Economic realities hit technology group
Bosch recently presented preliminary business figures for 2024 and reported on a difficult development.
Accordingly, turnover in 2024 fell nominally by one percent to 90.5 billion euros compared to 2023. Operating EBIT fell to 3.2 percent. According to the 2023 annual report, the Group achieved an operating EBIT of 4.8 billion euros in the previous year. For 2024, Bosch is forecasting an operating EBIT margin of 3.5 percent.
Stefan Hartung, Chairman of the Board of Management of Robert Bosch GmbH, commented: "Despite its best efforts, Bosch was also unable to escape the economic realities, but was still able to hold its own respectably compared to the rest of the industry."
According to the company, weak growth in the global economy and significant market delays in growth areas such as electromobility had an impact on the Bosch Group's business development.
Despite all the challenges, Bosch is consistently pursuing its ambitious business goals, the company said in its press release. By 20230, the technology company says it intends to be one of the leading providers in key markets in its fields of business. It also aims to increase sales by an average of six to eight percent annually. To achieve this, Bosch is aiming for a return of at least seven percent.
According to Stefan Hartung, the technologies for the mobility of tomorrow and the home of the future remain important growth areas for Bosch.