FARMINGTON HILLS, MI --
The Bosch Group has reported increased sales worldwide for 2004. The company said sales increased 10 percent, reaching $49.7 billion.
"All in all, the fiscal year 2004 was a good one for us," said Franz Fehrenbach, chairman of the board of management, Robert Bosch GmbH. "The Bosch Group's wide global presence meant that it was able to profit from the very favorable economic conditions worldwide. Equally important, the high level of up-front investment made by Bosch in previous years is now beginning to pay off."
The company said while it experienced growth in all sectors, its Automotive Technology and Industrial Technology sectors were particularly successful in 2004.
Globally, Automotive Technology revenue rose 7 percent in 2004, totaling $31.4 billion. In Industrial Technology, sales increased by 21 percent, reaching $6.5 billion. Key growth contributors were the full-year inclusion of the 2003 acquisition of Buderus AG Castings and Special Steel divisions and the pro-rated inclusion of packaging machinery manufacturer Sigpack, acquired in 2004. After adjusting for consolidation effects, the growth rate was 9 percent.
With a full-year inclusion of Buderus heating systems, the Consumer Goods and Building Technology business sector achieved a 13 percent growth rate in 2004, totaling $11.8 billion. Adjusting for consolidation effects, growth was almost 6 percent.
The Bosch Group came one step closer to its minimum target of 7 percent return on sales. The result, just over 6 percent of sales compared to 5 percent in 2003, is attributed to better plant capacity utilization as a result of positive economic developments, significant improvements in business processes and technology investments made in previous years, especially in modern diesel systems.
In 2004, Bosch revenue in North America grew 17 percent, resulting in sales surpassing $7.5 billion.
For more information about Bosch, go to: www.bosch.us.
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