Industry News

Despite the tense global economic and political situation, Würth Group was able to grow again, even though the difficult conditions had an impact on its operating result.

Würth Group reported annual sales of more than €20 billion for the first time in its corporate history, according to its preliminary financial statements on the 2023 fiscal year. Adjusted for currencies, sales growth came out at 3.5%. The operating result is expected to remain below last year’s result at €1.4 billion (2022: €1.6 billion), the second best result in the history of the Group.

“Given the cooling global economy, we are satisfied with the past fiscal year. The sales mark of €20 billion is a special milestone for us, as it shows we were able to double our sales volume over the past nine years,” says Robert Friedmann, chairman of the central management board of Würth Group. “Last year, the Group’s heterogeneous structure across different industries and regions, and our business model, were once again the basis of our success. The construction sector, an important industry for Würth Group, showed a slow sales development, which could be compensated for by other strategic business units, such as the Electrical Wholesale unit.”

The ongoing conflict between China, Taiwan, and the USA; the wars in Ukraine, and the Middle East; inflation driven cost increases –
especially for energy and raw materials; and high lending rates; all hampered demand in the construction industry, which also had a negative impact on the result.

“Achieving these results in such an environment shows that our more than four million customers greatly appreciate our products and services. They trust us and that is our most important objective. The Würth Group has proven in the past that it can overcome major challenges successfully. The solidarity of our employees and the support of the family, especially by Prof Reinhold Würth and Bettina Würth, give us the necessary stability,” emphasises Robert Friedmann.