Annual Report 2012 - Indesit

Report on operations at 31 December 2012
Investments
Net investments during the year amounted to 137.4 million euro, or 4.8% of revenue
(128.5 million euro, 4.5% of revenue), of which 101.4 million euro (98.4 million euro) for
property, plant and equipment and 36.1 million euro (30.2 million euro) for intangible
assets.
Net investments are stated after disposals totaling 15.4 million euro (12 million euro), of
which 15.1 million euro reflects non-current assets that have been reclassified as other assets
available for sale.
Gross investment 2012
by destination (mEur & %)
8.0
5%
74.0
49%
12.7
8%
New product
Industrial activities
Information technology
Health and safety
environment and general
services
58.1
38%
Gross investment therefore amounted to 152.8 million euro (140.5 million euro).
The 58.1 million euro invested in new products is analyzed below 10 :
• 35% in the washing sector (20 million euro). The principal projects comprise the
development of a new look for washing machines and the expansion of the washing
machine range at the Lipetzk factory (Russia);
• 15% in the cooking sector (9 million euro);
• 33% in the cooling sector (19 million euro). The principal projects comprise completion
of the new 70 cm platform at the Manisa factory (Turkey), completion of the new built-in
fridge platform at the Carinaro plant (Italy), and addition of the new no-frost range at the
Lipetzk factory (Russia);
• 11% in the dishwasher sector (6 million euro). The principal project relates to the
development of a new platform for 45 and 60 cm dishwashers at the Radomsko factory
(Poland);
• 6% (3 million euro) in the small household appliances sector.
The 74.0 million euro allocated to industrial activities relates to actions taken to expand,
rationalize, maintain and increase the efficiency of the Group’s plant. The principal
investments related to:
• an increase in the productive capacity of the Russian factories (washing and cooling
sectors), 24 million euro;
• the completion of a new factory for the production of cooker hoods in Poland, 14 million
euro (production expected to start during the first quarter of 2013);
• rationalization of the Italian factories pursuant to the business plan discussed with and
approved by the various social partners, 5 million euro;
• improvements and adaption to the “lean production” concept at all Group factories, 3
million euro.
10. The above amounts invested have been rounded to millions of euro.
15