Mixed and very challenging - this is a brief and concise description of the financial year of the STIHL parent company. Nevertheless, the German sites were able to achieve moderate revenue growth of 3.3 percent to 1,632 million euros. The export ratio of 89.3 percent in the current fiscal year is and will remain almost unchanged and very high. In contrast, the investment volume and the equity ratio declined slightly.
Management Report – The STIHL Founding Company
REVENUE AT THE FOUNDING COMPANY RISES TO 1.63 BILLION EUROS
In the 2024 fiscal year, the founding company recorded moderate revenue growth of 3.3 percent (previous year: -11.4 percent) to 1,632 million euros. At 89.3 percent, the export ratio remained at a very high level (previous year: 88.0 percent). The largest increases in revenue were recorded in the Australia/Oceania, Asia, and South America regions.
HIGH CAPITAL EXPENDITURE
The investment volume (property, plant, and equipment, as well as intangible assets) amounted to 133.3 million euros in the reporting year (2023: 162.9 million euros). Once again, the majority of capital expenditure was directed toward the SAP S/4HANA program and various building and facility projects, primarily construction initiatives in Waiblingen. Greater capital expenditure went to new production facilities, including at the Waiblingen plants.
Substantial investments were also made in research and development in Waiblingen, as well as in IT infrastructure. As in previous years, capital expenditure in 2024 significantly exceeded depreciation.
STABLE EQUITY RATIO OF 37.3 PERCENT
The equity ratio stands at 37.3 percent (previous year: 40.3 percent) and therefore remains very high. Fixed assets and part of inventories are thus covered by equity. Total liquidity, including securities held as current and fixed assets, accounted for 15.0 percent of the balance sheet total. However, it is important to note that these expenditures are offset by significant long-term obligations from the company pension plan.
SELF-FINANCED PENSION OBLIGATIONS INCREASED
The actuarial reports led to an increase in pension provisions and other liabilities from outstanding capital payments of 1.1 percent overall compared to 2023 (increase in the previous year: 3.0 percent). The calculations are based on the Heubeck 2018 G mortality tables.