Strong dollar could cause Whirlpool problems

Strong dollar could cause Whirlpool problems

If the dollar maintains its current level, Whirlpool's 2015 turnover may lose about a billion dollars (875 million euro) compared to 2014, according to CEO Jeff Fettig.

Start of new cycle

To counter the possible detrimental effects of the dollar, Whirlpool intends to increase its prices in particular markets in order to off-set the lower value. In 2014, the company managed a 19.9 billion dollar (17.4 billion euro) turnover.

 

Whirlpool expects positive results in the American market for 2015, with a 4 - 6 % growth forecast. Fettig believes the company will experience a peak in sales this year, some 10 years after the previous peak and in line with the life cycle of most large appliances. 

 

The American housing market has also managed to turn the corner and new homes need new appliances, which would benefit Whirlpool. For its European activities, the company expects no more than a 2 % turnover growth.

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