Bosch, a global technology and services provider, recorded sales revenue of €90.5 billion in 2024, reflecting a 1% decline compared to the previous year, according to preliminary figures. Adjusted for exchange-rate effects, revenue remained steady. The company reported an EBIT margin from operations of 3.5%.
“Despite our efforts, Bosch could not fully shield itself from market conditions, but we performed reasonably well compared to our industry peers,” said Stefan Hartung, Chairman of the Board of Management at Robert Bosch GmbH. He emphasized that mobility and home solutions remain key areas of growth. In 2024, Bosch made strategic portfolio decisions, including acquisitions and divestments, while also implementing structural adjustments to enhance competitiveness.
The company’s business was impacted by weaker-than-expected growth in sectors such as electric mobility. Slower demand, underutilized capacity, and high upfront investments in future technologies weighed on profitability. Nevertheless, Bosch remains committed to its long-term vision. By 2030, it aims to be a leading supplier in key markets, targeting an annual growth rate of 6–8% and a minimum margin of 7%.
Bosch continued executing its Strategy 2030 plan, achieving key milestones, including the proposed €8 billion acquisition of the HVAC business from Johnson Controls and Hitachi. This move aims to strengthen Bosch’s position in high-growth regions like the U.S. and Asia. Despite economic challenges, the company remains focused on driving innovation and expanding its technological footprint.
In line with its strategic shift, Bosch divested major portions of its Building Technologies division’s security and communication product businesses, allowing it to concentrate on systems integration. These steps are intended to balance Bosch’s portfolio, enhance resilience, and position the company for future success.
Bosch continues to focus on electromobility, hydrogen, and sustainable solutions to address climate challenges. One notable development is a cryogenic pump under testing in the U.S., capable of compressing 600 kilograms of liquid hydrogen per hour—enabling trucks to refuel within 10 minutes for a 1,000-kilometer journey.
In the home appliance sector, Bosch is introducing an energy-efficient built-in XXL fridge-freezer, the first to feature manufacturer-independent connectivity through the Matter standard. The company is also investing heavily in AI, with around 5,000 specialists working on applications such as an AI-assisted emergency call service for elevators that supports multiple languages without requiring hardware modifications.
Artificial intelligence and digital solutions are playing an increasingly significant role in Bosch’s business. “We are integrating AI into our processes to enhance quality and productivity across our operations,” Hartung noted. The company projects over €6 billion in software and services revenue by the early 2030s, with two-thirds coming from the Mobility division.
Bosch’s AI-driven innovations include Vehicle Motion Management, which supports advanced brake-by-wire systems, eliminating the need for mechanical brake pedal connections. These developments reinforce Bosch’s position as a key partner for global technology leaders.
The company is calling for policy changes in Germany and the EU to boost economic competitiveness, advocating for reduced regulations, increased investments, and greater market liberalization. Hartung emphasized the need for action on energy prices, infrastructure investment, and bureaucracy reduction to keep Europe competitive. Bosch plans to allocate 40% of its global investment budget to German operations in 2025.
Market conditions influenced Bosch’s performance across business sectors. The Mobility division recorded €55.9 billion in revenue, maintaining prior-year levels despite a weak market. Industrial Technology sales declined 13% to €6.5 billion, impacted by sluggish demand in Europe, China, and the U.S. The Consumer Goods segment grew 2% to €20.3 billion, marking its first sales increase since the post-pandemic slowdown. The Energy and Building Technology segment saw a 3% drop in revenue, primarily due to weaker demand in Europe’s heating market.
Regionally, Europe was the hardest hit, with sales falling 5% to €44.5 billion. North America grew 5% to €16 billion, while South America posted a 6% increase, or 12% after currency adjustments. In Asia-Pacific, revenue reached €28.1 billion, reflecting modest growth of 1%, or 3% when adjusted for exchange rates.
At the end of 2024, Bosch employed approximately 417,900 people globally, down 3% (11,500 fewer employees) from the previous year. The most significant workforce reductions occurred in Europe and Asia, with Germany seeing a 3% decrease (4,400 fewer employees), bringing the total to around 129,800.
Looking ahead to 2025, Bosch expects economic conditions to remain difficult. “We anticipate only moderate global growth, with a full recovery unlikely before 2026,” said CFO Markus Forschner. The company forecasts economic expansion of just 2.5% in 2025 and is focused on achieving its 7% target margin by 2026.
To navigate challenges, Bosch plans to enhance cost efficiency, optimize investments, and maintain financial flexibility. “Sensible savings and targeted investments will ensure we remain competitive, though the road ahead will require tough decisions,” Forschner concluded. Despite a challenging year, Bosch remains committed to innovation, sustainability, and long-term growth, positioning itself as a leader in the evolving global marketplace.
The Bosch Group is a globally renowned supplier of technology and services, employing approximately 417,900 associates as of December 31, 2024. In 2024, the company reported sales of 90.5 billion euros, reflecting its strong market presence across four key business sectors: Mobility, Industrial Technology, Consumer Goods, and Energy and Building Technology.
Bosch is dedicated to shaping global trends such as automation, electrification, digitalization, connectivity, and sustainability through its technological expertise. Its broad regional and industrial diversification enhances its ability to innovate and adapt, ensuring resilience in a rapidly evolving market. With a strong focus on sensor technology, software, and AI-driven solutions, Bosch delivers integrated cross-domain products that enhance user experience while conserving natural resources.
Founded in Stuttgart in 1886 by Robert Bosch as the “Workshop for Precision Mechanics and Electrical Engineering,” the company has evolved into a global leader with around 470 subsidiary and regional entities across more than 60 countries. Its extensive network, including sales and service partners, spans nearly every country worldwide. Bosch’s commitment to innovation is evident in its 136 R&D locations, where approximately 86,900 professionals, including nearly 48,000 software engineers, drive technological advancements.
The company’s unique ownership structure ensures financial independence and long-term strategic planning, with 94% of Robert Bosch GmbH’s share capital held by the charitable Robert Bosch Stiftung GmbH. The majority of voting rights are controlled by Robert Bosch Industrietreuhand KG, which upholds the founder’s vision of securing the company’s long-term success and independence.
