Indesit returns to profit. In the first nine months of 2014, the electronics and household appliances company recorded a profit of 3,8 million euros, compared with a loss of 8,2 million in the same period of the previous year. The performance comes despite the drop in revenues, which fell by 4,2% to 1,88 million (-1% at constant exchange rates).
Ebit rose to 58 million from 43 million in the nine months of 2013 while adjusted ebit increased to 64 million (from 55 million). Net financial debt amounted to 530 million, an improvement compared to 553 million in the same period of 2013. “The group's profitability objectives have been achieved, mainly thanks to selective price increase policies and cost efficiency actions of the product”, commented Marco Milani, managing director of Indesit.
The publication of the accounts is received tepidly on the Stock Exchange: the Indesit Company title travel after 15pm around parity, a 10,95 euros, just above the 10 euro threshold which has been around since last spring.
