4/8/2014 11:14:00 AM
NEWS BRIEFS
Bossard Group Posts Record Q1 Sales
The Bossard Group announced record sales for the opening quarter of 2013, boosted by “a clear increase in demand” in Europe and Asia, as well as additional business volume from existing and new customers.
Bossard sales rose 5.6% to CHF 161.5 million during the quarter.
“The European and Asian markets are currently decisively supporting the growth of Bossard,” the group stated. “Sales in America declined significantly primarily as a result of reduced demand from a major customer.”
Sales in Europe rose 8% to CHF 106.5 million, with growth seen in “virtually all of the company’s sales regions.”
“The substantial recovery in Europe is all the more important with regard to the overall result of the Group, as Bossard generates 66 percent of its sales in this region.”
However, sales in the U.S. declined 11.2% to CHF 34 million, “due to the weaker demand from a major customer.” Bossard noted that Q1 sales volume was higher than the second half of 2013.
“The recently announced three-year agreement worth USD 140 million that Bossard signed with the electric vehicle manufacturer Tesla will stimulate business in the second half of the year.”
Bossard reported “significant progress” in Asia, with revenues gaining 17.2% to CHF 21 million. Due to the related currency depreciation in some emerging markets, in Swiss francs sales increased only by 9.4 percent. “With the exception of India, all Asian countries experienced growth in sales, some at high double digit rates.”
For the year Bossard management predicts revenue growth of 5%-8%. ©2014 GlobalFastenerNews.com
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