Bossard Group: Sales financial year and fourth quarter 2022 – New records in a challenging environment

 

Bossard Group: Sales fourth quarter and financial year 2022 Ad hoc announcement pursuant to Art. 53 LR

Zug, January 12, 2023

In a challenging environment, and despite the impact of the strong Swiss Franc, the Bossard Group achieved new records in all three market regions. Sales in the financial year 2022 amounted to CHF 1,153.8 million (prior year: CHF 995.1 million), corresponding to organic growth of 15.0 percent in local currency. All regions performed well in the fourth quarter. Sales increased by 13.3 percent in local currency to CHF 276.2 million (prior year: CHF 250.8 million).

The broad-based growth of the Bossard Group, which began in the fourth quarter of 2020, continued in the fourth quarter of 2022. America posted impressive double-digit growth rates, while the growth in Europe slowed down at a high level. The situation in Asia was impacted by the lifting of COVID restrictions in China and the resulting wave of infections. The strong global demand only led to a slight improvement of the tense situation on the procurement market. In addition to Bossard’s sustained high delivery capability, the Group experienced a stronger trend toward nearshoring and an increased demand for Smart Factory Assembly (SFA) solutions.

In Europe, Bossard recorded fourth quarter sales growth of 0.8 % to CHF 141.2 million (in local currency: +6.1 %). Demand remained at a constantly high level despite continuing geopolitical tensions and their resulting challenges. In an environment marked by inflation and a shortage of skilled labor, Bossard’s Smart Factory services drew even more attention from customers. However, the strong Swiss franc did slow down growth.

Expiring acquisitional effects also reduced growth rates compared to the previous quarters.

In the final quarter of 2022, sales in America increased by 43.5 percent to CHF 80.2 million (in local currency: +37.3 %). The positive business development was driven by dy-namic economic growth. In the electromobility sector, exciting commercial vehicle projects were implemented. The acquisition of PENN Engineered Fasteners Corporation in Canada, consolidated since December 1, 2022, contributed to the gratifying sales performance. The acquisition is in line with the strategic approach to further expand Bossard’s capabilities in America.

At CHF 54.8 million, Asia achieved sales in the fourth quarter at the level of previous year (in local currency: +5.4 percent). After two years of double-digit growth, the high base of the prior year was evident. In December, China’s lifting of COVID restrictions caused a wave of  infections, and the resulting production downtime impacted the industrial environment negatively.

Although Bossard was able to ensure best-possible delivery capability to its

customers, the situation in China continues to cause uncertainty.

Bossard will publish its complete annual report 2022 on March 1, 2023.

About Bossard:

The Bossard Group is a leading strategic partner for industrial fastening and assembly technology solutions to OEM customers globally with proven expertise in engineering and logistic services.

Bossard was founded in Zug in 1831. Today local and multinational companies count on Bossard’s expertise to increase their productivity – with success. Bossard calls this concept, which is also a promise to its customers “Proven Productivity”. This includes, among other things, optimizing processes and reducing inventories to increase the efficiency and productivity sustainably. In addition, Bossard is considered a pioneer in developing intelligent production facilities in line with Industry 4.0.

With 2925 employees at 82 locations in 32 countries throughout the world, the Bossard Group generated CHF 1,153.8 million in sales in the financial year 2022. Bossard is listed on the SIX Swiss Exchange.

www.bossard.com