Gorenje's Sales Revenues Up in First 9 Months
Nov 20, 2003
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The Velenje-based home appliances maker Gorenje generated SIT 92.5 billion (392 million euros) of sales revenues in the first 9 months this year, up 3 percent year-on-year. They account for 71 percent of planned revenues this year.

Net earnings in the 9-month period increased by 3.5 percent to SIT 3.3 billion (14 million euros), which is 72 percent of net earnings planned for 2003, according to a Gorenje press release published on the stock market's web site.

In the first three quarters of this year, The Gorenje Group recorded consolidated net sales revenues of SIT 141.2 billion (598 million euros), which is 8.4 percent more than in the same period last year and 74 percent of the planned net sales revenues this year.

The group saw net profits rise by 9.3 percent to SIT 3.6 billion (15 million euros) in the January to September period. This means that the group has generated 72 percent of the planned profits for 2003 so far.

The Gorenje said that the business situation on all major markets where the group is present is still unfavorable because of recession. The company is nevertheless confident to meet this year's business plans in all key aspects.

The group is currently finalizing its 2004 business plan, which will include a detailed plan of business activities in an attempt to consolidate and increase its shares on EU markets after enlargement. The 2004 business program is expected to be on the supervisory board's table next month.

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