Transparency

is a frame of mind that is put into practice daily at Hilti. It is a permanent fixture in the corporate culture – in its dialogue with customers, in the way it works with partners and in the way its worldwide teams work with each other. That is a good enough reason for this company report to focus on transparency.

Dear readers

Although 2015 was a challenging year for Hilti, it ended with highly satisfactory results. Find out more about the challenges and achievements of the business year 2015.

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The company.

Hilti develops and produces products, systems and services that feature leading-edge technology
and provide the construction and energy sectors with outstanding added value.

System solutions.

Hilti provides the construction industry with technologically leading products and systems, innovative software and comprehensive services.

The year in figures.

Net sales in CHF million
2015 4,384
2014 4,497
Operating result in CHF million
2015 547
2014 537
Net income in CHF million
2015 410
2014 426
Return on sales (ROS) in %
2015 12.5
2014 11.9
Return on capital employed (ROCE) in %
2015 19.0
2014 16.8
Free cash flow in CHF million
2015 335
2014 383
Employees at December 31
2015 23,385
2014 22,248
CEO@2x

A year marked by
massive investments.

CEO Christoph Loos talks about the 2015 business year, the challenges of the future and the implementation of Hilti’s Champion 2020 corporate strategy. 

Highlights 2015.

With transparency comes efficiency.

ON!Track connects software, hardware and personal advice and helps customers in the construction industry to manage their assets.

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Strong interface, smart solution.

Downtime on the jobsite is a nuisance and a substantial cost item. Now, Hilti has developed a simple and effective problem solver: the new diamond core bit with the X-Change module.

Serving science.

Hilti was involved to a large extent in the construction of the new MAX IV Laboratory hosted by Lund University in Sweden. The outcome is a scientific research facility of global significance.

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Networking for the future.

When companies and universities cooperate, they create an ideal opportunity to support and challenge each other. Hilti is globally engaged in many different ways at universities.

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New perspectives.

16 international companies and eight technical universities in Europe have formed the “Unitech International” partnership. Hilti has supported this organization since its establishment in 2000 and Hilti Executive Board member Stefan Nöken serves as Unitech’s Vice President.

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New perspectives.

The one-year program for highly qualified engineering students includes an exchange program at a university abroad as well as an internship with one of the corporate partners.

“Unitech creates the perfect link between theory and practice,” says Xavier Moix-Vallribera. Back in 2011, the Spanish student did his Unitech internship with Hilti and was hired once he had completed the program.

“Hilti was instrumental for my personal and professional development and has opened the door to the world for me. What more can you ask for?”

Go to Unitech.

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Encouraging innovations.

Combining theory and practice is essential in research and development. That is why in 2007 Hilti endowed a chair in Business Process Management at the University of Liechtenstein.

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Encouraging innovations.

The primary concern is with the development of innovative business models based on modern information and communications technologies. Cooperation opens up attractive research and education opportunities for the university. In turn, Hilti has the opportunity to recruit up-and-coming talent and gain early insights into the latest trends in this academic field and draw on them for its own initiatives.

Hilti supports the chair not only financially but also as a primary industry partner in a variety of projects; these include offering case studies or problem scenarios for seminars to discuss, and by organizing lectures. It also runs the Hilti Fellowship Program, which enables selected students working towards master’s degrees to gain practical experience with the company in various countries.

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Finding young talents.

Hilti uses talent recruitment and career information events around the world to present itself as an attractive employer among students. One such event is an annual job fair for master’s degree graduates at the London Business School.

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Finding young talents.

This is where Hilti Great Britain has established contacts with potential future employees since 2014 with the objective of expanding its activities in order to awaken the interest of students at an early stage.

In 2016 Hilti representatives will attend a speaker’s panel as one method to publicize the company and its employment conditions and to build brand awareness in the student community – a key driver for the choice of a first or new employer.

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Helping to shape careers.

Among other things, in 2015 Hilti team members gave guest lectures about a talent development program and career opportunities for engineers at the University of Tokyo.

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Helping to shape careers.

Among others, Pius Baschera, Chairman of the Board of Directors, spoke to the students. Furthermore, representatives regularly performed advisory functions at lectures during which Japanese and American students were communicating in two languages via Skype – an ideal opportunity to strengthen cooperation.

Hilti Japan intends to further enhance this commitment by planning guest lectures at the University of Tokyo and creating internships for students.

Diversity-&-Inclusion

It’s the mix that matters.

Nowadays, leading industrial companies rely increasingly on diverse teams of different genders, cultural backgrounds, career paths and ages. In particular, companies with a global footprint put emphasis on Diversity and Inclusion (D&I), with demographics having added momentum to the trend over the past few years.

Executive Board.

Executive Board.

Dr. Stefan Nöken
Mörschwil, Switzerland

“My highlight of 2015 was the inauguration of our Innovation Center in Schaan. This modern, functional and transparent working environment will substantially enhance our innovative capacity.”

