Switzerland-based Bossard — No. 26 on Industrial Distribution's Big 50 List — reported its 2016 full year fiscal results on Wednesday, highlighted by considerable growth in its U.S. business.
The company posted 2016 total sales of $685.5 million, a company record and up 5.9 percent from 2015. Total profit of $61.5 million jumped 14.6 percent, while operating profit of $77.4 million rose 11.6 percent.
In the U.S. — where Bossard did 27 percent of its business — 2016 sales of $183.6 million increased 12 percent (+9.3 percent in local currency) over 2015. Growth was even better in Q4, where sales increased 15.3 percent year-over-year, excluding Bossard's Q4 acquisition of Arnold Industries. Bossard said the growth reflected intensified cooperation with a leading U.S. electric vehicle manufacturer whose production volumes had a considerable increase in the second half of 2016.
"Business in America was particularly impressive, not only because of the acquisition of Arnold Industries but also because of the solid performance of our existing business," Bossard said in its 2016 annual report.
In Europe — where Bossard did 58 percent of its business — 2016 sales of $396.1 million increased 4.7 percent (+3.6 percent in local currency) over 2015.
In Asia — where Bossard did 15 percent of its business — 2016 sales of $105.8 million increased 0.6 percent (+3.1 percent in local currency).
