Annual financial results 2017 Bosch continues strong growth in Thailand

General Press Releases Tuesday June 5, 2018 15:08
Bangkok--5 Jun--ABM
Thailand top revenue generating market for Bosch in Southeast Asia for the fifth consecutive year
  • Consolidated sales reach 12.8 billion baht (335 million euros) in Thailand, a 7.5 percent increase from the previous year
  • Investments of 1.6 billion baht in 2017 across all Bosch business sectors in Thailand
  • Connected manufacturing: Bosch opened first smart powertrain systems factory in Thailand

Bosch, a leading global supplier of technology and services, concluded its 2017 fiscal year with 12.8 billion baht (335 million euros) in consolidated sales in Thailand, registering a robust growth of 7.5 percent in local currency compared to the previous year. In 2017, Bosch recorded investments of 1.6 billion baht (more than 42 million euros) across all business sectors in Thailand. The number of associates employed at Bosch in Thailand reached nearly 1,400 as of Dec. 31, 2017, thus registering an increase of roughly 10 percent compared to the previous year.

Thailand is one of the top revenue generating markets for Bosch in Southeast Asia, primarily based on strong growth of the automobile business. "To drive future success especially in the domain of the Internet of Things, we are ramping up our solution and service offerings", said Joseph Hong, managing director of Bosch in Thailand. With broad knowledge in technology and industrial experience, the company is able to support and add value to Thailand's industries especially in the area of connectivity. "The Royal Thai government's initiative on the Eastern Economic Corridor project (EEC) has shown good progress in the past year, gaining international recognition and confirmation of support from many countries. It aims to drive the economic development of Thailand's Eastern Seaboard, for example by driving forward connected industry in the country. Bosch closely collaborates with the government and industry to accelerate adoption of smart manufacturing innovations in alignment with the Thailand 4.0 framework. We have also rolled out these solutions in our own plants", adds Hong.

Positive development across all business sectors

2017 was a landmark year for Bosch Mobility Solutions, with significant growth compared to the previous year. This increase was largely due to the Chassis Systems Control and Powertrain Solutions divisions. The Consumer Goods business sector is continuing to add more distribution channels and expanding its offerings in e-commerce. The Energy and Building Technology business sector recorded higher sales in 2017 due to improved demand from the growing manufacturing industry and continued government spending on infrastructure. Industrial technology registered growth from its factory automation business and built up a strong foundation to enhance its connected industry business.

Start of production at Bosch's new Powertrain Solutions plant

Bosch's global market leadership position in fuel injection services the growing base of vehicle manufacturers in Thailand. Its fuel injection factory, located at the Hemaraj Eastern Seaboard Industrial Estate, began production in 2017. The facility hosts the company's first R&D center in the country, enabling Bosch to continuously develop new solutions for local and international automotive players. Equipped with Industry 4.0 solutions, the new facility was planned as a smart factory. It demonstrates Bosch's extensive knowledge in the field of connectivity and is part of a network of more than 250 plants worldwide. Between 2015 and 2017, Bosch invested some 80 million euros in total in the new smart factory in Thailand.

Commitment to sustainability and career development for youth

Bosch in Thailand expanded its nationwide youth development programs in 2017. Initiatives included enhancing vocational training and career-building opportunities for disadvantaged youth. The aim is to provide guidance as they develop into tomorrow's leading professionals in the country. Bosch's longstanding support of non-profit organizations such as the Skills for Life Foundation and the Hand to Hand Foundation remained a priority in 2017. Bosch aims at developing vocational skills and provides train-the-trainer workshops to empower youth through passion and education. Bosch household appliances and power tools are featured in these classes providing practical and hands-on experience that will inspire them to become financially independent in the future. "We strongly believe in the importance of investing in the future of our communities, especially in education and upskilling. It is our hope that the youth who participate in our outreach programs can impart their skills and experience within the community for a more progressive future," said Hong.

Bosch Group: Global strategy and business outlook for 2018

Bosch is aiming for further growth in 2018, despite the difficult economic climate. After achieving record results in 2017, and in light of economic and geopolitical risks, the Bosch Group expects its sales revenue to grow by 2 to 3 percent in 2018. In the first three months, the sales revenue generated by the company matched the high level of the same period of the previous year, and even increased by around 5 percent when adjusted for exchange-rate effects. "Our company is unequaled when it comes to combining comprehensive connectivity expertise with broad industry and product know-how. This is the Bosch Group's unique selling proposition," said the Bosch CEO Dr. Volkmar Denner, speaking at the annual press conference in Renningen. Denner sees improving the quality of life and contributing to eco- and climate-friendliness at the top of Bosch's agenda: "Our 'Invented for life' ethos is our motivation for developing the best possible technologies for environmental protection. We want to help keep people mobile, while improving air quality." To make low-emissions traffic reality, the company is making heavy investments – both in making electromobility a market success and in enhancing the combustion engine. Bosch has now achieved a breakthrough in diesel technology: with their new diesel technology, Bosch engineers have succeeded in getting NOx emissions massively down. On average, test vehicles equipped with the enhanced technology already emit no more than 13 milligrams of NOx per kilometer. "There's a future for diesel. It will remain integral to tomorrow's mobility solutions," the Bosch CEO said. [More detailed information on these technological advances can be found at https://bit.ly/2HSU8GW.]

In the Asia-Pacific region, Bosch recorded a hefty 13.5 percent increase in sales in 2017 to 23.6 billion euros (exchange rate adjusted 16.5 percent). Bosch now generates 30 percent of its total sales revenue in Asia Pacific compared to 28 percent in the previous year.

About Bosch in Thailand

Bosch´s history in Thailand started in 1923. Bosch has diversified businesses in the country in all four of its business sectors of Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. The company has three manufacturing plants for mobility solutions, a facility for the sales and services of hydraulic equipment and machinery in Rayong, and a plant, which offers solutions and services of packaging machinery in Chonburi. In 2017, Bosch in Thailand generated sales of 12.8 billion baht (335 million euros) and employed nearly 1,400 associates. Additional information is available at www.bosch.co.th and https://www.facebook.com/BoschThailand.

About Bosch Group

The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,000 associates worldwide (as of December 31, 2017). The company generated sales of 78.1 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group's strategic objective is to deliver innovations for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life." The Bosch Group comprises Robert Bosch GmbH and its roughly 440subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch's global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company's future growth is its innovative strength. At 125 locations across the globe, Bosch employs some 64,500 associates in research and development.


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