Merkur stake impairments to dent Slovenia's Gorenje 2013 results

"[...] Gorenje Group will recognise in 2013 impairments of a total of 8.83 million euro ($12.3 million)," Gorenje said in a bourse filing. "Group result for the year will be worse by 5.23 million euro for this reason, relative to the announced 2013 end-of-year performance estimate," it added.

The Slovenian group said earlier it expects to post a net loss of 8.8 million euro on net sales of 1.27 billion euro in 2013.

Gorenje holds 2.98% of Merkur, according to end-November data.

Of the total amount of impairments Gorenje plans to recognise, 450,000 euro have already been booked in the financial statements for the January–September period, the company added.

($=0.7257 euro)