2012 Company ReportWe passionately create
enthusiastic customers andbuild a better future.

Overview.

Key figures (in CHF million)
2012

2011

Change

4,204

3,998

+206

Operating result

301

207

+94

Cash flow from operating activities

617

242

+375

Net sales

194

97

+97

21,13921,848−709

Net income
Employees (as at December 31)

Net sales (in CHF million)
6,000

2008

2009

2010

2011

2012

4,700

3,845

3,930

3,998

4,204

5,000
4,000
3,000
2,000
1,000

Operating result (in CHF million)
600

2008

2009

2010

2011

2012

450

172

268

207

301

500
400
300
200
100

This is Hilti.

We supply the construction industry withtechnologically superior products, systems
and services. We provide innovative solutions that feature outstanding added value.
We passionately create enthusiastic customers and build a better future with approximately 21,000 team members located in
more than 120 countries around the world.
We live clear values. Integrity, the courage toembrace change, teamwork and commitment are the foundations of our corporate
culture.
We combine long-term financial success withcomprehensive responsibility toward society
and the environment. Reciprocal tenets ofopenness, honesty and tolerance apply toteam members, partners and suppliers alike.
The goal of our strategy is to sustainably
increase the value of the company.

Topics.
04

Editorial

06

Strategy

10

Customers

16

Areas of business

22

Products

28

Research and development

34

Team members

40

Corporate responsibility

52

Executive Board

54

Board of Directors

56

Key figures

68

TradesPublisher: Hilti Corporation, Corporate Brand & Communication,
PO Box 333, 9494 Schaan, Liechtenstein
Editor-in-chief: Jessica Nowak
Editorial team / Text / Translation: Nicole Bays, Priya Ender,
Matthias Hassler, Chris Larson, Stephan Moosbrugger, Jessica Nowak
Design: Jeannine Merkli
Photography: William Alix, Sipa Press Agency (Paris, France); Brandon
Barnard Photography (Johannesburg, South Africa); Nathan Harmon
Photography (Tulsa, USA); Roland Korner, Close up AG (Triesen,
Liechtenstein); Ocean, Corbis; Uli Reitz, Hilti; Simpa Networks (Bangalore,
India); Bhupinder Singh, Vandana Movies (New Delhi, India)
Printed by: BVD Druck + Verlag AG (Schaan, Liechtenstein)
Image processing: Miro Repro (Hamburg, Germany)
The Company Report is published in German and English. Duplication, even inpart, only with permission of the publisher.
The complete Financial Report, principles of corporate governance, a Group
organizational chart, list of consolidated companies and information on theMartin Hilti Family Trust may be found on the Internet at www.hilti.com.
Swiss Climate

climateneutral
printing

SC2012073001 • www.swissclimate.ch

4

Editorial2012 Hilti Company Report

Dear Readers,

We are very satisfied with our progress in 2012.
We not only maintained our growth trajectory, but
significantly increased profitability and markedly
improved cash flow in the wake of numerous restructuring and cost-saving measures.

tation of numerous initiatives, we are now leaner,more agile and considerably more robust than wewere in the past. This improved “fitness” will be
critical if we are to continue to thrive in the years
ahead.

There were major regional variations in economic
performance around the globe, however. Whilethe construction recovery in southern Europe continued to falter, we benefited from strong momentum in South and North America as well as Asiaand further expanded our solar business in North
America and Asia.

Our customers continue to be at the heart of everything we do as an organization and our longterm relationships with them are the backbone ofour business model. Through our innovative products, outstanding services and highly competentand motivated staff, we aim to offer our customers substantial added value and further sharpen
our already excellent market profile.

Nonetheless, we must continue to be vigilant in2013. The economic situation in Europe remains
difficult and activity in all sectors of the economy,
including construction, will remain sluggish until
the region’s underlying debt issues are solved. It
is thus more important than ever that we proactively prepare ourselves to meet these challenges.
With this in mind, we have concentrated our efforts in recent months on those segments that offer the best opportunities for sustainable, profitable growth and market leadership. Thanks to thehard work of our team and consistent implemen-

Pius Baschera
Chairman of the Board of Directors

We are optimistic about the year ahead. We are
well positioned, we know how to take advantageof the opportunities in both our core and growthmarkets, we possess the required expertise, andwe believe we are in tune with what our customers want. Furthermore, given the volatile environment in which we are operating and where theonly constant seems to be change, we are convinced that our entrepreneurial spirit and focus
on sustainability will set the stage for Hilti’s longterm success.

Bo Risberg
Chief Executive Officer

56Strategy
2012 Hilti Company Report

We are on track.
Bo Risberg, Chief Executive Officer: “With the right priorities andinitiatives, we will be able to take full advantage of our potential
and further increase profitability.”7

Sustaining theachievements.
Hilti successfully concluded
the 2012 business year amid
a significant trend reversal. Increased sales of five percent
and a substantial improvementin profitability bear witness tothe company’s impressive year.
This success should continue in2013, albeit once again with numerous challenges: volatility inthe economic environment anda weak economy in Europe will
likely linger into the foreseeable
future. The world’s growth regions will continue to gain significance although they will face
both highlights and lowlights.

Mr. Risberg, how satisfied are you with lastyear’s results?
Bo Risberg: 2012 was a very successful year for
us despite the challenging environment we faced.
In addition to the positive sales result and a significant increase in profitability we also greatly improved the company’s cash flow. The achievements of 2012 are also based on our ongoing
pursuit of many important strategic initiatives,
successfully introducing numerous new innovations to the market, and on us consistently pushing forward with our program of internal measures. It was very hard work by our whole global
team but, in the end, the effort was worth it.

8Strategy
2012 Hilti Company Report

ably increasing the company’s value: sustainableprofitable growth and capital efficiency. There are
five areas of emphasis at the heart of the issue that
focus on selected market and customer segments,
on activities that further underscore the loyalty of
our customers, our differentiation and our competitive strength, as well as on the development of ourteam and on the continuous improvement both of
our productivity and our cash flow.
What do you expect to see in 2013?
Bo Risberg: It’s certainly not going to be an easy
year. Construction activity in Europe will remain
weak, held back by the debt crisis in Southern Europe. Irrespective of budgetary risks, the economy
in the USA will continue to improve gradually andthe growth dynamic in Asia and Latin America will
increase slightly. The market should develop similarly to last year and we are counting on slightsales growth and further improvement in both return on sales and return on capital employed.

Hilti continues to follow ambitious goals despite the difficult environment. What factors
give you a sense of optimism?
Bo Risberg: We did our homework and are following a clear strategy. By focusing on our priorities
we will continue to gain market share in the segments where we see profitable growth opportunities. Differentiation is our strength both in terms ofinnovation and in high-quality products and services. For us, it’s about creating enthusiastic customers and we see large potential in following thiscourse.
How will Hilti additionally solidify its financial
strength while continuing to gain market share?
This will require both saving and investing.
Don’t these aims contradict one another?
Bo Risberg: No, they don’t. It’s all about setting thecorrect priorities. Our strategy is aimed at sustain-

After seven years as CEO you are scheduled tohand over your post to Executive Board Member Christoph Loos on the basis of the company’s internal regulations. What changes are to
be expected?
Bo Risberg: In the past years Hilti has establisheda great deal of potential that we will profit from in
the future. As a longtime Member of the Executive
Board, Christoph Loos has contributed significantly to this potential. One of our strong points is being able to proactively and sustainably develop ourcompetitive advantage. In spite of the difficult environment, Hilti has always managed to find theright balance between securing short-term profitability and the long-term development of ourstrengths. We have also accelerated our flexibility,
in order to be more robust against adverse andvolatile market conditions. I am convinced that
Christoph Loos and his team will continue on thissuccessful path. With our competent and committed teams around the world, our innovative products and services, future-oriented ownership and aclear strategy we have a very solid basis fromwhich to develop.

9We build on partnerships.
Marco Meyrat, Executive Board Member: “Together with ourcustomers we are on a future-oriented path. This path is basedon mutual trust and reliability.”10

Customers
2012 Hilti Company Report

New construction activity
at ground zero in New
York. Two large fountains
now rest on the site where
the twin towers of theWorld Trade Center once
stood. The Memorial lists
the names of all the victims of the World Trade
Center terrorist attacks.

11

12

Customers
2012 Hilti Company Report

Working toward a common goal.
Skanska is a Hilti customer and one of the largest contractors on
the World Trade Center project in New York. Safety, an important
topic on the construction site, is an area where Hilti provides customers with significant added value.

Three questions for Mike Campana, Project Manager with
Skanska.

You’ve worked together with Hilti for quite some time.
Why is that?
We’re all pulling together. In the end, this is what counts. There’s noquestion that everyone has their own guidelines and framework, butwhat’s important is that everyone wants to achieve the same goal
and a win-win situation. On the one hand we’re a good and reliable
Hilti customer; on the other hand we profit from the comprehensive
service offering that the company provides. We find that working
with Hilti tools is more productive and that it makes us feel safer.
The technical service and the training sessions offered directly onsite are extremely valuable to our engineers and workers.
What are the biggest challenges you face with this project?
The entire project is demanding and complex. The quality and safety
requirements are extreme and the topic of firestop plays an important role. Hilti’s innovative products and know-how in this area help
to provide us with solutions for the appropriate applications.
What service do you appreciate more than others?
Reliability and well-functioning on-site support are very important on
a project like this one. Whether in terms of product availability or onsite consulting, a reliable partner, one that you completely trust, is anecessity.

13

14

Customers
2012 Hilti Company Report

Revival at ground zero.
Eleven years after the terrorist attacks on New York’s World Trade
Center, extensive development is visible at ground zero. After along planning period a collection of new buildings are going up,
including what will be the tallest building in the USA. This is a very
special project for Hilti.

