Bossard begins 2018 with a bang thanks to ‘best quarter ever’

Bossard Group has signalled a record-breaking start to 2018 ahead of its formal quarter financial statement to counter market speculation around Tesla’s recent recall of the Model S.

Just before Easter, Tesla recalled 123,000 Model S vehicles following a power steering component issue. Tesla is a major Bossard customer in the US electric vehicle sector, but Bossard disassociated itself with the problem by clarifying that the bolts in the power steering component affected by a recall were not supplied by Bossard. “As reported by the media, the manufacturer of the affected component has accepted responsibility.”

With that cleared up, Bossard revealed it achieved broad-based sales and profit growth well above average and concluded the first quarter of 2018 with its best performance ever, “seamlessly continuing the very successful fiscal year 2017”.

“The current success of the group is broad-based and comes from all three world regions (Europe, America, Asia) and a wide variety of industries. This broad diversification was a major factor in our very strong performance in the first quarter, both in terms of sales and profitability.

The current uncertainties surrounding the aforementioned US electric vehicle manufacturer reported by the media have not affected the progress of the Bossard Group nor have they undermined the prospects: Our current global development continues to be strong.”

Bossard will reveal the detail in its scheduled quarter sales figures on 9 April.