The Hilti Group is on track to achieve its goals for 2015 despite the strong Swiss franc. In the first eight months of 2015, the Hilti Group has grown sales in local currencies by 4.9 per cent, although sales in Swiss francs decreased by 3.2 per cent.
With a view to its main markets, North America is doing particularly well. Although growth is only satisfactory in Europe, we do see further upside potential here, says Hilti CEO Christoph Loos in a news release.
Sales grew by 4.9 per cent in local currencies in the first eight months of 2015 in all market regions. Due to solid activity in the construction sector, sales in North America rose by 8.4 per cent. The negative effect of the exchange rate caused sales in Swiss francs to drop slightly by 3.2 per cent from CHF 2,936 million to CHF 2,842 million.
The strong franc also reduced the companys operating result by 8 per cent and its net income by 12.3 per cent. Nevertheless, Hilti has used its sound financial basis to undertake further investments in the areas of distribution, product development and services, writes Hilti. Accordingly, R&D spending grew by 6.3 per cent to CHF 152 million year-on-year, while headcount increased by 3.8 per cent to 22,780. Loos expects that the company will be able to keep both operating result and net income at approximately the same level as last year.