Bosch Automotive Group expects a “clearly positive result” this year as it estimates a 25% increase in revenue this year to 27 billion euros (about $35.30 billion).
Bernd Bohr, chairman of Bosch Automotive, the world’s second-largest auto supplier, is confident that the company will be profitable this year. It can be recalled that last year, Robert Bosch GmbH, the parent company, lost money for the first time in over 60 years.
At the IAA Commercial Vehicles show, Bohr said that it is apparent that the company has “returned to the path of growth.”
He anticipates that the parent company’s total revenue will rise by about 20% to about 46 billion euros (about $60.15 billion at the current exchange rate). Bohr said that its business figures are nearing their levels in 2007, when it last peaked, “more quickly than expected.”
He said that this year, Bosch Automotive will add 5,000 employees for a total of 165,000. Despite the plunge in auto sales last year, privately held Bosch was able to keep its core work force intact. However, it placed workers in Germany on reduced schedules. Bohr also announced that those workers are returning to full schedules.
By the end of the year in Asia, Bosch will add 1,000 r&d employees. On Automotive News’ list of the top 100 global original-equipment parts suppliers, Bosch comes in second only to Toyota affiliate Denso Corp. Bosch generated estimated sales to automakers of $25.62 billion in 2009. [via autonews - sub. required]