GRussian VTB bank to provide loan of EUR 72 mil to Gorenje

Slovenian household appliances producer, Gorenje, signed a contract on a five-year loan totaling EUR 72 mil with the Austrian branch office of the Russian banking group, VTB bank.

Gorenje explained that the loan does not increase its indebtness but improves structure of financial sources deposit and strengthens its financial stability.

- We are continuing with indebtness decrease activities and our objective is to decrese net indebtness for EUR 25 mil – Gorenje stated in the announcement.

Last week, Gorenje agreed with five Slovenian banks a long-term wholesale loan of EUR 55 mil, for development of products and penetration to new markets.

This year, the company is planning gross business profit of EUR 93,7 mil and its objective is to decrease the ration between gross profit and financial debt to coefficient 3,6, Seebiz reported.