The Hilti Group reported sales increased 10.7% to CHF 5.6 billion (US$5.64 billion). In local currencies, sales grew 9.8%.

“2018 was an important year for the Hilti Group,” stated CEO Christoph Loos. “We made substantial investments into innovations, market reach and our infrastructure, laying the foundation for long-term profitable growth. With double-digit sales growth, we have reached our goal.

“However, due to the continuing global trade tensions, we see a reduction in growth dynamic.”

In Europe, Hilti sales grew 14.2% to CHF 2.81 billion. “The only exception here was in the United Kingdom, where Brexit is creating uncertainties in the construction industry,” the company added.

North America sales increased 9.7% to CHF 1.33 billion, while Latin America continued its upward swing with an 8.6% sales increase to CHF 129 million.

In Asia, sales grew 7% to CHF 741 million.

Sales in Eastern Europe / Middle East / Africa grew sales 9.3% to CHF 649 million despite “challenges in countries like Turkey, Russia and Saudi Arabia.”

Hilti Group will published detailed 2018 results on March 15. Web: Hilti.com