Robert Bosch GmbH, the multinational engineering and electronics company headquartered in Gerlingen, near Stuttgart, Germany on Tuesday posted an 8.8 percent revenue rise to EUR51.4 billion in 2011 from the prior year.
“Despite the economic uncertainties, we expect a revenue rise between 3% and 5% for Bosch group in 2012,” CEO Franz Fehrenbach told reporters during an evening event at the historical Bosch House, the former home of the company’s founder Robert Bosch. His remarks were embargoed for release until Wednesday.
The world’s largest automotive supplier said it is spending around 400 million euros a year on electric-vehicle technology. That reflects expectations that, by 2013, 21 projects for hybrid and all-electric powertrains will go into series production at 13 automakers.
Bosch has more than 350 subsidiaries across over 60 countries and its products are sold in around 150 countries. In 2010 it invested around €3.8 billion in research and development and applied for over 3,800 patents worldwide.
No expectation of global recession
For 2012, Bosch expects the global economy to further weaken, but does not expect any global recession. Following an estimated 3.2 percent in 2011, the company predicts global economic growth of some 2.5 percent in 2012.
“Whether we see stagnation or even a recession depends largely on how rigorously and quickly the necessary reforms are carried out in the euro zone.”
The Bosch Group comprises Robert Bosch GmbH and its more than 350 subsidiaries and regional companies in some 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries.