Industry News

Bossard Group sales for 2016 rose 5.9% to a record CHF 695.0 million (c EUR 647.5m), demonstrating says Bossard how its growth strategy is paying off.

Bossard says the positive trend was most striking in the fourth quarter in which sales grew 15.1% to CHF 181.7 million. Growth in the future was mainly by business in Europe, which grew 8.2% and America, which grew 38.9%. supported bythe acquisition of Arnold Industries, which was consolidated from September 1, 2016.

Bossard realised approximately 58% of its annual revenue in Europe, with 2016 sales of CHF 401.6 million, growing 4.7% on the previous year (+3.6% in local currency). Quarter 4 European sales were up 8.2% to CHF 96.0 million (+8.0% in local currency). Positive trends were seen in Switzerland, which had been impacted by its currency appreciation in 2015.

In America, 2016 sales rose 12.0% (+9.3% in local currency) to CHF 186.1 million. The Arnold Industries acquisition contributed two-thirds of Q4 growth (+38.9%) but Bossard also reported an overall solid performance from existing American business, which grew 15.3%. Sales resulting from the cooperation with the largest US electric vehicle maker were an important contributor to fourth quarter performance. Bossard also noted that demand from a major customer in the agricultural technology sector appeared to be slowly stabilising, with a less pronounced sales decline than previous quarters. American organic growth for the full year was 6.3%.

Asian 2016 sales grew 0.6% to CHF 107.3 million (+3.1% in local currency). The Quarter 4 sales trend was also upwards at CHF 30.4 million, a 3.4% increase in CHF (5.6% local currency). Bossard says its business did particularly well in China, where considerable investments had been made in recent years, posting sales growth in both Q3 and Q4 despite the "persistently challenging market environment".

Bossard Group’s full 2016 financial report will be issued on March 8.