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Bosch Announces Annual Financial Results 2013 in Singapore

2014-06-05 10:43
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Steady growth for Bosch in Southeast Asia

Broad technological and industrial expertise will meet challenges of the connected world

SINGAPORE, June 5, 2014 /PRNewswire/ --

  • SGD 227 million in third-party sales in 2013 in Singapore
  • Extended footprint in Southeast Asia
  • New opportunities for emergent technologies in Singapore

Bosch, a leading global supplier of technology and services, closed its 2013 fiscal year at SGD 1.05 billion in consolidated sales in Southeast Asia's domestic market, remaining at a similar level to the year before. The total net sales of SGD 2.3 billion within Southeast Asia, including sales of non-consolidated companies and internal deliveries to affiliated companies, amounted to a year-on-year increase of almost 10 percent. In Singapore, Bosch closed with consolidated sales revenue on the local market moderating to SGD 227 million after significant growth in the past years and following a surge in investments from the offshore industry.

"Southeast Asia continues to be one of the focus markets for Bosch," said Martin Hayes, president of Bosch in Southeast Asia. "We anticipate an increased demand for our products and services with the rising consumption power across the ten countries in Southeast Asia we are active in. We will ramp up our production and service capabilities in the coming years in line with this development."

In 2013, Bosch saw an overall increase of around 10 percent in manpower in Southeast Asia to more than 4,500 employees, underlining a healthy expansion across all countries. Currently, Bosch has six manufacturing plants across the region in Thailand, Malaysia and Vietnam, delivering a multitude of product categories such as power tools; automotive components and multimedia; and industrial technology. These products embody Bosch's 'invented for life' imperative for both local and worldwide markets.

Strengthening footprint across Southeast Asia

"Bosch has spent the past several years extending its footprint in the region," said Hayes. "To broaden our reach, we have entered the emerging countries of Cambodia, Laos and Myanmar and expanded our presence in Indonesia, Thailand and the Philippines."

Since entering Myanmar last year, Bosch has already completed major projects for sporting venues, historical monuments and hotels. The Automotive Aftermarket division performed exceptionally well, largely attributed to the rapidly-increasing vehicle population in the country, especially in the urban cities of Yangon and Mandalay.

More than SGD 16.5 million has been invested into the first automotive manufacturing plant in Indonesia, which is slated to commence production in June 2014. The facility located in the greater Jakarta area will cater to mainly Japanese automotive manufacturers. In Vietnam, Bosch will invest more than SGD 266 million into its existing manufacturing plant of the Gasoline Systems division by 2016 to expand its production capacity of belts for continuously variable transmissions (CVT).

In Thailand, a Chiang Mai office expansion serves the northern region of the country, while the coverage of Indonesia increased exponentially with the opening of the Balikpapan, Semarang and Makassar branch offices. By opening business hubs in Davao and Cebu in 2013, Bosch now covers Luzon, Visayas and Mindanao, the three major regions of the Philippines.

Healthy development across business divisions to meet diverse demand

Overall, the business divisions of Bosch developed well and in line with the market situation across the region. The Security Systems division achieved healthy growth, with the largest contributions coming from Indonesia, Thailand and emerging countries like Cambodia, Laos and Myanmar. The Automotive Aftermarket division posted moderate growth, with the lion's share generated in Indonesia. Power Tools also grew steadily over the last year where a significant proportion stemmed from the region's booming construction industry. Thermotechnology stayed on course in the region, where boilers have been installed across diverse industries such as aerospace, hospitality as well as Food and Beverage.

Bosch Rexroth was able to achieve double-digit growth in Southeast Asia, fuelled by growing demand in the marine and offshore industry as well as solutions for factory automation. With the completion of several key projects, the growth of the Packaging Technology division's core business surged compared to last year.

