Bosch Hungary posts 15% revenue increase in 2014

Deals

The Hungarian units of German engineering and electronics company Bosch saw a revenue of HUF 825 bln in 2014, increasing by 15% as compared to the previous year, including sales among units partly and entirely owned by the group, financial director Krisztina Torma said today.

The financial director added that sales realized on the Hungarian market grew by 14%, reaching HUF 183 bln.

Following the takeover of 50%-owned joint ventures BSH Hausgeräte GmbH and Robert Bosch Automotive Steering GmbH, the group currently employs 10,500 workers in Hungary and plans to hire another 700 university or college graduates this year.

According to Torma, the Hungarian units constitute a key part of the company’s global R&D network. Bosch spent HUF 24 bln on research and development in 2014, 26% more than in the previous year, and doubled R&D spending in the past five years.

Sales revenue rose about 13% in the first quarter of 2015, including the BSH and Automotive Steering units; with all segments of the group showing growth, representative of the Bosch Group in Hungary Javier Gonzalez Pareja said. Pareja added that the Hungarian units project 5-10% revenue increase in 2015. Bosch now employs almost 1,500 engineers in R&D activities in Hungary.

Javier González Pareja, CEO of Bosch Magyarország, was recognized as the most important foreign CEO in Hungary at a gala held on February 3 to present the first annual BBJ/HIPA Expat CEO Awards. 

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