Bosch expects global economic growth to slow

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28 April 2012

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The Bosch Group expects global economic growth to slow. Accordingly, the technology and services company expects to see comparatively modest sales growth of between 3 and 5 percent in the current year. This was announced by Franz Fehrenbach, the chairman of the Bosch board of management, at the annual press conference held at company headquarters near Stuttgart. “There is still a great deal of uncertainty with regard to future economic developments, even though the sovereign debt crisis in the euro zone has been defused slightly,” Fehrenbach said. In the first quarter of 2012, sales increased year on year by some 5 percent, despite the cooling of the global economy and difficult developments in a number of European markets. The greatest relative growth was achieved in Industrial Technology, followed by Automotive Technology. Developments in the Consumer Goods and Building Technology business sector were more moderate.

In fiscal 2011, Bosch grew more strongly than expected, despite a weaker global economy. Its sales increased by 9.0 percent to 51.5 billion euros. Profit before tax stood at 2.6 billion euros, compared with 3.5 billion euros in the previous year. At 5.1 percent, return on sales thus remained below the target range. “However, given the persistence of high raw materials prices and continued upfront investments in new areas of business, it will be difficult to achieve our target rate of return on sales of 7 to 8 percent this year,” Fehrenbach said.

Source: bosch-presse.de

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