Schaan (FL), September 26, 2024 – The Hilti Group reported sales growth of 1.9 percent in local currencies over the first eight months of the 2024 business year. Consistently negative currency effects impacted sales and resulted in a decrease of 1.1 percent in Swiss francs compared to the same period last year. The operating result grew by 4.9 percent, to CHF 489 million.
Business development over the first eight months of 2024 was largely influenced by a challenging market in Central and Northern Europe (+0.2% in Europe in local currencies). In the Americas, the Hilti Group recorded a slight increase of 1.2 percent. In Asia/Pacific the company was able to grow by 5.5 percent, while the Eastern Europe / Middle East / Africa region continued to grow strongly, at 11.0 percent.
“We expect the market environment to continue to vary strongly, from negative in our home market of Central Europe to positive in Asia/Pacific and the Middle East. With our business model, we can successfully navigate these uncertain times,” explains CEO Jahangir Doongaji.
The first eight months of the year were also characterized by significant ongoing currency volatility. Overall, this resulted in a negative currency effect on sales of -3.0 percentage points in Swiss francs.
Compared to the same period of previous year, the operating result improved to CHF 489 million (+4.9%). With an increase of 3.0 percent, net income totaled CHF 345 million.
For 2024, the Hilti Group expects low single-digit sales growth in local currencies.
