2023-08-23 - Hultafors group

Hultafors Group's Half-Year Results: Continued Net Sales Growth While Improving Margin

On August 23rd, our parent company, Investment AB Latour, unveiled the first half-year results, showcasing an impressive overall strength and reaching record levels for the second quarter.

“We take pride in being part of and contribute to this success, and Hultafors Group continues its successful growth journey. Despite an increasingly challenging market trend for some of our businesses, we are actively expanding our business,“ says Martin Knobloch, CEO of Hultafors Group.

Within Hultafors Group, our PPE division continues to successfully gain market share while improving margins. “PPE Europe still benefits from a favorable business climate and is successfully capturing market share on top of that while enhancing margins. This combination has resulted in both record sales and profits for our PPE division,“ adds Martin.

Conversely, the macro trends in the renovation and building segment present an adverse business climate in some markets, affecting our Hardware divisions, who have already taken mitigating action to reduce cost and improve margins. “We are happy to see our hardware divisions strengthen their position in a descending market and we are convinced that both divisions will have a strong path ahead.” Martin elaborates.

“In this environment we take advantage of being a strong group where the different divisions act according to their individual business and market climate independently of each other. On top, no matter the business conditions, the divisions keep their long-term initiatives to drive sustainable innovation, strengthen product development and drive their M&A agenda forward. Our objective is to use the current market climate to strengthen our core and come out of this slower market strengthened as a group with an increased competitive advantage.“

Reflecting on the year so far, Martin concludes, “As a group, we've experienced continued growth, and I'm excited about our ongoing progress as a unified company. I am confident that the strategies we have chosen will lead us toward continued success.“

2023-08-23 - Hultafors group