Singapore is a showcase market for innovative Bosch technologies

Bosch views Singapore as a market in which suitable showcase and emergent technologies can be deployed for real-life use and adapted to meet local and regional requirements. With the recent completion of the first phase of the Electric Vehicle (EV) test-bed project in Singapore, Bosch will continue to focus strongly on developing next-generation infrastructure for the city-state. Internet-enabled products and internet-based services are one of the focal points of the company's future sales growth. The Internet of Things promises smarter living through seamless and autonomous machine to machine communications.

"Bosch is committed to deploying world class technology in Singapore, and we are looking forward to opportunities to partner with local authorities for a connected city. Our traditional strength in hardware expertise, our focus on cutting-edge research topics as well as our competence in software solutions complement Singapore's aspiration of becoming an authoritative voice in the Internet of Things and connected living," said Hayes. "We are upbeat about the willingness of the government of Singapore to embrace the industry to collaborate on the future of the country. In particular, the Infocomm Media Masterplan presents many potential scenarios that Bosch is in a competitive position to address."

Bosch Software Innovations, with Singapore as its Asia Pacific headquarters, has expertise in providing robust solutions for the integration of hardware and software systems, like the infrastructure of the nation-wide EV test-bed. A large proportion of the staff in Singapore is involved in R&D functions for the core software technologies that enable the Internet of Things.

Bosch is a global market leader in the area of micromechanical sensors (MEMS), a key technology for comprehensive solutions in the Internet of Things. These sensors are capable of measuring acceleration, air pressure, sound, temperature, and geomagnetic field. Working in conjunction with a software system, MEMS enable objects to connect to the internet so they can provide critical information on demand.

Based in the Southeast Asia headquarters in Singapore, Bosch's Corporate Research and Advance Engineering Centre drives innovative research and technology development. The research is conducted in emerging fields such as energy management and storage systems, power electronic modules, as well as sensors for air quality and medical diagnosis.

Bosch Group business outlook for 2014

Bosch expects sales to grow by between 3 and 5 percent in 2014 worldwide. Internet-enabled products and internet-based services are one of the focal points of the company's future business. With its hardware know-how and broad technological expertise, the supplier of technology and services is well prepared to move into this direction. "Bosch's traditional strengths -- our innovative strength, high standard of quality, global presence, and the integrative force of our corporate culture -- are also valuable in the connected world," said Dr. Volkmar Denner, the Bosch CEO, at the company's recent annual press conference in Germany.

In Asia Pacific, Bosch achieved a sales growth of 5.8 percent (13.8 percent after adjusting for exchange-rate effects) to roughly SGD 18.4 billion (11.1 billion euros). Especially in the Chinese growth market, demand for automotive and industrial technology picked up significantly over the course of the year.

Further information, press photos and video materials are available online at the Bosch Media Service: www.bosch-press.com

About 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 2013, the regional headquarters employs over 650 associates and generated SGD 227 million in sales. (NB: Due to a change in accounting policies, the 2013 figures can only be compared to a limited extent with the 2012 figures). 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.

About Bosch worldwide

The Bosch Group is a leading global supplier of technology and services. In 2013, its roughly 281,000 associates generated sales of 46.1 billion euros. (NB: Due to a change in accounting policies, the 2013 figures can only be compared to a limited extent with the 2012 figures). Its operations are divided into four business sectors: Automotive Technology, Industrial Technology, Consumer Goods, and Energy and Building Technology. The Bosch Group comprises Robert Bosch GmbH and its roughly 360 subsidiaries and regional companies in some 50 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for further growth. In 2013, the Bosch Group invested some 4.5 billion euros in research and development and applied for some 5,000 patents. This is an average of 20 patents per day. The Bosch Group's products and services are designed to fascinate, and to improve the quality of life by providing solutions which are both innovative and beneficial. In this way, the company offers technology worldwide that is "Invented for life".

Additional information is available online at www.bosch.com, www.bosch-press.com and http://twitter.com/BoschPresse

Source: Bosch

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