The Würth Group reported sales declined 3.2% to EUR 10.2 billion in the first half of 2024. Operating result dropped 23% to EUR 525 million as a result of the lower sales volume in the first half of the year.

“Our sales development continues to be strongly influenced by the economic situation, which is particularly noticeable in the manufacturing units that supply to the automotive industry,” stated Chairman Robert Friedmann.

“At the moment, we cannot expect the situation to improve in the short term.”

Among the Group’s Allied Companies, the Chemicals unit sales gained 6.6%.

During the first six months, Würth acquired 80% of the shares of IDG01 S.p.A., an electrical wholesaler in Italy. The company has 580 employees across 41 locations, and generated sales of EUR 285 million in 2023.

But company expectations for the coming months remain muted.

“Provided the macroeconomic and geopolitical situation remains stable, the Group expects a comparable sales level as in 2023 and a decline in the operating result this year,” the company stated.

Currently Würth has 88,616 employees worldwide, with 44,437 employees working in sales. Web: wurth.com