Bossard Group has reported above expectation sales of CHF 812.8 million (€752 million) in 2020 (2019: CHF 876.2 million). In currency adjusted terms, this reflects a decrease of 3.3%. In Swiss francs, sales dropped by 7.2% as a result of the stronger Swiss currency.
After waning sales figures in the first nine months, the fourth quarter proved to be robust across all regions. Sales in the last three months totalled CHF 212.8 million, a gain of 6% in local currency over the comparison period (2.9% in CHF).
“The recovery we began to observe in the third quarter materialised starting in October, enabling us to close out the fourth quarter in all three market regions with positive growth compared to the previous year. In December, sales were particularly strong and well above our forecast,” stated Daniel Bossard, CEO of Bossard Group.
In Europe, sales in 2020 fell by 8.2% to CHF 466.2 million. The appreciation of the Swiss franc had a negative effect on the result, with the drop only 5.6% in local currency. Increasingly robust demand in the fourth quarter was clearly evident in Europe as well. Sales in local currency rose by 2.4% compared to the 8.9% drop in the third quarter. Adjusted for acquisitions, annual sales amounted to CHF 454.7 million.
Sales in America dropped 7.9% to CHF 201.2 million compared to the previous year. The recovery in demand in America in the second half of 2020 is reflected particularly in the figures for the fourth quarter: Sales totalled CHF 53.4 million, an increase of 9.9% in local currency (4.3% in CHF).
Sales in Asia were CHF 145.4 million, an increase over the previous year of 3.2% in local currency (-3.1% in CHF). In China the impact of the pandemic was most evident in the first quarter of 2020. Once restrictions were relaxed, the economy in the entire Asian region began to recover in the second quarter. With a double-digit sales increase of 11.9% in local currency (+6.5% in CHF), the fourth quarter in Asia proved to be very positive as sales reached CHF 42.4 million.
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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