Hilti remains on the road to recovery
24 September 2021
Over the first eight months of 2021, the Hilti Group has managed to significantly improve sales, operating result and net income on a year-on-year basis. The Group has therefore now overcome the pandemic-related slump. Sales in local currencies are also actually up on the 2019 results.
According to a press release issued by Hilti, the Schaan-based construction machinery manufacturer generated sales of 3.87 billion Swiss francs in total over the first eight months of 2021. In comparison with the same period of the previous year, this equates to growth of 13.0 percent. All market regions contributed to the sales growth with double-digit growth rates in local currencies. The largest growth was posted in Europe, at 15.9 percent.
“We have managed to continuously recover from the pronounced dip last year, supported by a positive global construction market”, explains Christoph Loos, Group CEO, in the press release, adding that: “Sales were approximately 5 percent higher compared to pre-crisis level of 2019”.
In terms of the operating result, Hilti posted a result of 613 million Swiss francs, which equates to growth of 37.7 percent versus the first eight months of 2020. In the press release, the Group also indicates that the price of raw materials and transportation costs have both risen year on year. Nevertheless, net income improved by 48.2 percent against the same period of the previous year to stand at 466 million Swiss francs.
Looking ahead, Hilti is confident that its recovery path will be maintained “despite remaining uncertainties due to the COVID-19 pandemic”. The Group is sticking to its target of high single-digit sales growth in local currencies for the 2021 full year previously communicated back in May.