Amid the “tough challenges caused by the COVID-19 pandemic,” the Bossard Group reported sales dropped 7% to CHF 812.8 million (US$918.3 million) in 2020.

“The worldwide lockdown in March of 2020 caused parts of the world economy to slump, as reflected in the figures from the first half of the year,” stated CEO Daniel Bossard.  “In contrast to the services sector, the industrial sector was hit less hard by the second COVID-19 wave” in the second half of the year.

Sales in Europe fell 8.2% to CHF 466.2 million. Adjusted for acquisitions, annual sales in Europe amounted to CHF 454.7 million. In 2019, Bossard acquired Boysen, which operates in the aerospace industry.

In North America, Bossard sales dropped 7.9% to CHF 201.2 million. The recovery in demand in the second half of 2020 boosted fourth quarter sales 9.9% to CHF 53.4 million.

Sales in Asia increased 3.2% to CHF 145.4 million.  Q4 sales increased 6.5% to CHF 42.4 million.

Global Bossard sales in Q4 rose 6% to CHF 212.8 million.

“The recovery we began to observe in the third quarter materialized starting in October, enabling us to close out the fourth quarter in all three market regions with positive growth compared to the previous year,” stated Daniel Bossard.  “In December, sales were particularly strong and well above our forecast.”  Web: Bossard.com