Würth Group: Good business development in the first half of the year
- Sales increased by 10.5 percent to EUR 4.2 billion
- Operating result nearly doubled compared to the same period under review of last year
- 59,577 employees worldwide (as of 30 June 2010)
The worldwide operating Würth Group, world market leader in its core business, the trade in assembly and fastening material, reported overall sales of EUR 4.2 billion in the first half of 2010. This corresponds to a sales increase of 10.5 percent compared to the same period of the previous year (9.3 percent adjusted for exchange rates).
“We succeeded in further boosting the upward trend experienced in the first four months of the year and showed double-digit growth during the first half-year”, Robert Friedmann, Chairman of the Central Managing Board of the Würth Group, describes the business development. “We are striving for a sales growth of eight percent for the overall year. Against the backdrop of the economic development in many countries outside of Germany we expect a less dynamic development than in the largest individual market of the Würth Group.”
Compared to the first half of 2009, the German Würth companies reported double-digit sales growth of 15.5 percent to EUR 1.8 billion. The international companies grew by 6.9 percent. At present, the Würth Group is represented with approx. 400 companies in 84 countries.
Group reports solid liquidity
The Group plans an operating result of more than EUR 350 million for the year and is well on the way to attain this goal. “With EUR 196 million in the first half of 2010, we almost doubled our operating result compared to the previous year.” states Mr. Friedmann. The Würth Group still boasts excellent liquidity and a high equity ratio of over 40 percent.
“Our good financial standing gives us the stability we need to operate in the market. Strategically, we are going to focus on everything that will help us to get closer to our customers in the months to come. We will invest in already existing business fields as well as innovative products. We still intend to supplement our organic growth with acquisitions”, says Mr. Friedmann.
In response to the upward trend the Würth Group started to hire new staff again in the first half of the year 2010: Compared to the end of 2009, the number of employees went up by 2.9 percent to a total of 59,577 - 29,104 of them work in the sales force. The Würth companies outside Germany have 42,927 employees on their payroll; the German companies report 16,650 employees.
Würth Group Germany
In Germany, the Würth Group reported highly pleasing results in the first six months of the year 2010: The sales growth compared to the same period of last year amounted to 15.5 percent (+ EUR 244 million). Mr. Friedmann explained that “one of the main driving forces behind sales growth in Germany was Adolf Würth GmbH & Co. KG”. The first and largest individual company within the Group increased its sales continuously over the year and closed the month of June with a sales record. In accumulated terms, Adolf Würth GmbH & Co. KG stepped up sales (including Group-internal sales) by 14.8 percent and has hired 75 employees since the beginning of the year. All in all, the German Würth companies have employed 489 people since the end of 2009.
With the beginning of the new training year the Würth Group will also employ trainees. Adolf Würth GmbH & Co. KG alone will hire 100 trainees.
On the Würth Group
The Würth Group is the world’s market leader in its core business, the trade in assembly and fastening material. It currently consists of around 400 companies in 84 countries and has more than 59,000 employees on its payroll. Over 29,000 of them are permanently employed sales representatives. In 2009, the Würth Group attained a sales volume of EUR 7.5 billion.
In the core business, the Würth Line, the sales range for trades and industry comprises over 100,000 products: From screws, screw accessories and anchors via tools to chemical technical products and personal protection equipment.
The so-called Allied Companies operate under their own name in diversified business fields and markets adjacent to the core business. They sell for instance products for DIY stores, material for electrical installations, electronic components (e.g. circuit boards), financial services and solar modules. They generate approximately 42 percent of the Würth Group’s sales volume.