It represents a new beginning in New York. New
towers are now beginning to rise on the groundsof the former World Trade Center in Lower Manhattan. Final plans call for five new high-rises tobe built at ground zero. The centerpiece is World
Trade Center Tower One which, at 541 meters, willbe the tallest building in the USA. Viewed in termsof feet, the building will be 1776 feet tall, a number that corresponds to the year that the UnitedStates declared its independence. A substantial
number of the planned 105 stories are already rising upward into the New York sky.
The complex of buildings surrounding the newhigh-rises will include the National September 11
Memorial & Museum, the World Trade CenterTransportation Hub and the Performing Arts Center. Jeffrey Dennis, Hilti Project Manager, and Mike
Campana, a Project Manager with Skanska, meetamidst this huge construction site to discuss suitable anchor solutions.
The Skanska construction group has some 500
employees on-site and is responsible for constructing the transportation hub, which will be
the transportation focal point at ground zero.
Once the hub is completed as many as 250,000
pedestrians will move through it each day. Until
then Skanska will use about 45,000 cubic metersof concrete and 10,000 tons of reinforcing steel
for the structure. They will also install 4,000 sprinklers and 35,000 linear meters of pipeline. Portions of the sprinkler systems, mechanical piping,steel reinforced concrete and steelwork will be assembled and set with Hilti expansion anchors andthe Hilti HIT-RE 500-SD injectable adhesive mortar
system. Many of the joints and metal pipe pene-

trations through walls and floor decks will be
sealed with CP 601S elastic firestop or FS-ONE
firestop sealant.
Jeffrey Dennis and his team have looked after
Skanska’s needs on the construction site from theoutset, ensuring that all the required Hilti material
is on-site when it is needed. “I’m very pleased withthe close cooperation we have with Hilti. This typeof partnership is very important,” says Campana.
For Hilti, this cooperation is more than mere consulting and solution sales. Jeffrey Dennis and his
team also organize important anchor, direct fastening and firestop installer training sessions for
Skanska workers.
“Safety and firestop are central topics for thisconstruction project and our solutions are theproducts of choice all over the construction site,”says Dennis. One reason for this is the close collaboration Hilti has with the owner of the project,
the Port Authority of New York and New Jersey.
“Thanks to our cooperation with the Port Authority
and their planning team our products are known
throughout the site and we’re able to provide numerous fire protection solutions for all World Trade
Center sub-projects,” adds Dennis. He and fellow
Hilti Project Manager, Tom Fletcher, are supported
by a 15-person team from Hilti North America
con­sisting of Account Managers, Regional Mana­
gers, Field Engineers, Fire Protection Specialists,Engineers and Customer Service Representatives.
Construction work at ground zero is scheduled toconclude in 2020. “It’s hectic and the time pressure
is incredible. But it’s fantastic to be a part of it andto see the new life that’s going up here,” concludes
Dennis as he runs off to see his next customer.

15

16

Areas of business2012 Hilti Company Report

The Kusile thermal power plant is being built
some 100 kilometers
east of Johannesburg.
This enormous construction site, in the country’s
coal region, covers
some 5,200 hectares.

We are on-site.
Christoph Loos, Executive Board Member: “The Energy and Industry
Business Area offers attractive prospects for the Hilti Group. From theplanning phase right through to installation, we support our customers
in countless construction projects around the globe.”

17

18

Areas of business2012 Hilti Company ReportComplexity requires a strong
partner.
By building two smokestacks the Concor-Karrena construction
joint venture is significantly involved in the creation of the Kusile
thermal power plant in South Africa. Hilti is on the construction site
supporting the company in its demanding work.

Three questions for James van
Zyl, Planning Engineer with
Concor-Karrena.

Kusile will be one of the largest coal-fired power plants in theworld. What significance does the plant have for the region?
Electricity is in scarce supply even though the South African economy is back on a solid growth path. Currently there are massive investments being made in the country’s energy infrastructure and theKusile power plant is one of them. When completed, the plant will
supply electricity to the South African electrical grid for years to
come.
What are the greatest challenges when working on a mega
project such as this?
One of them is the enormous size and complexity of this type of facility, requiring a great deal of interaction between various contractors. We are working in shifts around the clock six days a week,
which requires a high degree of coordination and flexibility. A great
deal of attention is also paid to safety.
Why do you choose to work with Hilti?
In addition to reliable tools and applications Hilti also offers a comprehensive spectrum of services. Kevin Dupuy, our Hilti ProjectManager, and his team are always on-site and they provide us withsupport, whether it’s competent advice or the on-time availability of
the Hilti materials we require. Hilti also has a mobile training centerfor product and safety training sessions on-site, which is invaluable
to us.

19

Energy for South Africa.
The South African national electricity provider, Eskom, is building the Kusilebase load thermal power plant east of Johannesburg. With a total output rating of 4,800 megawatts this will be the fourth-largest coal-fired power plant in
the world. The first of six 800 MW-rated turbines should be ready for commercial operation in 2014. Hilti Key Project Manager Kevin Dupuy looks after
numerous customers participating in the construction of the power plant,
including the Concor-Karrena joint venture.

20

Areas of business2012 Hilti Company Report

The dimensions of the construction site are enormous. It covers an area large enough to hold 7,400
football fields. One of the largest coal-fired power
plants in the world should go fully onto the grid in
2018, providing several million households andlarge industrial sectors with electricity. Consistent
growth is prescribed for South Africa and its economy in the coming years. One of the reasons forthis economic expansion is the planned investment in infrastructure by the state, which requires
a great amount of energy. The investments required for a new power plant are also quite high.
One of the new generation plants, located some
100 kilometers east of Johannesburg, is Kusile,which can be translated as “sunrise”. Six generators having a total output of 4,800 MW are to bebuilt over a construction period spanning from2008 to 2018. The first generator, having an out­
put of 800 MW, should go online in 2014.
Hilti is a much sought-after partner on large projects such as Kusile on the basis of the company’s
many years of experience in the Energy and Industry Business Area. “On this construction site alone
we look after some 27 customers having about
4,000 employees,” says Kevin Dupuy, who moved
from Durban to Johannesburg more than two years
ago with his wife and children. As a Key ProjectManager for Hilti he is exclusively responsible forthis project and is at the construction site all weeklong. It is here that he looks after the needs of Hilti
customers such as Concor-Karrena. The joint venture company is responsible for the constructionof two smokestacks and has been a Hilti customer
since construction work began. “In addition to the

products, which have to withstand the harshest of
conditions, safety aspects and the correct training
for our employees were decisive in our choosing
to work with Hilti,” says James van Zyl, a Planning
Engineer with Concor-Karrena. At the beginningof the construction work the customer purchased
some 50 Hilti combihammers and breakers equip­
ped with Active Torque Control and Active Vibration Reduction. “The contractors as well as the
Kusile execution team also place a great deal ofsignificance on the strict observance of valid national health and safety standards,” says van Zyl.
It was important to him that training to set the anchors that were used would take place directly on
the construction site.
To meet these and other requirements during theindividual construction phases, Kevin Dupuy is aconsistent presence, offering advice and assistance. But he is not alone. He is backed by an international team of Hilti specialists and engineers
who support the Scots native regarding productspecifications and technical planning, among othertopics. As project manager, Dupuy is mainly responsible for comprehensive on-site customer service; whether organizing training sessions, presenting new products on the construction site or
reliably ensuring that all the required Hilti products
are available whenever they are needed. Jamesvan Zyl appreciates the cooperation with the specialists from Hilti. “Kevin is always there when weneed urgent help,” he says. “This direct customer
relationship is a great advantage for us and makes
it possible to find the right solution to meet all thedaily challenges and hurdles.”21

Although still empty shells,
thousands of people will soon
reside in Saviour Park. Until
then Hilti’s new DD 160 diamond coring system will makecountless penetrations.

22

Products
2012 Hilti Company Report

We know what’s required.
Matthias Gillner, Executive Board Member: “Many catalysts fordeveloping products and services come directly from our customers.
Our products are also rigorously tested to ensure that they meetcustomer demands. This allows us to align our offering perfectly with
the needs of the market.”

23

24

Products
2012 Hilti Company Report

The product must generate
added value.
Hilti offers solutions that simplify customers’ everyday work on theconstruction site and that make their job safer, more efficient andmore productive. The most crucial test for these developments
often takes place directly on the construction site and under thecritical eye of the customer. The new Hilti DD 160 diamond coring
system is one such example.
Three questions for Siddhartha
Srivastava, Diamond Systems
Product Manager with Hilti
India.

The DD 160 diamond coring system is still relatively new. How
was this tool tested and introduced to the Indian market?
We tested five prototype tools at various construction sites throughout the country. Our sales employees gathered weekly feedback
from customers who were using the tools. In personal visits I also
asked all these customers about the product’s performance and theinitial experiences they had made. Overall we received valuable
feedback from our customers and also carried out live, on-site
demonstrations.
What characteristics of the DD 160 were critical in convincing
customers to use it on the Saviour Park residential construction
project?
Most of the coring penetrations for this project had a diameter of
122 millimeters and a depth of 200 millimeters. The new diamondcoring system perfectly covers these types of applications. Customers were very satisfied with the system’s simple and quick assembly
and its performance, largely because the performance level represented an upgrade for them that translated into faster work.
What do you think of the DD 160’s potential for use on otherconstruction projects?
The DD 160’s simple and uncomplicated handling, along with theminimal weight, allow smaller construction companies, tradesmen
and electrical installation companies to carry out coring applications
on their own, without having to subcontract this type of work to other, specialized companies. The DD 160 is an outstanding machinethat will also have a great appeal in markets other than India.

