Friday 19 August 2022

Volker Bischoff

Bosch ME revenues up 11pc to $419m

DUBAI, June 6, 2018

Bosch, a leading global technology company, has posted revenues of Dh 2.057 billion ($419 million) for the fiscal year 2017 across 14 countries in the Middle East, marking an increase of 11 per cent compared to the previous year.

The number of associates employed at Robert Bosch Middle East in 2017 stood at some150.

“We are very pleased with our achievements in the Middle East,” said Volker Bischoff, vice president and general manager, Robert Bosch Middle East. “2017 marked an exciting year for us with various expansion initiatives.”

“This year, we expect Bosch‘s business in the Middle East to grow in the single digit range. In spite of a more subdued GDP growth in the region, the GCC (Gulf Cooperation Council) continues to provide business opportunities for our products and services – especially in the building and construction sectors – and maintains efforts in diversifying local economies further.”

With its concerted focus on economic diversification, countries such as the UAE and Saudi Arabia are stepping up investments in infrastructure and new projects. The region is emerging as a hub for innovation and smart technologies, driven greatly by governments aiming to provide the best standards of living, and a population that has increasingly become digitally savvy.

“Our connected innovations for future mobility and smart buildings, as well as our Industry 4.0 solutions and innovative consumer goods ensure that we are well-placed to support the long-term vision and aspirations of regional governments, organizations and consumers alike,” said Bischoff.

Bosch is aiming for further growth in 2018, despite the difficult economic climate. After achieving record results in 2017, and in light of economic and geopolitical risks, the Bosch Group expects its sales revenue to grow by 2 to 3 per cent in 2018.

In the first three months, the sales revenue generated by the company matched the high level of the same period of the previous year, and even increased by around 5 per cent when adjusted for exchange-rate effects.

“Our company is unequalled when it comes to combining comprehensive connectivity expertise with broad industry and product know-how. This is the Bosch Group’s unique selling proposition,” said Bosch CEO Dr Volkmar Denner, speaking at the annual press conference in Renningen.

Denner sees improving the quality of life and contributing to eco- and climate-friendliness at the top of Bosch’s agenda: “Our ‘Invented for life’ ethos is our motivation for developing the best possible technologies for environmental protection. We want to help keep people mobile, while improving air quality.”

To make even lower emissions traffic reality, the company is making heavy investments – both in making electro mobility a market success and in enhancing the combustion engine. Bosch has now achieved a breakthrough in diesel technology: with their new diesel technology, Bosch engineers have succeeded in getting NOx emissions massively down.

 On average, test vehicles equipped with the enhanced technology already emit no more than 13 milligrams of NOx per kilometre. “There’s a future for diesel. It will remain integral to tomorrow’s mobility solutions,” the Bosch CEO said. – TradeArabia News Service

Tags: Middle East | Revenue | Bosch |

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