Wurth: Bouncing Back From a Slump in 2024 and Targeting 2025 Growth
Targeting expansion by 2025: Wurtz seeks profit increase following decrease in earnings - Projected Rebound in Profits: Würth Anticipates Growth Resumption in 2025
Despite a gloomy economic climate and the US trade dust-up, the Wurth trading mega-corp aims to boost business in 2025. "We clocked a near 4% jump in the first quarter," declared Wurth CEO Robert Friedmann. He ain't seeing no "hoarding effect" due to the Trump tariffs. For the year, the Wurth Group from Kunzelsau in northeastern Baden-Württemberg is chasing mid-single-digit revenue growth.
Friedmann believed the development relies heavily on external factors. "We think we've set the company on an upward trend. We're waging a war to keep it that way", he said. However, due to the Trump tariffs, it's a bitch to make accurate forecasts. No one's got a crystal ball on where them tariffs are wreaking havoc. "It's too early to yap about how this'll all play out."
CFO Ralf Schaich predicted the figures should level out at last year's level - if the expected growth holds up until the end of the year.
Plummeting Profits and Dwindling Revenue
Wurth's earnings before taxes dropped over 35% to 940 million euros last year, down from over 1.4 billion euros in 2023. After-tax earnings were 673 million euros. "The result coulda been bigger. But it's still the fourth-highest value in the company's history", said Friedmann.
The company pinned the decline on tumbling revenue and swelling costs. Revenue slid by around 0.9% to just over 20.2 billion euros last year. The sucky state of the manufacturing industry played a significant role in revenue fluctuations.
Executive Shake-up at the Conglomerate
The Wurth Group is the world leader in fastening and assembly technology. Their wares run the gamut from over a million products, such as screws and dowels, tools, and personal protective equipment, designed for crafts and industrials alike. Some 88,400 employees worked for the corporation at the end of 2024, a hike of 1.5%.
The once two-man operation made company chairman Reinhold Wurth (90) a billionaire. He waved goodbye as chairman of the supervisory board at the year's start, after more than 75 years of service. The board governs the family foundations the corporation is a part of and has a hand in strategic decisions. Meanwhile, the third generation has taken the reins.
- Reinhold Wurth
- Adolf Wurth GmbH Co.
- Profit Nosedive
- Kunzelsau
- Donald Trump
- Economic Crunch
- CEO
- US President
- In an effort to counteract the economic crunch and the US trade dust-up, Wurth, the worldwide leader in fastening and assembly technology, aims to offset the slump in 2024 and target growth in 2025.
- Despite the near 4% increase in revenue during the first quarter, Wurth CEO, Robert Friedmann, admits that the development relies heavily on external factors such as tariffs, making accurate forecasts challenging.
- Wurth's profit nosedive is attributed to tumbling revenue and swelling costs, with the company's earnings before taxes dropping over 35% to 940 million euros last year.
- To stabilize the industry and finance business growth, the Wurth Group advocates for community aid and vocational training programs for its 88,400 employees, aiming to empower the workforce and ensure a promising future.
