Swiss fastening and power tool specialist Hilti is expecting a decline in profits for 2025, with the company citing the strong Swiss franc as a significant burden. The currency appreciation impairs the competitiveness of products priced in francs on international markets and puts pressure on operating margins. The announcement fits into an industry environment characterized by stagnant construction activity in core markets and high material and energy costs. This intensifies margin pressure for manufacturers of construction chemicals, fastening technology, and construction-related services in the current fiscal year.