As and when Panasonic makes its move, Gorenje’s share could see a lift-off.
The operations of Gorenje, a Slovenian household appliances manufacturer, has come back to black midst potential takeover talks by Panasonic.
Gorenje has reported that it has returned a profit during the first 6 months of this year. Its net profit during the first 6 months was $2.4 million (2.1 million euros). In 2015, for the same period it had suffered a loss of 6.9 million euros. Its sales in 2016-2017 rose by 4.2% to 581 million euros.
The performance boost in its sales department was thanks to the better management of two important components – labour & material, said the company.
With its product segments in washing machines and ovens, Gorenje has a market capitalisation of nearly 182 million euros.
Earlier last year in September, it had allowed Japanese giant Panasonic to do its due diligence. In the near future, this can result in Panasonic claiming a stake of 10.74% in the company, said Gorenje.
Gorenje’s shares were seen trading at 7.45 euros on Monday, before the results were announced.
($1 = 0.8843 euros)