Schaan (FL), January 25, 2023 – Amid a volatile environment, the Hilti Group increased sales by 10.0 percent in local currencies in 2022. This resulted in sales of more than CHF 6.3 billion and corresponds to an increase of 6.2 percent in Swiss francs.
The strongest sales growth, 16.5 percent in local currencies, was recorded by the Americas region. Europe achieved an increase of 9.6 percent. In Asia/Pacific, growth was 8.2 percent, significantly slowed by the impact of COVID-19 restrictions in China. As expected, the war in Ukraine and the corresponding sanctions against Russia resulted in a decline in sales for the Eastern Europe / Middle East / Africa region (-2.3%).
The Swiss franc continued to appreciate against most currencies, the U.S. dollar being one exception. Overall, there was a negative currency effect on sales of 3.8 percentage points.
“The last four months of the 2022 business year remained challenging, but we could nonetheless accelerate growth and were thus able to close the year with double-digit growth in local currencies. The launch of our new Nuron battery platform in North America and Europe was one important growth driver,” concluded CEO Jahangir Doongaji.
The environment is expected to remain volatile given continued inflation and increasing interest rates, ongoing geopolitical tensions and a softening economic growth. Benefiting from significant investments in market reach and innovation, the Hilti Group expects a high single-digit growth, in local currencies, for 2023.
