Sales hit CHF 695 million (£562m) in fiscal year 2016 for Bossard Group, up 5.9%.
Q4 2016 saw sales up a whopping 15.1% compared to the same period in 2015, at CHF 181.7 million. Europe (+8.2%) and America (+38.9%) were the star performing territories for Bossard, the latter thanks in part to the acquisition of Arnold Industries.
Bossard has grown sales by 48% in the last five years and has maintained ‘above-average profitability’.
European momentum
Around 58% of revenue came from Europe, with sales for 2016 up 4.7% to CHF 401.6 million (local currency +3.6%). The second half of the year was particularly positive with a Q4 increase of 8.2% to CHF 96 million (local currency +8%).
America is great again for Bossard
America was a jewel in the crown for Bossard in 2016. Sales rose 12% to CHF 186.1 million (local currency +9.3%) for the year. The Arnold acquisition contributed to the 38.9% growth in Q4 to the tune of two-thirds. However solid performance of the existing business in America contributed a significant 15.3%.
Sales with ‘the largest US electric vehicle manufacturer’ were a key contributor to Q4 sales, while demand from a major agricultural customer stabilised. While that sector did see a drop, the fall was far less than in previous quarters. Bossard said: “The fourth-quarter organic sales growth of 15.3% compares to 6.3% for the whole year and underlines the very strong business development in the last quarter in this region.”
Organic growth in Asia
Sales increased 0.6% to CHF 107.3 million in Asia. Local currency growth hit 3.1% demonstrating the firm can tap potential in that market, it said. Q4 figures trended upwards too – sales increased 3.4% to CHF 30.4 million, an increase of 5.6% in local currency. China was particularly strong, following investments over the years by Bossard.
If you want more statistics and detail, head to Bossard’s Investor Relations site.