Hilti sales exceed pre-pandemic levels
By Belinda Smart27 January 2022
Hilti Group achieved total sales of CHF 6 billion in 2021, (€5.7 billion),12.1% above the previous year’s level, with double digit sales reflecting continued recovery.
In a release announcing the result, CEO Christoph Loos said it reflected that the “recovery trend in the construction industry continued during the last four months of 2021.”
“We were able to maintain double-digit growth in a relatively stable currency environment and fully compensate for the coronavirus-related decline in sales of the previous year.
“This has allowed us to close the year well above the pre-crisis level in local currencies,”
In Europe, sales increased by 13.8% in local currencies.
The Mediterranean countries, in particular, experienced an improved environment.
Meanwhile the Eastern European countries were the key contributor to an increase of 12.3% in the Eastern Europe / Middle East / Africa region.
The company said that “due to ongoing challenges, the Gulf States fell short of expectations,” while Turkey’s currency devaluation had a negative impact.
The Americas also generated double-digit growth of 10.5%, with Latin America posting disproportionately high gains.
In Asia/Pacific, sales increased by 8.9%. Southeast Asia, in particular, still had to contend with severe Covid-19-related restrictions.
“Despite Covid-19, ongoing challenges in the global supply chain and current political tensions, the Hilti Group expects a positive development in the construction industry in 2022 and is once again targeting double-digit sales growth.”
Hilti Group made a key acquisition in late 2021. It also made succession appointments and maintained investment in research and development throughout the pandemic.