The Bossard Group reported sales grew 5.9% to a record CHF 695 million (US$686.8 million) in 2016, boosted by strong growth in Europe and North America. EBIT increased 11.6% to CHF 78.5 million and net income rose 14.6% to CHF 62.4 million.

“Our investments and groundwork over the last several years are paying off in growth and clearly above-average profitability,” stated CEO David Dean.

In North America, Bossard sales rose 12% to CHF 186.1 million, which included a 15.3% jump in the final quarter of the year.

“This lively growth is reflected in the intensified cooperation with the leading U.S. electric vehicle manufacturer whose production volumes exhibited a marked increase in the second half of the year,” the company stated.

In Europe, sales grew 4.7% to CHF 401.6 million.

In Asia, sales gained 0.6% to CHF 107.3 million, boosted by double-digit growth in India, Taiwan and Singapore.

“Although the Chinese market continues to be challenging, Bossard generated more business volume in the third and fourth quarters. Additional business with new customers compensated for the weaker demand from established customers.”

Bossard forecasts 2017 sales between CHF 750 and CHF 760 million, but cautioned that this estimate was “subject to political uncertainties.”

“In Europe, major countries including Germany and France will hold elections whose economic ramifications cannot yet be gauged.

“In the USA, it remains to be seen which impact the changes in economic and trade policies will have.” Web: bossard.com