Bossard Group: Sales for Q4 and for fiscal 2011

Overall, sales in the fourth quarter of 2011 were higher than anticipated despite a difficult market environment with decreasing growth forecasts and a strong Swiss franc. America again reported double-digit growth in local currencies whereas sales growth in Europe and Asia stagnated. Group sales in Q4 totaled CHF 111.7 million. Year on year, this was a 3.0 percent sales increase in local currencies. Given the noticeably altered exchange differences, however, sales for Q4 expressed in Swiss francs were down 2.1 percent.

For the 2011 business year Bossard Group reported total sales of CHF 473.4 million, an increase of 9.0 percent in local currencies. Thus sales for the year were higher than the anticipated total of around CHF 460 million announced in the third quarter. However, given the strength of the Swiss franc against most other currencies, sales expressed in the Group's accounting currency were down 0.9 percent year on year.


Europe

In the fourth quarter of 2011 sales in Europe reached CHF 61.4 million. In local currencies they were up slightly by 0.7 percent compared to the prior year. Given the weaker Euro, sales expressed in Swiss francs were down 2.9 percent for Q4. Total sales in Europe in 2011 reached CHF 268.1 million – an increase of 8.3 percent in local currencies and 2.6 percent in Swiss francs.


America

There was a further very satisfying increase in demand in America in the fourth quarter of 2011. Sales were up 10.7 percent in local currencies compared to Q4 of the prior year (in Swiss francs +3.7 percent). Sales in 2011 amounted to CHF 124.5 million, an increase of 13.7 percent in local currencies (in Swiss francs -3.3 percent).


Asia

Q4 sales in Asia totaled CHF 19.8 million. After sales in local currencies fell by 7.2 percent in the third quarter of 2011, there was only a slight drop of 0.5 percent in the fourth quarter. Sales for the entire business year amounted to CHF 80.8 million. In local currencies this was 4.6 percent higher than in 2010. Expressed in Swiss francs, however, sales fell by 7.7 percent compared to the prior year.

As sales for the entire year were higher than anticipated, this impacted positively on net income. Consequently, the Group's profit will be higher than the CHF 40 million forecast in the third quarter of 2011.

The definite year-end figures and the annual report for 2011 will be presented at the meeting for financial analysts and the press conference to be held on March 7, 2012, in Zurich, Switzerland.