Hilti posts higher 2013 sales despite difficult market conditions in Europe
January 20, 2014
Figures published by Hilti Group, headquartered in Schaan, Liechtenstein, show an overall increase in sales during 2013 of 4.5% compared to the previous year (for sales in local currencies). Expressed in Swiss Francs this equates to a sales increase of 3.2%, to a total of CHF 4,340 million.
At 3.2%, sales growth for the whole of 2013 was in the expected lower single-digit range, stated the group. Total sales for Europe in local currencies were down 1.1% from 2012. While the Hilti Group continued to grow in Central and Northern Europe, conditions in Southern Europe remained difficult.
In North America, sales were up 2.8%. Sales in Emerging Markets continued to grow at a high pace, with the regions of Eastern Europe / Middle East / Africa (+14.3%), Asia/Pacific (+17.3%) and Latin America (+17.9%) posting double-digit growth rates. Converting to Swiss Francs, however, sales growth in these regions was severely impacted by strongly negative exchange rate effects.
“Considering that the situation in Europe continues to be difficult, we are quite satisfied with our moderate growth performance,” stated Christoph Loos, Hilti’s new CEO. “We are well on track with our initiatives and we have used the past year to again significantly improve the company’s profitability.”
