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Bosch starts new year with strong sales growth in every business sector

Bosch uses its broad technological and industrial expertise in the connected world

  • 2013: without extraordinary effects, margin of 6 percent
  • Sales growth of roughly 7 percent in the first three months of the year
  • Growth between 3 and 5 percent expected for 2014
  • Market leader in micromechanical sensor technology, a gateway technology
  • Opening up new and internet-based market segments
  • One billion euros in sales with driver assistance systems by 2016
  • Sales to double in Asia Pacific and the Americas by 2020

*Note: Due to a change in accounting policies, the 2013 figures can only be compared to a limited extent with the previously published figures for 2012. The decision to forego the application of proportionate consolidation affects mainly BSH Bosch und Siemens Hausgeräte GmbH and ZF Lenksysteme GmbH with a consolidated sales volume of some 7.3 billion euros.

Stuttgart – The Bosch Group has started the new year with a good increase in sales. In the first quarter, sales grew by roughly 7 percent. After adjusting for exchange-rate effects, the increase was roughly 10 percent. For the current fiscal year, the global provider of technology and services expects its sales to grow 3 to 5 percent. “We continue to move forward with our traditional business and are opening up new fields of business. In so doing, we are benefiting from our broad technological and industrial expertise,” said Dr. Volkmar Denner, chairman of the Bosch board of management, at the company's annual press conference. The Bosch Automotive Technology business sector continued its strong business performance of the previous year, growing impressively in the first quarter of 2014. “We have also seen clear growth in our other business sectors. With regard to the regions, business in Asia Pacific is developing especially well,” said Dr. Stefan Asenkerschbaumer, the Bosch CFO. Bosch also aims to further improve result in 2014.

Sensor technology – global market leader for the technology of the future
Internet-enabled products and internet-based services are one of the focal points of the company's future sales growth. With its hardware know-how and broad technological expertise, Denner believes Bosch is well prepared to move into this direction. “Bosch's traditional strengths – our innovative strength, high standard of quality, international presence, and the integrative force of our corporate culture – are also valuable in the connected world,” Denner said. Moreover, the company is global market leader in the area of micromechanical sensors (MEMS) , a key technology when it comes to networking things on the internet. Bosch's strategic objective is to create solutions for connected mobility, connected industry, connected energy systems, and connected buildings.

Intelligent sensors – basis for the internet of things
Sensors enable a new form of technical assistance in day-to-day life. Describing the strategic significance of sensor technology , Denner said: “Whether we are speaking of automated driving or the smart home, a new quality of comfort, safety, and efficiency is developing, and Bosch is creating the technical conditions for this change.” In 2013, the market leader produced one billion micromechanical sensors. This year, a further 30 percent increase is planned. Intelligent sensors are the next level of technological progress. These are equipped with a radio interface and a microcontroller. As a result, sensors are able to transmit relevant data via the internet, for instance to mobile end devices. “Smartphones will not be the only devices to be equipped with sensors. Any 'smart' object will feature internet-enabled sensor technology,” Denner said.

Automated driving – also at higher speeds from 2020
Sensor technology is also a major technological prerequisite for future driving. Modern driver assistance systems require ultrasound, radar, and video sensors. This year, Bosch will produce nearly 50 million ultrasound sensors, 25 percent more than the previous year. The number of radar and video sensors produced will double to more than two million units. As early as 2016, sales of driver assistance systems will exceed one billion euros. By 2020, the company aims to enable automated driving at higher speeds on freeways . In the coming decade, fully automated driving using an autopilot function could become possible. “Automated driving is a technology that saves lives. At the same time, it can spark drivers' enthusiasm, since it offers them support with tiresome driving tasks,” Denner said.

Connected road traffic – new services
For driving to be automated, there has to be connected traffic as well as car-to-x communication . By 2025, almost every new car will be equipped with wireless data communication technology. Even now, the connected vehicle makes a broad range of services possible. In 2013, Bosch began offering its eCall emergency call system . When sensors record that a vehicle has had an accident, an automatic emergency call is made. Last year, the Bosch monitoring center processed a good 30,000 emergency calls. In the area of telematics, Bosch offersfleet management services for leasing and insurance companies. “For us, connectivity on the roads not only means efficiency and comfort, it also means safer driving,” Denner said.

