A successful business year in 2021 – Uncertainties and cost increases cloud the outlook for the current year
- 2021: Sales: 78.7 billion euros / EBIT: 3.2 billion euros.
- Entering the 14-billion-euro market for hydrogen electrolysis – Bosch to invest nearly 500 million euros in this new area of business by 2030
- Electromobility orders exceed ten billion euros for the first time.
- Stefan Hartung: “Electrification is the fastest route to climate neutrality.”
- Dr. Markus Forschner: “The Bosch Group rose well to the challenges of 2021, yet the pressure on result is intensifying.”
- Filiz Albrecht: “In times of change, social responsibility means taking as many associates as possible with us into new areas of business.”
- Dr. Christian Fischer: “Bosch will be investing 300 million euros in the heat-pump business by 2025.”
- Rolf Najork: “Connected energy management opens the door for energy efficiency in factories.”
- Dr. Markus Heyn: “Bosch is the number one supplier for electrical powertrains on the road.”
Stuttgart and Renningen, Germany – In the 2021 business year, Bosch achieved significant growth in sales and result despite a difficult environment. Sales revenue generated by the supplier of technology and services rose by 10.1 percent to 78.7 billion euros, and operating result (EBIT from operations) increased by more than half to reach 3.2 billion euros. The EBIT margin from operations improved to 4 percent, compared with 2.8 percent in the previous year. “The successful outcome of the 2021 business year bolsters our confidence as we tackle the challenging environment of the current year,” said Dr. Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, at the presentation of the company’s annual figures.
One of the considerable uncertainties is the war in Ukraine and all its implications. The company takes its responsibility for its associates very seriously. At the same time, it has been providing extensive humanitarian assistance since day one, especially to relieve the suffering of refugees. “Where people are fighting to survive, our thoughts go out to them and we share their fears,” the Bosch chairman said. He added that war cannot solve political conflict. In his view, the current situation highlights the pressure on policymakers and society to become less dependent on fossil fuels and to vigorously pursue the development of new sources of energy. For this reason, he said, the Bosch Group is systematically continuing its efforts to mitigate global warming, despite the challenging economic environment. In addition, Hartung announced Bosch will be investing some three billion euros over three years in climate-neutral technology such as electrification and hydrogen.
Hartung believes the war will slow progress in reducing carbon emissions in the short term. Over the long term, however, it will accelerate the technological transformation in Europe. “Policymakers could take this as their cue to act with more determination – whether in providing incentives to make existing buildings more energy efficient, or in massively expanding renewable power generation,” Hartung said. He believes electrification is the fastest route to climate neutrality, provided it is based on green electricity. That is why Bosch is driving sustainable mobility forward: in 2021, the company’s orders relating to electromobility exceeded ten billion euros for the first time. But Hartung also stressed that hydrogen is needed as well. “Industrial policy should focus on making all sectors of the economy hydrogen-ready,” he said. “Electricity-based solutions have priority, but hydrogen-based solutions also need to gain more momentum. We’ll need both if we are to live sustainably on our blue planet.” At the same time, the Bosch chairman announced that, over the next three years, the company will be investing another ten billion euros in digitally transforming its business. “Digitalization also has a special role to play in sustainability – and our solutions start from this premise,” Hartung said. Examples of such solutions in the Bosch portfolio include the smart home energy manager and the connected manufacturing energy platform.
