The Liechtenstein construction technology group Hilti has reported growth of 5.8 per cent in local currencies in 2015, as well as record results in North America - despite a 4 per cent fall in net income.
Hilti's net income fell by 4 per cent to CHF 410 million due to higher tax expenses, explains a press release. The currency situation had the opposite effect on the construction company's total sales, which recorded 5.8 per cent growth in local currencies. However, sales in francs fell by 2.5 per cent to CHF 4,384 million. The operating result, meanwhile, grew again: up 2 per cent, it reached CHF 547 million.
Growth was particularly marked in North America, where turnover increased by 10.2 per cent in local currencies, or 13.2 per cent in francs, exceeding the USD 1 billion mark for the first time. Challenged by the effects of high oil prices, the emerging countries grew less dynamically than in recent years. The Asia/Pacific region reported growth of 3 per cent in local currencies, which equates to a 0.9 per cent fall in francs.
CEO Christoph Loos commented that the group had already and would continue to invest in accelerating growth. In 2016, 40 new products are expected to hit the market. In 2015, Hilti's spending on research and development grew again, by 8.1 per cent to CHF 240 million - or 5.5 per cent of turnover. The group expects moderate market growth for the current year.