Künzelsau/Hohenlohe Region. The Würth Group, despite facing unfavorable external conditions, succeeded in generating record sales figures in the 2003 financial year.

The world's largest trading firm in the area of fastening and assembly, based in Künzelsau/Hohenlohe Region, increased its total sales figures by 1.7 percent to 5.45 billion euro (compared to the previous year's value of 5.36 billion euro). Adjusted for currency fluctuations, sales figures grew by 4.4 percent. The pre-tax operating profit also reached a record high of 330 million euro (+ 17.4 percent). "Growth in profit must always take precedence over growth in sales - this was an objective which we implemented in 2003 and whose success we now see reflected in the record sales figures and operating results attained", declared Dr. Walter Jaeger, Chair of the Board of Directors, at the presentation of the Group's financial statements for the 2003 fiscal year. The statements were unveiled on Wednesday, 12th May 2004 at the company headquarters in Künzelsau-Gaisbach.

Companies Abroad Grow Faster

The sales of companies outside Germany rose by 3.0 percent to 3.25 billion euro (previous year's value: 3.15 billion euro). Adjusted for currency fluctuations - exchange-rate fluctuations had particularly strong repercussions in the United States due to the weakened dollar - foreign sales figures even rose by 7.6 percent. Total sales within the domestic companies fell by 0.1 percent to 2.2 billion euro (previous year's value 2.21 billion euro).

Operating Result Rises to 330 Million Euro

As a result of the consolidation- and stabilization-oriented policy pursued by the company, the operating result rose by 49 million euro in comparison to the previous year's value and reached a record high of 330 million euro. Annual profits grew by 52 million to 219 million euro. As a consequence, the financial stability of the company was further improved: the economic equity of the Würth Group increased to 1.5 billion euro in 2003. The company therefore boasts a weighty equity rate of 48.0 percent (previous year's value: 45.5 percent), a rate which lies far above the average held by other European trading firms.

Investment in Sales is a Contributory Factor to the Company's Success

The recruitment of 1,519 additional sales reps was a particularly large contributory factor to the company's economic success in the 2003 financial year. By 31st December 2003 the number of employees had increased by 2,143 to 41,952 on the previous year's value (39,809). Thus the number of employees within the Würth Group has grown by more than 10,000 overall in the past 4 years.