Widely reported this morning is that Indesit Company said it expects its full year EBIT to reach around 190 million Euros, up from 160 million in 2006, with sales rising about 5% from 2006’s 3.249 billion.
The forecasts were included in a slide presentation for analysts after the company earlier today announced nine-month EBIT of 135.6 million Euros, up 38.8% , and sales of 2.513 billion, up 7.6%.
The company, which owns the Hotpoint, Creda, Cannon, Indesit and Ariston in the UK stated that in restructuring detail it expects 51% of full year production to be based in low-cost countries, mostly in eastern Europe, up from 49% in the first nine months, and 40 in 2006.
In the full year, sourcing from low cost countries of components should also rise to rise to 36 percent.
In further details on the 9.1% rise in third quarter sales to 950 million Euros, Indesit said cookers were up 11.2% at 200 million, fridges up 9.1% at 286 million, and washing machines up 9.3% at 405 million.
Outperforming areas included the UK, Poland, and Russia. In Europe, including eastern Europe, July-August market share was up 0.70 pct points from a year earlier, it said.
In details on overall market trends for household electrical goods, Indesit has said West Europe was unchanged in the first eight months from a year earlier.