In an environment of subdued demand and a strong Swiss franc, the Bossard Group faced declining sales. Sales in financial year 2024 decreased by 7.7 percent to CHF 986.4 million (prior year: CHF 1,069.0 million). In local currency, the decline amounted to 5.8 percent. Adjusted for acquisitions, sales in local currency were 7.0 percent lower than in the prior year. Sales development in the individual regions showed a mixed picture: While demand in Europe stabilized in the second half of the year, America experienced a drop in sales and Asia saw satisfactory growth. Sales in the fourth quarter declined by 2.3 percent to CHF 236.6 million (prior year: CHF 242.2 million), a drop of 1.1 percent in local currency and an organic decrease of 5.0 percent. 

The restrained demand evident since the second quarter of 2023 was intensified by continuing customer inventory reductions and the strong Swiss franc. Bossard took advantage of the economic headwinds to make significant strategic progress. Technological expertise was strengthened, among others, through the successful introduction of the new IT platform in nine additional business units, market positions were expanded locally, and Bossard’s presence in growth industries was enhanced through organic growth and targeted acquisitions. 

In Europe, Bossard posted a fourth-quarter growth of 6.1 percent to CHF 136.5 million (in local currency: +7.2 percent). Adjusted for acquisitions, growth in local currency amounted to 0.1 percent. The acquisitions in Belgium and France with Dejond Fastening NV and Aero Négoce International SAS have laid the foundation for further growth in a new market and in the aerospace industry. The acquisition of the German Ferdinand Gross Group announced in mid-October allows Bossard to further expand its already strong market presence in Germany and Eastern Europe. The transaction was concluded at the beginning of January 2025. 

In the final quarter of 2024, sales in America declined by 27.9 percent to CHF 51.1 million (in local currency: -27.0 percent). Lower demand, mainly due to weakening demand in the electromobility and agriculture sector, persisted through the end of the year. 

Sales in Asia increased by 15.0 percent to CHF 49.0 million (in local currency: +16.3 percent) in the fourth quarter. Business developments in the region were increasingly positive over the course of the year and continued to consolidate in the fourth quarter. In China, the first signs of growth became evident and demand in most of the other regional companies was likewise satisfactory. In India, Bossard benefited from the “Make in India” initiative and in Malaysia from nearshoring trends that had a particularly positive impact in the semiconductor and electronics industries. 

The Group confirms the outlook for an EBIT margin of approximately 10 percent for the financial year 2024, given on October 14, 2024 with its publication of the sales figures for the third quarter of 2024. At the same time, the Group continues to adhere to the mediumterm financial goals previously communicated and to the consistent implementation of Strategy 200. 

Bossard will publish its complete annual report 2024 on February 27, 2025.

Source: Bossard Group