Hilti sees profitable growth
21 September 2023 11:50
Hilti Group has recorded global sales amounting to 4.31 billion Swiss francs in the first eight months of this year. This corresponds to year-on-year growth of 11.3 percent according to a press release from the tool manufacturer based in Schaan. Appreciation of the Swiss franc against Hilti’s main currencies resulted in a negative currency impact of 6.3 percentage points. Thus, the growth amounted to 5.0 percent in Swiss francs.
The operating result of 466 million Swiss francs was 18.9 percent higher than the same period of the previous year. Net income also increased disproportionately to sales by 17.1 percent to 335 million Swiss francs. However, Hilti anticipates weakening of the levels of increase in operating result and sales by the end of the year.
CEO Jahangir Doongaji commented in the press release: “These results are in line with our expectations. While the overall supply chain situation is rapidly stabilizing, the construction market outlook remains uncertain and varies in different parts of the world.” He added that the group would continue with its long-term investments to strengthen the company strategically. ce/hs