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The Bosch Group had another good year in fiscal 2005. Today the Stuttgart, Germany-based manufacturing group reported improved sales and results for 2005 and a good start on 2006. "For the current year, we expect sales to increase by roughly five percent," said Franz Fehrenbach, CEO and chairman of the Bosch board of management at the company's Annual Press Conference in Stuttgart.
Bosch consolidated financial statements were presented for the first time on the basis of International Financial Reporting Standards (IFRS). According to IFRS, sales of the Bosch Group rose by 6.4 percent in 2005, to 41.5 billion euros (approx. $51.6 billion). The pre-tax result increased from 2.7 to 3.2 billion euros (from approx. $3.4 billion to approx. $4.0 billion), which Bosch says is equivalent to 7.7 percent of sales.
Sales showed an increase in all the company's business sectors. Consumer Goods and Building Technology, which includes the group's appliance and heating businesses, showed an increase of 6.1 percent to approx. 10 billion euros (approx. $12.4 billion).
R&D and International Expansion Investments Remain High
"To further strengthen the company's international presence and innovative strength, upfront investments in research and development as well as in capital expenditure will remain on the same high level as before," Fehrenbach said. "In 2005, research and development expenditure came to 3.1 billion euros (approx. U.S. $3.9 billion) (2004: 2.7 billion euros or approx. $3.4 million). Capital expenditure came to 2.9 billion euros (approx. $3.6 billion) (2004: 2.4 billion euros or approx. $3.0 million). The focus of international expansion is the Asia Pacific growth region. Between 2005 and 2008, some 1.6 billion euros (approx. $2.0 billion) are to be invested here, above all in China and India."
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