2009 1st Half Report - Indesit

Half-year report at 30 June 2009
1. Group structure and activities
Indesit Company is a Group led by Indesit Company S.p.A., an Italian company based in
Fabriano (near Ancona) that is listed on the Milan Stock Exchange.
The Group is active in the production and sale of white goods, namely household appliances
for the cooking sector (cookers, ovens and hobs), the refrigeration sector (refrigerators and
freezers), and the washing sector (washing machines, dryers, combined washer-dryers and
dishwashers).
The Group operates mainly in Europe, Turkey and Russia.
The Group's operating segments, as defined in IFRS 8 – Operating Segments, comprise the
geographical areas which, in organisational terms, generate revenue and costs that are
periodically reviewed by the most senior decision makers in order to evaluate performance
and decide on the allocation of resources, and for which separate financial information is
available.
The household appliances sector is highly seasonal, which affects all the main economic and
financial parameters.
The reporting by business segment required by IFRS 8 is provided in note 7.
2. Approval of the consolidated half-year report at 30 June 2009
The consolidated half-year report at 30 June 2009 was approved by the Board of Directors
on 30 July 2009 and the condensed interim consolidated financial statements included
therein have been reviewed by the independent auditors.
There have not been any significant events subsequent to the end of the first half of 2009.
3. Declaration of compliance with IFRS international accounting standards and
basis of presentation
These condensed interim consolidated financial statements have been prepared in
compliance with IAS 34 and the requirements of art. 154-ter of Legislative Decree no. 58
dated 24 February 1998 (Consolidated Finance Law) and subsequent amendments. They do
not include all the information required for annual financial statements and should be read
together with the consolidated financial statements at 31 December 2008. In particular, the
income statement, balance sheet and statement of cash flows are presented in extended
form using the formats adopted for the consolidated financial statements at 31 December
2008, except as discussed below regarding adoption of the statement of comprehensive
income and the consequent modifications made to the statement of changes in equity. On
the other hand, the following notes are presented in summary form and, accordingly, do not
include all the information required for annual financial statements. In particular, as
envisaged by IAS 34 in order to avoid repeating the information already published, the
explanatory notes relate solely to those elements of the income statement, balance sheet
and statement of cash flows whose content or change, in terms of nature or amount or
because unusual, must be known in order to understand the economic and financial position
of the Group.
The condensed interim consolidated financial statements at 30 June 2009 comprise the
balance sheet, the income statement, the statement of comprehensive income, the
statement of cash flows, the statement of changes in equity and these notes. The
comparative figures presented together with the balance sheet and the statement of cash
flows include those at 30 June 2008 for the balance sheet and at 31 December 2008 for the
statement of cash flows, as well as those required by IAS 34 (31 December 2008 for the
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