Stuttgart and Renningen, Germany – The Bosch Group is forging ahead with its ambitious Strategy 2030 to strengthen its competitive position, despite global market challenges that curbed growth in 2024. The technology and services provider posted sales revenue of €90.3 billion, a 1.4% decline year-on-year, or 0.5% after adjusting for exchange rate effects. EBIT from operations stood at €3.1 billion, down from €4.8 billion in 2023, resulting in an EBIT margin of 3.5%.
Speaking at the company’s annual results presentation, Stefan Hartung, Chairman of the Board of Management of Robert Bosch GmbH, stated: “In the 2024 fiscal year, we achieved key improvements in cost, structure, and portfolio. We remain committed to our ambitious targets to continue growing and strengthening our financial independence. Strategy 2030 gives us the guidance we need—especially in turbulent times—to become one of the top three providers in our core markets within five years.”
Bosch’s corporate strategy also includes strong financial targets. Assuming an inflation rate of 2–3%, the company aims for average annual growth of 6–8% through to 2030. In Q1 2025, Bosch recorded a 4% year-on-year increase in sales, both nominal and currency-adjusted. The group continues to target an EBIT margin of 7% by 2026. Hartung acknowledged the challenge posed by global upheavals and intensifying competition from Asia, noting: “We will continue to optimise costs and structures while focusing on profitable business areas.”
Innovation boost: €250 million in startup investment
Bosch is leveraging its technological strengths to navigate the current transformation in markets and innovation. “As a global technology leader, we are fully committed to playing to our strengths—particularly our high level of innovation,” Hartung said. In 2024, the company registered over 6,700 patents and was named among the world’s top 100 most innovative companies by Clarivate.
As one of Europe’s leading corporate venture capital investors, Bosch has launched a new €250 million fund via its subsidiary, Bosch Ventures. “Investments in startups promote technological progress for both society and business, while also benefiting our internal divisions,” Hartung explained. “Innovation is a vital driver of national economic growth.”
Sustainability: new CO₂ targets despite economic turbulence
Amid shifting global political and economic dynamics, Bosch remains firm in its climate commitment. “The world order is changing, and free trade is under pressure,” said Hartung. “Nonetheless, climate action must remain a priority.” He urged that Germany’s new government direct financial stimulus toward structural reforms.
Bosch announced new Scope 3 emissions targets—focusing on emissions outside its direct control, such as those from product use—with the goal of reducing them by 30% by 2030, doubling its previous target of 15% from a 2018 baseline. “Climate change won’t disappear just because the global economy faces other challenges,” Hartung emphasised.
Business development in Thailand
Bosch Thailand maintained steady growth in 2024 despite economic headwinds. Total net sales reached €656.88 million, up 4.9% year-on-year, including non-consolidated and intra-group sales. Consolidated sales to third parties amounted to €457 million. As of 31 December 2024, Bosch Thailand employed over 1,600 associates, underscoring its strong contribution to the local economy.
“Our continued investments in Thailand reflect Bosch’s confidence in the country’s growth potential and our commitment to local innovation,” said Joseph Hong, Managing Director of Bosch in Thailand. “By aligning performance with sustainable practices, we are building a resilient foundation for long-term success.”
In 2024, the company expanded its Mobility sector operations with additional brake booster lines at the Amata plant and new injector and connector production lines at the Hemaraj plant. The Rayong R&D Centre continued to play a key global role.
In the Aftermarket segment, Bosch extended its distribution network and strengthened partnerships to broaden workshop access. The Consumer Goods division also gained momentum, with Bosch Home Appliances opening flagship stores in Central Rama 9, Central Westgate, and Italthai Tower. Bosch Power Tools launched a new service centre to enhance after-sales support.
In Industrial Technology, Bosch Rexroth Thailand established a Centre of Competence for electric drives and motors, aimed at serving customers across Southeast Asia and Oceania. Under Energy and Building Technology, Bosch signed an MoU with Thailand’s CP Group to explore sustainable boiler systems that reduce carbon emissions and improve energy efficiency.
Bosch Thailand also successfully completed the UNGCNT’s SDG Accelerator Programme, reinforcing its sustainability leadership. Initiatives in water conservation, waste reduction, and resource optimisation were complemented by community-focused CSR efforts. These included a charity run, flood relief donations to the Thai Red Cross Society, and continued collaboration with Primavera, a Bosch associate charity, supporting the Hand to Hand Foundation in Chonburi and the Skills for Life Foundation in Chiang Mai.