Total 2020 Americas sales were down nearly 8 percent from 2019, but Q4 sales improved nearly 10 percent in local currency.
Zug, Switzerland-based fastener distributor Bossard shared its 2020 financial results on Thursday, showing continued year-over-year declines amid the COVID-19 pandemic, but considerable improvements in the fourth quarter.
Bossard said that its 2020 Americas sales of $227 million were down 7.9 percent from 2019 and down 2.5 percent in local currency, but Q4 sales of $60 million were up 4.3 percent overall, and up 9.9 percent in local currency.
As a whole, Bossard's total 2020 sales of $916.5 million were down 3.3 percent overall from 2019 on a currency-adjusted basis, and down 7.2 percent in Swiss currency due to a strong Swiss franc. In Q4, sales of $240 million improved 2.9 percent overall and were up 6.0 percent in local currency.
"The recovery we began to observe in the third quarter materialized starting in October, enabling us to close out the fourth quarter in all three market regions with positive growth compared to the previous year. In December, sales were particularly strong and well above our forecast,” stated Daniel Bossard, CEO of the Bossard Group."
Source: Industrial Distribution