Hard Year Left a Mark on Bosch Business Results

Bosch generated sales revenue of €90.5 billion in 2024, according to preliminary figures. In nominal terms, this is a 1% year-on-year fall, and roughly on par with the previous year when adjusted for exchange-rate effects. This equates to an EBIT margin from operations of 3.5%.

“Despite our best efforts, Bosch, too, was not completely immune to economic developments, but we made a respectable showing compared to our industry peers,” said Stefan Hartung, chairman of the board of management of Bosch. “Our technologies for the mobility and homes of the future remain key growth areas for us.”

He pointed to efforts to strengthen competitiveness and growth in the 2024 fiscal year through strategic portfolio decisions involving both acquisitions and divestments. And, he added, the company also had to make certain structural adjustments.

In addition to the weak growth of the global economy, the Bosch Group’s business development was adversely affected by the fact that growth markets such as electromobility developed much more slowly than expected. A lack of sales in these areas and the accompanying underutilized capacity, as well as continued high upfront expenditure for future technologies and provisions for necessary strategic adjustments, hurt the result.

Despite all the challenges, Bosch continues to rigorously pursue its ambitious business goals. By 2030, the company aims to be among the leading suppliers in its areas of business in key markets. Moreover, the company is striving for an average annual growth of between 6% and 8%, with a margin of at least 7%.

In the current year as well, the Bosch Group expects a highly challenging environment. “Worldwide, we anticipate that growth will remain only moderate,” said Markus Forschner, Bosch CFO. “We don’t expect the global economy to pick up again before 2026.”

As things stand, Bosch assumes that the economy will grow by just 2½ percent in 2025. To implement its growth strategy, the company remains focused on its financial targets. “Even in the face of persistently adverse conditions, we want to further improve our sales and result in the 2025 fiscal year,” Forschner said. In his view, only profitable growth will enable the company to continue its strong and meaningful development.

Accordingly, Bosch aims to achieve its target margin of 7 percent by 2026. The objective is to further increase competitiveness at all levels – from attractive products and acceptable costs to suitable structures for a forward-looking portfolio. “Sensible savings and focused investments ensure that we have the necessary room for maneuver,” concluded Forschner.