Robert Bosch GmbH is expecting its sales to grow between 3 and 5 percent this year, even as it shifts its focus onto Asian markets and developing Internet-connected sensors. Bosch intends to penetrate into a thriving market for Internet-enabled devices and systems that allows autonomous driving.
Bosch Chairman Volkmar Denner remarked that they would continue with their traditional business while opening up new fields, allowing them to benefit from their broad technological and industrial expertise.
The company said that the focus shift toward more sophisticated vehicles should lead to a 25-percent surge in ultrasound sensor output this year to 50 million devices, and a doubling of radar and video sensors production to more than 2 million units.
Bosch disclosed that its sales in the first quarter of 2014 surged by around 7 percent while its automotive technology business sector had gained "impressively."
The supplier also expects sales of driver assistance systems to top EUR1 billion as early as 2016, as cars become more sophisticated and lead to new business opportunities.
Aside from developing more Internet-enabled products, Bosch also seeks to expand outside its home region Europe, with an aim to doubling its Asia, North and South America by the end of the decade. Bosch plans to hire 9,000 university graduates from around the world to its 281,000-strong global workforce.
The supplier disclosed that it posted EUR2.75 billion in earnings before interest and tax in 2013, excluding EUR1.3 billion in extraordinary charge for losses on its solar business. EBIT margin was 6 percent for 2013.
Bosch’s industrial technology and packaging machinery businesses also logged good growth in 2013, while drive and control technology division slumped, no thanks to a current global weakness in the mechanical engineering sector.