Bosch Hungary revenues top HUF 1.3 tln in 2017

Telco

German engineering giant Boschʼs turnover in Hungary rose 13% to HUF 1.304 trillion last year, and it also targets double-digit revenue growth this year, the head of the local business said on Thursday.

Excluding business among the companyʼs units, revenues rose 2% to HUF 244 billion, said Daniel Korioth, head of the Bosch Group in Hungary, state news wire MTI reported.

Boschʼs R&D expenditures rose 17% to HUF 55 bln. Headcount increased by 1,000 to 13,500, making Bosch the biggest employer in the industrial sector. About 2,300 of its staff work in R&D.

Revenues increased in every segment in Hungary, with turnover up 37% in consumer goods, 25% in energy and construction technology, 16% in industrial technology, and 10% in the mobility solutions business, which accounts for 85% of total revenue.  

Capital expenditures came to HUF 58 bln.

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