Gorenje: profit at 3.1 million Euro in the first half of 2014

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gorenje-velenje-panoramThe positive trend continues for Gorenje Group. After the good result for the profit in the first quarter of the year (1 million Euro), in the second quarter the company achieved 2.1 million Euro, reaching 3.1 million Euro in the first half of 2014. Improvement over the first half of the year earlier is the result of successful restructuring and better sales. Relocation of the entire washing machine, dryer, and dishwasher manufacturing operations from Sweden to Slovenia, free standing fridge freezer production from Slovenia to Serbia, and the cooking appliance plant from Finland to the Czech Republic, as well as restructuring of the sales network, resulted in a decrease in labour costs by 10.5% or 13.1 million Euro relative to the comparable period of last year.
Revenue reached 600.7 million Euro, up 1.8% from the first half of 2013. The main revenue growth was seen in Germany, Russia, Bulgaria, Romania, Great Britain, North America, Czech Republic, and Slovakia. In the first half of the year, Gorenje Group further extended its offer of appliances with new products, and increased R&D investment. This year’s key new launch by the company is the new generation of high-end ovens which have already been introduced to some markets. In addition, the Group introduced in the first half of 2014 the line of kitchen appliances Pro Series and the free standing refrigerator freezers with a width of 60 cm and height of 200 cm.