Bossard Group reported sales increased 15% to CHF 395.1 million (US$408.7 million) in the first half of 2017, while net income rose 44.7% to CHF 45.3 million.

“The acquisition strategy also contributed to this growth,” the company stated. “Without takeovers sales grew a solid 9.5% to CHF 376.1 million.”  

The European business, which accounts for nearly 57% of total sales, recorded sales growth of 7.5% to CHF 223.3 million, a plus of 8.6 percent in local currency.

“The America business is currently experiencing exceptional growth,” Bossard stated. Sales in this market region grew 32.3% to CHF 114.3 million. These figures also include the acquisition of the U.S. company Arnold Industries, which was consolidated starting in the fourth quarter of 2016.

“Yet even without this acquisition – which solidified our market position in the Northeast of the USA – the Bossard Group clearly increased sales with premium fastening solutions and services.”

Adjusted for the acquisition, sales rose 17.4% to CHF 101.4 million, reflecting the “successful cooperation with the largest US electric vehicle manufacturer.”

The Asia business also did well, with sales growing 16.2% over the previous year to CHF 57.5 million. Bossard said sales grew in all market regions in Asia, in the majority of countries in the double-digit range. Web: bossard.com