1/13/2010
Switzerland-based Bossard Group’s 2009 worldwide sales dropped 30.2% to CHF 395 million (US$387.3m).
Bossard pointed to fourth quarter sales as an indicator the market has “either stabilized further or improved noticeably, particularly in Europe and Asia.
Though Q4 sales were down, for the first time since the recession began sale were up from the previous quarter. “This very satisfactory development was better than anticipated and suggests the beginning of an upturn.”
Q4 sales totaled CHF 95.2 million (US$93.4m), down 24.5 % on Q4 of the prior year. In local currencies sales decreased by 20.7 %.
Europe
Although European Q4 sales were down 20.6% to CHF 54.6 million (US$53.5m) “they reached the same level as in the third quarter of 2009. A return to more stable demand is also apparent in the noticeably lower sales fluctuations compared to the entire year.
European sales for 2009 totaled CHF
224.5 million (US$220.1m); in Swiss francs this was 32.7 % lower than for 2008.
North America
Demand in North America was noticeably weaker in Q3 2009 – partially for seasonal reasons, but it stabilized at a low level in Q4.
North American Q4 sales dropped 34.2% to US$22.8 million.
Total 2009 sales in North America for
2009 fell 29.4% from 2008 to US$ 102 million.
Asia
The positive signs of an upturn in demand continued in the fourth quarter of 2009 as Q4 Asian sales were up 14% from Q3. Sales totaled CHF 17.6 million (US$17.3m).
For the entire year sales in Asia totaled CHF 59.9 million – down 20.9 % measured by Swiss francs.
“The outlook is more favorable given the developments over the past few months,” the Bossard announcement stated. “Some price increases in the procurement market and longer supply times underscore this assessment. It would, however, be premature to anticipate an early and broad- based recovery in the industrial sector.”
Bossard’s annual meeting will be March 10, 2010, in Zürich. Web: Bossard.com
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