Fisher targets growth after record sales of $1.3 billion in 2023

 

Admin I Friday, March 01, 2024

 

BERLIN – Fastening specialist Fischer is targeting growth for 2024 after securing record sales last year, the company said on Thursday.

Despite a difficult market environment in 2023, Fischer achieved a high in the company’s 75-year history with sales of €1.16 billion ($1.3 billion), up 2% from the previous year, it said.

“However, high energy costs and high bureaucratic hurdles are affecting development, especially in Germany,” the company said.

In the current year, Fischer will only invest very carefully, it said.

“All investments in the future of the company will be made primarily abroad.”

The German multinational manufacturer, best known for its fastening products for the construction and DIY industry, did not provide profit figures.

In its toy manufacturing branch, Fischertechnik reported sales growth of 10%, while the automotive sector grew by 5%.

The Fischer group includes 52 companies in around 40 countries. The number of employees rose by 300 to 5,900 worldwide.