Indesit Revenues Reflect Increased 3Q Sales Volumes
Nov 3, 2010
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Increased sales volumes helped Italian appliance OEM Indesit Company report increased revenues for the third quarter and for the first nine months of 2010. Indesit Company reported third quarter revenues of €795.3 million (approx. US$1106 million), up 11.4% from €713.8 million in 3Q 2009.
Indesit said the 11.4% increase in revenues from sales in 3Q 2010 came mostly from a healthy increase in volumes – which more than offset a slight contraction in terms of price/mix - and to the positive effect of exchange rates trends. The increase in the first nine months of 2010 is largely due to increased sales volumes and somewhat less to the slight improvement in the price/mix and the positive effect of exchange rate trends.
In the first nine months of 2010, revenues amounted to €2,068.3 million (approx. $2875 million), up 7.9% from the €1,917.4 million reported for the first nine months of 2009.
The 3Q operating margin (EBIT) was €66.8 million, compared to €50.4 in 3Q 2009, for an increase of 32.5%. In the first nine months of 2010, the operating margin (EBIT) was €130.8 million; it was €65.7 in the first nine months of 2009.
If market demand (industry shipments) and exchange rates remain at the averages for the year so far, Indesit said full-year 2010 sales could be up 9% - an improvement over the 6% that the company previously forecast.
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