Hilti enjoys solid growth
The Hilti Group increased its sales in the first eight months of the year, with both operating results and net income growing significantly over the previous year. The Liechtenstein-based tool manufacturer expects single-digit growth rates for the full year.
The Hilti Group has announced that it increased sales in the first eight months of the year by 4.2 per cent to reach 3.91 billion Swiss francs. Operating results grew by 11.1 per cent to reach 506 million francs, and net income grew by 11.2 per cent to reach 365 million francs.
All market regions contributed to this growth. Latin America posted the strongest growth at 9.4 per cent in local currencies, followed by Europe and North America, with 7.1 per cent each.
“Due to political tensions at both the international and local levels, the economic climate has not grown any easier,” Hilti CEO Christoph Loos said. “Overall, the market dynamics have eased somewhat, which can be seen in the slight reduction of our growth rates.”
For the full year, Hilti anticipates an “increasingly volatile economic environment”. However, the company expects growth rates in both sales and profitability to be in the mid-single-digit range.