Hilti outperforms the market
25 January 2024
Schaan - The Hilti Group’s global sales increased by nine per cent in local currencies in 2023, meaning the tools manufacturer from Schaan outperformed the market. Southern Europe proved to be the main growth driver.
The Hilti Group generated global sales totaling 6.52 billion Swiss francs in 2023, according to a statement from the Schaan-based tools manufacturer. In a year-on-year comparison, this corresponds to growth of nine percent in local currencies. Growth in Swiss francs was significantly lower at 2.7 per cent due to a significantly negative currency impact.
“Despite the ongoing economic and geopolitical uncertainties, we grew at a high single-digit rate in local currencies and, with that, outperformed our industry,” CEO Jahangir Doongaji is quoted as saying. “We expect a further softening of the environment in 2024 but are well equipped to face this challenge and confident to continue our growth.” For the current year, Hilti expects a mid-single-digit sales growth in local currencies.
Business in Southern Europe proved to be the main growth driver in the reporting year, writes Hilti. The Europe region overall closed the year with an increase in sales of 8.7 per cent in local currencies. The Americas region improved its sales by 9.1 per cent compared to the previous year. Business in the Eastern Europe, Middle East and Africa region was 3.1 per cent stronger than in 2022 in local currencies. The Asia and Pacific region recorded the highest sales growth at 13.8 per cent.