Bosch hits 2022 targets, secures growth opportunities

Image credit: Bosch

German engineering company Bosch said it was able to boost sales and performance in the fiscal year 2022 “despite the challenging macroeconomic situation” with overall sales of €88.4 billion (AUD $137.5 billion), according to preliminary figures. 

A press release by the company reported that sales climbed by around 12 per cent over the previous year, or about 10 per cent when currency rate effects are taken into account. 

Operating EBIT, or earnings before interest and taxes, amounted to €3.7 billion (AUD $5.8 billion), and the EBIT margin from operations is expected to be around 4 per cent.

At the presentation of the business’s preliminary financial data, Robert Bosch GmbH Chairman of the Board of Management Dr Stefan Hartung said, “The difficult 2022 business year once again demonstrated that Bosch is crisis-proof while possessing tremendous innovative strength.”

The Bosch official added that the company is increasing its global presence and making targeted investments to secure growth potential in a still-challenging environment. 

“We want to offer people around the world technology that is ‘Invented for life’ and thus make a meaningful contribution to society – from climate-friendly heating to energy saving and sustainable mobility,” Hartung stated.

Meanwhile, according to the company, additional demand from developing nations like those in the ASEAN area will pave the way for additional market expansion. 

In light of this, Hartung said he believes the business is well positioned with regard to the economic and energy policy situation.

Hartung also sees that advancing renewable energy will help to reconcile the competing demands of environmental and economic sustainability.

“The transformation of energy systems needs to remain affordable, must not lead to power supply failures in businesses or households, and should leave fossil fuels behind wherever possible,” the Bosch official noted.

As a result, Bosch said it expects to register sales of €6 billion (AUD $9.3 billion) in this segment by as early as 2026.