Annual financial results 2020

Bosch, a leading global supplier of technology and services, registered £2.6 billion (just over €3.1 billion) in annual sales for 2020 in the United Kingdom. Adjusted for exchange rate effects, this represents a decrease of 11.5 percent compared to 2019.

Vonjy Rajakoba took over the position of Managing Director of Bosch UK in December 2020. He said: “The coronavirus pandemic had a substantial impact on our business, particularly in the second quarter of 2020. Considering the challenging circumstances, we have posted results that are better than expected. We also owe this to our broad portfolio.”

For the current business year Bosch posts an uncertain forecast: “Despite the common challenges that the country faces with Brexit, the pandemic and the effects of the semiconductor bottleneck, we believe that this year we will be able to achieve a performance that improves on 2020. Bosch remains committed to the UK market, continuing to shape our “Invented for Life” ethos and developing business opportunities.” The company expects the majority of sectors to show stronger results following the coronavirus pandemic.

Development of Bosch business sectors

While three of Bosch’s business sectors in the UK were affected by the pandemic, and registered decreases in sales, the company’s Consumer Goods Sector flourished during 2020, as the pandemic gave rise to an increased focus on consumer home improvements. That led to a higher demand for home and garden products, which collectively boosted the Consumer Goods business with a healthy single digit growth on the local market compared to the previous year.

In 2020, Worcester Bosch made a significant breakthrough when it concluded development on a hydrogen-ready boiler. While running on natural gas to begin with, once hydrogen becomes available through the domestic supply network the boiler can be switched over with ease to become hydrogen powered. This will significantly reduce household carbon emissions. Worcester Bosch has frequently been at the forefront of cutting edge research and development projects.

Bosch has a diverse network of operations throughout the UK, where it employs around 5000 people. One area that significantly expanded during 2020, was a Bosch subsidiary, ETAS Ltd, which is a global software engineering company with a centre of excellence in York. ETAS Ltd has doubled in size in the past five years and Bosch has committed to expanding the division, which works on automated driving technologies that help to reach the goal of accident-free driving.

As well as strengthening the automotive cluster in the region, the investment underlines Bosch’s commitment to providing highly skilled training and jobs in the UK.

Alongside this, Bosch’s Power Tools business division also expanded its 18V “Power for All” battery platform for not only Bosch “home and garden” divisions, but also for other manufacturers. Together with the company Gardena, Bosch has created the “Power for All” Alliance especially for use in and around the home: Power tools, garden tools and home appliances from Bosch, so that one battery for garden and home products can be used not only in Bosch 18V products, but also products from other manufacturers as well. This brings added convenience for customers and again underlines Bosch’s “Invented for Life” ethos. As well as being one of the lightest batteries on the market, this enhanced compatibility is better for the environment.

Despite the coronavirus pandemic Bosch has had a successful start to the first quarter of 2021. "Bosch came through the first year of the coronavirus pandemic well," said Dr. Volkmar Denner, the chairman of the board of management of Robert Bosch GmbH. However, the company expects another challenging year, primarily due to ongoing pandemic risks. To develop new business opportunities on the back of the profound technological and ecological changes currently occurring, Bosch is combining the internet of things (IoT) with artificial intelligence (AI) and is concentrating on electromobility. “We are one of the winners in the transition to electromobility, and we are significantly expanding our software business by tying in artificial intelligence,” said Denner.

Global efforts to combat climate change are boosting electrification and green hydrogen. Electrification offers Bosch new opportunities in several business areas, since it requires solutions not only for electric driving in cars, but also for electric heating in buildings. In powertrain technology, electromobility is establishing itself as Bosch’s core business. Fuel cells convert hydrogen into electricity, and Bosch is developing both stationary and mobile fuel-cell solutions. From 2021 to 2024, Bosch plans to invest one billion euros in fuel-cell technology.

Bosch is pressing ahead with its own climate action targets as planned, and has reached a major milestone with the climate-neutral status of its more than 400 locations worldwide in spring 2020. This has already been confirmed by independent testing. As a result, Bosch is the first global industrial company whose own locations no longer leave a carbon footprint – this also includes the sites in the UK. Bosch also aims to reduce CO₂ emissions along its entire value chain, from suppliers to customers, by 15 percent by 2030 from their 2018 level – a reduction of 67 million metric tons of carbon dioxide emissions.

Contact person for press enquiries:

James Bolton:

Phone: +44 1895 87-8049
Email: James.Bolton@uk.bosch.com
Twitter: @BoschUK

The Bosch Group is a leading global supplier of technology and services. It employs roughly 395,000 associates worldwide (as of December 31, 2020). The company generated sales of 71.5 billion euros in 2020. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. 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 facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. 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 440 subsidiary and regional companies in some 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. With its more than 400 locations worldwide, the Bosch Group has been carbon neutral since the first quarter of 2020. The basis for the company’s future growth is its innovative strength. At 129 locations across the globe, Bosch employs some 73,000 associates in research and development, of which nearly 34,000 are software engineers.

The company was set up in Stuttgart in 1886 by Robert Bosch (1861-1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the company to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-four percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The remaining shares are held by Robert Bosch GmbH and by a corporation owned by the Bosch family. The majority of voting rights are held by Robert Bosch Industrietreuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust.

Additional information is available online at www.bosch.co.uk, www.iot.bosch.com, www.bosch-press.com, http://www.twitter.com/BoschPress