Bossard (BOSN) H2 2024 earnings summary

Executive summary

• Sales declined by 7.7% in 2024 to CHF 986.4 million, impacted by global demand normalization and Swiss franc appreciation.

• EBIT decreased by 11.5% to CHF 100.1 million, with EBIT margin at 10.2% versus 10.6% last year.

• Net profit reached CHF 100 million, with a net profit margin of 10.2%, amid geopolitical and economic uncertainties.

• Three strategic acquisitions in Europe (Dejond Fastening, Aéro Négoce, Ferdinand Gross) expanded market presence in key industries and regions.

• Strategy 200 initiatives advanced, including digitalization, ERP rollouts, AI adoption, and sustainability programs.

Financial highlights

• Net income declined 2.0% year-over-year to CHF 75.3 million, with net profit margin at 7.6%.

• Free cash flow was CHF 31.2 million (CHF 93.2 million excluding acquisitions), down from CHF 121.4 million in 2023.

• Gross profit margin improved from 31.7% to 33.1% due to disciplined pricing and favorable mix.

• Equity ratio at 46.5%, above the 40% target.

• Net debt/EBITDA at 1.9x, within long-term target.

Outlook and guidance

• Expecting flat sales development in the near term due to continued short visibility and economic uncertainty.

• Midterm targets: organic sales growth above 5%, EBIT margin 12–15%, equity ratio above 40%, and 40% dividend payout ratio.

• CapEx guidance for 2025 is CHF 43 million, with a focus on IT, operational replacements, and ESG initiatives.

• Focus for 2025 on pipeline conversion, ERP and AI rollout, and sustainability initiatives.