Statistical certainties
If you are looking for positive signs in the market then we’ve got the magazine for you. This issue we have compiled a bunch of financial reports from some of the titans of the fastener and tool worlds, including Würth Group, Bufab, fischer, Travis Perkins, Bulten, SFS and NORMA. The positive news is that many of these heavy hitting companies and groups had a barnstorming year. Doubtless the positive results did not fall in their laps, they had to work hard to achieve it, but nevertheless, 2022 was not a dud.
But that was 2022, what about 2023, you may ask? Naturally these financial statements deal with the past, which isn’t always a great indicator of what is going to happen in the future. But, it does tell a tale of a very solid year’s trading in 2022 providing a base for these fastener and tool industry stalwarts. Some of those, for example Travis Perkins, have chosen to cut some of their outgoings in anticipation of a difficult 2023, but even in amongst those gloomy points, there have been investments in infrastructure, acquisitions and of course products.
In a sector that is bereft of solid statistics that tell the broader story of how the industry is doing, these financial reports are among the few genuine market indicators, as are market surveys from associations like BIAFD and others.
So, with healthy balance sheets for many of these significant fastener and tool companies, the market must surely therefore have some added stability going into Q2 2023. Rash moves from these fastener and tool titans, that might squeeze those further down the fastener supply chain, are slightly less likely than had 2022 not been such a success.
More broadly, economic forecasts also appear to be getting slightly less negative, with significant country economies narrowly avoiding recession. So while 2023 does not look like a walk in the park, but there are some positive factors to chew over, after all.
Jonathon Harker
Editor