Annual financial results 2019: Bosch in North America sales of $14.4 billion on par with 2018
- From AI camera to Factory of the Future, new products continue to deliver ‘Invented for Life’ solutions to Bosch customers
- Celebrating 20 years of Bosch Research in North America, Bosch sent its first technology to the International Space Station
- Bosch remains committed to pursuing sales and investment opportunities in North America despite challenging outlook for 2020
FARMINGTON HILLS, Mich.–(BUSINESS WIRE)–#AI–Bosch, a leading global supplier of technology and services, ended its 2019 fiscal year with $14.4 billion (13 billion euros) in consolidated sales in North America, slightly below the previous year’s sales of $14.5 billion.
“North America performed well as a region within the Bosch Group in 2019,” said Mike Mansuetti, president of Bosch in North America. “Despite headwinds such as the reduction in automotive production, our 2019 results are a testament to our associates’ hard work and the value we continue to provide our customers.”
For the current business year, Bosch in North America projects a subdued forecast due to the worldwide coronavirus pandemic as well as the slowing of vehicle production that was evident even before the pandemic.
“The current situation presents a number of challenges globally as well as here in North America,” Mansuetti said. “Despite the difficult climate, we remain committed to pursuing sales and investment opportunities in the region that support our plan for long-term, strategic growth.”
Portfolio enhanced further with IoT- and AI-enabled technology
Three of Bosch’s business sectors – Industrial Technology, Consumer Goods, and Energy and Building Technology – were nearly even in sales compared to 2018. Mobility Solutions sales were down slightly from the previous year.
Mobility Solutions is Bosch’s largest business sector. With sales of $9.2 billion in 2019, the sector accounted for 64 percent of Bosch’s North American sales. Bosch continued to bring safety technology to the market in 2019. The company announced the MPC3 mono video camera and is bringing the solution to customers in the North American market. The camera makes use of artificial intelligence for robust object and lane recognition, enabling driver assistance systems to reach the next level of performance. Another safety system introduced was Trailer Safety Control. The Dexter Tow Assist™ ABS & Sway Mitigation System, developed together with Dexter Axle Company, helps drivers maintain control of trailers during braking and to reduce sway situations.
With fuel cell systems as a key component of its broad powertrain portfolio, Bosch worked together with Nikola Motor Company to completely reimagine the commercial vehicle powertrain – and the vehicle chassis integrated together with it – from the ground up.
Consumer Goods, at $2.6 billion in sales, comprised 18 percent of sales in North America. Bosch Home Appliances will be welcoming Apple Watch® and Wear OS by Google™ smartwatches into its dynamic digital ecosystem, Home Connect™. The Power Tools division’s Dremel® brand has had strong success with its first-ever cleaning product, the Dremel Versa. Dremel is now building on that success by launching four new Versa accessories in 2020.
Industrial Technology’s $1.5 billion in sales equates to 11 percent of Bosch’s North American sales in 2019. The company debuted a new Factory of the Future experience featuring intelligent Industry 4.0 technologies that connect everything, from individual machine components and workstations with embedded sensors, up through machine-level and plant-level communications architectures to a cloud-based solution.
Energy and Building Technology’s sales, at $914 million, reflect 6 percent of the total sales for Bosch in North America. After adding machine learning technology to Bosch cameras with Camera Trainer in 2019, the Building Technologies division has introduced the INTEOX open camera platform, which combines built-in Intelligent Video Analytics with high performance, a commonly used open OS, and the ability to add software apps securely.
A milestone in space and on Earth for Research & Development
In November 2019 Bosch sent its first deployment of technology to the International Space Station (ISS). Bosch’s SoundSee module uses microphones and machine learning to analyze audio data from ISS systems and equipment. Floating through the ISS on NASA’s Astrobee autonomous robot, SoundSee uses AI-driven analytics to gauge system performance and predict maintenance needs, lightening the load of astronauts on board.
