Manufacturer of power tools and surveying equipment Hilti has reported a strong start to 2016, and said it was optimistic for the full-year.
The company reported total revenues for the period from January to April 2016 of CHF1.5 billion (€1.4 billion), up 7.2% year-on-year. The lion’s share of the company’s revenues are generated in Europe, where sales were up 9% year-on-year for the period to CHF727 million (€656 million).
In North America, the company reported a 15% jump in revenues for the period to CHF367 million (€331 million), while Hilti reported 1% growth from the Asia Pacific region to CHF209 million (€109 million) and 1.3% growth in Eastern Europe, the Middle East and Africa to CHF161 million (€145 million).
However, in Latin America, Hilti reported a 22% year-on-year drop in revenues to CHF36 million (€32 million). The manufacturer said the market here had been hit by persistent political tensions and the dependence on commodity prices.
CEO Christoph Loos said, “Our extensive investments over the past two years have set the stage for outperforming the market even under volatile economic conditions and giving us confidence for significant sales growth in 2016. This confirms our forward strategy and we will invest further in selected growth initiatives.”