Strong start to 2014 for Hilti

Manufacturer Hilti has said revenues for the four months from January to April, 2014, grew 4.8% to CHF1.44 billion (€1.17 billion), fuelled by increases across all its geographical regions.

In Europe – the largest division by revenues – sales were up 7.4% year-on-year for the period to CHF735 million (€601 million). Hilti said southern Europe had shown signs of a slight recovery, but added that there was as yet no indication of stable growth.

Meanwhile, in North America, revenues were up 2.1% to CHF286 million (€234 million). Hilti said its business in this region had been “severely impaired” in the first few weeks of the year as a result of unusually harsh winter conditions.

But despite the positive start to the year, Hilti noted that revenue growth for the period had been held back by negative exchange rate effects, particularly in emerging markets.

In Latin America, for instance, revenues dropped 2.6% year-on-year for the period to CHF53 million (€43 million), but Hilti said that in local currency terms, the region actually saw growth of 15.3%.

Similarly in the Asia Pacific, revenues were up 5.7% to CHF198 million (€162 million), but growth in local currency terms was 18.2%. In Eastern Europe, the Middle East and Africa, revenues stood at CHF164 million (€134 million), stable year-on-year, but up 12.7% in local currency terms.