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's activity report 2022

Whirlpool Eesti OÜ is a subsidiary of the US stock company Whirlpool Corporation. The sole owner of the company is Whirlpool International Manufacturing S.a.r.l. (Luxembourg). Operations in Estonia were started in 1997.

The company's main activity during the reporting year was the import and wholesale of household appliances under the Whirlpool, Indesit and Hotpoint brands. Sales mainly took place through two sales channels: - Wholesale of household appliances to retail and online stores; - Wholesale of integrated household appliances to furniture manufacturers and sellers.

The company's sales results were significantly influenced by the following circumstances: - The difficult situation and changes in the supply process caused by the outbreak of war; - The further transformation of the retail market for household appliances and the intensification of competition due to the growth of the market share of online stores and the expansion of the choice of purchase channels for consumers; - The growth of inflation and the increase in electricity prices throughout Europe and especially in Estonia, the rise of Euribor.

Revenues, expenses and profit

The company's sales revenue in 2022 was 9,561 thousand euros (2021 = 8,497 thousand euros), or +13% higher compared to the previous year. The average price of products increased by 11.5% due to the increase in the cost of raw materials.

Gross profit 1,192 thousand euros (2021 = 492 thousand euros) increased by 142% compared to the previous year. Marketing and general administrative expenses increased by 119%.

Main financial ratios 2021 2022

Sales revenue thous. eur 8,497 9,561

Net profit thous. eur 4.5 116.9

Turnover growth % 25% 13%

Gross profit margin % 6% 12%

Profit growth % 87% 2,510%

Net profitability % 0.1% 1.2%

Short-term obligations coverage ratio 2.1 2.3

Turnover growth (%) = (sales revenue new – sales revenue previous)/sales revenue previous

Gross profit margin (%) = gross profit/sales revenue

Profit growth (%) = (net profit new – net profit previous)/ net profit previous

Net profitability (%) = net profit/ sales revenue

Short-term obligations coverage ratio (times) = current assets/ short-term obligations

ROA (%) = net profit/ total assets (optional)

ROE (%) = net profit/ total equity (optional)