Switzerland-based fastener distributor The Bossard Group on Thursday reported its full-year 2020 sales fell 3.3% to CHF 812.8 million (US$916.5 million) compared to 2019. Sales for the period were down 7.2% in local currency as a result of a stronger Swiss franc.
In the year, sales in America totaled CHF 201.2 million (US$226.9 million), down 7.9%, or 2.5% in local currency.
Group sales in the fourth quarter improved 2.9% to CHF 212.8 million (US$239.9 million), the company said. Sales were up 6% in local currency.
In the quarter, sales in America totaled CHF 53.4 million (US$60.2 million), up 4.3%, or 9.9% in local currency.
“The worldwide lockdown in March of 2020 caused parts of the world economy to slump, as reflected in the figures from the first half of the year,” said CEO Daniel Bossard. “In contrast to the services sector, the industrial sector was hit less hard by the second COVID-19 wave. This is reflected in sales for the second half of the year.”