Sales development varied by region --- market environment better than in second half of 2011
For the first three months of the current business year, Bossard Group reported sales of CHF 127.1 million. In local currencies this is an increase of 0.6 percent on the very strong Q1 result in 2011. Expressed in Swiss francs sales fell marginally by 2.2 percent. By region, sales development differed substantially. Whereas sales in America showed positive growth, sales in Europe and Asia decreased year on year. The market environment improved compared to the second half of 2011. Thus Group sales in local currencies compared to Q3 and Q4 2011 rose by 9.9 percent and 13.4 percent respectively.

Europe
In the first quarter of 2012 sales reached CHF 70.1 million which, in local currencies, is 1.5 percent lower than in Q1 of the prior year. Conversely, demand picked up again compared to the second half of 2011. Thus, on average, sales in local currencies rose by more than 11 percent as against Q3 and Q4 2011.

America
In America demand continued to develop positively. The Group’s sales in the first quarter of 2012 totaled CHF 38.1 million, an increase year on year of 7.9 percent in local currencies. Compared to the previous two quarters, average sales growth was in excess of 20 percent. The Group benefited from the continuing good demand from existing and newly acquired customers.

Asia
Demand in Asia remained volatile. After sales had improved somewhat in the fourth quarter of 2011, they fell again in the first three months of the current business year. Thus sales for the first quarter of 2012 amounted to CHF 18.9 million, down 4.5 percent in local currencies compared to the same period in the prior year.

Prospects
Demand will probably continue to differ regionally in the next few months. Despite this, Bossard Group’s target for the entire 2012 business year is still to achieve sales growth in local currencies in the region of 5 percent to 8 percent. The recovery in demand compared to the second half of 2011 encourages us positively.