Würth Group closes 2022 fiscal year with EUR 19.95 billion in sales
- Operating result increases to EUR 1,500 million
- Group employs 85,637 people worldwide
- Confident for 2023 despite crises, end of material shortages in sight
The Würth Group, the global market leader in the development, production and sale of assembly and fastening materials, once again proved its competitive strength and stability in the 2022 fiscal year: The globally operating Group based in Künzelsau, Germany achieved new record results. According to the preliminary annual financial statements, the Group's annual sales of EUR 19.95 billion are well above the previous year’s figure (2021: EUR 17.06 billion), corresponding to growth of 16.9 percent. Adjusted for currencies, sales grew by 15.1 percent. The operating result rose from EUR 1,270 million in 2021 to EUR 1,500 million in 2022.
“We are operating in difficult economic and political conditions: The war in Ukraine, material and supply shortages, and price increases continue to be challenging. I would therefore like to thank our more than four million customers worldwide for their trust in our services and our suppliers for their cooperative partnership. At the same time, we can rely on the strength of our corporate culture, the solidarity of all employees and, of course, the support of a family business in times of crisis. This gives us the necessary stability,” said Robert Friedmann, Chairman of the Central Management Board of the Würth Group.
Electrical Wholesale, Electronics and the Industry Division of the Würth Line are growing above average
The sales volume of the Würth Group in Germany increased to EUR 7.85 billion (2021: EUR 6.94 billion). The Würth companies outside Germany generated EUR 12.10 billion (2021: EUR 10.12 billion).
The Electrical Wholesale unit was particularly successful, reporting growth of 25.0 percent. Service leadership, a very high level of product availability combined with above-average logistics expertise are the reasons for this very good development. In addition, this sector benefited from the renewable energy boom. The Electronics Group, selling passive electronic components, circuit boards and electronic and electromechanical solutions, showed a very strong business development as well, achieving sales growth of 22.5 percent. The Industry Division of the Würth Line also reported above-average sales growth of 20.1 percent.
E-business sales grew by 21.2 percent compared to the previous year, accounting for 20.7 percent of total sales.
Würth Group has a total of 85,637 employees
The Würth Group recruited 2,454 new employees in the 2022 fiscal year. Currently, the Group employs 85,637 people, 43,297 of which work in sales. In Germany, the company has 26,113 employees.
Confident for 2023 despite crises, end of material shortages in sight
According to the German ifo Institute, material shortages in the industrial sector have improved somewhat. In many sectors, bottlenecks are easing. Mechanical engineering and the automotive industry remain the sectors most affected by material shortages. In the construction sector, projects are being cancelled or postponed due to rising construction costs and interest rates. “The current challenges will continue to be an issue in 2023. It remains to be seen how consumer behavior and energy prices will develop, and what impact China’s relaxed zero-COVID policy will have on supply chains. Operating in this fragile, interdependent environment will remain a key challenge in 2023. Despite all crises, we will maintain last year’s momentum and positive spirit, stay optimistic and act with caution,” according to Friedmann.
The Press Conference on the Annual Financial Statements of the Würth Group will take place on Thursday, 4 May 2023, in digital form.
About the Würth Group
The Würth Group is the global market leader in the development, production, and sale of fastening and assembly materials. Other trading and production companies, known as the Allied Companies, operate in related business areas, ranging from electrical wholesale and electronics to financial services. The Group employs more than 85,000 employees in over 400 companies with more than 2,500 pick-up shops across 80 countries. According to the preliminary annual financial statements, the Group generated sales of EUR 19.95 billion in the 2022 fiscal year.