25

Ten thousand holes in the wall.
India has its own dimensions.
There are 1.2 billion people inIndia, making it the second
most populous country in theworld after China. This outsize
dimension can also be seen in
new construction projects. Saviour Park is a modern housingdevelopment currently underconstruction and it includes
roughly 1,000 housing units. The
new DD 160 diamond coring
system is among the numerous
Hilti solutions used on the construction site.

26

India’s economic boom continues unabated. Rapidly growing industrial cities such as Ghaziabad,located some 30 kilometers to the east of New
Delhi, require more places for people to live. In
August 2011, ground was broken on the Saviour
Park housing development. The project consistsof four separate building complexes, each madeup of 14 stories and having extensive outdoor facilities. It is currently one of the largest construction projects in the city. “The modern facility will
eventually be surrounded by green and will haveseveral large swimming pools and a separate
sports hall,” explains Vinay Garg, Project Manager
for the Indian construction company Savfab Buildtech, the project’s general contractor.
Savfab Buildtech has been a Hilti customer for
many years. Numerous Hilti products are being
used in the Saviour Park project, including the
new DD 160 diamond coring system. “When we
presented the new tool to the customer at theProducts
2012 Hilti Company Reportconstruction site, they were impressed by its performance and rapid assembly, above all,” remembers Siddhartha Srivastava, the responsible Product Manager with Hilti India. He adds, “The tool isalso perfectly suited for the type of applications
carried out here.”
The DD 160 was primarily designed with wet coring jobs in mind, and for creating exact penetrations for plumbing, heating and ventilation pipes
as well as fresh and wastewater pipes. And thisis what it’s being used for in the residential housing project in Ghaziabad. When the project is finished in 2016, some 10,000 core drillings will havebeen made for the numerous penetrations required in reinforced concrete decks and walls.
Until now the construction company had to hireother companies to do this type of work. “TheDD 160’s simple handling allows our own foremen

to complete the core drilling and we are no longer dependent on specialist companies. This
helped cut our costs greatly,” says Garg.
The system’s light weight (16.3 kg including drilling stand) and the modern three-speed gearing allow for optimal torque on both large andsmall coring diameters. The LED performance indicator makes it easier to maintain optimal coring speed, which significantly enhances the lifetime of both core bits and the system as a whole.
There is still a great deal to be done at Saviour
Park before all the coring has been finished and all
the apartments have been outfitted. But the project manager is optimistic: “We have good people
and good equipment on the job. And we always
know that Hilti provides us with first-class services
in terms of technology, advice and products, evenwhen things get a bit tricky.”27

Load tests under extreme conditions. Hilti’s
products are tested fortheir seismic stability in a
global research network.

We keep getting better.
Stefan Nöken, Executive Board Member: “Our significant investments
in research and development pay off, resulting in innovative products
and new safety standards for the future of the construction industry.”28

Research and development2012 Hilti Company Report

29

30

Research and development2012 Hilti Company Report

Serving practical applications.
Extreme conditions are often required to see just how good a
product is. At Hilti, seismic research is therefore aimed at continuously improving construction industry product standards and making buildings more resistant to earthquakes.

Three questions for Ulrich
Bourgund, Approvals andRegulations Manager foranchors.

How significant is research at Hilti?
Hilti is known for its strength of innovation. As a result, basic and applied technology research have long been the cornerstones in termsof our product development. Customers and the environment provide us with impulses and ideas for future innovations. Our ongoing
research activities allow us to optimally adapt to new requirements
and needs, helping to accelerate development processes.
What influence does seismic research have on productdevelopment?
Seismic loads call for specific construction guidelines and regulations in terms of the nature of products; our research results provide
us with the basis for our developments. If we’re trying, for example,
to develop an anchor with higher performance values, the research
results will flow directly into the product development process.
What targets does Hilti have regarding seismic research?
We’re trying to make building structures more earthquake-resistant,
thereby safer, for the people that will occupy them. This is why it’s
important for us to draw the attention of industry, institutions and authorities to the performance of our products, convincing them of how
safe they are.

31

Standing up to extremes.
Countless numbers of people live at the base of volcanos, inregions subject to tornados or in continental plate regions subject
to seismic activity. As these people live with the constant dangerof natural catastrophes, it is in the interests of the constructionindustry to try and enhance structural protection. Hilti is a partner
in numerous associated global research projects.

32Research and development2012 Hilti Company Report

Hilti has intensively been involved with seismic research for more than six years. “The main focus ison improving the safety of buildings; the stability ofa building structure is often decisive in whether aperson survives a natural disaster or not,” says
Ulrich Bourgund, Hilti Approvals and Regulations
Manager for anchors. Hilti products such as mechanical anchors are tested around the world, in
Hilti’s own laboratories, in a global research network with universities and in external test labs.
They are tested to gauge their behavior when subject to seismic loads. The test results flow directly
into product approvals and guidelines for use inEurope, America and Asia. Hilti actively participatesin their development. “These regulations state, forexample, the performance characteristics that ananchor must have in order for it to be used in an area subject to earthquakes,” explains Bourgund.
In early 2012, an unusual simulation was carriedout in San Diego, California, a location chosen for
its proximity to one of the most active seismic areas in the world. Researchers constructed a fivestory building on a giant “shake table” and thensimulated a series of earthquakes having a magnitude of up to 8 on the Richter scale. One floorof the building contained a complete replica ofa hospital operating theater, including all associated equipment and devices. Hospitals are urgently required after earthquakes and should, if
at all possible, remain functional. To make thesimulation as realistic as possible the test building was set on fire after the earthquake simulations. Researchers studied how the structuresand non-bearing systems of a multistory building behaved in an earthquake. Valuable information was gained on the effects of a large earthquake and this information will subsequently flow
back into research and development activities.
The series of tests in San Diego was prepared overa period of three years by several research teams
and 50 different companies. Hilti was involved fromthe outset and the building was equipped exclusively with Hilti fastening and firestop systems.
These included anchors, installation systems for all
types of piping, anchor channels for elevator shaftsand various firestop products used to close off pipeand electrical penetrations and building joints. Hilti
was interested in how the components would interact when exposed to significant seismic activity.
“We wanted to better understand the complex interactions that emerge within a building system
during an earthquake. This included how fastening
and firestop elements and installation systems interact during or after a catastrophic event,” says
Bourgund. “Individual product tests can’t provide
this level of detail.”
The type of large-scale simulation like that in California makes it possible for Hilti research and development teams to build up greater reserves ofknow-how and competence. “We can’t prevent
earthquakes, but by providing technical advice andcorresponding products we can make buildings
somewhat safer and, in the end, this saves lives.
This is a good feeling,” concludes Bourgund.

33

Teamwork means
jointly contributing to
the company’s success and standing together when facing acrisis.

34

Team members2012 Hilti Company Report

We offer perspectives.
Jörg Kampmeyer, Executive Board Member: “Corporate success andpersonal accomplishment go hand in hand at Hilti. Experiencing growth
together also means meeting challenges together.”

35

36

Team members2012 Hilti Company Report

The good feeling of working
for the right company.
Hervé Castagnac has worked for Hilti for more than 13 years. He
loves his work and appreciates the possibility to get things done,
especially in tandem with the company.

Three questions for Hervé
Castagnac, Quality Repair
Expert, Paris.

How has your career path at Hilti unfolded?
My Hilti career began in 1999 as a laser technician. I developed overthe course of my career and faced new and different challenges.
Performance and commitment are honored at Hilti. Since the end of
2012, I have been a Quality Repair Expert, responsible for optimizing
the defective tool repair process.
What motivates you to do your job?
The work within the team and the feelings of getting things done andcontributing to the success of the company drive me to do what I do
every day. The very difficult situation we faced in the aftermath of thefire at our Tool Service Center showed me another Hilti quality thatstrengthened my belief that I’m working for the right company. The
mutual support and the pragmatic, engaged problem solving, acrossinternational frontiers, were simply wonderful to experience.
What’s most important to you in your daily work?
Our motto is customer satisfaction. It’s therefore our goal to fix damaged tools as quickly as possible and to get them back to the customer as soon as we can.

37

Making a strong, fresh start.
Almost two years ago fire completely destroyed Hilti France’s Tool
Service Center and central warehouse complex. This “state of
emergency” was a significant challenge to local employees. But
the critical situation clearly showed that Hilti’s values of integrity,
courage, teamwork and commitment are not merely empty
words.

Hervé Castagnac was speechless as he stoodlooking at the burned-out building. On the morning
March 13, 2011, a fire had destroyed workplaces
and paralyzed the entire repair process for customers in France, Belgium and Luxembourg. For
years Castagnac and his colleagues had repaired
tools at the center. “We had to find a solution as
quickly as possible and we also needed to completely re-organize as a unit. Our main goal wasto keep the customer service, which Hilti is known
for, up and running,” remembers Castagnac.
Without any hesitation Castagnac and a team of
18 mechanics traveled to Hilti’s Tool Service Center in Alcalá, Spain, where they vowed to cover theassignments of as many of French customers as
they could. Repair orders of other French, Belgium
and Luxembourg customers were transferred to
Hilti locations in Bebra, Germany, and Carpiano, Italy. The entire ordering and distribution processes
were also shifted to distribution centers in Alcalá
and in Oberhausen, Germany. “We were all pullingin the same direction,” says Castagnac in praising
the job of everyone involved. “Our colleagues inGermany, Italy and Spain backed us up unconditionally and gave us a lifeline in what was a very
difficult period. This was the beginning of many agreat friendship. Everyone was working nights or
double shifts or over weekends to manage the influx of orders. We were, and still are, very thankful
for the solidarity our colleagues showed.”

