Bossard Group reported net income for the first half 2017 at a record CHF 45.3 million, an impressive 44.7% improvement on same period 2016.
First half 2017 consolidated sales rose by 15% to CHF 395.1 million. Taking out growth from acquisitions sales grew 9.5% to CHF 376.1 million. The net income figure included an extraordinary income of CHF 4.5 million from the realisation of real estate from a former Austrian location.
European sales, which account for nearly 57% of Group total, increased to CHF 223.3 million, up 8.6% in local currency. Bossard noted that Switzerland made an important contribution having faced the challenges of the currency appreciation in 2015.
America business grew 32.3% to CHF 114.3 million, including from the acquisition of Arnold Industries, consolidated in Quarter 4 2016. Excluding Arnold, sales grew 17.4%, reflecting continued strong business with the US major electric vehicle maker a ‘bounce back’ from Bossard's second largest US customer, which operates in the agricultural technology sector.
Asian sales grew 16.2% to CHF 57.5 million. Bossard succeeded in growing sales in all market regions of Asia and in the majority of countries growth was double digit.
Bossard's detailed half-year report will be published on 22 August.
[CHF 100 ≈EUR 90.6 at interbank]
Will joined Fastener + Fixing Magazine in 2007 and over the last 15 years has experienced every facet of the fastener sector - interviewing key figures within the industry and visiting leading companies and exhibitions around the globe.
Will manages the content strategy across all platforms and is the guardian for the high editorial standards that the Magazine is renowned.
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