Stagnation for Whirlpool in 2004

Whirlpool Romania, the importer of products made by US-based home appliance manufacturer Whirlpool, estimates that its turnover will grow at the same pace as the market, after its sales remained at 50 million euros last year amid the decline of the home appliance market. “We estimate the home appliance market will grow by 10-15% this year. Our goal is to increase at at least the same pace as the market for home appliances,” said Mircea Dobre, Whirlpool Romania’s general manager. He gave no details as to the profits made by the company, though it is known that all other players on the home appliances market, both importers and retailers, announced drops in profits by as much as half of those for 2003. Whirlpool Romania made about 50 million euros in turnover in 2004, according to its own estimates. The Finance Ministry website shows it made 2.9 million euros in net profits in 2003. ZF