SINGAPORE, May 13, 2015 /PRNewswire/ --
In fiscal 2014, Bosch, a leading global supplier of technology and services, achieved a year-on-year sales growth of around seven percent in Southeast Asia by generating SGD 1.06 billion (672 million euros).1 In Singapore, the company closed the fiscal year at SGD 260 million (154 million euros) in sales revenue, posting a double-digit growth of around 12 percent compared to the previous year.
"In Southeast Asia we attained double-digit growth in most parts of the region, with high potential markets such as Indonesia and the Philippines performing exceptionally well," said Martin Hayes, president of Bosch in Southeast Asia, where Bosch is currently present in ten countries. "Southeast Asia remains one of the fastest growing regions for Bosch. We see an increasing demand for technology from the rising middle-class, as well as from industrial, commercial, and infrastructure projects."
As of April 2015, Bosch had increased its workforce in Southeast Asia to around 6,600 associates. This figure includes associates from the company's complete acquisitions of BSH Bosch und Siemens Hausgeräte GmbH (now BSH Hausgeräte GmbH), and ZF Lenksysteme GmbH (now Robert Bosch Automotive Steering GmbH), that were previously joint ventures. Excluding these acquisitions, the workforce grew to around 5,400 associates, including newly-consolidated entities. Manpower in Singapore increased slightly over the course of 2014.
Positive development across all business sectors
The Mobility Solutions business sector, formerly known as Automotive Technology, continues to be the largest contributor to Bosch's total revenue in Southeast Asia. It achieved regional sales at a similar level to the year before, while securing double-digit growth in Singapore. The acquisition of Robert Bosch Automotive Steering GmbH added a plant in Penang, Malaysia, to Bosch's manufacturing portfolio in the region. Furthermore, Bosch's first plant in Indonesia commenced production of automotive components in mid-2014.
Consumer Goods was the fastest growing business sector in the region. This development was mostly due to the successes of Bosch's cordless range of power tools as well as laser rangefinders, in addition to the penetration into online sales channels and widening of offline distribution networks. The sales of BSH Hausgeräte GmbH were not yet included.
Energy and Building Technology sales achieved moderate growth in Southeast Asia, but increased exceptionally in Singapore, largely attributed to new security solutions installed within commercial buildings over the course of 2014. Growing demand for industrial automation and positive developments within the marine and offshore industry contributed to the strong progress of the Industrial Technology business sector in the region and similarly in Singapore.
Strengthening industrial collaboration in Singapore
Many opportunities for pioneering technological advancements exist within Singapore. "Out of Singapore, we continue developing future-oriented technologies and solutions for the local and global market," said Hayes. The legislative framework favours protection of intellectual property, while the mature technological ecosystem is teeming with global leaders and research institutions involved in cutting-edge innovations. These factors contribute to the attractiveness of collaboration within the industry.
"Bosch has strong technological expertise in fields such as mobility solutions and renewable energies, as well as sensors and software that connect things and devices. Through the collaboration with experts from other domains within the industry, we actively shape the industry by jointly developing innovative, ground-breaking technologies," added Hayes. Several ongoing and successful collaborations illustrate this.
In September 2014, for example, the Singapore Economic Development Board (EDB) launched the Pre-Project Innovation Consortium (PPIC) -- the first-of-its-kind in the building industry worldwide. The platform will enable Singapore to lead the adoption of cutting-edge technologies for green buildings that are customised for a tropical climate. Bosch is offering its Building Integrated Photovoltaic (BIPV) solutions to harness renewable solar energy from building facades, which is particularly suited for Singapore's urban, high-rise landscape with small roof surface areas.
More recently in February 2015, Bosch committed to collaborate with information and communications technology service provider NCS's Solutions for Urbanised Future (SURF@NCS) initiative, as part of a larger ecosystem of global technology players, local start-ups, and research institutes to co-develop smart city solutions. Bosch will contribute its domain knowledge and expertise in developing solutions for the Internet of Things through its Bosch IoT Suite 2.0 that will enable Singapore to be a world-leading smart, connected nation.
