Indesit

For 2014, Indesit is one of the leaders in the market of large household appliances - refrigerators, washing machines, cookers, etc. The company's main trademarks are Indesit, Hotpoint-Ariston and Scholtès.

Indesit Company includes 14 plants operating in Italy, Poland, Great Britain, Russia and Turkey, and 24 commercial offices^[1].

Performance indicators

2014: Revenue in the first quarter - 560.1 million euros

In the first quarter of 2014, Indesit's revenue amounted to 560.1 million euros, of which 353.2 million euros were earned in Western Europe, 169.8 million euros in Eastern Europe, the CIS and Turkey, and another 37.1 million euros in other markets.

Compared to the first quarter of 2013, revenue in Eastern Europe fell by 17.2%, which the company explained by a sharp decline in sales in Russia, as well as losses from the growth of the euro against the ruble, Turkish lira and Ukrainian hryvnia. As a result, Indesit's operating profit in the region decreased compared to January-March 2013. immediately by 72%.

Business in Russia

Main article: Indizit International

History

2014: American Whirlpool absorbs Idesit

In July 2014, Whirlpool announced the purchase of a controlling stake in its European rival Indesit. For each security, she will pay 11 euros, the total amount will be 758 million euros^[1].

The Whirlpool report notes that in the framework of transactions with members of the Merloni family and the family asset manager, Fineldo holding company, it will buy 60.4% of Indesit shares. Minus treasury shares on the balance sheet of Indesit itself, Whirlpool will account for 66.8% of the Italian manufacturer's voting shares.

The transaction requires antitrust approval and is expected to close by the end of 2014. Upon completion of the transaction, Whirlpool is obliged to make an offer to buy back shares from the remaining co-owners of Indesit at the same price at which it will buy back shares from Merloni.

During trading on the Italian Stock Exchange in Milan on July 10, 2014, Indesit shares rose in price by 3.23% to 10.87 euros per paper by 11:20 Moscow time.

Notes