In 2019 Bosch celebrated 20 years of Bosch Research in North America. For the last two decades, Bosch Research has been shaping the technology of the future, playing a key role in the development of technologies such as artificial intelligence, cybersecurity, human-machine interaction, automated driving systems, robotics, advanced circuits and sensors. Bosch Research in North America encompasses three sites (Sunnyvale, California; Cambridge, Massachusetts; and Pittsburgh, Pennsylvania) with a total of more than 100 researchers.
Commitment to communities
In 2019 Bosch invested more than $7 million (6.3 million euros) in communities through funding and volunteering.
The Bosch Community Fund has awarded nearly $30 million (27.2 million euros) in grants to educational institutions and nonprofit organizations since 2012. The U.S.-based foundation focuses on the enrichment of science, technology, engineering and math (STEM) education and environmental sustainability. Building on an eight-year program, the Bosch Community Fund now awards grants in 45 communities where Bosch is located.
In 2019 more than 1,100 Bosch associates volunteered 24,000 hours [$610,000 (553,200 euros) in value] in service to 210 nonprofits. For example, Bosch associates throughout the U.S. volunteer with STEM programs in their communities. During the 2019-2020 FIRST® (For Inspiration and Recognition of Science and Technology) season so far, 187 Bosch associates have volunteered more than 25,000 hours, mentoring more than 3,000 students on 130 teams.
COVID-19 impact and recovery
With the coronavirus pandemic, Bosch in North America anticipates considerable challenges for its business in the current year. The company is working together with customers to support a phased approach for post-COVID-19 business ramp up and safely re-starting operations is well underway. With the health and well-being of associates as its top priority, Bosch in North America is committed to being a reliable supplier of products to help the economy recover as quickly as possible.
Bosch has also found ways to contribute broadly to recovery efforts. The company is producing facemasks and hand sanitizer both in North America and in other regions. The Anderson (South Carolina) plant was able to start producing hand sanitizer for internal use in just three days from idea to execution. It is also one of 13 Bosch plants globally producing facemasks for internal use, as is the Juarez, Mexico, plant. Producing these items for internal use reduces the burden on the supply chain.
Bosch Group: Outlook for 2020 and long-term strategic course
In view of the coronavirus pandemic, Bosch anticipates considerable challenges for the global economy in the current business year. To achieve at least a balanced result, will take a supreme effort, the board of management of the Bosch Group announced during the recent Annual Press Conference in Germany. Despite the challenges of the current situation, Bosch is maintaining its long-term strategic course: the supplier of technology and services is continuing with its systematic pursuit of ambitious climate goals and is developing the activities required to support an expansion of sustainable mobility.
About Bosch
Having established a regional presence in 1906 in North America, the Bosch Group employs 34,600 associates in more than 100 locations, as of December 31, 2019. In 2019 Bosch generated consolidated sales of $14.4 billion in the U.S., Canada and Mexico. For more information, visit www.bosch.us, www.bosch.ca and www.bosch.mx.
The Bosch Group is a leading global supplier of technology and services. It employs roughly 400,000 associates worldwide (as of December 31, 2019). The company generated sales of 77.7 billion euros in 2019. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT provider, Bosch offers innovative solutions for smart homes, Industry 4.0, and connected mobility. Bosch is pursuing a vision of mobility that is sustainable, safe, and exciting. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to facilitate connected living with products and solutions that either contain artificial intelligence (AI) or have been developed or manufactured with its help. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiary and regional companies in 60 countries. Including sales and service partners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future growth is its innovative strength. Bosch employs some 72,600 associates in research and development at 126 locations across the globe, as well as roughly 30,000 software engineers.
Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-press.com, www.twitter.com/BoschPress.
Exchange rate: 1 EUR = 1.1027
Contacts
Alissa Cleland – North American region
Phone: +1 248-876-1587
Alissa.Cleland@us.bosch.com
Twitter: @alissacle
Matt Haran – Financial and human resources
Phone: +1 248-876-2594
Matt.Haran@us.bosch.com
@BoschUSA
Tim Wieland – Technology and product
Phone: +1 248-876-0288
Tim.Wieland@us.bosch.com
Twitter: @timwieland