Indesit 3Q Revenues Up Oct 26, 2012

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Indesit Company, the appliance maker based in Fabriano, Italy, report that third quarter 2012 revenue was up 4.6%. The results are the result of double-digit growth in its primary European markets, successful new product launches, and an increase of more than 15% in service business revenue.

Indesit expects 2012 sales to be up % over 2011 and expects an operating margin for the year of 120 million euros.

Revenues in 3Q 2012 were 797.6 million euros, up 4.6% from 762.7 million euros in 3Q 2011. This included a 4% growth in revenues from finished products, which came from a 2.5% increase in unit sales and the 3.8% positive impact of currency rates.

Western European revenues in 3Q 2012 were 432.5 million euros, up 1.4% from the 3Q 2011. Operating profit was 30.5 million euros.

Eastern European revenues in 3Q 2012 were 326.9 million euros, up 9.8% from 3Q 2011. Operating profit was 32.2 million euros.

International revenues in 3Q 2012 were 38.2 million euros, down 1.0% from 3Q 2011. Operating profit was 4.0 million euros.

Indesit sells major home appliances under three main brands:
Indesit, Hotpoint-Ariston, and Scholtes.

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