38

The period after the fire was not easy. A high degree of flexibility, strong nerves and improvisational talent were required of the French workforce.
“In a similar situation other employers might havedecided to move the center’s location somewhere
else and to simply let the workers go,” says Castagnac, “but all our jobs were saved, a fact that allowed us to continue to look ahead despite thedifficult circumstances.” To be able to move forward at all, Hilti France established a temporary
location in rented quarters. The Liechtensteinbased global IT unit also went the extra mile, very
quickly re-establishing all necessary processes
and making it possible for repairs to again be carried out in France. A mere three weeks after thefire, some 80 percent of French assignments wereonce again being completed at the makeshift Tool
Service Center.
A new Tool Service Center was eventually built inFrance. In March 2012, it was opened amid festivities attended by about 100 very happy employees. Today the new center, covering an area of approximately 8,800 square meters, completes morethan 1,000 orders every day. “We now work withthe most modern technology available and all ofour processes have been optimized. Under these
conditions we are even more efficient than in thepast,” says a happy Hervé Castagnac. “It’s a new
beginning for us all. Despite all the difficulties weencountered, we realized that we have company
values that we can build on.”Team members2012 Hilti Company Report39

We want to be trailblazers.
Egbert Appel, Managing Director of the Hilti Foundation: “Acting
responsibly means enabling people to shape their own future.”40

Corporate responsibility
2012 Hilti Company Report

The Hilti Foundation supports the
Umculo / Cape Festival project inSouth Africa. The goal is to provide an opportunity for talented
young singers, coming from disadvantaged circumstances, tofurther develop their abilities.

41

42

Corporate responsibility
2012 Hilti Company Report

Hilti clearly recognizes the significance of corporate responsibility. The obligation to manage
the company conscientiously, and to balance financial growth with ecological, social and personal responsibility, is reflected in Hilti’s mission
statement: “We build a better future.” Corporate
responsibility is therefore an integral part of thecompany’s strategy. It is expressed in five segments: team members, user health and safety,social responsibility, the environment as wellas compliance and business ethics.
Corporate success largely depends on the commitment of qualified and motivated employees.
Hilti provides its team members with an attractive
vocational environment that allows them to develop their wide-ranging abilities while building on
professional experience. The company’s outstanding training programs help identify potential whichis then encouraged and individually developed.
User health and safety enjoys the highest priority at Hilti. The company continues to develop innovative products and solutions that help
to reduce the dust, noise and vibration burdens
faced by the user. Targeted training and instruction aid customers and employees alike in developing the correct and safe way to operate
and handle Hilti products, resulting in safer construction sites, healthier workers, added efficiency and greater productivity. Internal medical
training sessions focusing, for example, on ergonomics, are offered in an effort to prevent healthor medical problems at employee workstations.
At Hilti, being financially successful also means
consistently pursuing social responsibility. Thisobligation is overseen by the independent Hilti

Foundation, which was founded in 1996. The
Foundation supports projects around the worldthat provide disadvantaged people with newperspectives, showing them that they too can leadan independent life of self-determination. The Hilti
Foundation’s commitment focuses on six selectedareas: affordable housing, community development, culture, disaster relief, education and social
entrepreneurship. All Foundation activities arecarried out in tandem with regional projects
sponsored by Hilti’s local country organizations,ensuring effective and consistent support.
To ensure that the diverse habitat remains intact
for future generations Hilti committed to the United
Nations’ Caring for Climate initiative in 2007. In doing so the company agreed to reduce its ecological footprint. Uniform environmental standards
ensure that natural resources are handled efficiently, both in all Hilti processes and in the daily behavior of employees. Hilti is also working together
with customers and institutions in further developing a product offering specifically for the growing“green building” sector.
Wherever Hilti operates, the company is committed to following applicable rules, respecting ethicalvalues and acting in a sustainable manner. These
mandatory guidelines are anchored in a Code of
Conduct and apply equally to management, otherteam members and to suppliers and partners. One
significant emphasis is zero tolerance regarding
corruption and bribery. Compliance and businessethics are a strong component of Hilti’s corporate
culture and are demonstrated by the company’s
membership in the UN Global Compact and in thePartnering Against Corruption Initiative.

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43

We accept responsibility.
Our declaration to accept social and corporate responsibility canbe traced back to the founder of the company, Professor Martin
Hilti. Today an interdisciplinary team creates a framework for strategic sustainability management in all areas of the company.

44

Corporate responsibility
2012 Hilti Company Report

Team members“On September 21, 2012, we celebrated the beginning of construction on our company child care center, here in Schaan, with a symbolic ground-breaking ceremony. The Hilti child care center, or Kita,
is being built with the assistance of the Martin Hilti Family Trust andwill provide child and day care for up to 70 children aged fourmonths to four years. Parents will be able to place their child withcompetent specialists for an entire day, and at a location very close
to their workplace. This underscores our claim to be an attractive
employer, one which strives to provide the correct balance to its employees regarding professional and private life.”
Klaus Risch, Head of Global Human Resources

Environment“Results are now being seen from the successful
implementation, in 2011, of our three-year plan toreduce energy usage. Last year we reduced energy consumption in our production facilities by approximately 2,000 MWh. This result is due to theoutstanding cooperation of all Hilti production facilities. On the basis of this success we are now
creating a plan of action for our worldwide warehouse network. The systematic integration of environmentally relevant aspects is also being moved
forward in our product development processes. In
research and development, for example, we already see an influence on new products, ensuringthat these products meet Hilti’s internal Clean-Tec
designation, meaning that they are particularly environmentally compatible.”Peter Cavada, Manager Corporate Health, Safety & Environment

User health and safety“The safety of people using our products and the health of our customers and employees have always been focuses at Hilti. One of lastyear’s highlights was the intensive cooperation we had with a groupof leading worldwide construction companies and the Fraunhofer Institute IAO as part of a study on avoiding construction site accidents.
The results gleaned were discussed at the Health, Safety and Environment Manager Conference that we regularly organize. We areproud of and gain motivation from the fact that we are a company
that continues to drive forward health-promoting measures and that
we are an active partner in a network that is widely acknowledged
throughout Europe.”
Peter Cavada, Manager Corporate Health, Safety & Environment

Compliance and business ethics“We carried out training sessions around the world
together with the Hilti Group’s 70 local compliancedelegates. Particular attention was given to thesubjects of anti corruption, anti discrimination andavoiding conflicts of interest. These training sessions also centered on the concrete needs of thecorresponding team and country-specific conditions while helping to strengthen Hilti’s centralcompliance strategy. We do not wait for shifts in
the regulatory and legal environments in countries
that have specific needs. We proactively move tobring Hilti’s high standards into the markets
through our business activities.”
Gernot Dresch, Chief Compliance Officer

Social responsibility“One of the central topics we pursued in 2012 was promoting social
entrepreneurship. In times of economic and social uncertainty it is all
the more important to encourage people who share and give life tothis approach through innovative ideas and concepts. Our many
years of cooperation with international partner organizations vouches
for the special consideration we give this commitment. Thanks to thebroad range of support, beginning with financial backing and extending to include know-how transfer, entrepreneurial consulting and linking with international networks in the social, economic and scientificareas, social entrepreneurship can be developed in all its many diverse spheres. This not only generates new business ideas that create jobs and training possibilities, but also forms a foundation for thesustainable, social and successful financial development of society;exactly what we are striving for.”Egbert Appel, Managing Director of the Hilti Foundation

45

The UN Global Compact.
The Hilti Corporation has been a signatory to the United Nations Global Compact since 2006 and subscribes to the ten universal principles for responsible
corporate management.

&5

46

Human rights&5

Labor norms• Hilti’s mission statement calls for responsible behavior toward team members, customers, partners and suppliers as well as toward society andthe environment. The Hilti Codes of Conduct for
employees and suppliers form guidelines for daily activity. Regular training, workshops and audits are carried out to ensure consistent implementation.
• Strengthening the corporate culture was again asignificant focus for Hilti in 2012. Hilti’s highly developed culture and values of integrity, courage,
teamwork and commitment are regularly emphasized in corporate culture workshops.
• Hilti’s position as an attractive employer (Hilti, aGreat Place to Work) was again fortified by bothinternal and external surveys. Hilti’s internal
Global Employee Opinion Survey, or GEOS, ischaracterized by a consistently high participation
rate and very good results. Hilti also achieved
top positions in external surveys at the national
level. These include first place in Ireland and second place in Australia.

• Hilti promotes the well-being of its employees. A
specialist physician for occupational medicine, atcorporate headquarters in Liechtenstein, supports and advises employees in preventing workrelated illnesses. They also provide immunizations for employees who travel, and counselingto employees returning to work after illness- or
accident-related absences.
• Employee health support is also being further expanded at Hilti’s international locations. Employees in the USA, for example, may take advantage of a comprehensive health screening at nocost. In addition to a blood analysis, team members are eligible for a full physical exam as wellas cancer screenings. This helps to identify possible health problems early on and allows forcorresponding preventive measures andtreatment.
• Hilti also is strengthening its efforts to hire talented younger women by hosting various activities.
These include programs promoting young women and technology, which showcase various apprenticeships to female students, introductions
to practical training programs, and encouraging
female students to choose technical areas ofstudy. The overall goal is to increase the numberof women in the company in the future.

GRI Indicators
LA8: Education, training, counseling, prevention and risk-control
programs in place to assist workforce members, their families orcommunity members regarding serious diseases.
HR2: Percentage of significant suppliers and contractors thathave undergone screening on human rights and actions taken.

