Gorenje makes EUR 8.4 million in profit in 2016 – Revenues rise to EUR 1.26 billion

The Slovenian producer of household appliances Gorenje made EUR 8.43 million in net profit last year, reported the Velenje-based concern, whose 2015 loss amounted to EUR 8 million.

The net profit is higher by EUR 400,000 than the initial estimate of January, and Gorenje's last year's revenues rose by 2.7%, amounting to EUR 1.26 billion.

Gorenje increased its financial stability last year by paying off a part of its debt and the current ratio of net financial debt and EBITDA is 3.9:1, and the production financing costs have also been reduced.

Gorenje's last year's investments in product development amounted to EUR 32.3 million, and their investments in marketing activities reached EUR 26.4 million, Wisebroker reports.

Gorenje d.o.o. Beograd

Gorenje d.d. Velenje

Gorenje

production of household appliances

Gorenje profit

Gorenje loss

Gorenje revenues