The coronavirus pandemic has pushed Hilti sales down by 13 percent in the first four months of 2020 to below the equivalent value from the prior year. The tool manufacturer based in Schaan is also expecting sales declines across the full-year 2020 as well. The Group has introduced temporary countermeasures in response.

“After a good start to the year with mid-single-digit growth”, Hilti sales declined in the first four months of 2020 due to the effects of the Coronavirus pandemic, the Schaan-based tool manufacturer explains in a press release. In the Asia/Pacific region, which was affected as early as February, sales fell by 14.2 percent year on year to 212 million Swiss francs. From March onwards, all regions experiences sales declines, Hilti states. According to the Group, the “strong appreciation of the Swiss franc” has also had a negative effect on business development.
For 2020 as a whole, Hilti expects a “loss in sales of 10 percent in local currencies, and up to 15 percent in Swiss francs”, the press release explains further. The Group is therefore expecting a challenging quarter and slow recovery on the markets over the course of the second half of the year.
In its attempts to get a handle on the challenges presented by the pandemic, Hilti intends to avoid structural adjustments, instead opting to implement “a broad package of temporary measures”, the press release states. “The next few months will show whether this is sufficient or whether we will need to initiate a second stage of measures including structural adjustments”, comments Christoph Loos, CEO of Hilti, in the press release. His plan is, however, to stick to Hilti’s strategic orientation and continue to pursue important projects for the Group.

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