Bossard Group reports that 2019 first quarter sales grew 5.4% to CHF 232.2 million (US$230.1 million) despite “markedly more challenging business conditions” and a comparatively high baseline, Fastener + Fixing Magazine reports.

Bossard credits the broad diversification of industrial segments it supplies as supporting the Group’s growth stability. The Group says its first quarter’s overall solid performance was all the more remarkable because it was achieved in a weakening economic environment as well as the comparative baseline from the previous year being very high.

Activities in Europe and Asia contributed substantially to the Group’s positive sales development, while business in America stagnated, Fastener + Fixing reports. European sales increased 5.1% to CHF 138.9 million (+7.3% in local currency), boosting market share despite lackluster economic conditions. 

After enjoying dynamic business development in America 2017 and 2018, Bossard sales growth stalled during Q1, according to Fastener + Fixing. U.S. sales dropped 4.9% to CHF 58.1 million due to subdued sales development with several major customers, which could not be compensated by “encouraging growth in new business.”

In Asia, Bossard benefited from preliminary work and capacity expansion in previous years, with first quarter 2019 sales growth of 16.6% to CHF 35.2 million (+17.7% in local currency). The main contributing regions were China and India. 

Bossard is targeting full year sales of CHF 900 to CHF 920 million, with first quarter sales on track. Web: Bossard.com