Robert Bosch logs 3% hike in revenues in 2013 helped by automotive unit

Article by Christian Andrei, on January 24, 2014

Robert Bosch posted a 3-percent surge in revenues in 2013 to EUR46.4 billion, supported mainly by a 7-percent rise in revenues at its automotive unit to EUR30.7 billion ($41.7 billion). The surge in the division’s revenues was attributed to strong demand for gasoline direct-injection and diesel-injection system, Bosch said in a statement based on preliminary figures.

According to a spokesman, the unit posted an 8-percent margin in earnings before interest and taxes margin of 8 percent, up from 4.5 percent in 2012. Bosch’s 2013 revenue was hit by a EUR1.5 billion burden attributable to foreign exchange fluctuations. In April 2013, Bosch said it expected an overall sales growth of up to 4 percent.

Excluding an extraordinary EUR1.3 billion charge for losses on its solar business, Bosch's overall EBIT margin in 2013 would have been 6 percent, according to preliminary figures. Bosch will disclose its 2013 full-year earnings on April 30, 2014. Bosch officials have said that they don’t expect significant charges this year.

Bosch expects its profit margins to increase in 2014 as Europe's economy heads for a rebound and as extra costs from the solar-energy division it is getting rid off recedes.

"We want to make a further step toward our profitability goal" of an EBIT margin of 8 percent, said Bosch chief executive Volkmar Denner. The company is planning to complete its pullout from the solar industry in the "coming weeks and months." Bosch expects the economy in the European Union to grow 0.7 percent in 2014. It managed to offset the slump Europe by expanding in Asia and North America.

Topics: bosch

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

For those who love driving, future autonomous cars should be like the Toyota Concept-i that is drawing in a multitude of visitors at the 2017 Consumer Electronics Show in Las...
by - January 15, 2017
Things are looking good at Rolls-Royce Motor Cars as the British luxury carmaker impressed by posting a six-percent jump in deliveries in 2016. Rolls-Royce’s 2016 deliveries of 4,011 units in...
by - January 15, 2017
British luxury sports car maker Jaguar is introducing a bevy of subtle updates to the 2018 Jaguar F-Type Facelift. However, these updates are so subtle that they are barely noticeable...
by - January 14, 2017
As far as Automobili Lamborghini S.p.A. is concerned, 2016 was a very fruitful year. This is all due to the fact that the luxury sports carmaker has delivered the most...
by - January 14, 2017
Earlier reports revealed that Infiniti was at the point of considering an electric car for the future. Prior to this, the company has in fact unveiled two concepts already--- the...
by - January 13, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries