Bossard : Semi-Annual Report 2022

04At a glance    05Report to the shareholders    08Financial Report    16Financial Calendar

BOSSARD SEMI-ANNUAL REPORT 2022

Semi-Annual Report 2022

BOSSARD SEMI-ANNUAL REPORT 2022

04At a glance

05Report to the shareholders    08Financial Report

16 Financial Calendar

2

SHORT PROFILE

Proven Productivity

Bossard's global team is fully commited to Proven Productivity. Together we create sustainable values for our customers.

The Bossard Group is a leading strategic partner for industrial fastening and assembly technology solutions to OEM customers globally with proven expertise in engineering and logistic services.

Bossard was founded in Zug in 1831. Today local and multinational companies count on Bossard's expertise to increase their productivity - with success. Bossard calls this concept, which is also a promise to its customers Proven Productivity. This includes, among other things, optimizing processes and reducing inventories to increase the efficiency and productivity sustainably. In addition, Bossard is considered a pioneer in developing intelligent production facilities in line with Industry 4.0.

With over 2,700 employees at 84 locations in 32 countries throughout the world, the Bossard Group generated CHF

995.1 million in sales in the financial year 2021. Bossard is listed on the SIX Swiss Exchange.

04At a glance    05Report to the shareholders    08Financial Report    16Financial Calendar

Content

BOSSARD SEMI-ANNUAL REPORT 2022

3

04 At a glance

05 Report to the shareholders

08 Financial Report

16 Financial Calendar

BOSSARD SEMI-ANNUAL REPORT 2022

04At a glance    05Report to the shareholders	08Financial Report	16 Financial Calendar									4
AT A GLANCE
Key figures
					First 6 months	First 6 months		Year						First 6 months	First 6 months	Year
in CHF million	2022	2021	2021						2022	2021	2021
Net sales	586.0	494.8	995.1
Gross profit	184.8	159.8	317.1	Market price
EBIT	77.2	67.2	123.3	Ticker symbol (BOSN)
in % of net sales	13.2	13.6	12.4	Closing price at end of reporting period in CHF	184.8	282.5	328.5
Net income	59.9	52.6	98.0	Registered A share high during reporting period in CHF	331.5	284.5	362.0
in % of net sales	10.2	10.6	9.8	Registered A share low during reporting period in CHF	181.0	175.6	172.6
Cashflow from operating activites		-15.6	46.6	65.9
Current assets	688.9	551.5	563.5	Key figures
Non-current assets	216.5	191.0	209.3	Consolidated earnings per registered A share in CHF 2) 3)	15.17	13.46	12.53
Current liabilites	296.3	240.8	240.4	Net asset value per registered A share in CHF	48.0	46.0	45.4
Non-current liabilities	239.5	148.1	182.9	Price/earnings ratio (Basis 30.06./31.12.)	12.2	21.0	26.2
Shareholders' equity	369.6	353.6	349.5	Price/book value per share (Basis 30.06./31.12.)	3.9	6.1	7.2
in % of total assets	40.8	47.6	45.2
Total assets	905.4	742.5	772.8	1) Period average full time equivalent
Net debt	292.5	152.6	217.2
2) Basis: Annual average of share capital entitled to dividend
Weighted average number of employees 1)	2,737	2,459	2,516	3) Basis: Net income of shareholders of Bossard Holding AG - First 6 months extrapolated to 12 months
Share capital 2)
Number of shares entitled to dividend
Registered A shares at CHF 5 par	6,345,824	6,336,940	6,343,138
Registered B shares at CHF 1 par	6,750,000	6,750,000	6,750,000
Registered A shares equivalents,
entitled to dividend	7,695,824	7,686,940	7,699,096

04At a glance	05Report to the shareholders    08Financial Report	16Financial Calendar	5

REPORT TO THE SHAREHOLDERS

Continued strong growth and excellent profitability

BOSSARD SEMI-ANNUAL REPORT 2022

Dear Shareholders,

A broad-based economic upturn dominated the first half of 2022 in spite of repeated lockdowns in China and geopolitical tensions in Europe. Bossard reached new records in sales as well as EBIT and net income. Sales in the first half of 2022 grew by 18.4 percent to CHF 586.0 million (prior year: CHF 494.8 million). Organic growth amounted to 14.3 percent. All three market regions contributed to this significant growth with double-digit growth rates. EBIT increased by 14.9 percent to CHF 77.2 million (prior year: CHF 67.2 million). With 13.2 percent, the EBIT margin remained at a high level (prior year: 13.6 percent). Net income increased by 14.0 percent to CHF 59.9 million (prior year: CHF 52.6 million).

The continued dynamic growth in the first half of the year results from solid demand in all three market regions, the result of successful establishment of new customer relationships, and Bossard's sustained delivery capability. Globally, the breadth and sustainability of this success was evident especially in the focus growth industries railway and electronics as well as in the growing range of products and services in electromobility. Bossard achieved double-digit growth rates not only in all three market regions but also in most of the subsidiaries.

The major challenges on the procurement market persisted in the first half of 2022. Brisk economic activity and related high demand also led to above-average delivery

times and logistical bottlenecks, even though the second quarter showed signs of some easing.

Our success in the first half of the year was grounded in the strong commitment and flexibility of our employees, our long-standing purchasing strategy based on multiple procurement sources, as well as our generous inventory approach. This was essential particularly in the last two and a half years to ensure best-possible delivery capability to our customers.

Sustained growth in Europe

The Group posted broad-based growth in Europe in the first half of 2022. Sales increased by 12.9 percent (in local currency: +17.6 percent) to CHF 331.7 million. Organic growth in local currency amounted to 10.4 percent. This was not only the result of Bossard's consistent delivery capability but also the strong economic environment. The industrial sectors of mechanical engineering and electronics­ performed particularly well. The aerospace industry also maintained the above-average growth rates of the previous quarters.

Diversified growth in America

In the first half of the year, the Group recorded a broad- based, above-average rise in demand in America. Sales increased by 32.8 percent to CHF 147.1 million (in local currency: +27.8 percent). Our expertise in the electromo- bility sector, built up over the last several years, proved

especially successful for establishing new customer rela- tionships. Existing customer relationships in the electronics sector were expanded considerably.

Market share gains in Asia

Sales in Asia increased by 18.7 percent (in local currency: +17.2 percent) to CHF 107.2 million. This led to double-­ digit growth in local currency for the seventh quarter in a row, with support from all the regional companies. In particular, the growth industries railway, electronics, and electromobility continued to perform well.