The Wilo Group is off to a strong start in 2021
Strong growth in revenues and operating profits in Q1
Despite the still extremely adverse macroeconomic conditions, which were heavily influenced by the coronavirus pandemic, the Wilo Group increased its net sales strongly by almost 20 % year-on-year in the first quarter. Profitability also increased significantly, with operating earnings before interest and taxes (EBIT) rising more than six-fold.
Even compared to 2019, which was not yet marked by the pandemic, significant improvements were achieved. Compared to Q1 2019, the percentage increase in turnover was in the high single digits and EBIT improved by around 40 %.
"We are pleased with the very good quarterly result, as it shows that the measures and strategies we have taken to mitigate the effects of the corona pandemic are having an impact, as is our prudent spending policy," said Oliver Hermes, President & CEO of the Wilo Group. “However, we are monitoring current developments very closely in order to be able to react quickly and flexibly to changing conditions if necessary. We are already seeing significant dislocations in the procurement markets and assess the projected economic recovery as still very risky and volatile.”
“In this respect, despite the very good result in the first quarter, we are also adhering to the measures initiated in the previous year to secure liquidity and profitability in 2021,” adds Mathias Weyers, CFO of the Wilo Group. “In view of the uncertain outlook and of the intense competitive environment, we regularly analyse cost drivers and adjust structures where necessary. Current and future projects are continuously reviewed and only those investments that are of particular strategic importance are realised.”