Bosch, the leading German engineering and technology company, held its annual press conference on Thursday, highlighting the importance of innovation and profitability for continued growth. Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, stated that despite the challenging economic and social environment, the company exceeded its sales and margin expectations in 2022, and aims to grow significantly faster in the years ahead.
Hartung set a target of achieving an average annual sales growth of 6 to 8 percent and a margin of at least 7 percent, taking into account normal rates of inflation. He emphasized the crucial role of innovation and profitability in the company’s further development, including the mobilization of staff creativity, investment in engineering centers, factories, and infrastructure worldwide, and the balancing of economic performance with environmental and social goals.
The chairman also highlighted the importance of growing together with the Asian market, given its high dynamic for development. In China, Chen Yudong, the president of Bosch (China) Investment Ltd., briefed reporters that the Chinese market offers great potential and opportunities in sectors such as intelligent and electrified mobility, smart manufacturing, and sustainable development. Bosch’s long-term development strategy in China prioritizes enhancing local production, research and development capabilities, and customer needs.