Raad van Bestuur van Indesit Company stelt resultaten 2009 vast en schrijft aandeelhoudersvergadering uit
Persbericht
Raad van Bestuur van Indesit Company stelt resultaten 2009 vast en schrijft aandeelhoudersvergadering uit
Bedrijf bevestigt geconsolideerde cijfers zoals in februari 2009 bekend gemaakt:
EBIT: 119 miljoen euro (stabiel bij 4,5 procent van de omzet)
Nettowinst: 35 miljoen euro
Omzet: 2,6 miljard euro (daling van 17 procent)
Nettoschuld: 290 miljoen euro tegen 474 miljoen euro aan het eind van 2008
Raad van bestuur stelt aan aandeelhoudersvergadering voor om een dividend uit te keren van 15 eurocent per gewoon aandeel
De Meern, 26 maart 2010 – De raad van bestuur van Indesit Company heeft de geconsolideerde financiële resultaten over 2009 en de aparte resultaten van de holding, Indesit Company S.p.A., vastgesteld. De raad van bestuur legt deze voor aan de aandeelhoudersvergadering die eind april plaatsvindt. De raad keurde tevens het jaarverslag over corporate governance en eigenaarschap goed.
De geconsolideerde financiële resultaten over 2009, zoals gepubliceerd op 11 februari 2010, sloten met een operationele marge (EBIT) van 118,6 miljoen euro. Dat is een daling van 15,6 procent ten opzichte van 140,6 miljoen euro in 2008.
De operationele marge (EBIT) voor eenmalige inkomsten en lasten van 50,4 miljoen euro bedroeg 169 miljoen euro, een stijging van 5,6 procent ten opzichte van 2008.
Het nettoresultaat van de groep bedroeg 34,5 miljoen euro.
De jaaromzet kwam uit op 2,6 miljard, een verlaging van 17,2 procent.
De nettoschuld daalde naar 290,2 miljoen euro. Dat is 183,6 miljoen euro minder dan het jaar ervoor, toen de nettoschuld 473,8 miljoen bedroeg.
Gezien de positieve resultaten over 2009 stelt de raad van bestuur aan de aandeelhoudersvergadering voor om een dividend uit te keren van 15 eurocent per gewoon aandeel.
Hieronder vindt u het volledige Engelstalige persbericht.
PRESS RELEASE
Indesit Company’s Board of Directors approves the financial statement for 2009
and call a shareholders’ meeting
The consolidated figures announced in February are confirmed:
EBIT: euro 119 million, stable at 4.5% of sales.
Net profit: euro 35 million.
Revenues: euro 2.6 billion, down 17%.
Net financial indebtedness: euro 290 million against euro 474 million at the end of 2008.
The Board of Director proposes to the shareholders’ meeting a dividend distribution of euro 0.15 per ordinary share.
Milan, 25th March 2010 – Indesit Company’s Board of Directors met in Milan today to approve the consolidated financial statements for 2009 and the draft separate financial statements of the group holding company, Indesit Company S.p.A., which will be submitted to the shareholders’ meeting (28th April 1st call and 29th April 2nd call). The Board also approved the annual report on corporate governance and ownership.
The consolidated financial statements for 2009, as announced on 11th February, closed with an operating margin (EBIT) full-year 2009 of €118.6m (€140.6m), down 15.6%. The ratio to sales was stable at 4.5% (4.5%).
The operating margin (EBIT) before non-recurring income and charges of €50.4m amounted to €169.0m (€160.0m), up 5.6% on 2008; the ratio to sales was 6.5% against 5.1% in 2008.
The net result for the Group was €34.5m (€55.5m).
Revenues for the year amounted to €2,613.0m (€3,154.9m), down 17.2%. At constant exchange rates, sales in 2009 amounted to €2,790.0m, down 11.6%.
Net financial indebtedness moved down to €290.2m, an improvement of €183.6m on €473.8m at 31st December 2008. The figure is down €228.0m on the €518.2m posted at 30th September 2009.
Given the positive results posted in 2009, the Board of Directors decided to put to the shareholders’ meeting a proposal for a dividend pay-out of €0.15 per ordinary share and €0.168 per savings share. The proposed dividend includes the portion due to treasury shares (the supplement on the basis if treasury shares held as of today is €0.014 per share). The pay-out on ordinary shares for 2009, should all stock options be exercised by the date of the shareholders’ meeting, is 45%.
The Board of Directors also approved the draft separate financial statements of the group parent Indesit Company S.p.A., which closed the year ending 31st December 2009 with revenues of €1,306.1m (€1,578.8m), down 17.3%, an operating margin (EBIT) of €5.4m (€5.0m) and net profit of €37.4m (€62.6m), down 40.3%.
The shareholders’ meeting, called for 28th April, at 11 am (1st call) in Fabriano, and 29th April (2nd call), same time and place, to approve the financial statements of Indesit Company S.p.A. and appoint a new Board of Directors will also include an extraordinary meeting for the purpose of examining proposed modifications to the by-laws. Such modifications are designed to ensure, among other things, compliance with new legislation on shareholders’ rights and operations with correlated parties.
The Board also decided to propose to the shareholders’ meeting a request to be authorized to buy and/or sell the Company’s ordinary and/or savings shares for a period of 12 months from the date of the Meeting’s resolution since the authorization granted under the resolution dated 29th April 2009 will expire upon the shareholders’ meeting called to approve the financial statements.
