In a Sept. 13 release, Stihl stated the company had generated revenue of 3.84 billion euros in the period from January to August 2023, a 1.5% year-over-year decline. Excluding exchange rate effects, revenue would have increased by 0.9%. Stihl's total workforce decreased by 0.5% to 20,311 employees worldwide as of Aug. 31, 2023. The company stated the following regarding the revenue decline:
There are a number of reasons for the deterioration in business performance. Since the lifting of measures to contain the coronavirus, consumers have resumed spending more on tourism, cultural activities and eating out. Weaker economic development, inflation and the cost of energy have also led to subdued consumer spending in general. Alongside this restraint among consumers around the world, authorized dealers' high stock levels have also had an impact on sales performance at Stihl.
Speaking at the press conference held during International Stihl Media Day on Sept. 13, Michael Traub, chairman of the Stihl Executive Board, said, "After several years of strong growth, our markets find themselves in a period of temporary consolidation in 2023. But with over 100 years of history in the industry, Stihl has plenty of experience in responding to fluctuations in operating business. Our family-owned company has a long-term outlook, and we look to the future with confidence. We have ambitious growth plans and continue to invest a great deal in our business, especially in batteries — the technology of the future — and in our global manufacturing and sales net-work." Those plans include further expansion of the founding company in Germany, Traub added. Alongside a new manufacturing facility for battery-operated tools, the company also plans to build its own EC (electronically commutated) motor plant for professional battery-operated products in Waiblingen.
"What's positive is that our battery strategy is paying off and that our customers around the world remain very interested in battery-operated STIHL products," said Traub. "Sales of battery-operated chainsaws and other battery-operated power tools have increased year on year, and we have also achieved growth with our iMOW robotic mower. Some regional markets are also developing positively. Nevertheless, we are still seeing an overall decline in sales worldwide across all drive types."
Stihl reported that sales in North America had decreased — a trend that also affected Stihl's largest market: the U.S. Latin America, on the other hand, was performing on a par with the previous year. The company said it remains optimistic and expects further growth in the medium to long term
Stihl also announced the following investments:
- Expanding and renewing the STIHL product range for private consumers and in the professional segment.
- Developing high-performance charging solutions for battery-operated products, particularly in the professional segment, to make it easier for people to operate their battery-operated tools without interruption throughout the day and work in and with nature.
- Expanding global sales channels with the addition of e-commerce solutions and growing the global network of specialist dealers.
- Developing special products for emerging markets to make even better use of market potential there.
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