Bossard Group releases its interim report for full year 2017, showing sales increased 13.1% to CHF 786.2 million - reflecting double digit growth in Europe, America and Asia.
In Europe, where Bossard obtains 57% of its revenue, fourth quarter sales grew by 16.1%. In America the Group's existing business contributed substantially to an 18.4% increase in sales. Bossard's Asia business posted an increased of 12.8%, clearly benefiting, the Group says, from recent years' investment in new capacities.
Bossard sees last year's performance as an impressive confirmation of its growth strategy, combining investment to develop new capacities and targeted acquisitions that consolidated its market positions in Europe and America.
During 2017 European sales saw a steady climb in growth rates quarter to quarter, culminating in full year sales of CHF 444.9 million, an increase of 10.8% over 2016. American sales increased to CHF 220.3 million in the year, attributable to both organic growth and acquisitions. Business with the largest US electric vehicle manufacturer continued to thrive, Bossard reports, and business with a major agricultural technology customer also contributed to a solid overall performance. Arnold Industries, acquired in September 2016, also contributed to sales growth.
In Asia, Bossard benefited from past development efforts that substantially expanded capacities in China, Thailand, South Korea and Malaysia. This increased presence in key industrial zones laid the groundwork for increased sales to CHF 121.0 million, a 12.8% year on year increase.
Bossard will publish its full annual report on 7th March 2018.
Having held senior management roles in leading automotive and fastener businesses, Phil joined Fastener + Fixing Magazine as editor in 2002. Convinced there is no substitute for ‘being there’, over 17 years of visits and interviews around the world means he has accumulated an extraordinary knowledge and perspective of the global fastener industry, reflected in his incisive and thought provoking reporting.
Don't have an account? Sign Up
Signing up to Fastener + Fixing Magazine enables you to manage your account details.
