Management Report ACCELERATED SALES GROWTH AND RENEWED RISE IN PROFITABILITY Management Report digit growth in 2018, boosting sales by 10.7 The Hilti Group once again achieved double- percent in Swiss francs. When adjusted for acquisition effects the increase amounted to 9.7 percent. The operating result rose 7 percent to CHF 728 million. The primary factor driving the company’s success once again proved to be the consistent implementation of the Champion 2020 corporate strategy and significant investments in innovation, market reach and infrastructure. Hilti showed strong global growth in 2018. Both North America and Europe achieved double- digit increases in local currencies, 10.4 and 10.6 percent, respectively. Latin America also grew strongly, at 8.6 percent, although the region’s main markets continued to be hampered by political uncertainties. Growth was also strong in the Eastern Europe / Middle East / Africa region (+9.3%), although political tensions also had a negative influence on results in this region, particularly in Russia, Turkey and Saudi Arabia. In Asia/Pacific the growth level increased to 7 percent but remained below expectations. Currency effects, particularly the slightly positive trend for the Euro, contributed 0.9 percentage-points to sales in terms of Swiss francs. 2018 Financial Report | 6