Consumer business:

Revenues’ target confirmed at approximately 4.7 billion euro

  • the growth of total volumes in the segment is forecast at >+5% (>+6.5% previous estimate), with the increase in Premium volumes confirmed at over +16%
  • contribution from the price/mix component confirmed at +4.5%/5.5%
  • lower negative forex impact (~-6%/-6.5% compared with ~-7.5%/~-8.5% previously indicated)

These operational variables translate into a confirmation of Consumer profitability, with an Ebit margin before restructuring charges estimated at equal to or above 15%

Industrial business:

Revenues expected to be below or equal to 1.5 billion euro (~1.5 billion euro previous target) which is the result of:

  • decline in volumes of 5% (-2% previous indication) in consideration of the slowdown in the Latam truck and agro market
  • price/mix increase confirmed at +4%/+5%
  • lower negative forex impact, forecast at ~-9%/~-9.5% (~-11.0%/~-11.5% previous indication)

The profitability of the Industrial business (Ebit margin before restructuring costs) is expected to be approximately 13% (previous target equal to or above 13.5%)

Last Revised: 10 Nov 2014