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2014 Q3 RESULTS

Milan 29th October 2014

2014 Q3 Highlights Vs. 2013


Q3 14

Q3 13

Sales (M )

701

719

EBIT adj.

30

30

% on sales

4.2%

4.1%

EBIT

as of

30th

25

28

% on sales

3.5%

3.9%

Net Debt
Sept (M )

530

553

-2.5 %(*)

+0.1p.p.

-0.3p.p.

(*) At constant Exchange Rates : -0.9%

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2014 9M Highlights Vs. 2013


Sales (M )

9M 14

9M 13

1,885

1,967

EBIT adj.

64

55

% on sales

3.4%

2.8%

58

43

3.1%

2.2%

EBIT
% on sales

-4.2%(*)

+0.6p.p.

+0.9p.p.

(*) At constant Exchange Rates : -1.0%

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2014 Sales variance trend Vs. 2013


Only MDA
H1

Q3

9M

-4.0%

-4.0%

-4.0%

2.4%

2.1%

2.3%

-2.2%

-3.7%

-4.1%

-5.4%

Volume

Price/Mix

Ex. rate
-4.6%

Total
-6.2%

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2014 Industry shipments Vs. 2013

Western

H1

Q3

9M

1.1%

2.0%

1.4%

Europe

Eastern

0.4%

Europe
-2.9%

-5.9%

Greater
Europe

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0.9%

0.2%
-0.9%

2014 EBIT Adj. Key Drivers Vs. 2013


Q3

9M

Product cost

20

55

Price/Mix

11

33

Exchange rate

-15

-48

Volume

-11

-30

Positive

Negative

29/10/2014 2014 Q3 Results

2014 Product cost Vs. 2013


H1

Q3

9M

-5.4%

-6.6%

-5.8%

-2.4%

-2.2%

-2.4%

-3.1%

-3.1%

-3.1%

Manufacturing

Sourcing

Total

Note: Constant Exchange Rates


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2014 Western Europe

Sales (M )

Market Result
% on sales

Sales (M )

Market Result
% on sales

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Q3 14

Q3 13

408

382

29

18

7.1%

4.7%

9M 14

9M 13

1,127

1,096

77

49

6.9%

4.5%

+6.9%

+2.8%

2014 Eastern Europe

Sales (M )

Market Result
% on sales

Sales (M )

Market Result
% on sales

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Q3 14

Q3 13

247

299

15

20

6.3%

6.7%

9M 14

9M 13

631

757

31

39

5.0%

5.2%

-17.6%

-16.5%

2014 International

Sales (M )

Market Result
% on sales

Sales (M )

Market Result
% on sales

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Q3 14

Q3 13

46

37

14.0%

11.8%

9M 14

9M 13

127

115

18

13

14.5%

11.3%

+22.3%

+10.6%

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2014 Q3 Consolidated income statement

Q3 2014
Net Sales (M )

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Q3 2013

701

719

-2.5%

EBITDA (M )
% on sales

50
7.2%

55
7.6%

-0.4 pp

EBIT (M )
% on sales

25
3.5%

28
3.9%

-0.3 pp

PBT (M )
% on sales

11
1.6%

15
2.1%

-27.0%

Net Group Income (M )


% on sales

5
0.7%

9
1.3%

-47.5%

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2014 9M Consolidated income statement

9M 2014

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9M 2013

Net Sales (M )

1,885

1,967

-4.2%

EBITDA (M )
% on sales

134
7.1%

124
6.3%

+0.8 pp

EBIT (M )
% on sales

58
3.1%

43
2.2%

+0.9 pp

PBT (M )
% on sales

15
0.8%

7
0.4%

112.9%

Net Group Income (M )


% on sales

4
0.2%

(8)
-0.4%

n.a.

12

2014 Consolidated Balance Sheet as of 30th September


2014

2013

Non current
operating assets

1,068

1,074

Trade receivables
% on 12m rolling sales

578
22.3%

602
21.9%

Inventories
% on 12m rolling sales

346
13.4%

382
13.9%

Trade payables
% on 12m rolling sales

(703)
27.2%

(739)
26.9%

Net working capital


% on 12m rolling sales

221
8.6%

245
8.9%

Other assets liabilities

(271)

(290)

1,018

1,029

Net invested Capital

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(M )

2014

2013

Net Debt

530

553

Total
Shareholders
equity

488

476

1,018

1,029

Total Sources

(M )

13

2014 9M Consolidated Cash Flow


(M )

2014

2013

EBITDA

134

124

Net financial charges

(43)

(36)

Income tax expenses

(11)

(15)

Change in NWC

(225)

(306)

Change in Other
Assets & Liabilities

(16)

15

Change in Funds

(2)

(6)

Capex

(50)

(49)

Equity

(24)

(204)

(297)

Free cash flow

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14

2014 FY Outlook
Sales: between -1% and -2% Vs. 2013

EBIT Adj %: ~ 3.5%

Net Debt: in line with previous year

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Disclaimer
This presentation contains forward-looking statements regarding future results of Indesit Company
SpA based on intents, beliefs or current expectations. Any of these statements made by or on behalf
of Indesit Company SpA speak only as of the date they are made. Information provided herein have to
be linked to the oral comments made during presentation to analysts.

The forward-looking statements contain no guarantees of future performance and involve risks and
uncertainties that could significantly affect expected results and actual results may materially differ
from those projected or implied in the forward-looking statements as a result of various factors.
Consequently, analysts and investors are warned not to place undue reliance on those statements.
No obligation is undertaken by Indesit Company SpA to update said statements in order to reflect any
expectations with regard thereto or any changes in events, conditions or circumstances on which any
such statement is based.
This presentation does not constitute an offer, or invitation to purchase or subscribe any securities and
no part of it shall form the basis of or be relied upon in connection with any commitment whatsoever.
The manager charged with preparing the companys financial reports, Stefano Cavacini, confirms,
pursuant to paragraph 2 of art. 154-bis of the Consolidated Finance Law, that the accounting
information included in this press release agrees with the underlying documentation, records and
accounting entries.

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