Hilti see 2012 growth thanks to North America

Growth in North America and other regions of the world helped Hilti increase its 2012 revenues by 4.4% (in local currencies) to CHF4.2 billion (€3.36 billion), although continued weakness in Europe saw sales drop in the region by 1.9% to CHF 2.14 billion (€1.71 billion).

Hilti, which is based in Liechtenstein and makes a wide range of power tools, drills, measuring equipment and fastening and anchoring systems, said its European sales were up in central and northern Europe but down in southern Europe. Europe represents 51% of total group sales.

Much brighter was its performance in North America, its second most important region, where sales rose by 13.4% (in dollars) to CHF858 million (€686 million). That was equivalent to a 20.5% increase in Swiss currency.

Revenues rose by 32.4% to CHF 156 million (€125 million) in Latin America and by 9.5% in Asia Pacific. Also seeing a good increase was Eastern Europe, the Middle East and Africa, where revenues were up 8.9% to CHF 491 million (€393 million).

“We achieved good results in light of a market environment that failed to improve,” said Hilti’s chief executive officer, Bo Risberg.

“Compared to the previous year the growth rates eased somewhat as the year progressed. This was due both to the ongoing negative trend in Europe and to the higher sales levels prevalent over the second half of 2011.”

In its statement Hilti did not report any profit figures for the year or comment on its expectations for 2013. The company will announce its detailed results for 2012 at its annual results conference in Zurich on 8 March, 2013.