The Würth Group reports sales of EUR 10.5 billion in the first half of 2023. This corresponds to an increase of 5.9% compared to the same period last year. Adjusted for currencies, this is equivalent to 6.6%.
The Group remains on course for growth, albeit at a much slower pace than in the previous two years. "We feel the slowdown in the economy in the first half of 2023: After two years of record sales and operating result, the economic slowdown is becoming apparent," summarised Robert Friedmann, Chairman of the Central Management Board of the Würth Group.
After almost three years of the COVID-19 pandemic and related supply chain problems, the supply situation is improving for the Group. At the same time, interest rates remain at a high level, which, in turn, hampers the demand in the construction industry. Geopolitical challenges such as the smouldering conflict between China, Taiwan and the USA, as well as the war in Ukraine and the associated high energy prices influence the economic growth in Germany. "Against this backdrop, we are very satisfied with the development in the first half of 2023," emphasised Friedmann.
Social commitment is an integral element of Würth
"As a family business, we see it as our duty to grant support wherever possible. We want to live up to the Würth family’s commitment to ownership," said Friedmann on the voluntary commitment of roughly 100 Würth employees at the 2023 Special Olympics World Games, the world’s largest inclusive sports event, in Berlin. The Würth volunteers supported the competitions soccer, futsal and beach volleyball. As presenting partner, Würth also represented the beach volleyball competition with its logo. The commitment to people with disabilities is based on an initiative of Carmen Würth.
Outlook for the second half of the year
It is currently difficult to predict how the many conflict hotspots and their consequences such as high energy prices will affect the Würth Group. Even though the German economy is weakening, the global economy is slowly recovering according to the Organisation for Economic Co-operation and Development (OECD). "On a positive note, the transport markets have clearly recovered and the COVID-19 pandemic is not as prevalent as before. In general, it can be said that supply chains have stabilised significantly again, which means that availability has almost reached the pre-crisis level. Procurement prices, which are still well above the pre-crisis level, remain problematic. Provided conditions do not deteriorate drastically, we expect mid-single-digit sales growth and a slight decline in operating result," Friedmann said.
The next Press Conference on the Annual Financial Statements of the Würth Group will take place on 14 May 2024.