Stefan Nöken (born 1965, Germany) has been a member of the Executive Board since the beginning of 2007. He is responsible for Fastening Technology and Logistics. He joined Hilti in 2000 as the Head of Corporate Engineering. In 2004, he took over responsibility for Supply Chain Management with the global plants, procurement and global logistics.

Matthias Gillner
Grabs, Switzerland

„My highlight of 2015 was meeting our teams in the emerging markets. The dedication of our Hilti teams around the world is a source of inspiration for me.”

Matthias Gillner (born 1967, Germany) has been a member of the Executive Board since April 2011. He was initially responsible for Electric Tools and Corporate Research & Technology. Since the beginning of 2014, he has led the areas of Emerging Markets and global Energy & Industry. He began his Hilti career in 2000 as the Head of Corporate Development. In mid-2001, he was named Head of Corporate Human Resources and then moved to lead the Measuring Systems Business Unit. From 2006 until the end of 2013, Matthias Gillner was Head of the Electric Tools & Accessories Business Area.

Dr. Christoph Loos
Chief Executive Officer
Schaan, Liechtenstein

“My highlight of 2015 was that, after the January 15 decision by the Swiss National Bank, we had the courage to carry through our significant investments unchanged.”

Christoph Loos (born 1968, Germany) assumed CEO responsibilities in January 2014. He has been a member of the Executive Board since 2007. During the first four years of this tenure, he was responsible for Finance, Human Resources, IT and Corporate Development. In 2011, he took over the areas of Emerging Markets and the global Energy & Industry. Upon joining Hilti in 2001, he first led the Corporate Development Team and then established the Strategic Management unit. At the end of 2003, he moved to Germany, first as a Regional Sales Director and then, starting in 2005, as General Manager of Hilti Germany.

Marco Meyrat
Chur, Switzerland

“My highlight of 2015 was the opening of our new site in North America. That has been a great and important investment in the future of this growth market.”

Marco Meyrat (born 1963, Switzerland) has been a member of the Executive Board since the beginning of 2005. He is responsible for the markets in Europe and North America. He began his Hilti career in 1989 as Product Manager at Hilti corporate headquarters in Schaan. After holding various positions in Hilti France and Germany, he was named General Manager of Hilti Switzerland in 1999 and was subsequently appointed General Manager of Hilti Germany in 2002.

Jörg Kampmeyer
Vaduz, Liechtenstein

“My highlight of 2015 was that we succeeded in repeating the record financial performance of 2014 despite uncertain markets and persistent exchange rate volatility.”

Jörg Kampmeyer (born 1968, Germany) has been CFO and a member of the Executive Board since April 2011. He is responsible for the areas of Finance, Human Resources, IT and Corporate Development. He began his Hilti career in 2002 as the Head of Corporate Development. From 2003 to 2005, he was responsible for the company’s Strategic Marketing unit. In 2006, he moved to Germany, initially serving as Regional Sales Director, and in the course of the year, he became General Manager at Hilti Germany. Since 2010, he has also headed the Central Europe Market Region.

Jahangir (Jan) Doongaji
Maienfeld, Schwitzerland

“My highlight of 2015 was this year’s Martin Hilti Innovation Prize. Never before have the entries of our employees been so convincing and innovative.”

Jahangir (Jan) Doongaji (born 1967, India/Switzerland) has been a member of the Executive Board since 2014. He is responsible for the areas of Electric Tools and Corporate Research & Technology. He began his Hilti career in 2000, initially leading customer service in the Swiss market organization. In 2002, he moved to corporate headquarters in Schaan where he held various positions in different business units. Most recently, he headed the Power Tools & Accessories Business Unit.

Board of Directors.

Board of Directors.

Kim Fausing
Sønderborg, Denmark

Kim Fausing (born 1964; re-elected until the 2016 Annual General Meeting) was elected to the Board of Directors in 2010. He earned a degree in mechanical engineering at Aarhus Teknikum, in Denmark, in 1987, and an MBA degree at Henley Business School, in London, in 1996.

His professional career led him to the Hilti Group in 1990, where he served in various management functions in Europe and Asia until 2007. After moving to the Danish Danfoss Group, he was named Chief Operating Officer and member of the executive committee in January 2008. He also is Vice-President of the Velux Group in Copenhagen, Denmark.

Barbara Milian Thoralfsson
Oslo, Norway

Barbara Milian Thoralfsson (born 1959; re-elected until the 2017 Annual General Meeting) was elected to the Board of Directors in September 2014. She has an MBA in marketing and finance from Columbia University in New York and a BA in psychology from Duke University in North Carolina.

