Zug, April 17, 2023
The Bossard Group continued its growth path in the first quarter 2023, in spite of last year’s high comparative base. Sales grew by 4.4 % to CHF 304.5 million (prior year: CHF 291.6 million), equivalent to an increase of 7.7 % in local currency.
The American market region achieved double-digit growth rates.
The Group’s organic growth corresponded to 5.8 % in local currency. This was based on newly acquired customer projects, structural growth in the focus industriesas well as the improvement of the situation in the procurement market.
Regionally, demand dynamics were mixed. In Europe, in an environment of weakening economic.
growth, Bossard posted a sales increase of 0.6 % to CHF 170.9 million (in local currency: +4.0 %). The focus on the growth industries was supportive to further growth.
Sales in America increased by 24.7 % to CHF 85.3 million (in local currency: +24.7 %). Adjusted for acquisitions, growth in local currency amounted to 16.7 %. The favourable business performance was driven by the ongoing diversification of the customerbase. Bossard succeeded in establishing new customer relationships in the electromobility sector, with noteworthy growth rates. Bossard Ontario Inc. in Canada (formerly PENN Engineered Fasteners Corporation), consolidated since December 1, 2022, contributed to the positive sales performance.
Sales in Asia declined by 9.4 % to CHF 48.3 million (in local currency: -3.2 %).
The major contributing factors included the impact of lifting of COVID restrictions in China,
the high comparative base from 2022, and the strong Swiss franc.
Notwithstanding the further normalisation of supply chains and improved product availability,
global wage and cost inflation as well as the skilled labour shortage remain central concerns.
These factors are likely to further drive demand for Bossard’s automated and digital.
Smart Factory Logistics and Smart Factory Assembly solutions. These can significantly reduce
the total cost of ownership in C-parts management and assembly for customers,
thereby sustainably and measurably increasing their competitiveness.
Growth opportunities despite a heterogeneous market environment
The course of inflation, central bank policies, geopolitical tensions, and the uncertainties on
the procurement market will continue to persist. As a result, the market environment will remain
challenging. Yet even a volatile market environment offers opportunities, especially for product solutions and digital services in the growth industries of electromobility, railway, electronics, and medical technology.