Bosch Croatia Records Approximately 13 Percent Growth in 2022 Compared to the Previous Year

Bosch, a global supplier of technology and services, concluded the fiscal year 2022 with consolidated sales of 83.4 million euros in Croatia, marking a strong growth of approximately 13 percent compared to the previous year, the company stated in a press release.

– Despite the serious challenges we face globally and locally after the pandemic, which are also caused by the war in Ukraine, supply chain disruptions, rising inflation, and increasing costs, Bosch has once again achieved positive financial results in all business areas in Croatia. This is proof that the market recognizes the quality of Bosch and that we have managed to strengthen our already strong market position through the continuous introduction of new products and new technologies – stated Mirsada Kudrić, General Director of Bosch for Croatia and Slovenia.

As of December 31, 2022, Bosch had more than 80 employees in Croatia, including employees of unconsolidated companies. For the current business year, Bosch Croatia forecasts modest economic growth and expects global economic production to grow by less than 2 percent.

– Although we expect a challenging environment again this year in Croatia given the current situation, we anticipate stable operations and remain committed to the local market and its long-term potential – added Mirsada Kudrić, noting that they achieved positive growth in all business areas.

Group Bosch: Forecast for 2023 and Long-Term Strategic Direction

Last year, Bosch exceeded its business goals in what they describe as a challenging year. The technology and services supplier increased total sales to 88.2 billion euros, and the operating margin from operations rose from 4.0 to 4.3 percent.

– We responded well to the challenges of 2022, and both sales and margins were higher than expected – stated Dr. Stefan Hartung, Chairman of the Board of Directors of Robert Bosch GmbH.

Despite the consequences of the COVID-19 pandemic, Bosch managed to increase sales by 3.5 percent in the first quarter of 2023. Despite a modest economic forecast, the company’s goal is to increase sales by between 6 and 9 percent throughout 2023. The target operating margin from operations for 2023 is close to 5 percent. Even if the economic and social environment remains challenging, Bosch aims to grow significantly faster in the coming years.

– Our goal is to grow in every region of the world and to be among the top three suppliers in relevant markets – stated Hartung.

The fight against climate change is leading to significant upheavals in business and society and accelerating technological changes.

– This technological transformation creates growth opportunities that we want to seize. In this context, our slogan “Technology for Life” is ideal – not only regarding the main trends in electrification, automation, and digitalization but also more than ever concerning software and artificial intelligence – stated Hartung.

Bosch responds to the trend of growth in software-based automotive engineering by restructuring its automotive supply business: Robert Bosch GmbH will in the future manage Bosch’s mobility division, Bosch Mobility, as a business area whose responsibility will include its own operations and management. The goal is to meet existing and new customer needs with tailored solutions from a single source in a more efficient and faster manner. The CEO of Bosch announced that the restructured mobility business is expected to grow at an average annual rate of 6 percent by 2029, when it will achieve annual sales of over 80 billion euros.