Whirlpool 2013 Annual Report Download - page 4

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Chairman’s Message
2013 Results Whirlpool Corporation delivered
record earnings performance in 2013, successfully
driving both revenue growth and margin expansion
with our industry-leading brands and innovative
new products.

compared to the prior year

margin was 7.3 percent, up 1.6 points from 2012,
as we achieved eight consecutive quarters of
margin expansion

including higher dividends, ongoing business
earnings per share of $10.02 and a 54 percent
increase in the company’s stock price
We continued to execute well on those things
that we can control and, as a result, delivered
more earnings than ever before. We tripled our
free cash flow year-over-year to $690 million,
which we effectively deployed in line with our
business priorities. We increased our dividend
by 25 percent during the year and repurchased
$350 million in shares. In addition, we ended the
year with a strong balance sheet and increased
investment capacity.
Led by considerable growth in our North America
and Latin America operations, we strengthened
our financial position around the world with higher
sales, improvements in product price and mix,
ongoing cost productivity, and cost and capacity-
reduction benefits. And we have set the stage to
reach even higher levels of achievement in 2014.
Growth Through Brand and Product
Leadership As the world’s leading global
manufacturer and marketer of major home
appliances, our compelling home solutions are
available to consumers in nearly every country
around the globe.
Jeff Fettig, at Whirlpool Latin America Region offices in
São Paulo, Brazil
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