GRI Indicators
HR6: Operations identified as having significant risk for incidents
of child labor, and measures taken to contribute to the eliminationof child labor.
HR7: Operations identified as having significant risk for incidents
of forced or compulsory labor, and measures taken to contributeto the elimination of forced or compulsory labor.

Corporate responsibility
2012 Hilti Company Report&5

Environmental protection&5

Combating corruption• In 2012, Hilti saved a significant amount of energy worldwide, amounting to 2,000 MWh. This result reflects the successful implementation of anenergy efficiency initiative in all of Hilti’s worldwide production facilities in 2011. Teaching andtraining each employee, the ongoing collection
and analysis of data as well as the consistent
management and control of all activities, form asolid basis for this effort.
• Research and development processes have also
been further optimized and supplemented withenvironmentally relevant aspects, including theconsideration of 20 key criteria such as resourceand energy efficiency and the avoidance ofwaste. Additionally, life cycle and product carbon footprint analyses supplement every product introduction with comprehensive environmental data.
• Hilti supports ecological construction methods
and offers a range of products having particularlyhigh environmental standards. This competenceis reflected in the fact that the Hilti MM channel
installation system was nominated for the German Federal Ecodesign 2012 Award, which identifies products that are particularly energy- andresource-efficient.

• The main emphasis of the company’s compliance activities in 2012 was formed by the Groupwide implementation of revised anti-corruption
guidelines and corresponding reporting and approvals processes. The application of these internal guidelines, regulating, among other things,
the offering, giving and receiving of benefits,
such as gifts, took place in compliance workshops that trained roughly 90 percent of the employees in more than 70 countries.
• Zero-tolerance for corruption and bribery also
forms a central part of the new global Code of
Conduct that was published in 2012 and replaces the previously-valid brochure on business ethics. The code encompasses the most importantcompliance regulations and is available at www.
hilti.com.
• In addition to these measures Hilti implemented
a new, specialized and central case management
system. This provides employees in 70 different
countries with external compliance helplines in
40 different languages. The helplines support
employees having questions and also offer the
possibility to monitor legal positions, either online or via telephone, in case of doubt.

GRI Indicators
EN3: Direct energy consumption by primary energy source.
EN5: Energy saved through environmentally friendly use and increased efficiency.
EN7: Initiatives to reduce indirect energy use; savings made.
EN8: Total water withdrawal separated by source.
EN16: Entire direct and indirect greenhouse gas emissions byweight.
EN18: Initiatives to reduce greenhouse gas emissions; results
achieved.
EN22: Total weight of waste by type and disposal method.
EN26: Initiatives to mitigate environmental impacts of products
and services, and extent of impact mitigation.

GRI Indicators
SO4: Actions taken in response to incidents of corruption.

47

Corporate culture.
The people at Hilti
Based on its highly developed corporate culture, Hilti offers employees outstanding career opportunities in a worldwide group. In 2012, employees invested
24,000 working days in corporate culture workshops.

2012

2011

2010

2009

24,00024,00032,00018,000

7.6

8.5

10.3

7.6

Fluctuation

15%

14%

13%

15%

Number of working days that employees
used for corporate culture workshops
Expenditure for corporate culture
workshops (in CHF million)
Integration success rate*

78%

83%

83%

74%

Open management positions filled with internal
candidates

88%

81%

85%

85%

Number of apprentices worldwide

348

366

360

341

−3%
21,139+3%
21,848+3%
20,305−6%
19,709

Employees (at December 31)* The integration success rate measures the number of employees
who joined Hilti in the last two years and are still employed at thecompany.

Employees exhibit a high level of identification and commitment
A survey of Hilti employees worldwide is carried out once a year. In
2012, the participation rate of the Global Employee Opinion Survey(GEOS) was 90%.
Favorable

Neutral5%

Unfavorable
1%

7%

2%

6%
13%

94%

91%

94%

are willing to do
the utmost for Hilti

48

81%

91%

are proud to workfor Hilti

81%

would recommend Hilti
as a great place to work

Corporate responsibility
2012 Hilti Company Report

Suppliers.
Hilti suppliers sign a Code of Conduct
All potential Hilti suppliers must complete a comprehensive
audit before they are considered an official partner of thecompany. A total of nine areas, including technology, quality
and efficiency, are monitored in the process. Additionally,
every new Hilti supplier must sign the Code of Conduct for

Suppliers, which obligates them to observe the principles of
ethical behavior. One of these principles is the obligation toobserve a zero-tolerance policy regarding any type of corruption or bribery.

Suppliers of direct production materials and allied suppliers

2012

2011

Suppliers who have signed the Code of Conduct

100%

100%

Share of suppliers audited through the end of 2012
Existing suppliers*

100%

97%

New potential suppliers

100%

100%

0%

8%

Additional share of suppliers* subject to a Code of Conduct compliance audit
by an external, accredited partner in addition to undergoing the evaluation
audit
Improvement potential was agreed upon with audited suppliers* as appropriate. The implementation of thisimprovement will be monitored.
Suppliers of indirect production materials
In November 2011, Hilti hired a new global supplier for merchandising articles and clothing. As part of this shift
a majority of the company’s production orders were rebid in 2012. Particular emphasis was placed on monitoring and auditing the production facilities of the new partners (Asian clothing manufacturers in particular),including auditing without advance notice. All new producers were certified and are subject to documentation
requirements. Additionally, all new manufacturers of clothing are evaluated by an independent, internationallyrecognized auditor.

* These suppliers account for over 90% of the procurement volumeof direct production materials and related products.

49

Key environmental data.

CO2 emissions of Hilti Group

Comments(in t) CO2 equivalents

2009

120,000

2010

2011

2012

87,304

99,31797,507100,000
80,00060,00040,00020,00087,209Market organizations (top 13)

In 2012, the Hilti Group’s CO2 emissions
fell by roughly 2% compared to the previous year. Factors contributing to this result included the energy-saving efforts at
production facilities as well as the usageof more fuel-efficient automobiles byHilti’s sales force.

PlantsCO2 emissions per employee(in t)

12

2009

2010

2011

2012

4.56

4.30

4.55

4.61

10
8

The slight increase in CO2 emissions per
employee is primarily due to the fact thatthe company had fewer employees in2012 than in the previous year.

642Energy consumption in the Hilti plants(in MWh)

120,000

2009

2010

2011

2012

69,634

81,93981,04880,287100,000
80,00060,00040,00020,000Electricity

50

Gas

Oil

The successful introduction of an energy
efficiency program (for lighting, heating,ventilation and air-conditioning) at theGroup’s production facilities resulted in afurther reduction in energy consumption.

Corporate responsibility
2012 Hilti Company Report

Comments

Fuel consumption in the top 13
market organizations(in million liters)

2009

2010

2011

2012

18.90218.93619.11118.91830
25
20

The consumption of diesel fuel and gasoline in the Hilti Group’s 13 largest market
organizations was further reduced in 2012
through the consistent usage of more fuel-efficient vehicles.

15
105DieselGasoline

Water consumption(in m3)300,000

2009

2010

2011

2012

124,825

140,836

177,962

168,415250,000
200,000
150,000
100,000

The innovative recycling system for rinse
water used in the galvanizing process
at one of Hilti’s plants in China resulted
in a reduction in water consumption
amoun­ting to 30 percent. Overall, water
consump­tion fell by 5.7 percent.

50,000Total waste production(in t)

12,000

2009

2010

2011

2012

5,911

6,672

6,851

6,753

10,000
8,000
6,000
4,000
2,000

Materials continue to be recycled by local
companies according to the latest recycling methods. In principle, all organizational units and production facilities arecharged with reducing waste. This has
once again had a positive effect on the
total amount of waste.

Note
Key data for Hilti’s production facility in Mexico has been integrated into the figures for 2011 and 2012.

51

The Executive Board.

52

Bo Risberg
Chief Executive Officer
Wollerau, Switzerland
Bo Risberg (born 1956, Sweden) has been CEO
since January 1, 2007. He trained as a mechanical engineer at Queen’s University in Canada andthen acquired an MBA at IMD in Lausanne. From1981 to 1995 he worked in various positions with
the ABB Group before working for a consulting
firm between 1995 and 1999. He joined Hilti in1999 as Head of the Drilling and Demolition Business Unit. From 2001 to 2006, as a Member ofthe Executive Board, he was responsible for theBusiness Areas, the Supply Chain comprisingproduction, sourcing and logistics and New Business & Technology. Bo Risberg is a Member ofthe Board of Directors of Trelleborg AB, Sweden,
Grundfos Holding A/S, Denmark, Poul Due Jensen Foundation, Denmark, and IMD, Switzerland.

Jörg Kampmeyer
Vaduz, Principality of LiechtensteinJörg Kampmeyer (born 1968, Germany) has beena Member of the Executive Board since April
2011. He is responsible for the Finance, Human
Resources, IT and Corporate Development units.
Jörg Kampmeyer studied mechanical engineering and economics at RWTH Aachen University after which he worked as a Management Consultant. He began his Hilti career in 2002 as the
Head of Corporate Development in Schaan. From2003 to 2005, he was responsible for the company’s worldwide marketing activities before heading the German Market Organization in 2006 and,as of 2010, the Market Region Central Europe.

Matthias Gillner
Grabs, Switzerland
Matthias Gillner (born 1967, Germany) has been a
Member of the Executive Board since April 2011.
He is responsible for the Electric Tools & Accessories, Corporate Research & Technology and Global
Tool Service units. Matthias Gillner studied chemical engineering at Friedrich-Alexander University ofErlangen-Nürnberg, Germany. He was then employed by a consulting company from 1993 to
2000. During this time he acquired an MBA at
INSEAD in Fontainebleau, France. He began his
Hilti career in 2000 as the Head of Corporate Development. After leading Corporate HR he wasnamed Head of the Measuring Systems Business
Unit in 2003. From 2006 to 2011, Matthias Gillner
was Head of the Electric Tools & Accessories Business Area. Matthias Gillner is Member of the Boardof the European Power Tool Association (EPTA).

