Key Events in 2017
Report of the Board of Directors
In financial year 2017 the Würth Group grew by 7.5% to achieve a new record sales figure of EUR 12.7 billion. In local currencies the increase was even greater at 7.9%. This growth was broadly based globally, with e-business sales in particular recording above-average growth of 19.3% in 2017. The Group’s growth was reflected in rising business volumes and revenue for Würth Finance International B.V.
Report of the Management
“There is much to indicate that the economy will be robust in the coming months” – that was our optimistic opener for the economic outlook 2017 in last year’s Würth Finance Group Annual Report. Now we know: it was much better still, especially in Europe. The Würth Finance Group performed well in 2017. Overall, revenue rose by 7% to EUR 70.0 million, with increases in both Inhouse Banking – where core activities benefited from the high level of growth at the Würth Group – and at External Financial Services.
Report Inhouse Banking
Inhouse Banking recorded a good result for 2017, reflecting healthy growth for the Würth Group. The volumes handled by the central settlement of payments to suppliers and in intercompany factoring activities increased at a double-digit percentage pace and led to corresponding income growth. Revenue reached EUR 59.7 million in the year under review (previous year: EUR 55.4 million). An even stronger increase was prevented by stagnating net interest income and lower year-on-year revenues from the IBB participation and securities investments.
Report External Financial Services
Würth Financial Services AG ended 2017 with record sales. They increased by 4% compared with the previous year. In the same period the volume of insurance premiums rose from CHF 240 million to CHF 250 million. The number of corporate clients also increased to 2,650. As in the previous year, the Rorschach branch made an above-average contribution to growth. The company drew great benefit from the profile that the Würth Group and the Würth House Rorschach enjoy in eastern Switzerland, where it is regarded as an attractive employer.