Hilti strives to lead transformation of the construction industry
17 March 2023 11:41
At the start of 2023, Hilti launched its new strategy “Lead 2030”, further details of which can be found in a press release issued by the global construction machinery manufacturer based in Schaan. This is designed to put Hilti in a position to lead the transformation of the construction industry. To achieve this, the business group will continually invest in product innovations moving forwards.
In the 2022 financial year, Hilti increased its expenditure in the area of research and development by +17.2 percent year on year to 437 million Swiss francs. In the same year, the construction machinery manufacturer also completed “the largest product launch in the company's history”, the press release states. In specific terms, the new battery platform Nuron, which covers more than 70 tools, was launched on the market.
The increased investments, in tandem with higher costs and a strong Swiss franc, have had a negative impact on Hilti’s profits. At 731 million, the operating result for 2022 was down -13.7 percent versus the prior year. At the same time, net income decreased by -16.3 percent to come in at 565 million Swiss francs. In contrast, global sales grew by +10.0 percent in local currencies to stand at 6.35 billion Swiss francs.
In the press release, CEO Jahangir Doongaji describes 2022 as “a challenging year” that has “inevitably left its mark” on the company’s profitability. “Nevertheless, we were able to achieve our sales target in local currencies. At the same time, we continued to invest massively into the future of our company”, he concludes. hs