Bosch has posted Mobility Solutions sales up 7.8% to EUR47.4bn (US$59bn), while overall sales rose 6.7% to EUR78bn.
Adjusted for exchange-rate effects, the overall figure represents an increase of 8.3%, although sales were negatively impacted by exchange-rate effects of EUR1.2bn.
Sales in Mobility Solutions rose 7.8% – three times faster than global automotive production – to EUR47.4bn. Adjusted for exchange-rate effects, growth was 9.2%.
The supplier notes that increase was driven primarily by strong demand for diesel injection systems, especially from the commercial-vehicle sector, for gasoline injection systems, as well as for driver assistance and infotainment.
“We exceeded our growth forecasts and further improved our profitability,” said Bosch chairman, Volkmar Denner. “In 2017, our sales were higher than ever.
“We recognised the potential of connectivity early on and are now converting it into business success.”
Earnings from operations before interest and taxes (EBIT) rose to EUR5.3bn last year, equating to an EBIT margin from operations of 6.8%.
“Bosch’s success in its core business finances its efforts to become a leading supplier of IoT technology and mobility solutions,” added Bosch CFO and deputy chairman, Stefan Asenkerschbaumer.