Whirlpool Corporation - Who we are
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Transcript of Whirlpool Corporation - Who we are
WHIRLPOOL CORPORATION CONFIDENTIAL WHIRLPOOL CORPORATION CONFIDENTIAL
March 2013 WHO WE ARE - WHIRLPOOL CORPORATION
WHIRLPOOL CORPORATION CONFIDENTIAL
EVERY HOME…EVERYWHERE
COMPANY OVERVIEW
Over $18 billion in revenue
Markets to consumers in nearly every country
World’s leading manufacturer and marketer of home appliances
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#1 North America
#1 Latin America
#2 India
#4 Europe, Middle East and Africa
WHIRLPOOL CORPORATION CONFIDENTIAL
WHIRLPOOL HISTORY
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WHIRLPOOL HISTORY
Multi-Product and Whirlpool Brand
Multi-Brand International Expansion
Globalization
1911 - 1948 1948 - 1980 1980s 1990s
Single Product, Single Customer, No Brand
WHIRLPOOL CORPORATION CONFIDENTIAL
THE WORLD’S LEADING MANUFACTURER AND MARKETER OF MAJOR HOME APPLIANCES
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• Products: full line of major home appliances
• 2012 sales: $ 18.1 billion
• 2012 net earnings: $ 401 million
• 2012 units shipped: 52, 500, 000
• Manufacturing, Research & Technology: 13 countries, 4 continents 65 R & T centers
• R & D investments: 2006 - 2010 : $ 516 million
• Marketing: 130+ countries
• Employees: approximately 68,000 worldwide
• Brands: compelling portfolio of consumer preferred brands
WHIRLPOOL CORPORATION CONFIDENTIAL
EVERY HOME…EVERYWHERE
SENSE OF PURPOSE
Improving Lives … One Home, One Family at a Time
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WHIRLPOOL CORPORATION CONFIDENTIAL
WHIRLPOOL CORPORATION HAS SIX $1 BILLION+ BRANDS
LEADING PORTFOLIO OF BRANDS
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WHIRLPOOL CORPORATION CONFIDENTIAL
#1 Major Appliance Company
Strongest Brand
Portfolio
Best Distribution
Leading Scale
Geographic expansion
Product innovation
Product line/
Channel share growth
Adjacent Businesses
STRONG FOUNDATION + GROWTH = LONG-TERM VALUE CREATION
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WHIRLPOOL CORPORATION CONFIDENTIAL
LEADING GLOBAL BRANDED CONSUMER PRODUCTS COMPANY
SIGNIFICANT OPPORTUNITY TO GROW CORE PRODUCT LEADERSHIP AND EXPAND ADJACENT BUSINESSES
EXTEND THE CORE EXPAND BEYOND
THE CORE + +
Products or services that
are dependent on
and related to our
core business
Stand-alone businesses
that leverage our core
competencies and core
business infrastructure
GROW THE CORE
T-12 major appliances
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WHIRLPOOL CORPORATION CONFIDENTIAL
REVENUE SEGMENTATION
2012 Long-Term Revenue
Growth Target
Core Products + 4 – 6%
Adjacent Products/ Businesses
+ 10 – 15%
Total Whirlpool + 5 – 7%
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78%
22%
Core Non-Core
WHIRLPOOL CORPORATION CONFIDENTIAL
GLOBAL LEADER MORE DIVERSIFIED REVENUE
2012
2006
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North America $9.6B 52%
Latin America $5.0B 27%
Europe, Middle East and Africa
$2.9B, 16%
Asia $0.8B
5%
North America $11.6B, 64%
Latin America $2.7B, 15%
Europe, Middle East and Africa
$3.4B, 19%
Asia $0.5B
2%
WHIRLPOOL CORPORATION CONFIDENTIAL
OVER 2/3 OF INTERNATIONAL REVENUE DERIVED FROM EMERGING MARKETS
STRONG AND GROWING PRESENCE IN EMERGING MARKETS
2006 2012
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Europe, Middle East and Africa
52%
Latin America
41%
Asia 7%
Europe, Middle East and Africa
33%
Latin America
57%
Asia 10%
WHIRLPOOL CORPORATION CONFIDENTIAL
GROWTH OPPORTUNITY AS PENETRATION INCREASES
SIGNIFICANT GROWTH OPPORTUNITIES
Current Average Penetration %
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0%
10%
20%
30%
40%
50%
60%
70%
80%
United States
Western Europe
Central & Eastern Europe
Middle East Mexico Latin America
China India
WHIRLPOOL CORPORATION CONFIDENTIAL
STRONG INTERNATIONAL ASSETS
Leading brand portfolio
Leading emerging market position
#1 in Latin America appliance
#1 in Global Compressors
#2 in India
Platform for growth in China
Superior economies of scale
Leveraging global capabilities in local regions
Strong local management base
We have developed local capabilities to win
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WHIRLPOOL CORPORATION CONFIDENTIAL
2013 ONGOING BUSINESS OPERATIONS(1)
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NEGATIVE NEUTRAL POSITIVE
Global demand
Innovation and adjacent business growth driving mix
Fixed-cost and capacity-reduction benefits
Ongoing cost productivity
Free cash flow
Material and oil- related costs
Foreign currency
WHIRLPOOL CORPORATION CONFIDENTIAL
MARGIN EXPANSION ACTIONS DELIVERING RESULTS
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Record year of margin expansion in 2012
Continued margin expansion and strong underlying cash generation in 2013
Well positioned for global industry demand recovery
Favorable trends in U.S. housing and growth opportunities in emerging markets
Remain committed to delivering 8 percent margin target by 2014
2%
4%
6%
8%
Q3 '11 Q4 '11 H1 '12 Q3 '12 Q4 '12 2013 Target
Ongoing Business Operating Margin(1)
WHIRLPOOL CORPORATION CONFIDENTIAL
Shareholder Value Creation Targets
ROADMAP FOR GROWTH AND VALUE CREATION
Growth
► Geographic expansion ► Product line extension ► Adjacent revenue streams
Margin Expansion
► Leading brands & innovation
► Extend cost leadership ► Extend quality leadership
Cash Generation
► Disciplined capital investment
► Increased asset turnover
+5 – 7% Revenue Growth
4 – 5% FCF % of Sales
8% Operating Margin
+10 – 15% EPS Growth
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