The Bossard Group achieved broad-based sales and profit growth well above average and concluded the first quarter of 2018 with its best performance ever. Bossard decided on this early publication after market uncertainty began to spread in connection with a major Bossard customer in the US electric vehicle sector. In particular, we would like to clarify that the bolts in the power steering component affected by a recall were not supplied by Bossard. As reported by the media, the manufacturer of the affected component has accepted responsibility.
The Bossard Group started the first quarter of 2018 with a strong performance, seamlessly continuing the very successful fiscal year 2017. The current success of the group is broad-based and comes from all three world regions (Europe, America, Asia) and a wide variety of industries. This broad diversification was a major factor in our very strong performance in the first quarter, both in terms of sales and profitability.
The current uncertainties surrounding the aforementioned US electric vehicle manufacturer reported by the media have not affected the progress of the Bossard Group nor have they undermined the prospects: Our current global development continues to be strong.
Detailed sales figures will be published on April 9, 2018, as previously announced.