Indesit Reports Revenue, Profits Up in 2010 Feb 22, 2011

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Indesit Company, the Fabriano, Italy-based appliance maker, reported fourth quarter 2010 revenue of €810.9 million, up 16.6% from €695.6 million in fourth quarter 2009. Full-year 2010 revenue was €2,879.2 million, up 10.2% from €2,613.0 million in 2009.

Net profits in 4Q 2010 were €21.9 million, compared to €27.6 million in 4Q 2009. Net profits for full year 2010 were €89.7 million, up from €34.5 million in 2009.

The 4Q 2010 operating margin (EBIT) was €53 million, up slightly from €52.8 million in 4Q 2009. The operating margin (EBIT) for full-year 2010 was €183.8 million, up 55% from €118.6 million.

Excluding non-recurring items 4Q 2010 operating margin (EBIT) was €65 million, up 9.2% from €59.5 million in 4Q 2009.

Excluding non-recurring items full-year 2010 operating margin (EBIT) was €227.8 million, up 34.8% from €169 million in full year 2009.

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