Dr. Christoph Loos
Schaan, Principality of Liechtenstein
Christoph Loos (born 1968, Germany) has been a
Member of the Executive Board since 2007. For
four years he has been responsible for Finance,
HR and IT. Since 2011, he is in charge of Emerging Markets and the global Energy and Industry business. After finishing his studies of business administration at the University of St. Gallen
he has worked for an international management
consultancy in Germany and China. Upon joining
Hilti in 2001, he first led the Corporate Development team, after which he established the Strategic Marketing unit. At the end of 2003, he moved
to Germany, first as a Regional Sales Director andthen as General Manager of Hilti Germany. Christoph Loos is a member of the Board of Trustees of
the St. Gallen Foundation for International Studies.

Executive Board
2012 Hilti Company Report

The Executive Board (from left): Marco Meyrat, Christoph Loos, Matthias Gillner, Bo Risberg,
Jörg Kampmeyer and Stefan Nöken at the construction site of Hilti’s new Innovation Centerin Schaan, Liechtenstein.

Marco Meyrat
Chur, Switzerland
Marco Meyrat (born 1963, Switzerland) has been a
Member of the Executive Board since the beginning of 2005. He is responsible for the markets in
Europe and North America. With a business degree from the University of St. Gallen, he began
his career in 1989 as Product Manager at Hilti
headquarters in Schaan. After holding various positions in Hilti France and Hilti Germany, he wasnamed Head of Hilti Switzerland in 1999 and was
subsequently appointed General Manager of Hilti
Germany in 2002. Marco Meyrat is Chairman of
the Board of Directors of OLMeRO AG, Glattbrugg.

Dr. Stefan Nöken
Mörschwil, Switzerland
Stefan Nöken (born 1965, Germany) has beenon the Executive Board since the beginning of
2007. He is responsible for the Fastening & Protection, Global Logistics and Corporate Intellectual Property units. Following studies in mechanical engineering at Aachen University, where
he earned a doctorate, he was employed at the
Fraunhofer Institute for Production Technology
in Aachen. In 2000, he joined Hilti as the Head ofCorporate Engineering. In 2004, he was appointed Head of Supply Chain Management. Stefan
Nöken is a Member of the Board of Trustees of
the Fraunhofer Institute for Production Technology in Aachen and Vice President of the Forum for
Supply Chain Management at the ETH Zurich.

53

The Board of Directors.

Prof. Dr. Pius Baschera
Chairman of the Board of Directors
Zurich, Switzerland
Pius Baschera (born 1950; re-elected to serve until
the 2013 Annual General Meeting) is Chairman of
the Board of Directors. He studied mechanical engineering and business administration at the Swiss
Federal Institute of Technology (ETH) Zurich, where
he earned his doctorate. In 1979, he came to Hilti
as Head of Financial Controlling in the production
area. Before being named Chairman, he served as
CEO for 13 years. He is currently a Member of theBoard of Directors of F. Hoffmann-La Roche Ltd.,Basel, and the Schindler Group, Hergiswil. He also
is a Member of the Advisory Boards of Vorwerk &Co., Wuppertal, and Ardex GmbH, Witten, Chairman of the Board of Directors of Venture Incubator
AG, Zug, and a professor of Corporate Management at the Swiss Federal Institute of Technology
Zurich.
Michael Hilti
Schaan, Principality of Liechtenstein
Michael Hilti (born 1946; re-elected to serve until
the 2015 Annual General Meeting), son of company founder Professor Martin Hilti, has been a
Member of the Board of Directors since 1990. After studying business administration at the University of St. Gallen he worked in banking in London
before joining Hilti in 1974 as the Deputy Head ofMarketing. Two years later he was named to thecompany’s Executive Board and he served as CEO
from 1990 to 1993. He was Chairman of the Boardof Directors from 1994 to 2006. Michael Hilti is a
Trustee of the Martin Hilti Family Trust and President of the Board of the Hilti Foundation.
Prof. Dr. Giorgio Behr
Buchberg, Switzerland
Giorgio Behr (born 1948; re-elected to serve until
the 2015 Annual General Meeting), Honorary Professor at the University of St. Gallen, was previously a Member of the Board of Directors of the
Hilti Corporation between 1993 and 2007. Since
January 2008, he has been a Trustee of the Martin
Hilti Family Trust and in January 2009 he wasagain elected to serve on the Board of Directors of54

the Hilti Corporation. Giorgio Behr is the Chairmanof the Supervisory Board of ZF Friedrichshafen
AG. He gained his doctorate degree at the law
school of the University of Zurich, was admitted tothe bar and obtained a diploma as a Certified Public Accountant. Today he is an entrepreneur in theindustrial sector (Behr Bircher Cellpack BBC
Group).
Kim Fausing
Sonderborg, Denmark
Kim Fausing (born 1964; elected to serve until the2013 Annual General Meeting) was elected to theBoard of Directors in 2010. He earned a degree inmechanical engineering at Aarhus Teknikum, in
Denmark, in 1987, and an MBA degree at Henley
Management School, in London, in 1996. His professional career led him to the Hilti Group in 1990,
where he served in various management functions
in Europe and Asia until 2007. After moving to theDanish Danfoss Group, he was named Chief Operating Officer and Member of the company’s executive committee in January 2008. He also is a Director of Sauer-Danfoss Inc., of the German-Danish
Chamber of Industry and Commerce and Vice
President of the Velux Group in Copenhagen.
Heinrich Fischer
Rüschlikon, Switzerland
Heinrich Fischer (born 1950; re-elected until the2013 Annual General Meeting) has been a Memberof the Board of Directors since 2007. He graduated in 1973 with an engineering diploma from the
Swiss Federal Institute of Technology Zurich, having studied electrical engineering and technicalphysics. He then went on to study business administration at the University of Zurich while working in this field, earning a master’s degree in 1976.
Beginning in 1977, he held senior management
positions at Oerlikon Bührle Holding, Balzers AG(1980 to 1989), and finally at Oerlikon Holding
once again (1990 to 1995). From 1996 to 2007, he
was Chief Executive Officer at Saurer AG, Arbon.
Heinrich Fischer is a Member of the Board of Directors at Schweiter AG, Tecan AG, Orell Füssli AG(Chairman) and Sensirion AG.

Board of Directors
2012 Hilti Company Report

The Board of Directors (from left): Michael Jacobi, Tis Prager, Michael Hilti, Pius Baschera, Giorgio Behr,
Heinrich Fischer and Kim Fausing on the occasion of their visit to Hilti North America’s Training Center in
Tulsa, Oklahoma.

Dr. Michael Jacobi
Binningen, Switzerland
Michael Jacobi (born 1953; re-elected until the2013 Annual General Meeting) was elected to theBoard of Directors in 2007. He studied businesseconomics at the University of St. Gallen and at
the University of Washington, Seattle, and earned
his doctorate from St. Gallen in 1979. From 1978
until 2007, he held various management positionsin the financial area of Ciba Geigy AG and later in
Ciba Specialty Chemicals Inc., Basel. He was
Global Chief Financial Officer from 1996 until 2007.
Today Michael Jacobi is an independent corporate
consultant. Since 2003, he has been a Member ofthe Board of Directors of Sonova Holding AG, Stäfa, and since December 2008 a Trustee of the Martin Hilti Family Trust. He was named to the Boardof Directors of Actelion Pharmaceuticals Ltd.,
Allschwil, in 2009.

Dr. Tis Prager
Zumikon, Switzerland
Tis Prager (born 1948; re-elected until the 2013
Annual General Meeting) has been a Member ofthe Board of Directors since June 1, 2006. He
earned a doctorate in law from the University of
Zurich in 1975, was admitted to the bar of the
Canton of Zurich in 1978 and is a founding member of the Prager Dreifuss law firm in Zurich andBern. Among other mandates, Tis Prager is the
Chairman of the Board of the IE Engineering GroupAG, Zurich, Hotel Zurich AG (Marriott), Scherer &Bühler AG, Meggen, and Emil Hitz AG, Bassersdorf. He is also a Member of the Board of Directors of Bourquin SA, Couvet, and Caprez Ingenieure AG, Chur, and is active in STEP, the Societyof Trust and Estate Practitioners.

55

56

Key figures2012 Hilti Company Report57Significant strengthening of
profitability and cash flow.
On the basis of 5.2 percent sales growth in 2012, the Hilti
Group was able to substantially improve its operating result, which rose by 45 percent in the year under review.
Net income doubled, increasing 101 percent. This growth
was due in large measure to the rapid implementationof the profitability enhancement program launched at theend of 2011.

