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BSH Annual Revenue Tops EUR 10 Billion for First Time
Apr 24, 2014
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Munich-based appliance maker BSH Bosch und Siemens Hausgeräte GmbH reported preliminary 2013 full-year revenue of EUR 10.5 billion, up 7% from 2012.

BSH had double-digit growth in the United States and in China in 2013 and was able to extend its market position in Europe. BSH said 2013's record-setting revenue cements its position as the third-largest global appliance maker (after No. 1 Whirlpool Corp., based in the United States, and No. 2 Electrolux, based in Sweden).

EBIT (earnings before interest and taxes) were more than EUR 500 million—this despite the costs of a voluntary recall of some European dishwashers.

The company said its strategy will give high priority to digitalization and regionalization—factors it sees as crucial for future success.

BSH's strategic goal will be long-term profitable growth, and the company is planning to "invest substantially" in innovative products and to globally implement its multi-brand strategy.

BSH CEO Dr. Karsten Ottenberg called the EUR 10 billion year an important milestone, and that the company was poised for future growth internationally.

"We intend to extend our position on the global market and outpace the market with profitable growth," notes Ottenberg.

BSH reported that it kept R&D intensity high in 2013, at more than 3% of revenue, and the company's employee headcount rose to about 50,000.

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