Bosch Increased Sales and Business Results in 2023

Bosch Increased Sales and Business Results in 2023

The Bosch Group said it has met its expectations despite the challenges of the 2023 business year. According to preliminary figures, the company generated sales of €91.6 billion and grew 8% after adjusting for exchange-rate effects (nominal growth of 4%). The EBIT margin from operations reached 5%, a slight improvement on the previous year (4.3%), and has met expectations.

“For Bosch, 2023 was tougher than expected. Through a supreme effort, we were able to increase our sales and improve our margins. We made progress despite the strong headwind,” said Stefan Hartung, chairman of the board of management of Bosch. “Given the difficult conditions, this is an impressive achievement by our associates. The years ahead will demand a lot from all of us as well.”

In the past business year, Bosch was able to further expand its growth areas, advance the transformation of its mobility business, and strengthen the competitiveness of all its business areas. “We’re continuing to invest proactively in technologies that will shape the future – especially technologies related to climate action. However, we’re seeing a delay in the market penetration of such technologies, and momentum from the market has slowed. We need to respond to the weaker order situation and work hard on our competitiveness – that’s the only way we can finance our future growth,” Hartung said.

At €56.3 billion in 2023, Mobility remained the Bosch business sector with the strongest sales. It achieved growth of 7%, or 11% adjusted for exchange-rate effects. The Industrial Technology business sector achieved sales of €7.5 billion. This figure is 8% higher than in the previous year due to the acquisition of HydraForce. Adjusted for exchange-rate effects, this represents an increase of 10%. In the Consumer Goods business sector, sales amounted to €19.9 billion. At 7%, sales were down on the previous year; adjusted for exchange-rate effects, this was a slight decline of 1%. The Energy and Building Technology business sector saw strong sales growth of 9% to €7.6 billion. After adjusting for exchange-rate effects, this increase rises to 11%.