The results obtained in 2021, with an increase in turnover and profit that exceeded forecasts, are supporting the commitment of the Bosch Bosch Group to achieve the objectives of the Green Deal set by the EU.
“Climate action – commented the chairman of the board Stefan Hartung on the occasion of the disclosure of the preliminary results for 2021 – is a growth engine and is driving our business forward”.
According to preliminary data, the turnover of the German innovation and services giant increased by 10% to 78.8 billion euros. Net of currency effects, growth was 11%. Ebit increased by more than half reaching 3.2 billion euros, equal to 4% of turnover compared to 2.8% of the previous year.
“In 2021 we achieved better than expected results – said Hartung – and we were able to exceed our forecasts despite many challenges, such as supply problems and raw material price increases”. Corporate success, the note reads, has also been significantly shaped by cohesion in times of social distancing. “I would like to thank the collaborators – underlined the president of Bosch – for their commitment and our customers, suppliers and business partners for their trust”. All Bosch business sectors are already implementing a wide range of measures to combat the global warming: with more than 400 locations worldwide, the Bosch Group has been carbon-neutral since the first quarter of 2020. Between now and 2030, the company plans to reduce carbon emissions along the supply chain – from purchase, use of the product – by 15%.
According to Hartung, electrification is making an increasing contribution to the business. “We are generating billions of euros in turnover – she said – with electromobility. We are also growing in double digits with heat pumps for the home and electric drives are breaking through industrial technology”. And he went on to say that “Bosch is translating climate action into growth, demonstrating how the transformation towards climate neutrality can be successful both ecologically and economically.”
Bosch also announced that it is engaged in another area of growth potential in electromobility. Since the end of 2021, the company has been producing silicon carbide (SiC) power semiconductors, which can increase the range of electric vehicles by up to 6%. According to market research firm Yole, the SiC market as a whole will grow an average of 30% annually, reaching over $ 2.5 billion over the next three years. Another area of great interest for the ‘green’ future is the mass production of stationary fuel cells (solid oxide fuel cell (Sofc). With this technology, Bosch is playing a role in the transition to renewable energy, while opening new business opportunities By 2024, the company expects to invest over 400 million euros in Sofc technology and another 600 million euros in mobile fuel cells.
In addition Bosch has also entered the sector of equipment for factories dedicated to the production of batteries, a business has considerable potential: according to the company, the global battery market is growing up to 25% per year. Together with Volkswagen, Bosch is trying to make the battery cell production processes ready for series production.
Referring to the collaboration with the Wolfsburg Group, Hartung said that “our common goal is to be a European supplier capable of achieving technological leadership for battery cell manufacturing processes”. Experts see the joint plans as an important step on the road to climate-neutral mobility and mass production of sustainable batteries.
But that’s not all: Bosch intends to grow and expand its position in vehicle software development. The Mobility Solutions business sector already supplies over 200 million electronic control units with its proprietary software worldwide each year. The company expects the auto software market to reach a volume of around € 200 billion by 2030.
“Bosch will see double-digit growth in this market – said Markus Heyn, new president of the Mobility Solutions sector and member of the Bosch board of management – Here we will benefit largely from the evolution of the car at a real point. network connection “.