Hilti Group, headquartered in Schaan, Liechtenstein, has reported sales growth of 7.8% (in local currencies) during the first eight months of its current business year. Despite continued negative exchange rate effects, the Group has posted an increase in 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% to CHF 2945 million (approximately €2442 million). The difference in sales growth expressed in local currencies reflects the continued negative exchange rate effects, in particular in the emerging markets, stated Hilti.
“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,” stated Christoph Loos, CEO. “Against this backdrop we are pleased with our development and take important investments to prepare for future growth.”
The most dynamic sales increase was recorded in Latin America where sales have grown by 17.3% (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% year-on-year. Europe has also posted single-digit sales growth (+4.7%).
The Hilti Group continued to expand its investments. Research and development expenditure grew by 16.3% (CHF 143 million), while employees increased from 21,225 to 21,947 (+3.4%).