European certification given to appliances combining high performance and minimum energy consumption.
CGU (Cash Generating Unit)
The smallest identifiable group of activities that generate incoming cash flows and are largely independent of incoming cash flows from other activities or groups of activities.
Number of service requests over total products sold.
Rules and codes of conduct disciplining the control of a company, its ownership structure and the efficiency of its management in pursuing business objectives.
Defined Benefit Plan
Fixed income pension scheme that a company must pay its retired employees. Fixed contribution pension scheme. The amount of income will depend on the contribution payments and on yields.
Defined contribution plan
Fixed contribution pension scheme. The amount of income will depend on the contribution payments and on yields.
Earnings before interest, taxes, depreciation and amortization (gross operating margin) / Earnings before interest and taxes (operating margin).
EPS (Earning Per Share)
Net profits (losses) for the year over the number of shares in circulation.
Fair Value option
The possibility of stating at fair value certain assets and liabilities with specific characteristics.
Price at which an asset may be traded or a liability extinguished in a free transaction between informed and consenting parties.
Clauses stipulated to discipline financial events (esp. loans and credit lines).
Free cash flow
Cash flows from operating business and investment activities net of dividend payouts and capital increases.
A method that designates a hedging instrument, normally a derivative, as an offset to changes in the fair value or cash flows of a hedged item.
International Accounting Standards/International Financial Reporting Standards.
An assessment carried out at each balance sheet reference date to search for indications that assets may have undergone lasting loss of value and to estimate recoverable values.
Net working capital
The difference between short-term assets and short-term liabilities of a trade and financial nature.
Operating Cash Flow (OCF)
Cash flows generated by operating business.
PMS (Performance Management System)
A system for assessing employees' professional performance, so they can improve and develop their careers on the basis of their aptitudes and competencies.
Projected Unit Credit (PUCM)
An actuarial method of stating balance sheet items (esp. employee severance indemnity).
Purchase price allocation
Fair value statement of all the major assets and liabilities of an acquired company.
Awards and ceremonies accorded to meritorious employees on retirement.
EC Directive disciplining the use of hazardous substances in electrical and electronic equipment.
A company's sales to commercial intermediaries; goods entering a point of sale.
Without recourse transfer of a portfolio of receivables in exchange for an issue of securities secured by the receivables themselves.
Sales by retailers to consumers; goods leaving a point of sale.
Special economic zone
A geographical area with laws different from those of the country to which the area belongs, usually for the purpose of attracting foreign investment.
A faculty granted by enterprises to their managers whereby the latter may buy or subscribe a certain number of company shares at a favourable, predetermined price and within a limited period of time.
The organizational and IT structure that manages and co-ordinates business processes, from procurement of materials and components through to delivery of finished products.
The time required before options on shares can be exercised and the shares can be subscribed by the holder under a given stock option plan.
WACC (Weighted Average Cost of Capital)
The average cost of a company's various sources of funding, including both debt and equity; usually used an indicator to track a company's operating cash flows and assess its financial position and EVA (economic value added).
WEEE (Waste Electrical and Electronic Equipment)
EU Directive regulating the end of the life cycle of household appliances.
WRAP (Web Ready Appliances Protocol)
An exclusive technology enabling household appliances to dialogue amongst themselves and with the outside world. Wrap is also the Group company specializing in electronics research.
IndesitCo's Administration, Finance and Control department.
art. 150, TUIF Procedure
procedure for fulfilling the obligations indicated in art. 150, clause 1, TUIF, regarding notices to the Statutory Audit committee, adopted by the Board on 20/3/2003.
IndesitCos' board of directors.
Italian Civil Code.
IndesitCo's chief executive officer.
national collective employment contract for managers in industrial companies.
the "Corporate Governance Code for Listed Companies" adopted by the Corporate Governance Committee of Borsa Italiana S.p.A., March 2006.
Code of Conduct
IndesitCo's Code of Conduct, also applying to its subsidiaries, approved by the Board on 25/3/2010.
procedure for disclosures to the market, adopted by the Board on 14/3/2001.
IndesitCo's legal and corporate affairs department.
officer charged with preparing IndesitCo's accounting documents and financial report.
IndesitCo's External Communication and Press Office function.
IndesitCo's External Communication and Press Office function.
IndesitCo's draft separate financial statements, consolidated financial statements and Annual Report at 31st December 2010.
Group Administrative Processes function, within the AFC.
IndesitCo and its direct and indirect subsidiaries.
IndesitCo's Human Resources and Remuneration Committee.
IndesitCo's Internal Control Committee.
the Group's internal control system.
IndesitCo or Company
Indesit Company S.p.A.
Investor Protection law
law 262 (28 December 2005), "provisions for the safeguarding of investors and disciplining of financial markets," as subsequently amended and integrated.
Issuers' Regulations or IR
rules implementing the TUIF, adopted by Consob under resolution 11971 (14 May 1999) and subsequent amendments.
long-term incentive and retention plan for certain Group executives.
the "Accounting Standards Manual" adopted by the Group.
IndesitCo's organisation, management and control model, approved by the Board on 25/3/2010.
the Group's medium-term strategic plans.
Network Information System operated by Borsa Italiana S.p.A..
procedure pursuant to art. 152-octies, clause 8, IR, adopted by the Board on 23/3/2006.
IndesitCo's Supervision Body pursuant to D.Lgs. 231/2001.
any information (a) of a precise nature, (b) that has not been made public, (c) directly concerning IndesitCo or the Group or financial instruments issued by IndesitCo, and (d) that if made public, could appreciably affect the prices of financial instruments issued by IndesitCo. Information is deemed of a precise nature if:
i) it refers to a set of existing circumstances or circumstances that may be reasonably expected by occur;
ii) it is sufficiently specific to enable conclusions to be drawn on the possible effect of the set of circumstances or the event in i) above on the prices of the financial instruments;
iii) it is not available to 3rd parties in any case.
register of people with access to Price-sensitive Information kept at IndesitCo and set up with a procedure adopted by the Board on 23/3/2006 pursuant to art. 115-bis, TUIF, and relative regulations.
this report on the corporate governance and ownership structure.
the HRRC restricted to the Committee's independent director members and the Chairman of the Statutory Auditors or other Standing Auditor.
Related Party Transaction as defined in the RPT Regulation.
the board of directors' committee, comprising three independent directors, set up to carry out the activities required by the RPT Procedure.
procedure for carrying out RPTs, drawn up in accordance with the RPT Regulation and adopted by the Board on 29/10/2010.
Consob regulation 17221, dated 12/3/2010, on RPTs, as modified by Consob under Resolution 17389, 23/6/2010, and subsequent amendments, additions and interpretations.
IndesitCo's Strategic Development Committee.
a meeting of IndesitCo shareholders.
Legislative decree 27/2010 and other provisions of law and regulations governing the exercise of certain rights of shareholders of listed companies; assimilates Directive 2007/36/CE (Shareholders' Rights Directive).
IndesitCo's Supervision Body.
IndesitCo's Statutory Audit Committee.
any company controlled by IndesitCo, including indirect companies, pursuant to art. 2359 Italian civil code.
Legislative decree 58 (24 February 1998) "Consolidated act concerning financial broking for the intents and purposes of art. 8 and 21, law 52, 6 February 1996", and subsequent amendments and additions.
procedure for carrying out significant transactions and related party transactions, adopted by the Board on 20/3/2003.