1/15/2014 12:02:00 AM
NEWS BRIEFS
Bossard Group Sales Reach New High
The Bossard Group set a new sales record in fiscal year 2013, with sales climbing 25.2% to CHF 609.7 million (US$ ) – including 3.1% organic growth in local currency.
“Business was especially good in Europe, where we were able to decisively consolidate our market position thanks to the acquisition of KVT Fastening,” the company stated.
But Bossard also made inroads in Asia.
“We have been experiencing accelerated demand in this region since Q2 of last year.”
Overall fourth quarter results included a 24.5% sales increase to CHF 145.7 million.
“Encouraging is that the growth is not unilaterally due to acquisitions. Adjusted for the acquisition and sale of shareholdings, sales increased by 8.1 percent in local currency in Q4.”
During 2013 Bossard opened a new headquarters and distribution center in Cheonan City near Seoul, South Korea, completing the facility in just eight months. Spanning an area of over 11,000 m2, the new construction offers space for over 100 work stations, while the distribution center has capacity for over 1,200 tons.
Clear growth of European business
In Europe Bossard sales rose 46.3% to CHF 384.7 million in 2013.
“Without the increase in sales due to the acquisition of KVT Fastening, the Group experienced a modest decrease of 0.2 percent for the entire year,” Bossard stated. “This result is essentially explained by the difficult market environment at the beginning of the year, with sales in Q1 2013 still being 5.8 percent below those of the previous year.”
Fourth quarter sales in Europe increased 40.7% sales to CHF 91 million in the final quarter of the year.
“Without the acquisition of KVT Fastening we were able to book an 8.1 percent growth in revenue (+7.4 percent in local currency) compared to the same period in 2012, and the comparison is also positive in regard to the previous quarters.”
Sideways trend in the US
Annual U.S. sales edged up 0.3% to CHF 134.6 million.
“In total, U.S. business has developed well in recent years. The year 2013 marks a certain high-level consolidation.”
During Q4 Bossard generated U.S. sales of CHF 30.4 million.
“Not taking into account the divestment of Bossard Metrics Inc., this translated into a decrease of 1.5 percent in local currency. The fact that the sales trend tended slightly downwards can be primarily attributed to the declining demand of one major customer.”
Impetus from Asia
“Business in Asia has been developing well.”
Annual sales in Asia grew 11.1% to CHF 90.4 million.
Q4 in Asia saw a 19.6% sales volume increase to CHF 24.3 million.
Bossard employs more than 1,800 people in over 60 locations around the world.
Related Stories:
• U.S. Fastener Exports Outpace Imports
Share: