Over the first four months of 2024 the Hilti Group recorded sales growth of 2.9% in local currencies compared to the same period of the previous year. Translated into Swiss francs, sales declined by 1.8% to CHF 2103 million, resulting from an ongoing significant negative currency effect.
Jahangir Doongaji, CEO at Hilti, explains: “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.”
Although the Swiss franc has weakened against the euro and the US 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% in local currencies, with southern Europe being the only region to escape this downward trend. The Americas increased sales by 2.6%, 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%. The eastern Europe / Middle East / Africa region also remained on the growth track (+16%).
For 2024, the company anticipates sales growth in the low to mid-single-digit range in local currencies.
Having spent a decade in the fastener industry experiencing every facet – from steel mills, fastener manufacturers, wholesalers, distributors, as well as machinery builders and plating + coating companies, Claire has developed an in-depth knowledge of all things fasteners.
Alongside visiting numerous companies, exhibitions and conferences around the world, Claire has also interviewed high profile figures – focusing on key topics impacting the sector and making sure readers stay up to date with the latest developments within the industry.
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