STIHL increases share of overall sales from battery products (FOTO)

Waiblingen (ots) - The STIHL Group, a leading manufacturer of chainsaws and
outdoor power equipment, continued to successfully roll out its battery strategy
in fiscal year 2023. The internationally active family business was able to
increase the share of sales from battery-operated tools to 24 percent - up from
20 percent in the previous year. As a result, almost every fourth STIHL product
sold is battery-operated. Michael Traub, Chairman of the Executive Board of
STIHL, says: "STIHL is well on its way to taking a leading position in the
battery segment. Our customers know that they can rely on the high quality of
our products and our service." At the same time, the past fiscal year was
characterized by a variety of challenges. After years of particularly strong
growth during the coronavirus pandemic, the entire industry is now in a phase of
consolidation. The STIHL Group's revenue totaled 5.3 billion euros in fiscal
year 2023 (previous year: 5.5 billion euros). Despite the slight year-on-year
decline of 4.1 percent, revenue was still at a significantly higher level than
before the coronavirus pandemic. Negative exchange rate effects also impacted
revenue. Excluding exchange rate effects, the decline in revenue would only have
amounted to 1.1 percent. The number of employees worldwide fell by 3.6 percent
to 19,805 as of December 31, 2023 (previous year: 20,552).

"After three years of extremely strong growth, we were confronted with declining
demand in 2023," Traub explains. "This phase, which we experienced due to the
coronavirus pandemic, is over. Lockdowns and travel restrictions had led to a
cocooning effect. Home and garden maintenance was very popular, and many
consumers invested in new tools. High inflation and rising interest rates have
now dampened consumer sentiment. In addition, dealers and retailers have plenty
of stock that they now need to sell off first."

STIHL remains optimistic

As an independent family-owned business, STIHL is capable of planning and acting
for the long term despite the current challenges. Traub is cautiously optimistic
about the current year: "Under the current conditions, we currently hope for
slight growth in the second half of 2024." The focus continues to be on the
general expansion and renewal of the STIHL product portfolio, both for private
and professional use. Developing high-performance charging solutions for
battery-operated products, particularly in the professional segment, plays an
especially important role. Doing so will make it easier for people to operate
their battery-operated tools without interruption throughout the day, and work
in and with nature. Likewise, STIHL is continuing to invest in the IoT
capability of its products and accessories, in the expansion of global sales
channels with the addition of e-commerce solutions and growing the global
network of specialist dealers. Last but not least, the development of special
products for emerging markets also plays a major role in order to better
leverage the market potential there.

The complete press release is available at https://www.stihl.com/press.aspx
(https://corporate.stihl.de/presse.aspx) .

Contact:

Dr. Stefan Caspari
Corporate Communications
mailto:[e-mail]
+49 - (0) 7151/26-1402

Additional content: http://presseportal.de/pm/64484/5763852
OTS: ANDREAS STIHL AG & Co. KG