Sales reach a new high
The Bossard Group set a new sales record in fiscal year 2013. Business was especially good in Europe, where we were able to decisively consolidate our market position thanks to the acquisition of KVT-Fastening. But Bossard also made substantial inroads in Asia. We have been experiencing accelerated demand in this region since Q2 of last year.
Remarkably, this positive trend continued until the end of the year: The Bossard Group generated sales of CHF 145.7 million in Q4 which corresponds to a 24.5 percent increase compared to last year. In local currency, sales increased by 26.3 percent. Encouraging is that the growth is not unilaterally due to acquisitions. Adjusted for the acquisition and sale of shareholdings, sales increased by 8.1 percent in local currency in Q4.
In 2013 overall, Bossard achieved sales of CHF 609.7 million, hence increasing the performance level by no less than 25.2 percent (+25.3 percent in local currency). Purely organic growth amounted to 3.1 percent in local currency.
Clear growth of European business
On the European market, Bossard generated sales of CHF 91.0 million in Q4. Based on this figure, the Group boasted a 40.7 percent increase compared to last year (+39.9 percent in local currency). Without the acquisition of KVT-Fastening we were able to book an 8.1 percent growth in revenue (+7.4 percent in local currency) compared to the same period in 2012, and the comparison is also positive in regard to the previous quarters. The high growth rates are an expression of the company’s overall positive development.
For fiscal year 2013, Bossard boasted sales of CHF 384.7 million in Europe. This translates into increased sales of 46.3 percent in Swiss francs and 44.9 percent in local currency. Without the increase in sales due to the acquisition of KVT-Fastening, the Group experienced a modest decrease of 0.2 percent for the entire year. This result is essentially explained by the difficult market environment at the beginning of the year, with sales in Q1 2013 still being 5.8 percent below those of the previous year.
Sideways trend in the US
The demand trend was somewhat calmer in the US where Bossard generated sales of CHF 30.4 million in Q4. Not taking into account the divestment of Bossard Metrics Inc., this translated into a decrease of 1.5 percent in local currency. The fact that the sales trend tended slightly downwards can be primarily attributed to the declining demand of one major customer.
The sales for the entire year in the US amounted to CHF 134.6 million which, adjusted for divestment, corresponds to a slight increase in sales of 0.3 percent in local currency. In total, US business has developed well in recent years. The year 2013 marks a certain high-level consolidation.
Impetus from Asia
Business in Asia has been developing well. Q4 saw a sales volume of CHF 24.3 million which in Swiss francs was 19.6 percent higher than last year’s figure. In local currency, Bossard even had a 25.4 percent raise in sales. Annual sales in Asia amounted to CHF 90.4 million, an increase of 11.1 percent. In local currency we generated a sales increase of 13.1 percent.
Bossard will publish the 2013 annual sales figures on the occasion of the media and analyst conference in Zurich on March 6, 2014.