Bosch “respectable showing” in 2024 financials, sights Mobility and AI as future growth drivers
Amid Bosch’s latest published results, released today (31 Jan), where the technology and services giant saw sales revenue slightly fall (roughly on par with ’23 after currency adjustments), the group emphasised that its Mobility business sector (including its eBike Systems section) and AI are set to be core areas of future growth.
The Mobility business sector generated sales revenue of €55.9 billion, roughly reaching the previous year’s level. Despite the declining market, sales revenue remained virtually unchanged after adjusting for exchange-rate effects, said Bosch.
Group-wide, Bosch generated sales revenue of €90.5 billion in 2024, according to preliminary figures. In nominal terms, that’s a 1% year-on-year fall, and roughly on a par with the previous year when adjusted for exchange-rate effects. This equates to an EBIT margin from operations of 3.5%.
“Despite our best efforts, Bosch, too, was not completely immune to economic developments, but we made a respectable showing compared to our industry peers,” said Stefan Hartung, chairman of the board of management of Robert Bosch GmbH. “Our technologies for the mobility and homes of the future remain key growth areas for us.” Hartung noted efforts to strengthen competitiveness and growth in the 2024 fiscal year through strategic portfolio decisions involving both acquisitions and divestments, as well as certain structural adjustments the company made in ’24.
Mobility and AI
Bosch has been betting big on artificial intelligence, as part of its intelligent software and digital services: “AI has also become an integral part of our products and solutions.”
Bosch expects to generate sales of more than €6 billion euros with software and services by the beginning of the next decade, two-thirds of this within the Mobility business sector. Readers may recall that Bosch introduced how it was utilising AI in its eBike tech at last year’s Eurobike. Bosch’s eBike Flow app offers tailored route planning, navigation and activity tracking, using tech from its partners and using artificial intelligence.
Regional variations: Beleagured Europe
Bosch’s European business was particularly affected by the economic situation, with sales revenue down 5% year-on-year to €44.5 billion. Developments in North America and China meant that sales revenue growth in the Americas and Asia Pacific was also on the subdued side. In North America , sales revenue grew by 5% to €16 billion euros. Sales revenue in South America totalled €1.8 billion, a nominal increase of 6%, or an exchange rate-adjusted 12%. In Asia Pacific, sales revenue grew to €28.1 billion. Nominal growth was 1%, or 3% after adjusting for exchange-rate effects.
2025 outlook
So will it be a case of ‘thrive in 2025?‘ Bosch expects a challenging environment in the next 12 months or so.
“Worldwide, we anticipate that growth will remain only moderate,” Forschner said. “We don’t expect the global economy to pick up again before 2026.” As things stand, Bosch assumes that the economy will grow by just 2.5% in 2025. To implement its growth strategy, the company remains focused on its financial targets. “Even in the face of persistently adverse conditions, we want to further improve our sales and result in the 2025 fiscal year,” Forschner said. “Sensible savings and focused investments ensure that we have the necessary room for maneuver,” Forschner said. He added that it will not be easy, requiring great effort and not ruling out “painful decisions”.
PICTURED TOP: Tanja Rückert and Paul Thomas at the Bosch press conference earlier this year, at CES 2025 (C) Bosch