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Essay by Prof. Dr. h. c. mult. Reinhold Würth
I have described the preceding year in many past annual reports. Finding the right words for the current fiscal year and commenting on the corresponding global situation has never been as difficult for me as it is now for 2024.
On the one hand, my employees and I can be grateful that the past year ended on a fairly positive note, with sales almost on a par with 2023, although we did have to accept a 35.4 percent decline in our operating result. Despite the difficult environment, the Group’s equity increased by more than EUR 400 million during the 2024 fiscal year.
In my opinion, this is a respectable result, and right at the start I would like to thank our customers all over the world, as well as all our employees: the customers for their loyalty, in some cases for many decades, and our employees for their tireless efforts to make Würth a service provider in the truest sense of the words, for the benefit of our customers.
On the other hand, if we turn our attention to politics and the economy in general, humanity is entering the new year with grave concerns: What will it bring? Politics and business are inseparable: At the time of writing this text on 14 January 2025, the inauguration of Donald Trump as President of the USA is imminent, and in Germany we have early federal elections in February 2025. The wars in the Middle East and Ukraine continue with a vengeance, and the question is which way fate will turn: Will we see President Trump’s promise to end the war in Ukraine within a short period of time fulfilled, or will the division of the world into the large blocs of the USA versus China/Russia/Iran intensify?
The authors have chosen “COURAGE” as the overall theme for this annual report. This is a leitmotif that I am more than happy to endorse because this is not the time for despondency, anxiety, or cutbacks. From the very outset, the Würth Group’s DNA has been characterized by an optimistic, solid, and pro-active approach, as well as an ability to celebrate the success that this approach brings.
In Germany, public sentiment is at an all-time low due to the economic recession. One does not even require Immanuel Kant’s categorical imperative to see how a mixture of news, fake news, propaganda, and even outright lies is influencing the mood and voting behavior of many citizens.
My deepest wish is that there will be peace on Earth again, that every sensible person will maintain their common sense and not just focus on the negativism but above all reflect on what our parents and grandparents have built up and established in the 75 years of the Federal Republic of Germany.
I can look back on the entire period myself—as I approach 90—and I remember how the whole country was characterized by a highly optimistic spirit of renewal and recovery in the first decades after the Second World War:
People worked, even toiled, to rebuild the destroyed cities, roads and highways were developed, and everyone was grateful for their newly-acquired democratic freedom. People were happy to follow Kant’s imperative without question: “Act only according to that maxim whereby you can at the same time will that it should become a universal law.” The authors of the Basic Law for the Federal Republic of Germany followed precisely this approach. The popular Golden Rule is even simpler: “Do unto others as you would have them do unto you!”
And today? If I compare the mood in the 50s and 60s of the last century with today, I am simply astounded: Back then, there was a spirit of optimism and all kinds of positivity. Today, it is exactly the opposite with all kinds of negativity and mutual hostility: not only attacks with shaving foam cakes in the face of FDP Chairman Lindner, but also attacks on the Christmas market in Magdeburg with fatalities, and attacks on fellow humans of other ethnicities, more pay, less work.
There is a general political trend toward the right: constant criticism, agitation, and spreading of apocalyptic visions of the future. WHAT A DIFFERENCE IN THE MOOD OF THE POPULATION.
Let us not forget that Germany is one of the wealthiest countries in the world, with the lowest working hours per week, but also with an incredibly high sick leave rate. The head of Mercedes Benz reports that employees at his German plants are sick twice as often as at foreign plants. Why is that?
Years ago, Switzerland held a referendum on whether the citizens wanted to work less per week?! Remarkably, the Swiss citizens voted AGAINST the reduction in working hours. More recently, there was a referendum in Switzerland on the question of whether annual leave should be increased from four to six weeks. Here too: The population rejected the increase in leave. One wonders how such votes would have turned out in Germany?? ☺
Hence my question to the citizens of Germany in general: Do we perceive our job as a precious commodity, and are we happy to be able to go to work fully motivated the morning? Are we eager to see how our company progresses, achieves success, invests, innovates, and renovates, and do we realize that the company is (also) a source of joy?? Do we see our professional tasks as a meaningful part of our lives, not only for our own benefit, but also to help advance the economy in our respective countries?
Are we managing to find the right work-life balance? I am the last person who would want to overburden employees. Perhaps we should ask our doctor or pharmacist whether it might be beneficial to help shape our workplace as a place of joy, fun, and optimism to counteract apathy and feelings of hatred, so that depression and psychosis can be cured quickly in many cases? ☺
Dear readers, this is certainly a somewhat unusual message, but perhaps I can give you some food for thought. Our vernacular is so wonderfully clear. Everyone knows the expression: “Idleness is the root of all evil!”
Nevertheless, dear ladies and gentlemen, dear readers and employees, I wish you a blessed year in 2025 and I remain very gratefully, modestly, and humbly
Yours,
Honorary Chairman of the Supervisory Board of the Würth Group
Greeting by Benjamin Würth
It was with deep gratitude and great motivation that I took over the position of Chairman of the Supervisory Board of the Würth Group from my grandfather on 1 January 2025. I would like to thank you all for the trust you have placed in me, and I look forward to the new challenge.
Although we are currently in an uncertain economic environment, we can take comfort in the fact that we have achieved solid financial results, and we were also able to make significant progress and advance important projects together in 2024. We have our more than 88,000 employees worldwide to thank for this. Each and every one of them has made a decisive contribution to our success. I would also like to express my appreciation to our customers and all our business partners, who have placed their trust in us even in these difficult times.
The year 2025 is a special year for the Würth Group as we are celebrating our 80th anniversary. The number 80 symbolizes consistency and success in many cultures, and it is a testament to the hard work and dedication of everyone involved that we have been able to reach this significant anniversary.
For me personally, 2025 is also a very special highlight as my grandfather is celebrating his 90th birthday. Not only has he made the Würth Group what it is today, but he is also a unique person. He continues to inspire me and many others around him to do our best—and even more.
We should all celebrate these special occasions properly and remind ourselves of how important it is to remember our roots and at the same time look ahead. With this in mind, I look forward to shaping the future together with you and wish you all the best!
Kind regards,
Chairman of the Supervisory Board of the Würth Group
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