In Europe, sales growth in local currencies was 11.9%. In the Americas, the Hilti Group saw an increase in sales of 11.9% and the Asia/Pacific region posted double digit growth (+16.5%) as well. The Eastern Europe / Middle East / Africa region saw, as expected, a year on year sales decline of -2.3%. The appreciation of the Swiss franc against all major currencies led to a negative currency impact of 6.3 % points on sales growth.

“These results are in line with our expectations. While the overall supply chain situation is rapidly stabilising, the construction market outlook remains uncertain and varies in different parts of the world. Despite this uncertainty we continue with our long term investments to strengthen our company strategically,” explains CEO Jahangir Doongaji. At €485M, the operating result was 18.9% higher than in the previous year. Net income increased less noticeably to €369M (+17.1%), due to the appreciation of the Swiss franc and increased interest rates.

Following the particularly strong level of sales growth during the last four months of 2022, the Hilti Group expects the sales and operating result growth to come down by the end of the year, with sales growth levelling out at high single digits in local currencies.