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Bosch heads back to black figures

April 22, 2010 | Christoph Hammerschmidt | 222900784
Automotive supplier Robert Bosch GmbH plans to return to profitability after in 2010 after the hefty 2009 dip. However, recovery takes place in Asia more than in Europe and North America.

Bosch CEO Franz Fehrenbach said there are „clear signs of recovery“ in all regions, with an especially powerful boost coming from the markets in China and India. In Q1/2010, the company booked sales 25 percent higher than in the same quarter last year. However, sales are still “significantly below their 2007 level”, Fehrenbach remarked. During the current fiscal year, the company intends to grow at least 10 percent to 42 billion euros.

In the first quarter 2009, sales for Bosch's automotive activities fell by more than 33 percent. The Diesel Systems division had been hit especially hard, with a substantial recovery still not really in sight: In Q1, sales of diesel-related products were down 18 percent against the previous year. Overall, the recovery in the entire automotive segment is carried by revitalized demand in Asia. According to Bosch, the latest developments in the European and North American markets are encouraging, but nonetheless the markets are unlikely to return to their 2007 record levels before 2012.

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