Barbara Milian Thoralfsson has held CEO positions in the telecom and consumer goods sectors, and has extensive experience as a non-executive director, in both public and privately held global companies. Since 2006 she has been an entrepreneur in the industrial sector (Fleming Industrier AS, Oslo) and, since 2007, an Industrial Advisor of EQT Partners AS, Oslo. Barbara Milian Thoralfsson is also a member of the Board of Directors of SCA AB, Stockholm; Cable and Wire- less Communications Plc, UK; ColArt International Holdings Ltd, London; and Norfolier GreenTec AS, Oslo.

Michael Hilti
Schaan, Liechtenstein

Michael Hilti (born 1946; re-elected to serve until the 2018 Annual General Meeting), son of company founder Professor Martin Hilti, has been a member of the Board of Directors since 1990.

After studying business administration at the University of St. Gallen he worked in banking in London before joining Hilti in 1974 as the Deputy Head of Marketing. Two years later he was named to the company’s Executive Board and he served as CEO from 1990 to 1993. He was Chairman of the Board of Di- rectors from 1994 to 2006. Michael Hilti is a Trustee of the Martin Hilti Family Trust and a member of the Board of the Hilti Foundation.

Prof. Dr. Pius Baschera
Chairman of the Board of Directors
Zurich, Switzerland

Pius Baschera (born 1950; re-elected to serve until the 2016 Annual General Meeting) is Chairman of the Board of Directors. He studied mechanical engineering and business administration at the Swiss Federal Institute of Technology Zurich, where he earned his doctorate.

In 1979, he came to Hilti as Head of Financial Controlling in the production area. Before being named Chairman he served as CEO for 13 years. He is currently a member of the Board of Directors of Roche Holding Ltd, Basel; and the Schindler Group, Hergiswil. He also is a member of the Advisory Boards of Vorwerk & Co., Wuppertal; and Ardex GmbH, Witten, Chairman of the Board of Directors of Venture Incubator AG, Zug; and a professor of entrepreneurship at the Swiss Federal Institute of Technology Zurich.

Heinrich Fischer
Rüschlikon, Switzerland

Heinrich Fischer (born 1950; re-elected until the 2016 Annual General Meeting) has been a member of the Board of Directors since 2007. He graduated in 1973 with an engineering diploma from the Swiss Federal Institute of Technology Zurich, having studied electrical engineering and technical physics.

He then went on to study business administration at the University of Zurich while working in this field, earning a master’s degree in 1976. Beginning in 1977, he held senior management positions at Oerlikon Bührle Holding, Balzers AG (1980 to 1989), and finally at Oerlikon Holding once again (1990 to 1995). From 1996 to 2007, he was Chief Executive Of- ficer at Saurer AG, Arbon. Heinrich Fischer is a member of the Board of Directors of Tecan AG, Orell Füssli AG (Chairman), Sensirion AG and SWM Inc.

Dr. Tis Prager
Zumikon, Switzerland

Tis Prager (born 1948; re-elected until the 2016 Annual General Meeting) has been a member of the Board of Directors since June 2006. He earned a doctorate in law from the University of Zurich in 1975, was admitted to the bar of the Canton of Zurich in 1978 and is a founding member of the Prager Dreifuss law firm in Zurich and Bern.

Among other mandates, Tis Prager is the Chairman of the Board of Scherer & Bühler AG, Meggen; the Hotel Zurich AG (Marriott), Zurich; and Emil Hitz AG, Bassersdorf. He is also a member of the Board of Directors of the Bourquin Group, Couvet; former Chairman of IE Engineering Group AG, Zurich; and Caprez Ingenieure AG, Chur. He is also active in STEP, the Society of Trust and Estate Practitioners.

Dr. Michael Jacobi
Binningen, Switzerland

Michael Jacobi (born 1953; re-elected until the 2016 Annual General Meeting) was elected to the Board of Directors in 2007. He studied business economics at the University of St. Gallen and at the University of Washing- ton, Seattle, and earned his doctorate from St. Gallen in 1979.

From 1978 until 2007 he held various management positions in the financial area of Ciba-Geigy AG and later in Ciba Specialty Chemicals Inc., Basel. He was the company’s Global Chief Financial Officer from 1996 until 2007. Today Michael Jacobi is an independent corporate consultant. Since 2003, he has been a member of the Board of Directors of Sonova Holding AG, Stäfa, and since December 2008 a Trustee of the Martin Hilti Family Trust. He was named to the Board of Directors of Actelion Pharmaceuticals Ltd., Allschwil, in 2009.

Corporate responsibility.

Hilti combines long-term entrepreneurial success with comprehensive responsibility towards society and the environment.

Key figures.

The economic momentum of the markets in which Hilti is operating has shown a mixed picture in 2015: While the markets continued to develop favorably in the US and turned stable in Europe, many emerging countries were faced with a challenging environment. This was compounded by the Swiss National Bank’s decision to remove the 1.20 floor on the Swiss franc against the euro resulting in a massive appreciation of the Swiss franc. Against this backdrop, Hilti is satisfied with last year’s results: Sales in local currencies (+5.8%) were in line with expectations and the operating result slightly outgrew last year’s record level.

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