Key Developments: Gorenje dd (GORE.LJ)
4.10EUR
18 Jun 2013
€0.05 (+1.21%)
€4.05
€4.10
€4.10
€4.10
1,103
--
--
--
Latest Key Developments (Source: Significant Developments)
GORENJE dd Issues Commercial Papers
GORENJE dd announced that on May 7, 2013, it issued commercial papers with a total value of EUR 25 million and interest rate of 100%. The issue includes 25,000 units with denominations of EUR 1,000. The first day of listing is May 10, 2013, while the last is December 16, 2013. Full Article
GORENJE dd Issues Commercial Papers
GORENJE dd announced that on April 25, 2013, it issued 8-month commercial papers with a total value of EUR 21 million and interest rate of 4.45%. The issue includes 21,000 units with denominations of EUR 1,000, which were subscribed by 54 investors. Commercial papers will be issued in the central register of the KDD – Central Securities Clearing Corporation, and they will be freely transferable. Full Article
GORENJE dd Plans Issue of Commercial Papers
GORENJE dd announced that it plans to issue commercial papers on April 25, 2013, with maturity of 8 months and yield to maturity of 445 basis points. Further details were not disclosed. Full Article
GORENJE dd Sells Gorenje Kuhinje and Gorenje Notranja Oprema
GORENJE dd announced that it has signed an agreement CoBe Capital, investment firm focused on operation of non-core and underperforming business units, on the sale of Gorenje Kuhinje and Gorenje Notranja oprema. Manufacturing operations in Maribor, Velenje, and Nazarje will be carried on under the new owner, which means that jobs will continue to be provided in the future. In addition, kitchen furniture produced at the companies under the new owner will remain a part of the Company's of home products. The divestiture of both companies will have influence of the Company's profitability and free cash flow. Full Article
GORENJE dd Opens New Plant in Valjevo in Serbia
GORENJE dd announced that it has launched production at the new cold appliance plant in Valjevo, Serbia. This is the Company's second refrigerator-freezer facility in Valjevo. The first one was opened in 2006. The combined output of both plants for this year is planned at nearly 800,000. Full Article
GORENJE dd Appoints New Chief Financial Officer
GORENJE dd announced that it has appointed Mr. Peter Groznik for position of Chief Financial Officer of the Company effective from July 19, 2013. Full Article
Gorenje dd Issues Financial Guidance for FY 2012-2013 Above I/B/E/S Estimates
Gorenje dd announced that it expects to report revenues of EUR 1.3 billion for the 2013 fiscal year, which is 4.5% more than reported in the 2012 fiscal year. The Company also expects to report EBITDA of EUR 96.7 million for the 2013 fiscal year and EUR 86.3 million for the 2012 fiscal year. Profit is planned at EUR 4.2 million for the 2013 fiscal year and EUR 0.1 million for the 2012 fiscal year. The Company is also to resume the activities of financial restructuring and reduction of debt. According to I/B/E/S Estimates, the Company is to report the revenues of EUR 1.299 billion, EBITDA of EUR 80.18 million for the 2012 and revenues of EUR 1.328 billion, EBITDA of EUR 92.61 million. Full Article
Gorenje dd Informs About Strike of Its Employees
Gorenje dd announced that on December 12, 2012, there was a strike and as a result the production was stopped for four hours. The Supervisory Board of the Company approved the activities of the Management Board and trade union to resolve all open issues. The social agreements to maintain the number of jobs in Slovenia, concluded between the Company’s Management Board and trade union were signed in April, 2012. Full Article
Gorenje dd Signs Loan Agreement with Volksbank dd
Gorenje dd announced that on December 11, 2012, it signed a loan agreement with Volksbank dd, concerning a long-term loan of a value of EUR 50 million. The funds from the credit will be used for financing of restructuring and manufacturing operations. Full Article
GORENJE dd Announces Shifting of Part of Business from Subsidiary in Sweden to Slovenia
GORENJE dd announced that Board of Directors of its subsidiary, Asko, adopted a resolution, concerning shifting the Asko's manufacturing operations from the plant in Vara, Sweden, to Gorenje dd's facilities in Velenje, Slovenia. The shift will be completed in the period of one year. Full Article
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