Doubling sales in Asia and the Americas by 2020
Asia continues to be Bosch's number one growth region. By 2020, the company aims to double its sales in the region. For this reason, the level of capital expenditure will remain high. From 2010 to 2014, Bosch will have invested some 3.3 billion euros in the region. The company also aims to double its sales in North and South America by the end of the decade. In addition to expanding its manufacturing capacity, Bosch is strengthening its local development activities. In Guadalajara, Mexico, the company is currently opening a new development and software center. In Africa, too, Bosch aims to significantly increase its sales in the years ahead. In 2014, the company will further expand its presence on the continent. In Europe, Bosch aims to grow faster than the market despite the region's economic situation, which continues to be weak. As it expands its international presence, Bosch is also developing a growing number of products and services that are tailored to local customer needs.

The business year 2013 – improved sales and earnings
In fiscal 2013, Bosch increased its sales by 3.1 percent, to 46.1 billion euros (*based on an adjusted previous-year figure of 44.7 billion euros). The disclosed sales figure takes the exit from crystalline photovoltaics into consideration as well as consolidation effects resulting from changed accounting policies and acquisitions in the previous year. After adjusting for exchange-rate effects, sales grew 6.3 percent. As a result of negative exchange-rate effects to the tune of some 1.5 billion euros, the strong euro had a very negative impact on the sales figure. Excluding burdens from photovoltaics, Bosch disclosed a 6 percent EBIT margin. This translates into EBIT of 2.8 billion euros. The positive developments in the Automotive Technology business sector made a significant contribution to the improvement in result. “Also thanks to our many efforts to cut costs, we have taken an important step toward achieving our target EBIT margin of 8 percent,” Asenkerschbaumer said. Even including the extraordinary burden of 1.3 billion euros resulting from photovoltaics, EBIT margin increased to 3.2 percent. Bosch has discontinued the activities in the area of crystalline photovoltaics. The company has now sold most of its activities in this area. The sale of the remaining activities is planned to be finalized in the first half of 2014.

Headcount increased in 2013 – further workforce expansion planned in 2014
In 2014, Bosch expects headcount requirements to increase mainly in the Asia Pacific growth region. Altogether, some 9,000 university graduates will be hired around the world. In Germany, the company is planning to hire some 800 university graduates. The number of new apprentices in Germany will be same as the previous year, at around 1,400. In 2013, the Bosch Group's workforce grew by about 8,500, to 281,000 (*adjusted previous-year figure: 273,000).

Automotive Technology – strong growth around the world in all divisions
In 2013, the Automotive Technology business sector increased its sales by 6.7 percent (10.3 percent after adjusting for exchange-rate effects), to 30.6 billion euros. Its EBIT of 2.4 billion euros and EBIT margin of 7.7 percent were considerably higher than the previous year.

Industrial Technology – packaging machinery sales of one billion euros
In 2013, the Industrial Technology business sector's sales amounted to 6.8 billion euros, 9.2 percent below the previous-year level (down 6.5 percent after adjusting for exchange-rate effects). The difficult economic situation hit the Drive and Control Technology division especially hard. In contrast, the Packaging Technology division developed positively. Overall, the Industrial Technology business sector recorded a negative EBIT margin of 1.2 percent. EBIT showed a loss of 83 million euros.

Energy and Building Technology – connected products for smart heating
The Energy and Building Technology business sector increased its sales by 3.9 percent (5.9 percent after adjusting for exchange-rate effects) to 4.6 billion euros. The sector improved its result to some 106 million euros. Its EBIT margin came to 2.3 percent. In particular, the Thermotechnology division developed well.

Consumer Goods – market leader for innovative power tools
In 2013, the Consumer Goods business sector generated sales of 4.1 billion euros (note: as a result of changes to accounting policy, this figure includes sales of the Power Tools division only, plus some miscellaneous other sales). After adjusting for exchange-rate effects, sales were 2.9 percent higher than the previous year. In nominal terms, sales decreased slightly. The Consumer Goods business sector achieved an EBIT margin of 10.4 percent. Its EBIT of 415 million euros included the proportionate after-tax profit of the BSH Bosch und Siemens Hausgeräte GmbH joint venture. Even without this result, the business sector's EBIT margin was encouraging.

