October 18, 2011 | by Bossard AG
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October 18, 2011, Bossard Group's sales development increasingly reflects the forecasts over the past few months of a general slowdown of growth as well as declining PMIs worldwide. Whilst Europe and America continued to report positive growth rates in local currencies, sales in Asia were down 7.2 percent year on year. Declining global demand has had an impact on our exportoriented customers in this region, particularly those in the electronics sector. Group sales for the third quarter of 2011 totaled CHF 109.3 million, an increase of 3.9 percent in local currencies. However, with the strong appreciation of the Swiss franc against most other currencies, sales in the third quarter expressed in the Group's accounting currency were down 8.5 percent year on year.
In the first nine months of the current business year Bossard Group reached sales of CHF 361.7 million. Compared to the prior year this is an increase of 11 percent in local currency. Given the noticeably altered exchange-rate situation, however, sales expressed in Swiss francs were down 0.5 percent year on year.
Prospects
With the latest market developments and taking into consideration that the Swiss franc is noticeably stronger than it was in 2010, we anticipate sales for the entire year in the region of CHF 460 million and net income of some CHF 40 million.
Contact
Bossard Group Steinhauserstrasse 70 6301 Zug Phone 041 749 66 11 Fax 041 749 66 22 investor@bossard.com
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Source: Bossard AG, Press release