Annual balance sheet 2021
Rising costs impact Bosch earnings in 2022
The Bosch technology group will probably have to cut back on profitability in the current financial year due to rising costs.
As the company announced at its annual press conference in Renningen on Wednesday, the company will not quite reach its profit target at the previous year's level.
"The burden on our earnings is growing considerably, primarily due to cost increases in energy, materials and logistics," said CFO Markus Forschner in a statement. Cost pressure is particularly high in the high-revenue supplier division. "Not only car manufacturers, but also suppliers are dependent on passing on price increases," said Forschner.
The Group also announced that it was entering the components business for hydrogen electrolysis. Bosch plans to invest around 500 million euros in this area by the end of the decade. The components for the production of hydrogen are set to go into series production in 2025.
According to the company, sales in the first quarter rose by 5.2% compared to the same period last year. For the current year, the company expects to exceed the forecast sales increase of six percent, said Forschner. However, a more precise estimate remains difficult in view of the considerable uncertainties.
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