Hilti Sales Up for 1st Eight Months of 2010
10/3/2010 3:36:00 PM
Hilti Sales Up for 1st Eight Months of 2010
Hilti Group sales rose 5.6% for the first eight months of 2010, compared with the same period the previous year.
The sales growth was set back by the rise in value of the Swiss franc. In Swiss francs sales rose by 2.5% to CHF 2,583 million (US$2.646m).
Schaan, Liechtenstein-based Hilti attributed the sales growth to new products and new areas of business. Especially successful was fastening systems for photovoltaic panels with the acquisition of U.S.-based Unirac.
Asian and Latin American sales also grew, while Europe, the Near/Middle East and Africa “the picture remains mixed,” according to the company.
The North American sales decline has stopped and even is showing slight growth.
Profits also reversed. Operating profit rose 223% to CHF 2,583 million (US$2.646m). Net profit rose 132% to CHF 54 million (US$55.3m).
Total employment rose slightly to 19,977.
“We have made very good headway with implementation of our stabilizing measures introduced in 2009 and assume that sales will continue to grow over the coming months,” CEO Bo Risberg said.
“These positive trends, however, must not be allowed to conceal the fact that, in many countries, the volume of construction relevant to us is still showing a decline and economic recovery in several markets remains slow.”
Founded in 1941 by Martin Hilti, the company supplies the global construction industry with screw fastening systems, anchoring systems, direct fastening, measuring systems, drilling, diamond cutting, firestop and foam systems and other products. Web: hilti.com ©2010 GlobalFastenerNews.com
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