Visitor
Exhibitor
Media
Shanghai Fastener Expo Press Release_Bossard results impacted by weaker demand in Q2
2019-07-24 Author: Source: Views:1004
Bossard's interim report for the first half 2019, reflects "noticeable signs of a slowdown in economic growth" in industrialised markets.
Noticeable signs of a slowdown in economic growth are increasingly evident in the markets of industrialized countries. For Bossard, this gives rise to tougher market conditions in all three regions. As a consequence, the Group saw a 3.2 percent drop in sales to CHF 218.7 million (-1.6 percent in local currency) in the second quarter. In the first half of the year, Bossard posted a 1.0 percent increase to CHF 450.9 million (+1.9 percent in local currency). Based on the current results, the EBIT margin for 2019 is expected to be at the lower end of the 10 percent to 13 percent target range. The global demand for Bossard’s Smart Factory Logistic solutions and our Engineering Services continues to be very positive.
The slowing economy plus the renewed strengthening of the Swiss franc are notably affecting business in Europe. In the second quarter, Bossard generated sales of CHF 125.9 million in this market, which is 1.9 percent less than in the previous year. In local currency, this represents an increase of 0.8 percent. For the first half of the year, European business posted growth of 1.7 percent to CHF 264.8 million and still a 4.2 percent increase in local currency.
For the first half of 2019, Bossard Group reports a net income of CHF 41.6 million (PY: CHF 49.0 million). The return on sales amounted to 9.2 % (PY: 11.0 %).
Bossard will publish the detailed 2019 semi-annual report on August 22, 2019.
Previous article：Machinery sector sees momentum
Next article：Taiwan Fastener Exports Show Positive Growth In First Four Months
Newsletter
Visitor
Exhibitor
Media
Contact
Afastener Exhibition Co., Ltd.
Tel:+86 (0)20 8985 1867
E-mail: Info@afastener.com
