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Indesit Posts Strong Q1 Results
May 7, 2007
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Appliance producer Indesit Company (Fabriano, Italy) reported a first quarter 2007 sales increase of 9 percent to 759 million euros (approx. U.S. $1.031 billion), Ebitda increased by 34.7 percent to 82 million euros (approx. $111 million), Ebit increased 74.1 percent to 46 million euros (approx. $63 million) and net profits increased 92.5 percent to 23 million euros (approx. $31 million), partly due to non-recurring income.

"We’ve begun 2007 with very positive results,” said the Group’s CEO, Marco Milani. “Revenues rose significantly in all countries and profits margins, even without counting certain non-recurring capital gains, continued to improve. Our equity's excellent performance reflects the trust the market is putting in a company that keeps to its 3-year plan."

The new board of directors of Indesit confirmed that Marco Milani will continue as Group CEO for the 3-year period from 2007-2009.

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