Annual Report 2012 - Indesit

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Report on operations at 31 December 2012 Western Europe Change %2012/2011 - Revenue mEur 460 440 420 400 428.2 401.2 394.6 390.9 9 432.5 426.3 446.6 439.8 380 360 340 1Q 2Q 3Q 4Q 2011 2012 (million euro) 2012 2011 Change Change % Revenue 1,664.4 1,695.7 (31.3) (1.8) Operating profit 106.7 149.2 (42.5) (28.5) Operating margin % 6.4% 8.8% -2.4 p.p. Operating profit mEur 60 50 48.7 40 30 29.4 22.6 20.5 20 10 30.030.5 47.8 26.2 Revenue Revenue fell by 1.8% compared with the prior year. Revenue from finished products fell due to a reduction in the volume of sales and adverse price/mix changes. By contrast, there was a beneficial effect deriving from the appreciation of the British pound. 0 1Q 2Q 3Q 4Q 2011 2012 There was a general downward trend in sales within the Western Europe Area (with the exception of the UK and Northern Europe). Operating margin % 14% 12% 11.4% 10% 8% 7.3% 7.1% 6% 5.7% 7.0% 4% 5.3% 2% 10.7% 5.9% In particular, demand in Italy fell by 9.3%. Profitability Area profitability was lower than in the prior year due to an especially adverse price/mix effect and the reduction in sales volume. The negative effects of these drivers were partly offset by the change in the euro/sterling exchange rate and the rationalization of advertising and promotion costs. 0% 1Q 2Q 3Q 4Q 2011 2012 8
Report on operations at 31 December 2012 Eastern Europe Change % 2012/2011 - Revenue mEur 350 300 250 200 180.7 191.7 150 100 50 0 326.9 297.8 304.7 254.7 260.9 246.2 1Q 2Q 3Q 4Q 2011 2012 (million euro) 2012 2011 Change Change % Revenue 1,078.0 985.6 92.4 9.4 Operating profit 83.5 87.0 (3.6) (4.1) Operating margin % 7.7% 8.8% -1.1 p.p. Operating profit mEur 35 31.932.2 30 25.2 25 21.2 22.2 20 17.6 15 11.8 10 8.5 5 0 1Q 2Q 3Q 4Q 2011 2012 Operating margin % Revenue Revenue was 9.4% higher than in 2011. Revenue from finished products rose due to an increase in the volume of sales and the performance of the Russian ruble. By contrast, changes in the price/mix had an adverse effect. Profitability The operating margin fell by 4.1%. The higher volume of sales, the appreciation of the Russian ruble and the containment of manufacturing costs all mitigated the decline in Area profitability, correlated with the performance of price/mix. % 12 10.7% 10 8 6 4 6.5% 4.5% 8.6% 6.9% 9.8% 8.5% 8.3% 2 0 1Q 2Q 3Q 4Q 2011 2012 9
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Annual Report 2012 - Indesit

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