Results rise at Hilti

Manufacturer Hilti has reported increased revenues and income year-on-year for the eight months to August, fuelled by growth from all its business regions.

The company, which produces a wide range of power tools, surveying technology and other equipment, reported a 3% rise in revenues to CHF2.95 billion (€2.37 billion).

It said negative exchange rate effects held back the overall growth figure between January and August.

In Europe, Hilti’s largest business segment by region, revenues were up 3.7% year-on-year to CHF1.46 million (€1.21 billion). North American sales were up 1.4% to CHF600 million (€497 million), while Latin American sales grew 2.7% to CHF115 million (€95.3 million).

Asia Pacific sales increased 3.2% to CHF414 million (€343 million), and revenues from Eastern Europe, the Middle East and Africa were up 2.9% to CHF354 million (€293 million).

Net income jumped 34.3% to CHF272 million (€225 million). Hilti said further progress with productivity enhancements had resulted in a continued improvement of profitability.

The company added that it invested CHF143 million (€118 million) in research and development over the period, up 16.3% compared to the same eight months in 2013.

CEO Christoph Loos said the company was still operating in a very volatile economic environment with a challenging exchange rate situation, particularly in emerging markets.

“Against this backdrop we are pleased with our development and take important investments to prepare for future growth,” he said.

For the full 2014 business year, Hilti said it expected sales growth in the lower single-digit range and a significant increase of profitability.