2024 Annual ReportIn 2024, we faced a difficult macroeconomic environment and took decisive actions to deliver promotional pricing improvement and approximately $300 million cost take out. We completed a significant step in our portfolio transformation with the closure of our Europe transaction in April, and as a result, we simplified our organization’s operating model, enabling greater business unit autonomy. Our business remains well-positioned for success as we continue to deliver innovative new products that improve life at home for our consumers.
Segment Achievements & Operational Priorities
Major Domestic Appliances North America
In the U.S. we continued to face a challenging macroeconomic environment with weak discretionary demand. We executed on our operational priorities with strong cost take out and promotional pricing actions. With our strong brand portfolio, innovative product launches and leading business with U.S. homebuilders, we are well-positioned to benefit from a future housing recovery.
Alessandro Perucchetti Executive Vice President and President, Whirlpool North America
Major Domestic Appliances Latin America
We delivered solid net sales growth of 4% through strong share gains in Brazil alongside industry strength in Brazil and Mexico, despite unfavorable currency impacts. Incremental volumes, pricing and cost actions delivered strong EBIT margin expansion of 140 basis points. We continue to invest in our leading brands (Brastemp, Consul and Whirlpool) and expect sustained strong margins in 2025.
Juan Carlos Puente Executive Vice President and President,
Whirlpool Latin America
Small Domestic Appliances Global
We delivered 4% net sales growth despite a challenging industry environment, driven by new product launches and strength in our direct-to-consumer business. We expect strong net sales growth in 2025 from our new product introductions in high potential categories such as espresso, cordless appliances and blenders.
Ludovic Beaufils Executive Vice President and President,
KitchenAid Small Appliances
Major Domestic Appliances Asia
Industry strength and share gains drove strong results, with 9% net sales growth and 160 basis points of EBIT margin expansion. We generated $462 million of net cash from the sale of our 24% stake in Whirlpool of India, and expect to further reduce our stake by ~30% in 2025. We are confident in the long-term growth opportunities in the segment and expect this transaction to enable Whirlpool of India to focus on growth acceleration.
James Peters Executive Vice President, Chief Financial and Administrative Officer and President,
Whirlpool Asia
- (a) The ongoing measures, including ongoing earnings before interest and taxes and ongoing earnings per diluted share, as well as free cash flow, are non-GAAP measures. Please see Financial Reconciliations for a reconciliation of these non-GAAP measures to their equivalent GAAP measures.
