While Indesit Company profit and revenues have fallen the appliance manufacturer has indicated that it may seek to enter into the small appliance market with, we presume, kettles, coffee machines, food mixers and so on in a report from Appliance Magazine this week.
Indesit revenues fell the first quarter of 2013 were EUR 597.7 million (approx. £506 million), down 3.8% from EUR 621.5 million in the first quarter of 2012.
Operating profit in 1Q 2013 was EUR 13.9 million, down 33.2% from 1Q 2012’s EUR 20.9 million.
The group’s net result in 1Q 2013 was a profit of EUR 4.1 million, down -62.2% from 1Q 2012’s profit a EUR 10.7.
Market share for Indesit has been unaffected by the drops.
Indesit saw continuing decline in some key markets, particularly Italy and France, while seeing slim growth in Eastern Europe, notably Ukraine and Turkey.
“The International Area has also reported very positive results,” CEO Marco Milani said. “The Group will continue to extend its offering of new products in 2013, with positive expectations for growth of the mix, and will enter the small domestic appliances market. At the same time, we will continue to align our cost structure with sales performance and continue to safeguard our strong financials. We still have an optimistic view of the future, considering that Indesit has the people, the ideas and the resources to consolidate its position on the domestic appliances market.”
Whether or not this means that we wil see kettles and toasters etc under the Indesit, Hotpoint and Ariston brands remains to be seen. But, we wouldn’t be surprised.
They did this in late 1980`s and it didn`t work then perhaps a hint of being taken over yet again at a future date…probably by Haier?