The Bossard Group faced a “challenging market environment” in 2019, with sales up 0.6% to CHF 876.2 million (US$905.3 million). When adjusted for acquisitions, sales fell 3.3%.

“In spite of the weaker economy, the trade dispute between the USA and China, and the increasing strength of the Swiss franc, the Bossard Group experienced continued growth in Europe and Asia,” the company stated.

“In America, the increasingly difficult economic conditions led to a marked decrease in sales.”

U.S. sales dropped 9.3% to CHF 218.4 million, including a 16.1% decline in the fourth quarter. Bossard said it concluded several customer projects that had stimulated growth in 2018. Likewise, a slowdown in the industrial sector affected demand from several major customers. And the product mix at Tesla “changed significantly with the third model series, which had a negative impact on the demand for Bossard products.”

Sales in Europe rose 3% to CHF 507.7 million, boosted by the acquisition of Germany-based BRUMA and the takeover of the Boysen fastener distribution business from the German AQUAERO Group. Without acquisitions, sales increased slightly by 0.5%.

Sales in Asia were significantly better, with revenue growing 9.4% to CHF 150.1 million. Excluding acquisitions, sales for the entire year grew 3.8%. Web: Bossard.com