Separate Financial Statements 2007 - Indesit

Separate Financial Statements as of 31 December 2007
(million euro)
Description Subsidiaries Other Transfer Total
companies
OPENING BALANCES
01 January 2006
Historical value 431,1 0,2 0,7 432,0
Accumulated depreciation (22,2) - - (22,2)
Total 01/01/2006 409,0 0,2 0,7 409,9
CHANGES
Purchases 7,7 - - 7,7
Transfer 106,4 - (0,7) 105,7
Disposals (5,8) - - (5,8)
Reversal of write-down - - - -
Disposal/delate - (0,1) - (0,1)
Total 108,3 (0,1) (0,7) 107,5
BALANCES AT
31 December 2006
Historical value 545,2 0,1 - 545,3
Accumulated depreciation (28,0) - - (28,0)
Totale 12/31/2006 517,2 0,1 - 517,3
CHANGES
Purchases 17,8 - - 17,8
Transfer - - - -
Write-down (21,6) - - (21,6)
Reversal of write-down - - - -
Disposal/delate (28,5) - - (28,5)
Total (32,2) - - (32,2)
BALANCES AT
31 December 2007
Historical value 534,6 0,1 - 534,6
Accumulated depreciation (49,6) - - (49,6)
Totale 12/31/2007 485,0 0,1 - 485,2
In 2007, Indesit Company S.p.A. purchased the remaining 9.80% interest in Aermarche S.p.A.
from Fines S.p.A. (a related party), which has therefore become a wholly-owned subsidiary.
The purchase price was 2.2 million euro.
Acquisitions also included an increase in the investment in Indesit Company Luxembourg Sa,
recorded in accordance with the accounting treatment of the Financial Guarantee Contracts
given without charge, and an increase in the investment in Indesit Electrodomesticos Sa
following subscription to a participating loan.
The caption "Disposal/delate" related to the merger of Wrap S.p.A. on 1 March 2007, with tax
and accounting effect „s from 1 January 2007.
The investment in Indesit Company UK Finance LLP (Limited Liability Partnership), a
subsidiary, 11.6 million euro to reflect the dividend paid out of pre-acquisition earnings.
The investment in Indesit Electrodomesticos Sa shows an impairment loss of 10.0 million euro
to reflect the losses incurred by this subsidiary.
The cumulative write-downs recorded are analysed in the following table:
49