In the first six months of 2019, the Würth Group reported sales increased 5.2% to EUR 7.2 billion (US$7.98 billion).

The sales volume of the companies outside Germany rose by 6.3%, with its Southern European companies posting the highest growth rates at 11.8%. In Germany, Würth sales grew 3.6% to EUR 3 billion.

Robert Friedmann, Chairman of the Central Managing Board, is optimistic about the second half of the year saying, “the construction sector is still going strong”.

At 13.8%, the Electrical Wholesale Unit reported the strongest growth among all units of the Group, partly attributable to acquisitions. In June, Würth agreed to acquire Grupo Electro Stocks S.L.U. (GES), one of the leading electrical wholesalers in Spain reporting sales of EUR 261.5 million in 2018. Organic growth of the business unit came to 6.5%.

First-half operating result of the Würth Group declined 15% to EUR 340 million.

“Our gross profit margin has come under pressure: We cannot fully pass rising purchasing prices on to our customers in the market,” stated central managing board chairman Robert Friedmann. “In addition, our continued high investments in the expansion of our business units have an impact on the result, yet they are a means to prepare the ground for future growth”

The number of employees increased by 747 to 77,827 in the first half of 2019. In Germany, the number of employees totals 24,044, increasing by 3.2%. The Group currently has 33,585 sales force employees on the payroll. Web: Würth.com