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Indesit: third quarter profit -55%

The results of the household appliance manufacturer continue to worsen on an annual basis which, however, is breathing again after two quarters in the red, recording a net profit of 9 million – Revenues down by 10,1% on the year, to 719 million – The stock advances to Piazza Affari.

Indesit: third quarter profit -55%

The third quarter of Indesit is on file, which closes with profits more than halved on an annual basis, but with clear growth compared to the negativity of the first six months of the year. In fact, net profit stood at 9 million euro, against 20,4 in the same period of 2012.

The company, which was affected by the drop in demand and the strengthening of the euro, recorded revenues of 719 million, down 10,1% compared to the 800 million of the third quarter of last year, and expects low revenues for 2013 above 2,7 billion euros. Ebit before non-recurring charges, on the other hand, decreased to 30 million euro from 44 million, with an Ebit margin of 4,1%.

The return to profit in the third quarter and the confirmation of the turnover forecasts, slightly down on 2012, push up the Indesit stock which in the late morning gained 1,82% in Piazza Affari.

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