The Bossard Group has reported a successful beginning to the 2021 financial year, recording the best start of the year in the company’s history, with sales in the first quarter growing by 11.8% to CHF 244.8 million (previous year: CHF 218.9 million). In local currency, sales even increased by 12.9%.
In Asia, where the effects of the Covid-19 pandemic were most evident in the first quarter of 2020, the upswing was above average, with a jump in sales of 34.5% in local currency. The return of growth is strengthened by the focused market development and signals cautious optimism for the remainder of the financial year.
The favourable recovery of the Bossard Group’s business in the fourth quarter of 2020 continued into the first quarter of 2021. The broad-based upturn in all regions and the resulting high growth rates are strengthened by the comparatively low baseline values of the previous year. “Customers appreciate our consistent ability to deliver, allowing us to benefit even more than expected from the economy’s momentum. The focus on industries of the future such as automation, electromobility, medical technology and railway bore additional fruit,” stated Daniel Bossard, Group CEO at Bossard Group.
In Europe, Bossard posted growth of 11% to CHF 147.7 million (+9.5% in local currency). The positive economic environment solidified further after stabilising in the fourth quarter of 2020. In addition, the past financial year, which was marked by the pandemic, offered opportunities that Bossard knew how to exploit - thanks to its digital competence in the field of logistics and engineering services, the Group was able to drive forward and expand customer projects.
Sales in America rose by 1.9% to CHF 55.0 million. However, the pleasing business development was diminished by the weak US dollar, with sales growth in local currency amounting to 8.7%. Ongoing diversification of the customer base also boosted growth in this market region.
The Asia market region grew by 32.4% to CHF 42.1 million (+34.5% in local currency). On the one hand, Asia benefited from the low baseline values from the previous year, which were hit hard by the lockdown in the first quarter of 2020. On the other hand, targeted focus on growth segments led to a gratifying expansion of the project pipeline and new customers.
The third wave of Covid-19 has thus far hit industry less hard than the first and second waves, allowing most Bossard locations to resume normal operations. The market data – in particular, the purchasing manager indices in Bossard’s most important markets – further signal a broad-based recovery. However, the impact of further pandemic-related restrictions is still difficult to predict and obscures the outlook. Nevertheless, Bossard remains cautiously optimistic regarding the further development of the financial year.
Having joined the magazine in 2012, Claire developed her knowledge of the industry through the numerous company visits, exhibitions and conferences she attended both in the UK and abroad.
Claire prides herself on keeping readers well informed and up to date with the latest industry news.