Press release -
STRONG GROWTH IN A CHALLENGING ENVIRONMENT
Schaan (FL), January 25, 2024 – With sales growth of 9.0 percent in local currencies, the Hilti Group outperformed the market. In Swiss francs, growth reached 2.7 percent, reflecting a significantly negative currency impact. The Group’s total 2023 turnover was CHF 6.5 billion.
At a regional level, Europe managed to close the year with sales growth of 8.7 percent in local currencies, primarily driven by the strong contribution from Southern Europe. The Americas region grew by 9.1 percent, while Asia/Pacific was at 13.8 percent. China recovered slowly from COVID-19 lockdowns, while the rest of the region achieved solid growth rates. The ongoing war in Ukraine had an impact on the entire Eastern Europe / Middle East / Africa region, resulting in growth of 3.1 percent.
The continuous appreciation of the Swiss franc against all major currencies resulted in a negative impact of 6.3 percentage points on sales.
“Despite the ongoing economic and geopolitical uncertainties, we grew at a high single-digit rate in local currencies and, with that, outperformed our industry. We expect a further softening of the environment in 2024 but are well equipped to face this challenge and confident to continue our growth,” says CEO Jahangir Doongaji.
For 2024, the Hilti Group expects a mid-single-digit sales growth in local currencies with a significantly negative currency impact in Swiss francs.
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The Hilti Group supplies the worldwide construction and energy industries 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 2022. 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.
