Bossard reported “a strong start” in the opening quarter of 2017. First quarter sales grew 16.1% to CHF 197.9 million (+16.8% in local currency), including 10.3% in organic growth during the period.

“The most striking growth rates were realized in America, where the cooperation with the largest US electric vehicle manufacturer continued to bear fruit,” the company stated.

Solid Sales in Europe

“The positive business trend that Bossard observed in the second half of 2016 persisted – particularly in Europe where the Group generates approximately 58% of its total revenue.”

Sales in Europe rose 10.2% to CHF 114.2 million (+ 11.7% in local currency).

“With this performance, Bossard achieved one of the best quarterly results in recent years,” the company stated. “Sales growth in Europe varied from country to country, but was evident in all markets.”

 

“Marked Growth” in America

Bossard saw its highest growth in America, where sales rose 29.9% to CHF 56.9 million (+28.4 percent in local currency). These figures include the acquisition of the U.S. company Arnold Industries, which solidified Bossard’s presence in the Northeast.

“Cooperation with the largest U.S. electric vehicle manufacturer (Tesla Motors), which is continually increasing its production volumes, is reflected in the substantially higher sales.”

Excluding the acquisition, growth in America was 15.5%. This development benefited additionally from the modest growth – the first in several quarters – with Bossard’s second major U.S. customer, which does business in the agricultural technology sector. 

 

Organic Gains in Asian

Business growth in Asia resulted in a sales increase 16.5% to CHF 26.8 million Q1. This growth stems in large part from the investments in modern capacities made in various countries over recent years. The Bossard Group posted growth across all sales regions in Asia, including the Chinese market. 

 

Outlook

Bossard CEO David Dean said the company estimates yearly sales in the range of CHF 750 million to 760 million, compared to CHF 695 million last year.