Indesit Italy said on Thursday it had a €8 million net loss in the second quarter due lower sales as the recession continued to hit consumer demand for home appliances in its main markets.
Last year the appliance manufacturer reported a second-quarter net profit of €12.1 million.
Indesit forecast earnings before interest and taxes will fall 50% to €70 million for the year on lower sales, adding that markets in Russia and Eastern Europe were of particular concern.
For the second quarter, revenue fell to €613 million from €769.1 million for the same period last year.
Its shares, the majority of which are in the hands of the founding Merloni family, were up 0.74% at €4.45. While their price has risen 3.21% this year against a 5.2% rise in the FTSE MIB index for the Milan exchange.