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© yuriy-chaban-dreamstime.com Electronics Production | May 27, 2014

BSH consolidated revenue for climbs to EUR 10.5 billion

BSH Bosch und Siemens Hausgeräte GmbH increased its revenue by 7.2 percent to around EUR 10.5 billion over the course of the year ended, exceeding the previous year's figure in every sales region.
EBIT amounted to EUR 509 million despite the costs associated with a voluntary safety action for dishwashers. The number of people employed by BSH increased by just under 3'000 to around 50'000.

The key regions for growth in the year ended were China and North America. Revenue in China grew by 25 percent to over EUR 1.5 billion. Innovative home appliances tailored to the specific requirements of the region's consumers enabled BSH to capture a disproportionately large slice of the general growth in the Chinese home appliance market and expand its market share. Revenue in the U.S. grew by 18 percent thanks to BSH's successful strategic realignment, which involved measures such as focusing sales activities more closely on premium products.

BSH made gains in Eastern Europe too, most notably in Russia (+5 percent) and Poland (+32 percent). Revenue rose markedly in Turkey in local currency terms, but this gain was eroded by the fall in the value of the Turkish lira. BSH bucked the market trend in Western Europe to boost both revenue and market share. Growth was strongest in the United Kingdom (+11 percent) and Spain (+11 percent), with business in France (+4 percent) also very positive. Revenue in Germany was unchanged from the previous year.

BSH expects moderate revenue growth in 2014 and a significant improvement in EBIT despite the further investment planned. The opening months of the year have confirmed this expectation.

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