Global Leadership
We reported top-line growth driven by our focused and successful execution of cost-based price increases coupled with sustained consumer demand.”
A Message from
Joe Liotine,
President and Chief
Operating Officer
In the face of a challenging operating and macro environment in 2021, we reported top-line growth driven by our focused and successful execution of cost-based price increases coupled with sustained consumer demand. Combined with our value-creating, go-to-market approach, compelling product innovation and dedicated focus on cost, we achieved record performance for the fourth year in a row in 2021, demonstrating our ability to succeed in any environment.
Each region demonstrated progress toward our strategic value creation initiatives, positioning us for the future while also delivering exceptional 2021 results. We delivered double-digit revenue growth in each region(a), executed strategic divestitures and acquisitions, invested in and delivered innovation across the globe, achieving record margins in North America and significantly improved EBIT contribution from our international regions.
Globally, e-commerce trends continue to see strong adoption and growth. Previous multi-year investments in strategic digital transformation have delivered accelerated growth, and we have tapped into new ecosystems with significant revenue generation opportunities. This was demonstrated by our launch of SWASH brand detergent, marking our entry into the liquid laundry detergent category. This product is just one example that offers our consumers an end-to-end experience. Additionally, leveraging our connected appliance base, we enabled air-fry capabilities through an over-the-air update, directly to our consumers.
We continue to see our consumers engage with our appliances at increased levels. Along with our innovative product offerings and positive consumer trends, our business remains positioned for success and delivers on our vision of improving life at home.
Sincerely,
Joe Liotine
President and
Chief Operating Officer
Regional Achievements
Winn Everhart
EVP and President
Whirlpool North America
Our record revenue and record EBIT margins demonstrate the strength and agility of our teams and our business, as we navigated significant supply chain disruptions and unprecedented inflation.”
João Carlos Brega
EVP and President
Whirlpool Latin America
2021 represents our third consecutive year of double-digit net sales growth, led by our successful direct to consumer business. Additionally, our teams delivered very strong EBIT margins of 8.4%, offsetting supply disruptions, inflation and currency devaluation.”
Gilles Morel
EVP and President
Whirlpool EMEA
We grew revenue 16% while also expanding margins by 190 basis points in a difficult operating environment, demonstrating the effectiveness of our actions and that our long-term profitable growth strategy is on track.”
Shengpo (Samuel) Wu
EVP and President
Whirlpool Asia
We successfully streamlined our portfolio while restoring profitability to the region, expanding margins by 590 basis points, despite significant COVID-related disruptions.”
Footnotes
- (a)For more information on the adjustments and additional reconciliations of non-GAAP measures, such as adjusted free cash flow, gross debt to ongoing EBITDA, ongoing earnings per share and ongoing earnings before interest and taxes (EBIT), to the most directly comparable GAAP financial measures, see pages 36-40 of the 2021 Form 10-K included with this annual report, or the document titled “GAAP Reconciliations” at Investors.WhirlpoolCorp.com/financial-information/annual-reports. For a reconciliation of Asia revenue growth excluding the impact of our Whirlpool China divestiture, please see the “GAAP Reconciliations” document.