Hilti Group, headquartered in Schaan, Liechtenstein, has reported that sales in the first four months of 2016 were up 7.4% (in local currencies or 7.2% in Swiss Francs) compared to the same period of last year. The company cited its continued investments in sales, products and new services as having had a positive effect on the business performance.
“Our extensive investments over the past two years have set the stage for outperforming the market even under volatile economic conditions and giving us confidence for significant sales growth in 2016. This confirms our forward strategy and we will invest further in selected growth initiatives,” stated Hilti’s CEO Christoph Loos.
Hilti reported that while business in the most important industrial countries was generally positive, many emerging economies were facing political and economic challenges. North America continued to post double-digit growth at 12.5% in local currencies as a result of the high level of construction activity. With sales growth at 7.8%, Europe has also shown robust performance. Conversely, the regions of Eastern Europe, Middle East, Africa (+6.4%) and Asia/Pacific (+1.4%) have fared less favourably. As a result of persistent political tensions and the dependence on commodity prices, the situation in Latin America continues to be challenging (-8.9%), the company stated.