Hilti increases sales by over 5 percent by April – Liechtenstein
The Hilti Group increased its sales in the first four months of the current year by more than 5 percent to CHF 2.03 billion. In local currencies, growth was 9 percent compared to the prior-year period.
“The global supply bottlenecks, combined with massive price increases for raw materials, energy and transport have been exacerbated by the war in Ukraine and the current lockdowns in China. Against this background, our usual growth. However, the first four months have shown that 2022 will be a lot more demanding than last year,” explains Hilti CEO Christoph Loos in a statement on Tuesday.
Delayed Impact of the Ukraine War
In the Europe business region, the Hilti Group was able to increase sales in local currencies by 8.8 percent, in America the increase was 10.9 percent. Affected by the COVID-19 restrictions in Asian countries, Asia/Pacific only achieved slight growth of just over 1 percent. The Eastern Europe/Middle East/Africa region recorded an increase in sales of 15.4 percent, “since the effects of the war in Ukraine and the associated sanctions against Russia will only become apparent in the business results in the coming months,” the group continues to state .
The challenging market environment and the announced interest rate hikes would make an economic slowdown in the construction industry more likely. Nevertheless, the Hilti Group continues to expect double-digit sales growth in local currencies for the full year, primarily driven by price increases.