The economic environment was challenging in
2012. While relevant southern European markets
continued to contract, most countries in central
and northern Europe, including the important
market of Germany, performed robustly. The Hilti
Group profited from solid economic momentum inSouth and North America as well as Asia. Construction activity tapered off slightly in parts ofeastern Europe and the Middle East (including in
Dubai).
Positive sales growth
The divergence in growth trajectories was also
reflected in the sales results of the various Hilti
regions. Double-digit growth rates were achievedin North and Latin America (13.4% and 32.4%,
respectively, in local currencies), where successful
marketing and sales activities enabled the firm togain additional market share. The Hilti Group could
not evade the continued severe economic downturn in southern Europe – primarily in major markets like Italy and Spain –, and this ultimately
caused sales to drop slightly in Europe as whole(−1.9%).
Eastern Europe posted double-digit sales growth,
driven largely by activity in Russia. Political58

instability in certain countries in the Near/Middle East and Africa led to a decline in sales whilebusiness in other markets (including Saudi Arabia and South Africa) was very favorable. Positive
momentum in the Asia /Pacific region translated
into a correspondingly high growth rate (+9.5%).
The Hilti Group’s relatively new business relating
to fastening solutions for the solar industry also
showed a mixed picture. While the Group reported significant growth in the USA and Asia, sales
declined in Europe due to the sharp market downturn. Overall, sales for the solar sector fell slightly.
Following distinctly negative currency effects in
2011, the Swiss franc stabilized in 2012 – albeit ata persistently high level. Local currency trans­lation
had a slight positive impact on growth (+0.8%). In
Swiss francs sales increased by 5.2 percent to
CHF 4,204 million.
Higher gross margins and productivity
Hilti’s significant innovative strength and superior product differentiation, as well as its efforts
to lower product costs, allowed the Group to
increase its gross margin despite challenging market conditions in some regions. Productivity alsoKey figures2012 Hilti Company Report

improved further at all stages of the Group’s value
chain. The cost-saving measures at Hilti Corporate
Headquarters and the restructuring of sales units
in southern Europe, as well as in other individual markets, were implemented according to plan.

Innovation Center at Corporate Headquarters, free
cash flow also achieved a record of CHF 363 million. Return on capital employed (ROCE) improved
from 6.5 to 9.5 percent due to the aforementioned
measures.

Combined, these measures led to an increase inreturn on sales (ROS) from 5.2 to 7.1 percent. Currency effects on the 2012 operating result werelargely neutral due to relative currency stability andthe successful implementation of internal initiatives.

High liquidity and solid balance sheet figures
Cash and cash equivalents increased to
CHF 1,303 million. Interest-bearing debt stoodat CHF 866 million at the end of 2012, down by
CHF 76 million. Short-term bank borrowings
amounted to CHF 142 million (+29 million), while
long-term bank borrowings were CHF 64 million(−17 million).

Significant cash flow improvement
The Hilti Group devoted a good deal of energy to
improving capital efficiency in 2012. The averagecollection period on customer accounts, for example, was reduced by six days (9%). As a result, theratio of net working capital to sales improved from27 to 22 percent. With 4.4 percent sales growth inlocal currencies, the Group managed to reduce net
working capital by CHF 150 million, further accelerating the positive trend set in previous years.
In line with strengthened profitability, cash
flow from operating activities reached a record
CHF 617 million. Despite higher investments,
largely associated with the construction of the new

The CHF 300 million bond that matured in 2012
was partially replaced by a EUR 175 million promissory note bond. This instrument, having maturities between three and seven years, was issued
at attractive conditions and enjoyed significant
demand. Alongside refinancing, this issue allowed
the Hilti Group to achieve a better balance between euro-denominated receivables and liabilities. In addition to this promissory note bond, theHilti Group maintains two additional bonds on the
Swiss capital market, having maturities in 2013
(CHF 150 million) and 2014 (CHF 300 million).

59

Net liquidity rose to CHF 437 million. Despite once
again experiencing a negative effect, amounting to
CHF 69 million, related to the valuation of pension
fund obligations according to IFRS, the equity ratio
stood at 50 percent at the end of 2012.
In 2012, various restructuring measures were carried out to bolster the company’s pension fund.
These measures – in conjunction with improved
investment performance – took the coverage ratio
back above the 100 percent mark (end of 2011:94%).
The Board of Directors recommends a dividend
payment of CHF 131 million for the 2012 businessyear (2011: 47 million).

60

OutlookThe Hilti Group remains cautiously confident about
its prospects for 2013. While growth momentum
slowed slightly in 2012, primarily due to developments in southern Europe, the Group’s strong level of differentiation, very positive performances inNorth America as well as in the emerging markets,should ensure that sales continue to grow, albeit
in the lower single-digit range.
The profitability enhancement measures taken in2012 will continue to feed through into 2013. Barring large-scale economic upheaval, these initiatives and our capital efficiency drive should ensurethat the Hilti Group continues to increase in value.

Key figures2012 Hilti Company Report

Key figures.
Cash flow fromoperating activities (in CHF million)

Net sales (in CHF million)
6,000

2008

2009

2010

2011

2012

700

5,000

600

4,000

500

3,000

400

2,000

300

1,000

200
4,700

3,845

3,930

3,998

4,204

Operating result (in CHF million)
600

2008

2009

2010

2011

2012

600
500

400

400

300

300

200

200

100

100
172

268

207

301

Research and development
expenditure (in CHF million)
300

2008

2009

2010

2011

2012

24,00022,000200

20,000150

18,000100

16,00050

14,000
182

172

2010

2011

2012

437

487

376

242

617

184

2008

2009

2010

2011

2012

243

78

142

97

194

Employees (as at December 31)

250

189

2009

Net income (in CHF million)

500

450

2008

175

2008

2009

2010

2011

2012

20,994

19,70920,305

21,84821,139Please note
The following pages contain extracts from the 2012 Financial Report of the Hilti Group. Because these pages do notcontain the full consolidated financial statements, they do
not present complete information about the financial position, financial performance and cash flows of the Hilti
Group for 2012. Complete information, including the notes
to the consolidated financial statements, is contained in the2012 Financial Report which will be available on theGroup’s website (www.hilti.com) from late March 2013.
The full 2012 consolidated financial statements, which areincluded in the 2012 Financial Report, have been preparedin accordance with international financial reporting standards (IFRS).

61

Consolidated balance sheet of Hilti Group as at December 31 (in CHF million)
ASSETS
2012

2011

Intangible assets

371.3

394.4

Property, plant and equipment

748.5

746.4

2.2

6.8

Investment property
Investments in associates and joint ventures

13.3

12.1

Deferred income tax assets

147.0

130.4

Other financial investments

17.2

16.6

Trade and other receivables

349.1

312.0

Derivative financial instruments

19.2

43.5

1,667.8

1,662.2

Inventories

555.3

615.9

Trade and other receivables

Total non-current assets

897.5

930.6

Current income taxes receivable

8.3

14.4

Accrued income and prepayments

82.9

47.6

Derivative financial instruments

9.0

8.2

Financial assets at fair value through profit or loss

35.8

26.4

1,302.7

1,062.5––

Total current assets

2,891.5

2,705.6

TOTAL ASSETS

4,559.3

4,367.8

Cash and cash equivalents
Assets classified as held for sale62

Key figures2012 Hilti Company Report

EQUITY AND LIABILITIES2012
Non-controlling interest

2011

14.3

13.0

Equity attributable to equity holders of the parent

2,282.3

2,198.9

Total equity

2,296.6

2,211.9

Provisions

80.0

108.7

Pension and termination benefit obligations

337.5

303.2

Deferred income tax liabilities

28.6

29.8

Bonds

510.3

447.8

Long-term bank borrowings

64.3

81.2

Trade and other payables

22.0

24.7

Derivative financial instruments

0.9

1.4

1,043.6

996.8

Provisions

116.8

51.4

Trade and other payables

315.6

278.0

Current income taxes payable

92.2

98.4

Accrued liabilities and deferred income

399.7

304.8

Bonds

149.7

299.8

Short-term bank borrowings

141.7

112.7

Derivative financial instruments

3.4

14.0

Total current liabilities

1,219.1

1,159.1

Total liabilities

2,262.7

2,155.9

TOTAL EQUITY AND LIABILITIES4,559.3

4,367.8

Total non-current liabilities

Equity comprises share capital (176,000 registered shareswith par value of CHF 500 each) and participation capital(774,400 participation certificates with par value of CHF 50
each) as well as reserves.

All of the registered shares and participation certificates are
owned by the Martin Hilti Family Trust.

63

Consolidated income statement of Hilti Group (in CHF million)

Net sales

2012

2011

4,203.6

3,997.5

Other operating revenues

83.3

73.9

Total operating revenues

4,286.9

4,071.4(56.1)

62.4

Material costs

Change in inventory(1,282.1)(1,418.0)

Personnel expenses(1,688.1)(1,572.1)(196.2)(215.8)Depreciation and amortization
Other operating expenses(763.9)(720.7)

Total operating expenses(3,986.4)(3,864.2)

300.5

207.2

1.4

2.4

Other revenues and expenses (net)(15.7)(33.2)

Finance costs(56.2)(57.5)Net income before income tax expense

230.0

118.9

Income tax expense(36.0)(22.4)Net income

194.0

96.5

192.5

94.1

1.5

2.4

Operating result
Share of profit / (loss) of equity-accounted associates and joint ventures

Attributable to:Equity holders of the parent
Non-controlling interest

The notes to the consolidated financial statements, that immediately follow the consolidated cash
flow statement, are an integral part of, and should be read in conjunction with, the consolidated balance sheet, the consolidated income statement, the consolidated statement of com­prehensive income and the consolidated cash flow statement.

