Press release -
HILTI GROUP continues growth in a Challenging environment
Schaan (FL), May 17, 2024 – Over the first four months of 2024 the Hilti Group recorded sales growth of 2.9 percent in local currencies compared to the same period of the previous year. Translated into Swiss francs, sales declined by 1.8 percent, to CHF 2103 million, resulting from an ongoing significant negative currency effect.
“Construction activity in Europe has slowed down significantly, while in other parts of the world, such as Asia or Latin America, we still see some market growth. We are confident that our robust global footprint will enable us to outperform the market,” explained CEO Jahangir Doongaji.
Although the Swiss franc has weakened against the euro and the U.S. dollar in recent weeks, the negative currency effect on sales remains significant and amounts to -4.7 percentage points for the first four months of the current year.
The sales development in the business regions varies strongly. Europe recorded a slight growth of 0.5 percent in local currencies, with Southern Europe being the only region to escape this downward trend. The Americas increased sales by 2.6 percent, primarily driven by double-digit growth in Latin America. The Asia/Pacific region took advantage of an improved market environment to increase sales by 6.7 percent. The Eastern Europe / Middle East / Africa region also remained on the growth track (+16.0%).
For 2024, the company anticipates sales growth in the low to mid-single-digit range in local currencies.
Sales growth from January-April 2024 compared to the previous year | ||||
1-4 2024 in CHF million | 1-4 2023 in CHF million | Change in CHF (%) | Change in | |
Europe | 1,082 | 1,112 | -2.7 | 0.5 |
Americas | 600 | 610 | -1.6 | 2.6 |
Asia/Pacific | 254 | 258 | -1.6 | 6.7 |
Eastern Europe / Middle East / Africa | 167 | 162 | 3.1 | 16.0 |
Hilti Group | 2,103 | 2,142 | -1.8 | 2.9 |
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The Hilti Group supplies the worldwide construction industry with technologically leading products, systems, software and services. With about 32,000 team members in over 120 countries the company stands for direct customer relationships, quality and innovation. Hilti generated annual sales of more than CHF 6 billion in 2023. The headquarters of the Hilti Group have been located in Schaan, Liechtenstein, since its founding in 1941. The company is privately owned by the Martin Hilti Family Trust, which ensures its long-term continuity. The Hilti Group’s strategic orientation is based on a caring and performance-oriented culture and the goals of creating enthusiastic customers and building a better future.