The Bossard Group again reached new sales records in the third quarter, benefiting from the positive economic environment and ongoing growth initiatives. Third quarter sales grew by 24.4% to CHF 249.5 million (around €232.5 million), previous year CHF 200.6 million. In local currency, growth was 23.3%, driven by continued momentum in all three market regions.
Supported by the broad-based economic upturn that began in the fourth quarter of 2020, the Bossard Group’s growth continued in the third quarter of 2021, as evidenced by strong double-digit growth rates in all three market regions. In addition to the positive economic environment, the Group also benefited from consistently high delivery capability to its customers and from further strengthening of its market position.
In Europe, Bossard recorded growth of 23.5% to CHF 140.2 million, (in local currency: +22.2%), and thus played a major role in the improvement of the result. The increased demand was supported by newly won customer projects in the focus industries of railway vehicle construction and medical technology.
Sales in America increased by 16.7% to CHF 59.5 million (in local currency: +18.1%). The positive business development was accelerated by the ongoing diversification of the customer base, among others in the electromobility sector.
In Asia, sales grew by 38% to CHF 49.8 million (in local currency: +33.2%). The growth initiatives in the robotics and electronics sectors led to further gains in market share. Solid positioning in various industrial segments also supported the strong growth.
Demand is expected to remain strong in the fourth quarter, although the purchasing managers indices signal that it may level off. The situation on the procurement market will likely remain tense in the fourth quarter.
By the end of the year, Bossard expects a further normalisation of the growth rate as the economic recovery progresses and that the Group will meet its announced sales and result targets for the financial year 2021. The outlook for the full year remains subject to uncertainties and risks as a result of the Covid-19 pandemic.
Having joined the magazine in 2012, Claire developed her knowledge of the industry through the numerous company visits, exhibitions and conferences she attended both in the UK and abroad.
Claire prides herself on keeping readers well informed and up to date with the latest industry news.