As a global supplier of mobility solutions and the worldwide market leader of Micro-Electro-Mechanical-Systems (MEMS) sensors, Bosch participated in two research consortiums over the course of the past six years with A*STAR, the lead scientific research agency in Singapore. Bosch was a part of the second phase of the MEMS Consortium since 2012 that aimed to accelerate MEMS technologies in mobile devices. MEMS sensors are a key technology for the connected world. Today, there is a Bosch sensor in every second smart phone around the world. The company was also a member of the A*CAR consortium in 2008 that conducted pre-competitive research to drive technological advancement and innovation in the automotive sector.
Bosch Group business outlook for 2015
The Bosch Group expects global sales to grow within an exchange rate-adjusted range of 3 to 5 percent in 2015. Speaking at the company's recent annual press conference in Germany, the Bosch CEO Volkmar Denner said: "Our economic and technological strength in established business fields is enabling us to tap into new market segments." Web-enabled products and internet-based services are one of the focal points of the company's future business. "We are driving connectivity forward in all our business sectors and playing an active role in shaping it," Denner added. In 2014, Bosch launched many new products and connected solutions, including software solutions for smart heating systems and buildings as well as for connected industry and connected mobility. With the complete acquisitions of BSH Hausgeräte GmbH and Robert Bosch Automotive Steering GmbH, Bosch has strengthened its position in the fields of smart homes and automated driving.
In Asia Pacific, Bosch grew its sales 17 percent (19 percent after adjusting for exchange-rate effects) in 2014, to SGD 22 billion (13 billion euros). At just under 27 percent of total sales revenue, the region's share of sales reached a new high. Sales growth was especially strong in China, rising a nominal 27 percent to SGD 10.8 billion (6.4 billion euros).
Bosch in Southeast Asia and Singapore
Robert Bosch (South East Asia) Pte Ltd is a regional subsidiary of the Bosch Group, representing the Group's interests in Southeast Asia, where it is currently present in Singapore, Malaysia, Indonesia, Thailand, Philippines, Vietnam, Brunei, Cambodia, Laos and Myanmar. Business operations in the 10 ASEAN countries report to Robert Bosch (SEA) Pte Ltd, located in Singapore. In fiscal 2014, the company generated SGD 260 million in sales in Singapore.* As per April 1, 2015 the regional headquarters employed over 910 associates. Bosch has been in Singapore since 1923, active in Automotive Aftermarket, Power Tools, Security Systems, Drive and Control Technology, Packaging Technology, Thermotechnology, as well as Software and Systems Solutions. The Asia Pacific headquarters for the Bosch business divisions of Automotive Aftermarket, Security Systems and Bosch Software Innovations, as well as operations for Corporate Research and Advance Engineering, and Information Technology, are part of Robert Bosch (SEA) Pte Ltd.
Additional Information can be accessed at www.bosch.com.sg, www.facebook.com/BoschSingapore
Bosch worldwide
The Bosch Group is a leading global supplier of technology and services. It employs roughly 360,000 associates worldwide (as per April 1, 2015). The company generated sales of 49 bil-lion euros in 2014.* Its operations are divided into four business sectors: Mobility Solutions, In-dustrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in some 60 countries. Including its sales and service partners, Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the founda-tion for further growth. In 2014, Bosch applied for some 4,600 patents worldwide. The Bosch Group's strategic objective is to create solutions for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is "Invented for life."
Additional information is available online at www.bosch.com, www.bosch-press.com, http://twitter.com/BoschPresse
*The sales figures disclosed for 2014 do not include the former joint ventures BSH Bosch und Siemens Hausgeräte GmbH (now BSH Hausgeräte GmbH) and ZF Lenksysteme GmbH (now Robert Bosch Automotive Steering GmbH), which have since been taken over completely.
Contact person(s) for press inquiries:
Amos Choy
DID: +65-6571-2057
Email: amos.choy@sg.bosch.com
