2009 1st Half Report - Indesit

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Half-year report at 30 June 2009 Trade receivables by operating segment at 30 June 2009 (million Euro) 30 June 2009 % of rolling sales (12 months) 30 June 2008 % of rolling sales (12 months) Italy Area 110,6 21,3% 122,5 21,9% Uk and Ireland Area 53,1 6,1% 76,2 7,3% Russia Area 29,2 5,4% 66,7 8,9% West Europe Area 74,5 11,6% 104,0 14,3% East Europe Area 89,7 18,6% 117,4 20,2% Overseas Area 29,4 20,7% 42,9 23,9% Not allocated trade receivables 29,7 - 119,4 - Total 416,2 12,6% 649,0 16,6% 33
Half-year report at 30 June 2009 8. NOTES TO THE CONSOLIDATED INCOME STATEMENT, BALANCE SHEET AND STATEMENT OF CASH FLOWS 8.1. Revenue Revenue is analysed as follows: (million Euro) 30 June 2009 30 June 2008 Revenue from sale of finished products 1.102,1 1.421,9 Revenue from provision of services 101,6 103,4 Total Revenue 1.203,7 1.525,3 Revenues from the provision of services relate to services provided to customers (transport) and to end consumers (after-sales maintenance) and to the sale of extended warranties beyond the legal minimum period. 8.2. Cost of sales Cost of sales consists of all production-related costs and mainly comprises the cost of raw materials and components, external processing, direct and indirect labour, the depreciation of property, plant and equipment, internal handling and logistics, inventory write-downs, provisions for product warranty and provisions for risks and charges, research and development expenses that are not capitalised. Cost of sales is analysed below by type of expenditure. (million Euro ) 30 June 2009 30 June 2008 Change in the inventories of finished products 1,6 133,9 Purchase of raw materials, components, materials and change in inventories (655,4) (974,1) Services (66,2) (75,5) Payroll costs (131,9) (171,6) Depreciation and amortization (55,6) (52,3) Other expenses (45,9) (23,6) Other income 15,9 20,6 Total (937,6) (1.142,6) The cost of sales fell by slightly less than the decrease in volume. This was due to the lower absorption of industrial overheads, partially offset by the lower cost of raw materials, an improvement in production efficiency and the positive effect of the depreciation of the Polish zloty and Russian rouble on the production costs incurred in those currencies. 8.3. Selling and distribution expenses Selling and distribution expenses comprise all the costs incurred to commercialise products, including advertising and promotion, and provide after-sales services, as well as the costs of distributing products to the Group's warehouses and to customers. Selling and distribution expenses are analysed below by type. (million Euro ) 30 June 2009 30 June 2008 Change in the inventories of finished products (0,6) (0,4) Purchase of raw materials, components, materials and change in inventories (3,6) (6,8) Services (128,6) (173,5) Payroll costs (47,5) (53,1) Depreciation and amortization (4,8) (4,1) Other expenses (17,3) (21,6) Other income 4,2 7,6 Total (198,2) (251,9) 34
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2009 1st Half Report - Indesit

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