2013 Annualfinancial results
Bosch achieves strong growth inThailand
Continued expansion of product and service portfolio
Total sales of 10 billion baht in fiscal 2013
Expansion of manufacturing, product offerings, services, and markets
Focused diversification and local talent development are key drivers for sustainable growth
|*Note: Due to a change in accounting policies, the 2013 figures can only be compared to a limited extent with the previously published figures for 2012. In Southeast Asia, the decision to forego the application of proportionate consolidation affects mainly BSH Bosch und Siemens Hausgeräte GmbH and ZF Lenksysteme GmbH.|
Bangkok– With a sales growth on the domestic market of more than 16 percent to some 10 billion baht (247 million euros) in fiscal 2013, Thailand continues to be among the top revenue contributors in Southeast Asia for Bosch,aleadingglobal supplieroftechnology andservices. Over the course of the year, the company also grew its Thai workforce by almost 15 percent to some 620 associates. “Thailand remains a strategically important country for Bosch and we will continue to develop our business and extend our footprint”, said Joseph Hong, managing director of Bosch in Thailand.
Against the backdrop of increasing infrastructure investments, the continuously rising consumption power and Thailand’s lasting position as the automotive hub of South East Asia, Bosch maintains a positive outlook also for 2014, expecting healthy growth.
Business expansion across Thailand
In 2013, The Automotive Technology business sector remained the largest contributor of sales for Bosch in Thailand. Within the year, the company completed the construction of a new plant in Amata City in Rayong Province, and started operations for the production of gasoline system-related products. The manufacturing facility for chassis systems products is being extended for commencement of local production of Antilock Braking Systems and the Electronic Stability Program in late 2014. The Automotive Aftermarket business division expanded its service network into the north, northeast, and south of Thailand, and continued to drive growth in its brakes, filters and spark plug product lines. Currently, the Bosch car service network is represented by 25 outlets across the country.
Also the non-automotive business divisions of Bosch are developing well and further expanding their portfolio in Thailand. The Drive and Control Technology division progressed at a steady pace due to several commercial projects, partly resulting from the high demand in reliable electricity infrastructure. The supplier of components and systems for industrial applications and factory automation, mobile applications and renewable energies will also continue to further expand its after-sales support. Similarly, the Packaging Technology division will raise its after-sales service capability for packaging solutions to the food and confectionary industry out of its regional operations based in Chonburi.
The Power Tools division maintained strong double-digit growth, backed by five consecutive years of steady business expansion. A major contributor to this growth was the introduction of the Dremel range of precision power tools for craft projects. By the end of 2014, the division will have launched over 50 new products across its various brands to cater to increasing market requirements for robust and reliable power tools.
The Security Systems division launched its Advantage Line range of surveillance and video solutions to reinforce its position in the mid-price segment. The Thermotechnology division bolstered its position in the local food and beverage, chemical, and pharmaceutical industriesthrough the introduction of advanced, energy-efficient solid-fired and biomass-fired boiler applications. Bosch also further intensified the diversification of its product and service portfolio in 2014 by introducing its subsidiary Bosch Power Tec in Thailand. The company develops and sells electronic power components for the use of renewable energies.
Local talent development for sustainable success
Launched in June 2013, the Bosch Mechatronics Apprenticeship Program (BMAP) has reached the midway point of its inaugural two-year apprenticeship program. The program has seen its pioneer batch of three apprentices apply theoretical knowledge into commercial situations at the Bosch Packaging Technology manufacturing plant in Chonburi.
Moving into their second year, the apprentices will expand their skill sets and deepen their organizational knowledge through job rotation opportunities across various functions, for example in logistics and warehouse management or in quality control in the Packaging Technology plant in Thailand.
“All around the world, the Bosch apprenticeship program has been a proven success for over a century to groom talent. We are confident that our program in Thailand will raise the bar for industry standards, and the skills of our local talent,” said Hong. “Bosch remains committed to growing its operations in Thailand, and developing a local pool of highly-skilled mechatronics talent to support its high-tech manufacturing operations.”
Promoting cultural exchange
In 2014, Bosch will be promoting an exchange of cultures as a co-sponsor to the Stuttgart Ballet’s tour in Bangkok. The troupe has been one of the world’s most renowned companies in international dance for more than 50 years and will be performing from October 25 to 26, 2014, as part of Bangkok’s 16th International Festival of Dance and Music.
Southeast Asia remains important growth region for Bosch
In Southeast Asia, Bosch closed its 2013 fiscal year at 629 million euros in consolidated sales on domestic market, remaining at a similar level from the year before. The total net sales of 1.4 billion euros, which includes deliveries to other Bosch companies, amounted to a year-on-year increase of almost 10 percent. Over the past several years, the company entered the emerging countries of Cambodia, Laos and Myanmar, and expanded its presence in Indonesia, Thailand and the Philippines. Southeast Asia continues to be one of the focus markets for Bosch.
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. Moreover, Bosch is global market leader in the area of micromechanical sensors (MEMS), a key technology when it comes to networking things on the internet. Sensors enable a new form of technical assistance in day-to-day life – in automated driving, for example, or the smart home. Bosch’s strategic objective is to create solutions for connected mobility, connected manufacturing, connected energy systems, and connected buildings.
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About Bosch in Thailand
Bosch is represented in Thailand by four entities, with some 620 associates generating sales of 10 billion baht (247 million euros) in fiscal 2013. Bosch automotive spare parts, power tools, security systems, thermotechnology, drive and control technology and packaging technology are distributed in Thailand by Robert Bosch Limited. Automotive components are manufactured in the Amata City Industrial Estate in Rayong, while production of packaging machinery and service of hydraulic equipment and machinery are in the Amata Nakorn Industrial Estate in Chonburi. Additional information can be accessed at www.bosch.co.th and https://www.facebook.com/BoschThailand.
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 the2012 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 Bose h GmbH and its roughly 360 subsidiaries and regional companies in so me 50 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, andsales network is the foundation for further growth. In 2013, the Bosch Group invested some4.5 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.comand http://twitter.com/BoschPresse