For 2023, Bosch expects 6 percent to 9 percent revenue growth from 88.2 billion euros in 2022 and an EBIT (earnings before interest and taxes) margin of 5 percent, up from 4.3 percent in 2022. The main growth drivers will be the cars and heating systems businesses, Bosch said.
CEO Stefan Hartung said new business in both areas is a result of the transformation of energy systems to protect the climate creates.
The 2022 figures represented an across-the-board improvement over 2021, when revenue was 78.7 billion euros, with EBIT of 3.2 billion euros and a margin of 4 percent. The company reported preliminary figures in February.
Of Bosch’s’ 2022 revenue, Mobility Solutions accounted for 52.6 billion. Sales were up by 16 percent, with margin at 3.4 percent versus 0.7 percent in 2021.
“Despite chronic chip shortages and only weak growth in automotive production, we were able to considerably increase our mobility-related sales,” CFO Markus Forschner said in a release. “And we too were forced to adapt our prices to increased costs.”
Bosch is not a publicly traded company, with 94 percent of share capital held by Robert Bosch Siftung, a charitable foundation.
Bosch is ranked No. 1 on the Automotive News list of the top 100 global suppliers, with worldwide sales to automakers of $49.14 billion in 2021.
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