The globally operating Würth Group, based in Künzelsau, Germany has achieved new record results for 2022. According to the preliminary annual financial statements, the Group's annual sales of EUR 19.95 billion are above the previous year’s figure of EUR 17.06 billion, up 16.9%. Adjusted for currencies, sales grew by 15.1%.
"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.
The Electrical Wholesale unit was particularly successful, reporting growth of 25.0%. Service leadership, a high level of product availability combined with above-average logistics expertise are the reasons for this development. In addition, this sector benefited from the renewable energy boom.
E-business sales grew by 21.2% compared to the previous year, accounting for 20.7% of total sales.
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.
According to the German ifo Institute, material shortages in the industrial sector have improved. 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 behaviour 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.