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Indesit Company 2Q Earnings Up
Aug 9, 2013
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Indesit Company reported second quarter 2013 revenues of [euro]646.5 million, compared to [euro]685.0 in the second quarter of 2012.

Adjusted earnings before interest and taxes (EBIT) was [euro]13 million, compared to [euro]11 million in 2Q 2012.

"The 2nd quarter results reflect the measures taken by the company to defend the group's profitability," said Indesit Company CEO Marco Milani. "The operating margin highlights our efforts to maintain the group's profitability through measures to contain cost."

The second quarter saw the company start distribution of small home appliances in select markets Italy, Turkey, and the UK.

Indesit expects no improvement in unit shipments of white goods appliances in the second half of 2013. The group expects to see sales down 3-4% in full-year 2013 compared to 2012. It expects an operating margin of around 3-3.3% of sales.

"For the rest of 2013 we expect to see demand remain weak and we reiterate the company's ongoing commitment to safeguarding the group's profitability by persevering with measures to contain costs and boost revenues by launching new products and raising prices," said Milani.

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