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2006 Q3 results

Indesit Company. 2006 Q3 results. October 26, 2006. Q3 ’06 - Highlights. [change vs. same period y-1]. Sales : +5.0% Operating income* : +31% Operating margin* : +120 bps Net Working Capital : - € 80M Net Financial Position : - € 119M. *. Before restructuring costs.

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2006 Q3 results

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  1. Indesit Company 2006 Q3 results October 26, 2006

  2. Q3 ’06 - Highlights [change vs. same period y-1] • Sales : +5.0% • Operating income* : +31% • Operating margin* : +120 bps • Net Working Capital : - € 80M • Net Financial Position : - € 119M * Before restructuring costs

  3. 9M ’06 - Highlights [change vs. same period y-1] • Sales : +5.1% • Operating income* : +22% • Operating margin* : +80 bps * Before restructuring costs

  4. Q3 ’06 - Sales [€M; change vs. same period y-1] Q3 ‘06 Q3 ‘05 % Var. Net sales 871 829 +5.0% - - Market Share : + 50 bps Price/mix: -0.7% Appliances breakdown by product line - Cooking 180 179 +0.5% - Refrigeration 263 250 +4.9% - Washing 370 348 +6.0%

  5. Operating income (before restr. costs) 52 6.0% 40 4.8% 31% Restructuring costs 7 0.8% 11 1.3% (40%) Operating income (after restr. costs) 28 3.4% 45 5.2% 59% Q3 ’06 - Operating income [€M] Q3 ‘06 Q3 ‘05 Δ% • Positive price/mix trend • Good UK performance • SG&A firmly under control

  6. % vs. last 12 months sales 6.9% 9.8% (2.9%) September 30 ’06 - Net Financial Position [€M] ‘06 ‘05 Var. Net Working Capital 218 298 (80) Tight working capital control and capex efficiency Net Financial Position 614 734 (119)

  7. Industry Unit Shipments [% change vs. same period y-1] Q3 ’06 9M’ ’06 +2% +2.4% West Europe +4% +6.2% East Europe* +6% +6.4% CIS * Excluding Turkey

  8. Market Retail Price [% change vs. same period y-1] Q3 ‘06 9M ‘06 +1% +1.3% West Europe (4%) (4.5%) East Europe* n.a. n.a. CIS * Excluding Turkey

  9. Q3 ’06 - Consolidated Income Statement [€M] Q3 ‘06 Q3 ‘05 % Var 871 829 5% Net Sales 87 76 EBITDA* Margin 14% 10.0% 9.2% 52 40 EBIT* Margin 31% 6.0% 4.8% Restructuring costs (7) (11) (40%) 45 28 EBIT Margin 59% 5.2% 3.4% 3% (8) (7) Financial Items** 38 21 PBT Margin 79% 4.3% 2.5% 23 10 Total Net Income Margin 127% 2.7% 1.2% * Before restructuring costs ** Including income and expense from associates

  10. 9M ’06 - Consolidated Income Statement [€M] 9M ‘06 9M ‘05 % Var 2,335 2,223 Net Sales 5.1% 231 208 EBITDA* Margin 11% 9.9% 9.4% 125 103 EBIT* Margin 22% 5.4% 4.6% Restructuring costs (27) (21) 30% 98 81 EBIT Margin 20% 4.2% 3.7% - (20) (20) Financial Items** 78 61 PBT Margin 27% 3.3% 2.8% 43 29 Total Net Income Margin 44% 1.8% 1.3% * Before restructuring costs ** Including income and expense from associates

  11. September 30 ’06-Consolidated Balance Sheet [€M] ‘06 ‘05 ‘06 ‘05 Non-current operating assets 1,243 1,272 Net Financial Position 614 734 Trade receivables Inventories Trade payables 665 370 (817) 703 378 (783) Group equity Minorities 509 14 480 15 Net Working Capital % on sales 218 6.9% 298 9.8% Total Shareholders’ equity 523 495 Short term assets/ liabilities & other liabilities (323) (341) 1,137 Total Sources 1,229 Net Invested Capital 1,137 1,229

  12. Consolidated Cash Flow [€M] Q3 ‘05 9M ‘05 Q3 ‘06 9M ‘06 96 32 5 (86) Operating Cash Flow (23) (42) (73) (103) CapEx 73 (10) (68) (190) Cash Flow before financial activities 3 (28) (32) 6 Financial operations & others 79 (7) (97) (222) Free Cash Flow

  13. September 30 ’06 - Net Financial Position [€M] Short-term indebtedness** 414 Cash, bank deposits and marketable securities* Long-term indebtedness 456 255 Total Financial Liabilities 869 Net Financial Position : €614M * Of which €75M under cash collateral ** Incl L/T debt maturing within 12 months

  14. Manufacturing [Direct manpower hours allocation] West. Europe 60% 66% 60% 40% 40% LCC 34% 2005 9M‘06 2006E

  15. Manufacturing • Two new factories under construction in Poland (Radomsko) • Products: washing machines and dishwashers • Total production capacity: 2 million units • Production start up: first half '08

  16. Q3 ’06 - New Products Launches NEW SLIM Standard Washing Capacity in 40 cm depth

  17. Q3 ’06 - New Products New Top Loading Biggest Washing Capacity : 6 Kg

  18. Q3 ’06 - New Products AttitudeDishwasher Clean & Quiet

  19. Q3 ’06 - New Products New 48 cm Oven Smaller Size - Same Capacity

  20. Q3 ’06 - New Products New A++ Combi Range The Lowest Energy Consumption

  21. FY 2006 guidance . Net Sales: +4-5% vs. 2005 . EBIT margin: >= € 150M

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