Planning EUR 10M Profit in 2010

Velenje, 17 December (STA) - The supervisors of household appliance maker Gorenje confirmed on Thursday the targets for next year, projecting EUR 1.24bn in sales revenues and a net profit of EUR 10.09m.

According to a press release by the Velenje-based company, sales revenues are expected to reach EUR 1.16bn this year, a 12.8% decrease on 2008.

The Gorenje group is looking at a EUR 13.18m net loss by the end of the year, which comes after a EUR 10.18m profit last year.

Gorenje chairman Franjo Bobinac wrote that Gorenje has been intensively adapting to the changes brought by the global crisis. "As the situation on the markets most important to us is slowly stabilising, we are filled with optimism."

In the area financial management, the Gorenje group will focus on protective measures against the risks of the financial crisis.

Securing positive cash flow will be one of the main objectives, with the positive cash flow target standing at EUR 24.5m. The company plans a EUR 16.8m decrease in the financing of liabilities compared to 2009.

Investment will remain focused on development.

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