Germany’s Bosch reported strong sales growth across North America and the Asia-Pacific region in its full-year trading results for last year, published on Tuesday 24 May.
€70.6bn in sales
Founded in 1886
The machinery manufacturer chalked up an impressive 27% rise in sales to Asia – the strongest growth recorded by the company last year. It also reported sales growth in Latin America (+25%), despite continued currency devaluations in Brazil and Argentina.
Sales increased by 18% across the US, Canada and Mexico, a feat Bosch described as “remarkable” given the fact the machine manufacturing market was relatively stagnant last year, it said. In total, global sales increased by 10.2% to reach €1.3bn in 2015, rising from €1.18bn a year earlier.
“We are satisfied with our double-digit rise in sales, particularly given the modest growth of the sector as a whole,” said Friedbert Klefenz, president of Bosch Packaging Technology. “In 2015, we were again able to increase our market share.”
Bosch’s sales growth puts the company head and shoulders above its rivals in the German machinery manufacturing market. Data from the VDMA (German Engineering Federation) shows average nominal growth for German equipment companies of around 2.8%, in comparison to Bosch’s 10.2% surge.
Klefenz expected the modest start of 2016 and a high volume of orders outstanding from last year to lead to “moderate single-digit growth” during the current fiscal year. To ensure growth continues its upward trajectory, Bosch plans to expand its line of products in the near future.
Part of the company’s growth strategy, like most businesses, is through acquisitions and Bosch Packaging Technology completed three food sector takeovers in 2015: Osgood Industries in May, and two sister companies – Kliklok Woodman Corporation in the US and Kliklok International in the UK – in December. The three companies acquired last year have not been consolidated in Bosch’s balance sheet for 2015.
Bosch Packaging Technology is a manufacturer of packaging and processing technology. It is one arm of the Bosch Group – a global electronics and engineering corporation with operations in mobile phones, industrial technology, consumer goods, and energy.