The hardware and industrial supply sector reaches 455 million euros in turnover in 2023, the highest figure in its history

Gipuzkoa, News

The companies associated with ESKUIN, Clúster de la Ferretería y el Suministro Industrial, made up of manufacturers of hand tools and locksmiths, achieved a turnover of 455 million euros at the end of 2023, which represents a growth of 2.8% compared to 2022 and an all-time record turnover.

“2023 has been a positive year in terms of turnover, despite the fact that we started the year with a lot of uncertainty due to high inflation and a turbulent international scenario. We have defended the figures well, which have rebounded year on year from their decline in 2020 to reach our record in 2023, although the number of units sold, as well as margins, have declined slightly. Although European economic forecasts were not particularly optimistic, the year started strongly. During the second half of the year, however, we have noticed a slight slowdown in sales,” says Pablo Izeta, president of ESKUIN.

Sales performance has been uneven in the domestic and international markets. While sales in the domestic market grew by 6.9%, reaching 222 million euros, exports fell by 0.9%, totalling 232 million euros.

In the analysis by client sectors in the domestic market, the industrial sector, which accounts for 41% of sales, is the sector that has grown the most, with a figure 10.9% higher than the previous year. Construction, with 52% of sales, grew by 5.5%. On the other hand, the third destination sector, agriculture, which represents 8% of sales, has suffered a 7% drop compared to the previous year, mainly due to the drought we are suffering in many areas of the country.

The distribution of international sales follows the trend of recent years: the European Union continues to be the main export market, accounting for 75% of the total, followed by America with 12%, the Middle East with 6%, Africa with 3%, Eastern Europe with 2%, and Asia and Oceania with 2%.

As for the main export destinations in 2023, France topped the list with 8.4% of total foreign sales, followed by the United States with 6%, Portugal with 4.6%, and Germany with 3%.

The sector maintains great stability in employment with a figure of close to 1,900 people employed, repeating the figure of recent years.


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