Separate Financial Statements 2007 - Indesit

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Separate Financial Statements as of 31 December 2007 6.33. Deferred tax liabilities 6.34. Other non-current liabilities 6.35. Trade payables 6.36. Tax payables 6.37. Other payables 6.38. Share-based payments (stock options) 6.39. Total profit, Income taxes, Impairment losses of investments and financial assets, Depreciation and amortization, Taxes paid 6.40. Other non-monetary income and expenses, net 6.41. Change in trade receivables, inventories, trade payables 6.42. Change in other assets and liabilities 6.43. Payments for acquisition of property, plant and equipment and proceeds from their disposal 6.44. Acquisition of intangible assets 6.45. Proceeds from the sale of non-current financial assets and investment in financial assets for their acquisitions 6.46. Proceeds from share capital increases and Payment of dividends 6.47. Dividends collected 6.48. Repayments of medium/long-term financials payables 6.49 Change in current financial payables/receivables 7. Financial instruments 8. Information required by IAS 24 on the remuneration of management and on related parties 8.1 Remuneration of management 8.2 List of related parties 8.3 Schedules summarising the transactions with related parties 8.4 Further information on corporate transactions with related parties Attachment 1 Attachments 1. List of directly and indirectly-held companies 2. Separate income statement for the year ended 31 December 2007, prepared in accordance with Consob Resolution no. 15519 dated 27 July 2006 and Consob Communication no. DEM/6064293 dated 28 July 2006 3. Separate balance sheet as of 31 December 2007, prepared in accordance with Consob Resolution no. 15519 dated 27 July 2006 and Consob Communication no. DEM/6064293 dated 28 July 2006 4. Separate income statement for the year ended 31 December 2007 classified by function. 5. List of investments in subsidiaries, associates and other companies 6. Summary of availability of reserves 7. Summary of the fees charged by the auditing firm and members of its network for services provided to the Company during the year, prepared pursuant to art. 149-duodecies of Issuers' Regulation no. 11971 dated 14 May 1999 and subsequent amendments 19
Separate Financial Statements as of 31 December 2007 1. Company structure and activities Indesit Company S.p.A., parent of the Indesit Company Group, is an Italian company based in Fabriano (near Ancona) that 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). Indesit Company S.p.A. plays a dual role as an operating company that supplies goods and services to other Group companies, and as the holding company for Group companies. The household appliances sector is highly seasonal, which affects all the main economic and financial parameters. The segment information required by IAS 14 is provided in the consolidated financial statements published together with these separate financial statements for Indesit Company S.p.A. 2. Approval of the separate financial statements as of 31 December 2007 The separate financial statements as of 31 December 2007 were approved by the Board of Directors on 20 March 2008 and have been audited. The Meeting called to approve the separate financial statements has the right to make changes to them. The Board of Directors also approved the consolidated financial statements of the Indesit Company Group on the same date. 3. Significant events subsequent to year end Key events subsequent to year end included the demerger in February 2008 of Marchi e Brevetti S.r.l., owner of the Ariston brand, in accordance with agreements reached between Indesit Company S.p.A. and Merloni Termosanitari S.p.A. This company was jointly owned by the two groups. As a consequence, the two groups have acquired full economic of the Ariston brand in the product sectors in which they are active. With regard to Indesit Company S.p.A., this demerger up resulted in the setting up of Indesit Company IP S.r.l., wholly owned by the Company, which therefore owns the rights to use the Ariston brand in the relevant product sectors. 4. Statement of compliance with IFRS and basis of presentation The separate financial statements of Indesit Company S.p.A. have been prepared in accordance with the International Financial Reporting Standards - IFRSs TM (hereafter referred to as IFRS or IAS) issued by the International Accounting Standards Board (IASB), as interpreted by the International Financial Reporting Interpretations Committee (IFRIC) and adopted by the European Union. The separate financial statements as of 31 December 2007 have also been prepared in accordance with Consob's instructions regarding the format of financial statements, in application of art. 9 of Decree 38/2005 and other Consob regulations and instructions concerning financial statements. The separate financial statements as of 31 December 2007are presented on a comparative basis and comprise the balance sheet, the income statement, the cash flow statement, the statement of changes in equity and these explanatory notes. The income statement format adopted by the Company classified costs by type of nature, while the balance sheet distinguishes between current and non-current assets and liabilities. The cash flow statement is presented using the indirect method. In addition, for consistency with the income statement format adopted for the 20
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