3/5/2015 1:59:00 PM
NEWS BRIEFS
Bossard Reports “Consistent Improvement”
Bossard Group reported sales grew 2% to CHF 617.8 million in 2014, with gross margin gaining 4.4% to CHF 197.1 million and net income growing 2% to CHF 57.1 million.
“Last year’s investments produced a consistent improvement in results, particularly in Europe: remarkably, all European markets played a part in this growth.”
Sales in Europe increased 3.5% to CHF 394.7 million.
“Sales growth in Europe was adversely affected in the second half of the year by the weakening of the Euro, uncertainty surrounding the conflict in the Ukraine and sanctions against Russia.”
“Growth in the Asian market is particularly dynamic.” Sales in this region increased 12.3% to CHF 101.1 million.
Bossard said business “fell short of original expectations” in the U.S., where revenues fell 9.2% to CHF 122 million.
“This setback was mainly due to low demand from a major customer. In addition, the planned expansion of production by the largest US electric vehicle manufacturer went more slowly than at first anticipated. This cooperation will however lead to substantially increased sales volumes in the current year.”
For the year, operating profit improved to a record CHF 72.8 million, with EBIT margin increasing further from 11.5% to 11.8%.
“The orientation of the Bossard Group toward high-end products and services is clearly paying off,” stressed CEO David Dean.
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