64

Key figures2012 Hilti Company Report

Consolidated statement of comprehensive income of Hilti Group (in CHF million)
2012

2011

194.0

96.5

Gains/(losses) on cash flow hedges taken to equity

2.2

(2.1)

(Gains) / losses on cash flow hedges transferred from equity to
income statement

1.3

(9.3)

(68.8)(91.8)

Foreign currency translation differences(6.7)(34.5)

Deferred tax on items taken directly to or transferred from equity

11.0

13.9

Other comprehensive income(61.0)(123.8)

Total comprehensive income

133.0(27.3)

131.9(30.2)

1.1

2.9

Net income per income statement

Actuarial gains / (losses) on defined benefit plans

Attributable to:Equity holders of the parent
Non-controlling interest

65Consolidated cash flow statement of Hilti Group (in CHF million)
2012

2011

Net income

194.0

96.5

Depreciation and amortization

196.2

215.8

Adjustments for non-operating transactions

104.7

127.3

Cash flow from operating activities before interest, tax andworking capital changes

494.9

439.6

(Increase) / decrease in inventories

56.1(62.4)(Increase) / decrease in trade receivables

57.2(54.9)

Increase / (decrease) in trade payables

21.3

20.7

(Increase) / decrease other net operating assets

82.9

(3.8)

Cash flow from operating activities before interest and tax

712.4

339.2

5.4

7.1

Interest paid

(56.2)(57.5)

Income tax paid

(45.0)(47.3)Cash flow from operating activities

616.6

241.5

Capital expenditure on intangible assets(61.9)(87.9)

Capital expenditure on property, plant and equipment(125.6)(123.7)–(7.2)(11.1)

9.1

2.0

–

Interest received

Acquisition of subsidiaries(Increase) / decrease in financial investments
Disposal of intangible assets

5.2

7.9

(Increase) / decrease in finance lease receivables

Disposal of property, plant and equipment(61.9)(67.4)Cash flow from investing activities(253.3)(269.2)

Increase in long-term bank borrowings

0.4

26.7

(Decrease) in long-term bank borrowings(12.7)(10.1)

1.0

3.2

Increase in long term loans(Decrease) in long term loans

(1.2)

–

Increase / (decrease) in short-term bank borrowings

28.2

18.8

Increase in bonds

210.9

–

(Decrease) in bonds(300.0)–

Increase / (decrease) in liability to shareholder

–

(0.4)

Dividend paid

(46.9)(71.0)Cash flow from financing activities(120.3)(32.8)

Effects of exchange rate changes on cash and cash equivalents(2.8)(11.4)

Total increase / (decrease) in cash and cash equivalents

240.2(71.9)Cash and cash equivalents at January 1

1,062.5

1,134.4

Cash and cash equivalents at December 31

1,302.7

1,062.5

66

Key figures2012 Hilti Company Report

Key figures of Hilti Group
2012

2011

2010

2009

2008

Results (CHF million / %)
4,204

3,998

3,930

3,845

4,700

Depreciation and amortization

Net sales

196

216

213

200

185

Operating result

301

207

268

172

450

Net income before tax

230

119

167

136

308

Net income

194

97

142

78

243

Return on capital employed (RoCE) in % (operating result)

9.5

6,5

8,2

5,4

15,5

Return on equity (RoE) in % (Net income)

8.6

4.3

6.0

3.2

9.9

Cash flow from operating activities

617

242

376

487

437

2,297

2,212

2,304

2,396

2,429

Balance sheet (CHF million / %)Total equity

50

51

54

55

58

Total non-current liabilities

Total equity in % Total equity and liabilities

1,044

997

1,172

1,135

829

Total current liabilities

1,219

1,159

817

795

946

188

212

209

283

290

1,120

1,141

1,162

1,101

1,024

547

521

434

414

386

Capital expenditures on Intangible assets and on Property,
plant and equipment
Intangible assets and Property, plant and equipment
Other non-current assets
Current assets

2,892

2,706

2,697

2,811

2,795

Total assets

4,559

4,368

4,293

4,326

4,204

Dividend*

131

47

71

–

96

21,13921,84820,305

19,70920,994

Employees (as at December 31)* As proposed by the Board of Directors

2012 sales growth year on year

Europe excl. Eastern Europe

2012

2011

ChangeChangein CHF million

in CHF million

in CHF (%)

in local currencies (%)

2,138

2,240

−4.6

−1.9

North America

858

712

20.5

13.4

Latin America

156

118

32.2

32.4

Asia / Pacific

561

488

15.0

9.5

Eastern Europe / Middle East / Africa

491

440

11.6

8.9

4,204

3,998

5.2

4.4

Hilti Group67

The Hilti trades.

68

Building construction
The innovative tools and accessories we supply to the construction industry are as varied as theapplications in this field. Hilti
supplies a range of products formeasuring, drilling, chiseling,
cutting, grinding or fastening aswell as special solutions for applications such as rebar connections or formwork in construction, renovation and demolition.
Being matched system components, these products offer outstanding performance, reliability
and high efficiency. Health andsafety always have priority, andour well-proven dust removal, vibration reduction and active
torque control systems provide
highly effective protection for theuser.

Civil engineering
One of Hilti’s aims in civil engineering is to provide the ability tocarry out demolition or heavychiseling work quickly and safely.
Our powerful and durable tools
provide high reliability in this field.
Many of our products, including
time-saving fastening solutions,are also approved for use in sensitive environments such as in theatomic power industry. Criticalfastenings designed to take uphigh loads or post-installed rebar
connections can be installed withexceptional reliability thanks tofield-leading technological developments and the experienced
advice offered by Hilti Engineers
at the planning stage or on theconstruction site.

Steel and metal
Steel and metal construction
specialists expect peak performance – and achieve it with oursystem solutions. With our
know-how and aids such as anchor design software we also
support planners and contractors in this business. Whether
leveling, aligning and anchoring
steel structures, fastening profile metal roofing sheets and façade panels or installing railings
or canopy roofs, we are theone-stop shop for all requirements. We supply direct fastening systems, high-speed screw
fastening systems and versatileanchor solutions backed by abroad range of advanced, safety-tested and ergonomically designed tools – all in renowned
Hilti quality.

Hilti GX 90-WF gas-actuatedfastening tool with nails GX-WF

Hilti POS 180 robotic total
station with controller POC 100

Hilti ST 1800-A22 cordless metal screwdriver with S-MD self-drilling screwInterior finishing
Our goal is higher productivity
and greater reliability for contractors in every field of interior
finishing including drywall andceiling installation, tiling andfloor renovation as well as door
and window installation. Laser
tools for measuring and aligning, a comprehensive range ofdrilling tools and anchors, anddirect fastening and screw fastening systems for repetitive
use ensure top productivity andcost efficiency. Concrete surface finishing, keeping dust to aminimum, plus the use of special foams for insulation, filling,
fastening and soundproofing,are other areas in which our
know-how is in great demand.
Hilti’s product portfolio for interior finishers is rounded off by acomprehensive range of firestop products.

Plumbing, heating
and air-conditioning
The ability to work quickly andefficiently while achieving highquality, regardless of the application or the materials on
which the installation work is
carried out, is an essential everyday requirement for specialists in this field. The Hilti
product range offers a multitude of efficient solutions formeasuring and laying out fastening points, drilling anchor
holes, making penetrations inwalls and ceilings, and fastening pipes and ducts of all
kinds to walls, floors and ceilings. We also supply a comprehensive range of firestop
products designed to seal off
pipes and openings in theevent of fire.

Electrical
Hilti direct fastening systems
make electrical installation
work exceptionally efficient –and virtually dustless. The
comprehensive range of electrical fasteners supplied by
Hilti covers a broad spectrum
of applications in this trade,while highly effective dust removal systems for power tools
make slitting, cutting, drillingand chiseling on mineral materials of all kinds quicker, easierand more reliable. Hilti cordless tools for drilling, screwdriving and cutting set thestandard where maximum mobility is required in conjunction
with high performance andlong battery life.

Concrete sawing
and coring
Reliable equipment and dependable services are of great
importance to service contractors. Hilti is renowned not only
for innovative equipment andaccessories, but also for ontime delivery and quick repairs.
Our unique Hilti Fleet Management system guarantees availability of replacement tools at
all times, comprehensive services at calculable costs aswell as rental equipment tocover periods of peak demand. Hilti also manufactureswall saw blades and core bits
to customer specifications for
special applications. Training
for users in operating new
equipment plus expert advice
from Hilti engineers are justsome of the additional services
we offer.

Hilti GX 120 gas-actuated fastening system

Hilti AG 125-A22 cordless angle
grinder

Hilti CFS-SL firestop sleeveHilti DD 160 diamond coring system

Trades2012 Hilti Company Report

Natural resources
The combination of wideranging innovative technologies and a global presence
make Hilti the preferred partner of both the oil and gas
and the mining industries.
Hilti solutions not only
increase productivity, theyalso enhance safety and reliability – both for the construction professional andthe facility owner. Hilti’s
committed engineering
teams provide support
throughout the entire process, from the developmentof solutions until those solutions are deployed at theconstruction site.

Solar
The ability to install any
type of solar panel with
only six system components ensures high costefficiency and great
flexibility. The Hilti panel
mounting system consistsof preassembled, corrosion-resistant parts andthus ensures easy installation and long life. Hilti
know-how in structuraldesign and foundation
work combined with abroad range of innovative
products ensure therequired versatility forground-mounted solarparks as well as roof installations. Our experts withmany years of experience
provide support in planning, specification andproject management.

Power
One of our prime goals in
the energy industry is toprovide innovative solutions that boost productivity, increase reliability andminimize health and safety
risks. Hilti certainly has agreat deal to offer in thisfield. Our well-provendirect fastening methods
and flexible modular pipe
installation systems, forinstance, can make timeconsuming and costly
welding or tedious installation work unnecessary inmany cases. Offering
competent, on-the-spot
support with the planningand execution of complex
energy projects of all magnitudes, our specialists areat your service throughout
the world.

Hilti OneStep rock anchor

Hilti MSP-AL photovoltaic panel
mounting system

Hilti DX 351 BT powderactuated fastening toolwith X-BT threaded studWe help our customers to be
successful. We identify theirneeds and provide them with
innovative solutions featuring
outstanding added value.

Hilti. Outperform. Outlast.
www.hilti.com