Hilti presents good start to the year
16 May 2023
The Hilti Group has recorded global sales of 2.14 billion Swiss francs in the first four months of 2023, which is 5.4 percent higher than the same period of the previous year. Double-digit growth was achieved in local currencies in Europe, America, and Asia/Pacific.
According to a press release from Hilti, the international tool manufacturer from Schaan earned sales totaling 2.14 billion Swiss francs in the first four months of 2023. This corresponds to growth of 5.4 percent in Swiss francs and 9.7 percent in local currencies versus the same period of the previous year.
For the business regions of Europe, America, and Asia/Pacific, Hilti was able to achieve double-digit growth rates of between 10.3 and 17.0 percent in local currencies. Sales in the business region of Eastern Europe/Middle East/Africa were 15.1 percent lower than in the same period of the previous year. The company attributes this to the war in Ukraine. In China, business recovery was slowed by the delayed resumption of construction activity after the pandemic.
CEO Jahangir Doongaji commented in the press release: “Interest rate hikes, continued inflation and geopolitical tensions still have a negative impact on the global construction market. However, we observe geographic differences with a negative sentiment in Europe, a mixed picture in the Americas and positive signals from Asia.” Doongaji explains that the company is adapting to this situation, with growth in the first four months meeting the group’s expectations. Hilti anticipates high single-digit sales growth in local currencies for the year as a whole.