Europe – growth in a difficult economic situation
In Europe, Bosch sales grew despite the ongoing difficult economic situation. The company's sales in the region increased 2.2 percent (2.9 percent after adjusting for exchange-rate effects) to 25.5 billion euros. Sales increased slightly in Germany as well. Bosch invested 1.6 billion euros in Europe in 2013. Especially in eastern Europe, the company is currently expanding its manufacturing capacity. Last year, Bosch invested more than 900 million euros in Germany.

The Americas – strong growth in North America, recovery in South America
In the Americas, sales in nominal terms varied considerably in 2013. In North America, Bosch sales grew by 3.5 percent (6.8 percent after adjusting for exchange-rate effects) to 7.8 billion euros. This was in part the result of an increase in vehicle production. In contrast, sales in the South American market decreased by 3.6 percent, to 1.7 billion euros. However, after adjusting for exchange-rate effects, sales increased 8.9 percent. Bosch invested some 280 million euros in North and South America in 2013.

Asia Pacific – improvement in China, severe currency effects
In Asia Pacific, Bosch achieved sales growth of 5.8 percent (13.8 percent after adjusting for exchange-rate effects) to roughly 11.1 billion euros. Especially in the Chinese growth market, demand for automotive and industrial technology picked up significantly over the course of the year. Demand for automotive technology was also high in Southeast Asia. In India, poor economic conditions meant that business developed less well than forecast. The same applied to Japan. In 2013, Bosch again made considerable investments in Asia Pacific. With some 620 million euros spent, Bosch focused especially on expanding its manufacturing capacity for automotive components.

Research and development expenditure remains high
Last year, Bosch spent some 4.5 billion euros, or 10 percent of sales, on research and development. Bosch researchers filed nearly 5,000 patents over the course of 2013, some 20 per working day. The company plans to continue expanding its research and development capacity this year. By the end of 2014, Bosch will have some 45,000 researchers and engineers on board. More than 2,000 additional researchers will be hired in Asia Pacific, for instance. The company is also boosting its innovative strength in Germany, with a newcenter for research and advance engineeringin Renningen, near Stuttgart.

Maintaining cutting-edge research – rapid transfer to industrial application
Denner, whose responsibilities on the Bosch board of management also include research and development, called for greater political commitment to promoting innovation: “Policymakers need to set their sights higher.” While Germany is close to spending 3 percent of GDP on research, the private sector has played a greater role in this achievement than the public sector has. Denner deplored the fact that universities were chronically underfunded. In some cases, he said, there was not enough money to pay for the buildings' upkeep. For him, the result was obvious: top researchers were leaving Germany in favor of research institutes in other countries. Denner went on: “In research and development, Germany and other European countries have to measure up to the world's leading countries.” He said that funding must above all benefit basic research, as well as its rapid transfer to industrial application. “Top universities make the regions they are located in more appealing. Companies indirectly benefit from this as well.” Bosch itself is an active member of 250 university research partnerships.

Tags: Sales, Annual report, APC, APC 2014

Bosch Thermotechnology is a leading European manufacturer of energy-efficient heating products and hot water solutions. In fiscal 2018, the company generated sales of about 3.5 billion euros (66 percent outside Germany) and employed approx. 14,200 people. Bosch Thermotechnology has strong international and regional brands and manufactures a diversified product range in Europe, America and Asia.

Further information is available online at www.bosch-thermotechnology.com.

Bosch Service Solutions is a leading global supplier of Business Process Outsourcing for complex business processes and services. Using the latest technology and the Internet of Things, the Bosch division develops integrated and innovative service solutions in the areas of Mobility, Monitoring, and Customer Experience. Around 9,500 associates at 28 locations support national and international customers in more than 35 languages, primarily from the automotive, travel and logistics sectors as well as information and communication technology.

