Bosch’s Sales reached over €70 Billion in 2016

Bosch’s Sales reached over €70 Billion in 2016

In 2016, sales of the Bosch Group rose by 5.4 percent to some 73.1 billion euros, thanks to the rapid evolution of connectivity technologies that propeled the growth, said the company press released issued on 20 February.

Bosch Group is a leading global supplier of technology and services with roughly 390,000 associates worldwide. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. Bosch started its business in Cambodia in January 2010 and is currently represented in the country by Robert Bosch (Cambodia) Co. Ltd.

After adjusting with the negatively impact from the worldwide exchange-rate effects to the tune of some 1.3 billion euros, the group expresses increased sales in 2016 in all business devisions except the industrial Technology.

The Mobility Solutions business sector grew 7 percent with sales revenue reached 44 billion euroos in 2016, thus more strongly than global automotive production. In gasoline injection systems, Bosch posted a new record, selling 250 million high-pressure injectors. The company was especially successful with driver-assistance and infotainment systems.

The Consumer Goods business sector grew 6.2 percent to 17.7 billion euros in sales revenue. Both Power Tools and BSH Hausgeräte GmbH again presented many connected products in 2016.

Sales of the Energy and Building Technology business sector grew by 3.2 percent to 5.2 billion euros. The Thermotechnology, Security Systems, and Service Solutions divisions are posting ever greater sales with connected solutions such as smart heating systems, video technology, and services such as the eCall emergency service and the concierge service.

The Industrial Technology business sector posted a 4.5 percent year-on-year drop in sales to 6.3 billion euros. Above all, developments in markets such as China, Russia, and Brazil are continuing to create difficulties for the Drive and Control Technology division. In 2016, business in the Packaging Technology division remained roughly on a par with the previous year.

“Despite unfavorable conditions, we achieved our growth forecast in 2016,” said Dr. Volkmar Denner, chairman of the board of management of Robert Bosch GmbH. “Bosch is in the midst of its most fundamental transformation process ever. Industries, markets, technologies – Bosch is actively shaping change.”

When it comes above all to connectivity over the internet of things (IoT) and the transition to electromobility, Bosch is making upfront investments running into billions of euros. In 2016, the company increased its research and development spending to roughly 6.6 billion euros.

Bosch wants to be a leading IoT supplier. The company sees huge growth potential in the business with intelligent digital assistants.

As Bosch sees the IoT is getting personal, the group is establishing the artificial intelligence center to personalize connectivitiy technologies. For this reason, Bosch is investing some 300 million euros in a new center for artificial intelligence, which will round off its IoT expertise.

For 2017, Bosch is forecasting only moderate growth of 2.3 percent for the global economy. The supplier of technology and services sees risks to the economy above all in political developments in the U.S. and Europe. In 2017, Bosch again intends to stay on its growth course, and to grow faster than its respective markets. It wants to further improve the competitive and profit situation of all its divisions. 

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