Bossard says the worldwide economic crisis continued to impact noticeably on the Group's sales development. It reported third quarter sales down 32.8% year on year to CHF 93.9 million (approximately 61 million euros). Sales for the nine months totalled CHF 299.8 million, a 30.7% decrease calculated in local currencies.
European sales for the third quarter were CHF 54.6 million, down 31.8% in local currencies. Cumulative European sales for the year were down 33% in local currencies, 35.9% converted to Swiss Francs. Bossard commented, “After worldwide demand had dropped to an all-time low in the first half of the year, sales development appears to be stabilising at a low level in Europe.”
Bossard reported some signs of recovery in Asia, a less severe decline in the third quarter still leaving sales down 17.8% in local currencies.
American demand in the third quarter was again noticeably weaker, says Bossard. Quarter 3 sales fell 35.9% from US$35.4 million to US$22.7 million - primarily attributable to lower demand from one major customer. In the first nine months of 2009 sales in America totalled US$79.3 million, 27.9 % less than in 2008.
Summarising its prospects Bossard said, “In the next few months the market environment will remain difficult. Although there are some indications that demand will stabilise – particularly in Europe and Asia, we have still not identified any signs that suggest an early recovery. Although there are some signs of the recession bottoming out, we anticipate that demand will remain weak and at a low level.”
