LOUISVILLE, Ky.—July 17, 2012 The Würth Group announced that its 2011 annual report entitled “Break Your Limits” is now available on the Company’s website at www.wurthindustry.com.
Enthusiasm Breaks Limits
The Würth Group employs 66,113 talented individuals worldwide who come up with new ideas and develop outstanding products every day. Respect for the performance of every individual, the scope to develop ideas and the impetus of a family-run business fuel the Group’s growth. At the heart of every employee the goal is to lighten the load of the customer so that they may focus on their business.
2011 Results
The Würth Group’s sales climbed to a new record level in 2011. Increases in sales totaled EUR 9.7 billion (12.1 billion USD), up 12.3 percent for the year. There were a number of challenges throughout the year, especially with an increasingly difficult global environment, but the right strategic decisions were made, and the Group again recorded double-digit growth.
Germany remains the single most important market for the Würth Group. 45.5 percent of the Group’s operating result was generated in its home market. Southern Europe was weaker than average, where effects of the economic crisis in Spain, Portugal, Italy and Greece are still being felt. The strongest growth seen in Asia is expected to remain above average over the next few years as a large number of the Asian Würth entities are still in the start-up phase.
Stabilization of the U.S. market continued successfully in 2011. This recovery was primarily ensured by the entities of Würth Industrial Network (WINWORK®), which benefited from the slight improvement in the economy in the relevant markets in the USA, and succeeded in winning new market shares. All five of the Würth Line divisions, focusing on assembly and fastening materials, supplying customers in the trades, the construction sector, and industry saw growth: Metal, Auto, Wood, Industry and Construction.
The metal division accounted for the largest portion of total sales with 16.9 percent of the Group’s overall share. Industry experienced the largest growth, boasting a 21 percent increase and composing 8.5 percent of the group’s sales. The wood division generated sales of EUR 932 million (1.2 billion USD) in the past fiscal year, North America being the division’s key international market holding 34 percent of sales generated in 2011.
Success of growth among each line division can be contributed to many things such as focusing on high potential customers, response to rapid development, entry into new markets, expanding customer base, and more.
Selling is the foundation of the Würth Group and is the most powerful growth driver. The focus on sales is also reflected in headcount development. More than half of all new hires joined the sales force in 2011. The number of sales representatives worldwide increased by 2,039 (+6.7 percent).
In addition, education and training is a priority in the Würth Group. One of the Company’s strengths as an employer is that the Würth Group has locations around the world and thus offers numerous career opportunities and growth from within the company.
Looking to the Future
Again, double-digit growth is expected for 2012. With “Break Your Limits” as the Würth Group’s motto for 2012, plans are to break through the EUR 10 billion (12.6 billion USD) barrier for the first time. In addition, continuing to inspire customers through commitment to and taking pride in the Company’s work. Bettina Würth, Chairwoman of the Advisory Board of the Würth Group states, “Our focus is on acting on the basis of mutual trust and predictability, honesty and straightforwardness as lived values with the Group and beyond.”
Würth Has a Vision
The target is “2020-20”. The Würth Group intends to generate sales of EUR 20 billion (25.2 billion USD) by 2020 with 100,000 employees. The foundation
of this goal is the readiness of all managers, together with employees, to think beyond the bounds of the usual. With this drive, optimism, and dynamism, Würth aims to not just keep its customers satisfied; it aims to inspire them.
The Würth Group specializes in assembly and fastening materials, supplying customers in the manufacturing and construction industries. In the U.S. alone, Würth services over 98,000 active customers and employs more than 2,300 personnel. Worldwide, the group has more than 400 operating companies serving markets in 84 countries and employing more than 66,000 people.
