Revenue rose by 1.9 percent in local currencies in fiscal year 2025. The sharp appreciation of the Swiss franc resulted in a negative currency effect of 4.0 percentage points on revenue. The Hilti Group’s total revenue was CHF 6.3 billion (-2.1%). Due to continued high investments and negative currency effects, operating profit fell by 5.3 percent to CHF 728 million.

“The past year was marked by ongoing uncertainty worldwide, and we had to navigate a radically changed customs landscape. Nevertheless, we were able to increase productivity in our core business and have made significant investments in our future. This will allow us to approach 2026 from a position of strength. Together with our highly motivated global team, we will stay the course and continue to implement our strategy,” says CEO Jahangir Doongaji.

Revenue in the Americas region rose by 9.3 percent in local currencies. Despite the dynamic tariff environment, solid double-digit growth was achieved in the U.S. market. In Europe, revenue declined amid an overall weak construction market (-1.9% in local currencies). The Middle East/Africa region recorded growth of 12.9 percent in local currencies, driven by increasing construction activity in the Middle East. In Asia/Pacific, revenue declined by 2.1 percent in local currencies, mainly due to the challenging environment in North Asia.

Investments
In 2025, the Hilti Group continued to invest heavily in innovation and launched more than 70 new products and services. Expenditures on research and development totaled CHF 459 million, representing 7.3 percent of revenue. The software business continued to gain momentum: annual recurring revenue rose by 28.0 percent, and the established customer base exceeded 25,000. In addition, the production and supplier network in the Americas, Eastern Europe, and India was further expanded to strengthen the long-term resilience of the supply chain in a dynamic and complex global environment. At the end of 2025, the Hilti Group employed 34,420 team members, an increase of 67 employees (+0.2%) compared to the previous year.

Earnings Performance Operating profit declined by 5.3 percent, or CHF 41 million, to CHF 728 million (2024: CHF 769 million) compared with the previous year. The negative currency effect on operating profit amounted to CHF 38 million. At CHF 516 million, net profit was 8.0 percent, or CHF 45 million, below the prior-year figure (2024: CHF 561 million), including a negative currency effect of CHF 74 million (
) Return on sales (ROS) declined slightly to 11.6 percent (2024: 12.0%), while return on capital employed (ROCE) fell by 1.1 percentage points to 11.8 percent (2024: 12.9%). Free cash flow reached CHF 545 million (2024: CHF 379 million).

Outlook The global construction industry is expected to remain uncertain in 2026. Due to ongoing geopolitical instability and trade barriers, the Swiss franc is likely to remain strong in 2026 as well. In line with the Lead 2030 strategy, innovations in hardware, software, and services will continue to be driven forward. In addition, ongoing investments are being made to continuously improve the customer experience. For 2026, the Hilti Group expects revenue growth in the low single-digit range in local currencies and a ROS level similar to that of 2025.

Changes to the Board of Directors at
Melissa Mulholland has been nominated as a new member of the Board of Directors for the Annual General Meeting on April 27, 2026. She is Co-CEO of SoftwareOne, a publicly traded, internationally active company headquartered in Stans, Switzerland. Melissa Mulholland has more than two decades of experience in various countries and roles at renowned IT service providers such as Microsoft and Crayon. At the same time, Barbara Milian Thoralfsson is stepping down from the Board of Directors after 12 years, as per the rotation schedule.

Subject to the elections at the Annual General Meeting, the Board of Directors of the Hilti Group will consist of the following members as of the end of April: Michael Hilti (Honorary Chairman), Christoph Loos (Chairman), Daniel Daeniker, Michèle Frey-Hilti, Carla De Geyseleer, Marco Meyrat, Melissa Mulholland, and Peter Terwiesch.

“I am delighted that Melissa Mulholland has agreed to bring her experience to our Board of Directors. At the same time, I would like to thank Barbara Milian Thoralfsson for her many years of valuable service to our company,” says Christoph Loos, Chairman of the Board of Directors.

You can find the 2025 Integrated Annual Report, including the financial and sustainability statements, online via this link: https://reports.hilti.group