Letter from the Chairman of the Advisory Board

Annual Report 2023

Online Journal

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Letter from the Chairman of the Advisory Board

Dear Business Partners,
Dear Staff,
Dear Friends of the STIHL Group,

2023 was another difficult year. The ongoing war in Ukraine and the new war in the Middle East caused uncertainty among policymakers both in Germany and around the world. The aftermath of the pandemic also brought increased inflation, sustained pressure in supply chains, and high energy prices. Meanwhile, extreme weather events and forest fires on all continents dominated the headlines.

These global events also had an impact on the STIHL Group, with revenue down over the previous year. We took robust countermeasures to ensure the long-term stability and competitiveness of the Group, allowing us to keep the decline in revenue within narrow limits and lay the foundations for a more successful 2024. When compared directly with its competitors, STIHL has actually held up well, which makes me optimistic.

In this time of upheaval and uncertainty, I would like to express my gratitude to employees across the STIHL Group. Your extraordinary commitment and tireless efforts have enabled us to overcome the challenges of the past year. You have once again demonstrated flexibility and shown great personal dedication to our business.

The tasks ahead of us will not get any easier. However, I firmly believe that we can set the course for a successful future by joining forces and following a clear strategic direction.

On behalf of the Advisory Board, I would also like to thank all our partners, the Supervisory Board, the Executive Board, and the employee representatives for their positive and constructive cooperation.

Dr. Nikolas Stihl
Chairman of the Advisory Board