Würth Group achieved a new sales record in 2019, rising 4.8% to reach €14.27 billion (2018: €13.62 billion).
The growth came from a diverse range of sources. Within Germany, sales growth was 2.1%, hampered by the struggling automotive industry. The car market also affected Würth's Elektronik Group and manufacturing and tool trading companies, which reported declining sales. Conversely, Adolf Würth GmbH was able to report growth of 5.8%.
Outside Germany, sales growth reached 6.8%. Southern Europe reached 15.3% (4.9% adjusted for acquisitions), while Eastern Europe hit 6.6% and South America was at 8%.
Electrical Wholesale companies grew at double-digit rates, thanks in part to the acquisition of Spanish electrical wholesaler Grupo Electro Stocks.
E-business sales saw above average growth, at €2.6 billion, increasing their share in overall Group sales to a significant 18.3%.
The operating result for the Künzelsau-headquartered group fell 13.8% to €750 million (2018: €870 million) due to gross profit margin pressure and Würth avoiding passing on all the burden of increased purchasing prices to customers.
Employee numbers rose 1,606 to 77,686, with 24,344 in Germany (an increase of 2.4%).
“The general economic forecasts remain cautious, which is why the Würth Group expects mid-single-digit sales growth and an operating result increasing proportionally to this,” said Robert Friedmann, Chairman of the Central Managing Board of the Würth Group. "Certainly, any political tensions and tariff disputes are disruptive factors, as they have strong repercussions on foreign trade and thus exports. This is where we have to pool our forces to still be able to grow despite these adverse conditions.”
The aforementioned Adolf Würth GmbH, saw a sales record of more than €2 billion and sales volume of €2.09 billion. Norbert Heckmann, Chairman of the Management of Adolf Würth GmbH & Co. KG, said: “There’s no better motivation for our anniversary year in 2020: Adolf Würth GmbH & Co. KG will have its 75th company anniversary and Professor Würth will turn 85—what a magnificent present!”
Last year, Würth North America acquired Fasco Fasteners.
