Sales financial year and fourth quarter 2021January 13, 2022 - Ad hoc announcement
A record-breaking year with a pleasing conclusion
Thanks to further market share gains in a strong economic environment, the Bossard Group recorded sales of CHF 995.1 million in 2021 (prior year: CHF 812.8 million). This corresponds to organic growth of 21.1 percent, with currency effects and acquisitions having a positive impact. All regions performed well in the fourth quarter, even though the high basis effect of the prior year was clearly felt in America. The Bossard Group’s fourth quarter sales increased by 17.9 percent to CHF 250.8 million (prior year: CHF 212.8 million).
The growth of the Bossard Group that began with the broad-based economic upturn in the fourth quarter of 2020 continued into the fourth quarter of 2021. At the same time, Europe and Asia recorded impressive double-digit growth rates. The rising COVID-19 infection rates in various market regions continued to foster uncertainty. Simultaneously strong global demand continued to strain the situation on the procurement market, resulting in further price increases and longer delivery times. In addition to Bossard’s sustained delivery capability, the Group also benefited from further expansion of its market position.
In Europe, Bossard recorded fourth quarter sales growth of 19.7 percent to CHF 140.1 million (in local currency: +21.0 percent), accounting for a significant share of the improved results. Among other things, newly won customer projects in the focus markets of railway and medical technology helped sustain positive demand. In addition, the aerospace segment stabilized appreciably, and newly won framework agreements pushed growth rates in the second half of the year into the double-digit range. The acquisition of the Dutch company Jeveka B.V., consolidated since October 1, 2021, contributed to the gratifying sales performance.
Fourth quarter sales in America increased by 4.7 percent to CHF 55.9 million (in local currency: +3.2 percent). Notwithstanding the high comparative base in the same quarter of the prior year, business continued to perform well in the electromobility sector and others due to continued diversification of the customer base. The completion of several exciting projects helped Bossard solidify new long-term customer relationships.
In Asia, sales grew by 29.2 percent to CHF 54.8 million in the fourth quarter (in local currency: +26.0 percent), making it the fifth quarter in a row of double-digit growth rates in local currency. On the one hand, the Group benefited from the investments made in the expansion and modernization of our infrastructure over the last few years. On the other hand, the growth initiatives in the robotics and electronics segments spurred welcome growth in the project pipeline and gains in market share.
As already announced in the semi-annual report 2021, the EBIT margin for the financial year will likely fall within the upper range of the anticipated 10 percent to 13 percent.
Bossard will release its complete annual report 2021 on March 2, 2022.