The main reasons for the Board’s request for such authorization may be summarized as follows:
a) to intervene, as allowed by current law, directly or through authorized intermediaries, to contain anomalous movements in the price of Indesit Company’s equity and regularize trends in trading and prices in cases of momentary phenomena caused by excess volatility or low-level liquidity in trades;
b) to purchase and/or dispose of treasury shares whenever the market provides adequate remuneration;
c) to use treasury shares to serve stock option plans for directors and/or employees of the Company or its subsidiaries (current and/or future);
d) to use treasury shares in payment for equity investments, serving finance operations (including extraordinary ones such as bond issues), securing loans or for simple disposal within the framework of the Company’s financial and investment policies.
Outlined below are the main terms of the authorization requested by the Board.
As of today, the Company holds 11,039,750 ordinary shares of par value €0.90, which is 9.672% of the share capital. Purchases may be made in one or more tranches provided the total value of treasury shares held from time to time does not exceed the overall legal limit. New purchases may only be made within the limits of distributable profits and available reserves. The purchase price of each ordinary and/or savings share must be no more than 15% lower or higher than the average official stock market price over the three days prior to each purchase operation. Purchases may be made in accordance with the combined provisions of art. 132, TUIF and art. 144 bis, Issuers’ Regulations (taking into account the specific exemption provided for in clause 3 of said art. 132) and in any case following any other procedures contemplated by current law.
Own shares already held or any others subsequently bought back, even before all possible purchases have been made as authorized above, may be disposed of (if not tied to stock option plans) at the price or in any case at the conditions and according to the criteria adopted by the Board, taking into account the procedures involved, the trend in the share price in the period preceding the operation and the best interests of the Company.
Principal awards in 2009
In 2009, Indesit Company received a number of important international awards for innovation and design.
Hotpoint-Ariston’s new 4-door fridge, the Quadrio, was elected Product of the Year 2009 in Italy at the “Gran Premio Marketing e Innovazione” and in the UK by Get Connected, a consumer electronics magazine, for its flexibility and eco-efficiency.
In January, Scholtès’s Multiplo, an innovative cooking vessel, was one of the winners in the “Kitchen” category at the 2008 Good Design Awards, organized by the Chicago Athenaeum-Museum of Architecture and Design.
In February, Hotpoint was elected “Most Trusted Domestic Appliance Brand”, for the 9th time running, by a Reader’s Digest survey in the UK, and also received a Superbrands Award as a brand perceived to be one of the strongest in the country.
In July, lastly, Indesit Company was ranked in the ADI Design Index 2008 with its Moon washing machine, the only home appliance in the “Abitare” section of the 100 best examples of Italian design. All the products selected for the 2008 ADI Design Index will be entered for the 22nd Premio Compasso d’Oro, the most authoritative European award focusing on Italian design.
In October, the Company received a 2009 Sustainable Development Award, in collaboration with Ecomondo-Rimini Fiera, under the aegis of the President of the Republic. Indesit Company was acclaimed for its new low consumption/high energy efficiency appliances, reduced water consumption and innovation in manufacturing processes, such as indexes for measuring product recyclability.
In November, Indesit Company appliances with the “Ecotech” green label were recognized by Legambiente’s “Environmentally Friendly Innovation Awards” (2009) as examples of innovation in support of the environment and energy saving.
And lastly, in December, Indesit Company was ranked as a eco-virtuous company at the 2009 Ecohitech Awards, and also won a European Excellence Award (2009), a prestigious award promoted by the trade magazine “Communication Director”, for its new intranet, Insight.
Corporate Governance. The Board of Directors approved the annual report on corporate governance and ownership. In the course of the board meeting, an assessment was made of the independence of the directors. The following directors were seen to be independent on the basis of the criteria adopted by the Company: Bruno Busacca, Innocenzo Cipolletta, Adriano De Maio, Luca Garavoglia, Mario Greco, Hugh Malim, Emma Marcegaglia and Paolo Monferino. The Board provided for an updating of the organizational model.
The Board also called a special meeting of the savings shareholders to appoint – their representative.
The dividend will be available from 20th May 2010. Ex dividends date is 17th May 2010.
The Board of Directors reports on the agendas of the shareholders’ meetings, the consolidated financial statements, the draft separate financial statements and the annual report on corporate governance and ownership will be published within the terms set by current law. They will be posted on the Company’s website, www.indesitcompany.com, at the same time.
This press release is also available, as of today, on the Company’s website, www.indesitcompany.com.
The manager charged with preparing the company’s financial reports, Andrea Crenna, confirms, pursuant to paragraph 2, art. 154-bis, Consolidated Finance Law, that the accounting information included in this press release agrees with the underlying documentation, records and accounting entries.
The figures in brackets are the values for the previous year.
* Definitions of performance indicators:
EBIT: operating margin as per income statement.
EBITDA: operating margin, as per income statement, before amortization and depreciation and impairment.
Net working capital: inventories plus trade receivables minus trade payables.
Net financial indebtedness: the balance of current financial assets, cash and cash equivalents, payables to banks and other financial payables, medium/long-term financial payables and other non-current financial assets.
Net financial position: the balance of current financial assets, cash and cash equivalents, payables to banks and other financial payables and medium/long-term financial payables.
Noot voor de redactie, niet voor publicatie
Voor meer informatie:
Lammers van Toorenburg Benelux PR
Annemieke van Baal / Jasper Koek
Tel.: 030 – 65 65 070
E-mail: indesit@lvtpr.nl
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