KIRCHLENGERN, Germany -- Hettich group of companies reported sales of $1.2 billion in 2017. This represents an increase of 6.8 percent over 2016.
As announced by the chairman of the management board, managing partner Dr. Andreas Hettich, business abroad rose to 71 percent of turnover after accounting for 69 percent the year before. In 2017, about $145 million was invested in products, plant and buildings worldwide. Around the globe, the group employed an average of 6,600 members of staff over the year. More than 3,600 of these employees were in Germany.
In full family ownership, the company has a tradition of not publishing specific operating figures. "Although turnover grew substantially last year, the operating result came under particular pressure from the sharp rise in material costs. The latest wage agreement in the metal industry is putting significant further pressure on costs and earnings,", Dr. Hettich said.
Have something to say? Share your thoughts with us in the comments below.