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Würth Group Sets a New Sales Record in 2023
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2024-02-17
The Würth Group, the global market leader in the development, production and sale of assembly and fastening materials reported annual sales of more than EUR 20 billion for the first time in its corporate history according to its preliminary financial statements on the 2023 fiscal year. Despite the tense global economic and political situation, the Group was able to grow again, even though the difficult conditions had an impact on the operating result. Sales grew by 2.4 percent. Adjusted for currencies, sales growth came out at 3.5 percent. The operating result is expected to remain below last year’s result at EUR 1.4 billion (2022: EUR 1.6 billion), the second-best result in the history of the Group.
“Given the cooling global economy, we are satisfied with the past fiscal year. The sales mark of EUR 20 billion is a special milestone for us. We were able to double our sales volume over the past nine years,” said Robert Friedmann, Chairman of the Central Management Board of the Würth Group. “Last year, the Group’s heterogeneous structure across different industries and regions and our business model were once again the basis of our success. The construction sector, an important industry for the Würth Group, showed a slow sales development, which could be compensated for by other strategic business units such as the Electrical Wholesale unit.”
In addition to the ongoing conflict between China, Taiwan, and the US, the wars in Ukraine and the Middle East, inflation-driven cost increases, especially for energy and raw materials, and high lending rates that hampered demand in the construction industry also had a negative impact on the result.
“Achieving these results in such an environment shows that our more than four million customers greatly appreciate our products and services. They trust us and that is our most important objective. The Würth Group has proven in the past that it can overcome major challenges successfully. The solidarity of our employees and the support of the family, especially by Prof. Reinhold Würth and Bettina Würth, give us the necessary stability,” emphasized Robert Friedmann.
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