Economic news

Bosch aims to stay profitable in 2022 despite uncertainties

2022.05.04 15:41

Bosch aims to stay profitable in 2022 despite uncertainties
A Bosch company sign is seen at the Appliance and Electronics World Expo (AWE) in Shanghai, China March 23, 2021. REUTERS/Aly Song

BERLIN (Reuters) -German automotive supplier Bosch is aiming to be profitable this year but said that a definitive forecast is not possible due to economic and political uncertainties.

As a result, the company will need to pass on price increases to its customers, citing already-high energy and raw materials costs that have only been exacerbated by the effects of the war in Ukraine.

“The burden on our result is growing considerably due to steep increases in the cost of energy, raw materials and logistics,” Bosch’s finance chief Markus Forschner said.

The cost pressure is particularly high in Bosch’s core Mobility Solutions division, with steel prices three times higher than in 2020 and unlikely to change soon.

While Bosch increased sales in its core Mobility Solution business by 7.6% last year, to 45.3 billion euros, it generated an operating return of only 0.7%, after posting a loss the previous year.

“It’s not just automakers that have to pass on price increases, but especially suppliers such as us as well.”

The head of the Mobility Solutions division, Markus Heyn, said talks on price increases have been going on for a long time and that he was confident Bosch could reach agreement with the customer side.

Thanks to price increases and favourable exchange rates, the Bosch Group expects sales growth of more than 6% for the current year, after sales of almost 79 billion euros ($83.14 billion) in 2021, and a return on sales for 2022 of 3-4%.

($1 = 0.9502 euros)

Source

Related Articles

Leave a Reply

Back to top button
bitcoin
Bitcoin (BTC) $ 70,886.99 4.26%
ethereum
Ethereum (ETH) $ 2,467.28 2.68%
tether
Tether (USDT) $ 0.999191 0.01%
bnb
BNB (BNB) $ 572.35 3.41%
solana
Solana (SOL) $ 170.63 7.51%
usd-coin
USDC (USDC) $ 1.00 0.25%
xrp
XRP (XRP) $ 0.519124 3.08%
dogecoin
Dogecoin (DOGE) $ 0.178727 9.93%
staked-ether
Lido Staked Ether (STETH) $ 2,461.06 2.32%
tron
TRON (TRX) $ 0.161303 0.98%
cardano
Cardano (ADA) $ 0.338294 3.26%
the-open-network
Toncoin (TON) $ 4.73 0.56%
shiba-inu
Shiba Inu (SHIB) $ 0.000018 7.51%
wrapped-steth
Wrapped stETH (WSTETH) $ 2,903.93 2.08%
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 70,592.91 4.16%
avalanche-2
Avalanche (AVAX) $ 24.51 7.51%
weth
WETH (WETH) $ 2,464.20 2.50%
bitcoin-cash
Bitcoin Cash (BCH) $ 348.38 5.56%
chainlink
Chainlink (LINK) $ 10.99 6.87%
sui
Sui (SUI) $ 2.08 12.14%
polkadot
Polkadot (DOT) $ 3.92 4.31%
leo-token
LEO Token (LEO) $ 6.03 0.41%
usds
USDS (USDS) $ 0.992204 0.78%
litecoin
Litecoin (LTC) $ 66.55 1.09%
near
NEAR Protocol (NEAR) $ 3.90 6.87%
aptos
Aptos (APT) $ 8.67 6.93%
wrapped-eeth
Wrapped eETH (WEETH) $ 2,591.79 2.51%
uniswap
Uniswap (UNI) $ 7.41 8.49%
pepe
Pepe (PEPE) $ 0.000009 11.15%
internet-computer
Internet Computer (ICP) $ 7.50 6.44%
bittensor
Bittensor (TAO) $ 475.10 12.57%
dai
Dai (DAI) $ 1.01 0.58%
fetch-ai
Artificial Superintelligence Alliance (FET) $ 1.27 12.48%
monero
Monero (XMR) $ 158.22 0.83%
kaspa
Kaspa (KAS) $ 0.113309 8.35%
stellar
Stellar (XLM) $ 0.094348 3.60%
ethena-usde
Ethena USDe (USDE) $ 1.00 0.25%
whitebit
WhiteBIT Coin (WBT) $ 19.08 1.09%
ethereum-classic
Ethereum Classic (ETC) $ 18.47 4.92%
first-digital-usd
First Digital USD (FDUSD) $ 1.02 1.55%
polygon-ecosystem-token
POL (ex-MATIC) (POL) $ 0.30763 4.74%
blockstack
Stacks (STX) $ 1.56 6.37%
okb
OKB (OKB) $ 38.18 2.42%
dogwifcoin
dogwifhat (WIF) $ 2.19 12.11%
aave
Aave (AAVE) $ 139.31 8.12%
filecoin
Filecoin (FIL) $ 3.45 4.78%
arbitrum
Arbitrum (ARB) $ 0.499137 5.02%
crypto-com-chain
Cronos (CRO) $ 0.072721 2.72%
mantle
Mantle (MNT) $ 0.569984 3.25%
immutable-x
Immutable (IMX) $ 1.10 3.48%