2009 1st Half Report - Indesit

Half-year report at 30 June 2009
Financial position
(million Euro) 30 June 2009 31 Dec 08 30 June 2008
Current financial assets 27,6 43,8 53,5
Cash and cash equivalents 136,1 193,2 152,3
Banks and other financial payables (297,3) (268,2) (513,8)
Net financial position - short term (133,6) (31,2) (307,9)
Medium/long-term financial payables (392,6) (451,9) (297,8)
Net financial position (*) (526,2) (483,1) (605,7)
Other non-current financial assets 2,1 9,3 13,3
Net financial indebtedness (524,1) (473,8) (592,5)
*) As defined in CONSOB Communication DEM /6064293 dated 28/07/2006, applying the CESR recommendations
dated 10/02/2005
The net financial indebtedness amounts to 524.1 million euro (592.5 million euro).
The Gross financial indebtedness totals 689.9 million euro (811.6 million euro), of which 57%
is classified as medium and long term and 43% as short term.
The maturity profile of medium and long-term loans is presented below:
Medium/longterm
MATURITY
2010 2011 2012 2013 2014 2015 2016
Bonds 201,2 4,7 57,1 6,8 6,5 111,4 0,8 13,8
Due to banks and Other payables 191,4 5,6 17,4 147,4 1,3 16,8 0,0 2,8
Total 392,6 10,4 74,5 154,2 7,9 128,2 0,8 16,6
At 30 June 2009, the Group has unused, committed lines of credit totalling 250.0 million
euro.
Reorganisation of activities
In February 2009, Indesit Company informed the parties concerned of its intention to close
the factory at Kinmel Park in the UK. Consultation with the trade unions was completed in
June, with the final decision agreed with the social partners being to close the factory at the
end of July.
In June 2009, Indesit Company reached an agreement with the social partners and the
institutions on the reorganisation of activities at the None factory in Italy. This agreement,
involving a reduction in production levels, was signed at the Ministry for Economic
Development in July.
Significant events during the first half of 2009 and subsequent to period end
Other than the events mentioned above, there were no additional significant events or
transactions during the first half of 2009 or subsequent to period end.
15