Industry News

Bossard Quarter 3 sales slightly stronger than first two 07 December 2015

Bossard Group sales for the first nine months were CHF 498.4 million – up 5.9% year-on-year. Quarter 3 performance was slightly stronger than the first two Quarters.

Reporting on its third Quarter Bossard Group said it had further consolidated its market position as a result of acquisitions. Thanks to the investment policy sales for the first nine months increased 5.9% to CHF 498.4 million (approximately 458 million euros). Growth through acquisition offset the impact of the Swiss franc appreciation earlier in the year. Excluding acquisitions, sales were down 1.2% in local currency, translating to a 4.5% reduction in Swiss francs.

For the first nine months Bossard’s European business grew 4.8% in local currency, translating to CHF 294.7 million and a 3.1% year-on-year decline. Bossard said the figures reflected the difficult and inconsistent demand situation in some European markets, especially Switzerland where customers had been hit by the currency depreciation.
As a result of the acquisition of Aero-Space Southwest Inc, at the beginning of the year, American sales grew 36.4% to CHF 126.4 million. Underlying sales fell 3.2% in local currency but grew 2.6% in Swiss francs. In the third Quarter Bossard benefited from increased volume from the largest US electric vehicle manufacturer but continued to be confronted with lower demand from its second major customer, operating in the agricultural technology sector.
Bossard saw ‘pleasing growth’ from most Asian markets but this was dampened by business conditions in China. Although in China generally weak demand from existing customers was compensated for by new business.
Bossard projects its full year sales at around CHF 660 million, with an operating margin on par with the first half of the year. It expects business in Europe to continue to be uneven, with Swiss demand down on the previous year.

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