Annata: 1983-02-21 Titolo: The Durable Turnaround at Olivetti
Foto: Carlo De Benedetti; Montaggio M20; Electronic calculator; Office chair; Desktop ashtray;
It’s beginning to look like Olivetti has come back to stay. When Carlo De Benedetti, 48, a forceful Turin entrepreneur, took charge of Ing. C. Olivetti & C., Spa, five years ago, the stylish Italian office equipment company appeared to be headed for the scrap heap. Staggering under a mountain of debt, it was losing about $ 100 million a year. Though the last four years have been difficult for the industry in Europe, Olivetti doubled its sales to $ 2.2 billion and for 1982 earned about $ 65 million. While that’s not a robust return on sales-only about 3% – most of Olivetti’s European competitors are in the red.