Over the first eight months of the current business year, the Hilti Group has posted sales growth of 7.8 percent in local currencies. Despite continued negative exchange rate effects, the Group has managed to increase both its operating result (+23.8%) and net income (+34.3%).
Compared to the corresponding period of the previous year, sales in Swiss Francs grew by 3 percent to CHF 2945 million. The difference in sales growth expressed in local currencies reflects the continued negative exchange rate effects, in particular in the emerging markets.
The most dynamic sales increase was recorded in Latin America where sales have grown by 17.3 percent in local currencies. Double-digit growth rates were also achieved in Eastern Europe / Middle East / Africa (+14.5%) and Asia/Pacific (+11.8%). In North America, sales were up 7.3 percent year-on-year. Europe has also posted single-digit sales growth (+4.7%) in a continued highly heterogeneous market environment.
Further progress with productivity enhancements resulted in a continued improvement of profitability. In the first eight months, the operating result increased by 23.8 percent to CHF 362 million. At CHF 272 million, net income was up 34.3 percent year-on-year.
The Hilti Group continued to expand its investments. Research and development expenditure grew by 16.3 percent (CHF 143 million), while headcount increased from 21,225 to 21,947 (+3.4%).
We are still operating in a very heterogeneous and volatile economic environment and the challenging exchange rate situation, particularly in emerging markets, continues to negatively impact our results, says CEO Christoph Loos. Against this backdrop we are pleased with our development and take important investments to prepare for future growth.
For the full 2014 business year, the Hilti Group continues to expect sales growth in the lower single-digit range and a significant increase of profitability.
About Hilti Group
The Hilti Group supplies the worldwide construction industry with technologically leading products, systems and services that provide construction professionals with innovative solutions and superior added value. The Group employs some 22,000 persons in over 120 countries who passionately create enthusiastic customers and build a better future. Hilti generated annual sales of CHF 4.3 billion in 2013. Hiltis corporate culture is based on integrity, teamwork, commitment and the courage to embrace change. The headquarters of the Hilti Group are located in Schaan, Principality of Liechtenstein.