Sales and earnings targets met: Sales increased to €88.4 billion in 2022, with EBIT of €3.7 billion.
Dr. Stefan Hartong, Chairman of the Board of Directors of Bosch Group: “Above all, climate action requires international cooperation.”
Dr. Christian Fischer, Vice Chairman of the Board of Directors of Bosch Group: “The transformation of the energy system must be affordable.”
Dr. Markus Forschner, Chief Financial Officer of Bosch Group: “In a difficult environment, Bosch achieved its fiscal year targets.”
Filiz Albrecht, Chief Human Resources Officer, Bosch Group: “In the future, Bosch will employ more than 50,000 people in the field of software development.”
Despite macroeconomic challenges, the Bosch Group, a leading global provider of technologies and services, achieved growth in sales and earnings in fiscal year 2022. According to preliminary results, Bosch Group sales increased by about 12 percent year-on-year to 88.4 billion euros, an increase of about 10 percent after adjusting for currency effects. Group EBIT reached €3.7 billion and the EBIT margin is expected to be around 4%. “The fiscal year 2022 was difficult, but it also showed that Bosch not only has outstanding innovation strength, but also has a good ability to withstand crises.” Dr. Stefan Hartung, Chairman of the Board of Directors of the Bosch Group, said, “In challenging times, we are positioned for global growth opportunities through targeted investments and expanded international operations, as well as making a useful contribution to society by bringing ‘the beauty of life through technology’ to people’s lives, including climate-friendly heating, energy conservation, carbon reduction and sustainable transportation.”

Financial year 2022 performance

DS2020DACAG2

Recently, Bosch announced that it will establish Bosch new energy vehicle core components and autonomous driving research and development and manufacturing base in Suzhou, China, with a cumulative investment of about 7 billion yuan (about 950 million euros) in the future. The R&D and manufacturing site will produce electrified, automated intelligent transportation solutions and products that meet the needs of the local market. Bosch is also continuing to promote Europe as a “high-tech hub”. “The expansion of our Dresden and Reutlingen fabs is an excellent example of this.” “We plan to invest an additional 3 billion euros in our semiconductor business by 2026, which will help alleviate the automotive chip shortage,” Dr. Hartong said. Bosch will also further focus on the expansion of its business in markets such as Egypt, India, Mexico, the United States and Vietnam.

Bosch is systematically expanding its chip manufacturing capabilities

Improve digital skills

Global Trade: Collaboration is essential for prosperity and climate action

Bosch believes that the changes in the market and technology environment brought about by interconnection, automation and electrification, as well as the increasing importance of sustainability, will be the growth drivers for the Group in the coming years. In addition, the increasing demand in emerging regions such as Southeast Asian countries also brings market opportunities for the Group’s development. In this context, Dr. Hartong believes that Bosch has an advantage in economic and energy policy. However, inflation caused by energy shortages could have a negative impact on consumption and affect currency stability in the long run. Dr Hartong therefore calls for central banks to tighten monetary policy. At the same time, he cautioned against fragmentation in the global economic system: “The fragmentation of the economic system will affect everyone by impeding innovation and assets.” “Above all, climate action requires international cooperation,” he said.

Dr Hartong believes that the further development of renewable energy is one way to resolve the conflict between environmental and economic sustainability goals. “The transformation of the energy system must be affordable, do not create difficulties for businesses or households in supplying energy, and reduce dependence on fossil fuels as much as possible.” He said that Bosch is playing an important role in this field and is also accelerating the development of fuel cell and hydrogen energy technologies. “In the field of electric mobility, Bosch has a high order volume. As a result, we expect sales to reach €6 billion as early as 2026. In the Chinese market, our bridge and motor businesses are expected to be profitable this year.”