Milan, 23 March – Merloni Elettrodomestici closed their 2003 consolidated balance with a net profit of 126 million euro (+16 percent, compared to 108 million in 2002) and the board of directors will propose to the shareholders assembly to distribute a dividend of 0.361 euro for ordinary shares, an increase of 12.1 percent compared to the previous year and 0.379 euro for savings shares (0.34 the previous year), to be paid from 27 May. The proposed dividend includes the quota of own shares (the supplement calculated on the basis of own shares till today in the portfolio will be 0.036 euro).
Turnover up till 31 December 2003 was 3.008 millions, an increase of 21 percent, the gross operating margin (Ebitda) 387 millions (+22 percent), the operating margin (Ebit) 246 million (+21 percent) and net debt at 31 December 2003 of 192 million, a slight increase compared to the 181 million at 31 December 2002.