Additional information is available online at www.boschservicesolutions.com

The Robert Bosch Power Tools GmbH, a division of the Bosch Group, is one of the world’s leading providers for power tools, power tool accessories and measuring tools. In 2018, its roughly 20,000 associates generated sales of 4.6 billion euros, about 85 percent of which outside of Germany. With brands such as Bosch and Dremel, the division stands for customer focus and great engineering progress. The core success factors are innovative strength and pace of innovation. In 2019, Bosch Power Tools will again launch more than 100 new products onto the German market in its four business segments power tools, accessories, measuring tools and garden tools.

The Bosch division Building Technologies is a leading global supplier of security, safety, and communications products and systems. In selected countries Bosch offers solutions and services for building security, energy efficiency and building automation. About 9,000 associates generated sales of roughly 2.0 billion euros in 2018. Protecting lives, buildings and assets is the major aim. The product portfolio includes video surveillance, intrusion detection, fire detection and voice evacuation systems as well as access control and management systems. Professional audio and conference systems for communication of voice, sound and music complete the range. Building Technologies develops and manufactures in its own plants in Europe, Americas and Asia.

Additional information can be accessed at www.boschbuildingtechnologies.com

Based in Waiblingen near Stuttgart, Germany, and employing 6,100 associates, the Bosch Packaging Technology division is one of the leading suppliers of process and packaging technology. At over 30 locations in more than 15 countries worldwide, a highly-qualified workforce develops and produces complete solutions for the pharmaceuticals, food, and confectionery industries. These solutions are complemented by a comprehensive after-sales service portfolio. A global service and sales network provides customers with local points of contact.

Additional information is available online at www.boschpackaging.com

Mobility Solutions is the largest Bosch Group business sector. In 2018, its sales came to 47.6 billion euros, or 61 percent of total group sales. This makes the Bosch Group one of the leading automotive suppliers. The Mobility Solutions business sector pursues a vision of mobility that is accident-free. emissions-free, and fascinating, and combines the group’s expertise in the domains of automation, electrification, and connectivity. For its customers, the outcome is integrated mobility solutions. The business sector’s main areas of activity are injection technology and powertrain peripherals for internal-combustion engines, diverse solutions for powertrain electrification, vehicle safety systems, driver-assistance and automated functions, technology for user-friendly infotainment as well as vehicle-to-vehicle and vehicle-to-infrastructure communication, repair-shop concepts, and technology and services for the automotive aftermarket. Bosch is synonymous with important automotive innovations, such as electronic engine management, the ESP anti-skid system, and common-rail diesel technology.

Bosch Sensortec GmbH is a fully owned subsidiary of Robert Bosch GmbH that is dedicated to delivering a complete portfolio of microelectromechanical systems (MEMS) sensors and solutions that enable consumer electronics to be connected. Bosch Sensortec develops and markets a wide portfolio of MEMS sensors and solutions tailored for smartphones, tablets, wearable devices and IoT (Internet of Things) applications.

The product portfolio includes 3-axis acceleration, gyroscope and geomagnetic sensors, integrated 6- and 9-axis sensors, environmental sensors, and a comprehensive software portfolio. Since its foundation in 2005, Bosch Sensortec has emerged as the MEMS technology leader in the markets it addresses. Bosch has been both a pioneer and a global market leader in the MEMS sensor segment since 1995 and has, to date, sold more than 7 billion MEMS sensors. Bosch sensors can be found in three out of four smartphones worldwide.

For more information, go to www.bosch-sensortec.com, twitter.com/boschMEMS.

Bosch Healthcare Solutions GmbH is a wholly owned subsidiary of Robert Bosch GmbH. The subsidiary was established in 2015 with the aim of developing products and services that improve people’s health and quality of life. More than 80 associates are currently employed at the company’s headquarters in Waiblingen, Germany (2016). The subsidiary’s solutions draw on the Bosch Group’s core competencies: sensors to collect data, software to evaluate that data, and services based on this data analysis.

More information is available online at www.bosch-healthcare.com/en/

The Bosch Group is a leading global supplier of technology and services. It employs roughly 410,000 associates worldwide (as of December 31, 2018). The company generated sales of 78.5 billion euros in 2018. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 460 subsidiary and regional companies in over 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. At nearly 130 locations across the globe, Bosch employs some 68,700 associates in research and development.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPresse.

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