Colombo, Sri Lanka – February 19th, 2024 – The Würth Group, a global leader in assembly and fastening materials, has achieved a historic milestone with annual sales exceeding EUR 20 billion for the first time in its corporate history, according to its preliminary financial statements for the 2023 fiscal year. Despite global economic and political challenges, the Group experienced growth, with sales increasing by 2.4 percent, reaching 3.5 percent when adjusted for currencies. The operating result is expected to be EUR 1.4 billion, marking the second-best result in the Group’s history.
“The sales milestone of EUR 20 billion is significant for us, representing a doubling of our sales volume over the past nine years,” stated Robert Friedmann, Chairman of the Central Management Board of the Würth Group. He credited the diverse structure across different industries and regions, along with the resilient business model, for the success. Challenges such as ongoing global conflicts, inflation-driven cost increases, and high lending rates affecting the construction industry had a negative impact on the results. Despite these hurdles, the Würth Group demonstrated its ability to overcome major challenges successfully, thanking the loyalty and support of over four million customers and acknowledging the stability provided by employees and the Würth family.
In Germany, Würth companies experienced positive development, generating sales of EUR 8.3 billion, a growth of 5.6 percent. Internationally, companies outside Germany reported sales of EUR 12.1 billion (+0.3 percent). Notable sales growth was observed in various business units, with Würth Line Craft and the Chemicals unit of the Allied Companies reporting growth of 3.4 percent and 7.5 percent, respectively. The Electrical Wholesale unit stood out with a remarkable 10.0 percent growth, contributing significantly to the overall development of the Würth Group.
E-business sales continued to flourish with a growth of 10.4 percent, reaching EUR 4.6 billion, constituting 22.4 percent of total sales.
2024 also saw a transition of leadership with Suranga Kekuluwalge assuming the role of CEO of Würth Lanka (Pvt) Ltd, succeeding Managing Director Rohan Amirthaiah, who will continue in his role until the end of 2024. Under Amirthaiah’s leadership, Würth expanded its presence in Sri Lanka, becoming a leading supplier of cutting-edge German technology. The company recently celebrated its 25-year milestone at Hilton Colombo Residences, with Mr. Christian Oleson, Group Senior Vice President South and Southeast Asia, as a special guest.
Würth Lanka (Pvt) Ltd also proudly maintained its Premier Gold Partnership with the Delegation of German Industry and Commerce Lanka (AHK Sri Lanka) for the second consecutive year in the financial year 2022/3. AHK Sri Lanka provides professional advice and support for companies from Germany and Sri Lanka for successful business establishment and expansion.