Bosch, a leading global supplier of technology and services, ended its 2014 fiscal year with AED 945 million (240 million euros) in consolidated sales across 15 countries in the Middle East.
The result represents a healthy seven percent year-on-year revenue increase for the region.
“The Middle East is an important market for Bosch. We aim to expand our presence in this region and seize the opportunities that the market offers,” Volker Bischoff, general manager and vice president, Robert Bosch Middle East FZE, said.
“Our outlook in the region remains positive for 2015 and the years to come. As governments work to diversify local economies through strategic investments especially in infrastructure and smart technology, we expect to see increased demand for our products and services ‘invented for life’,” he added.
The United Arab Emirates accounted for the highest sales in region, followed by the Kingdom of Saudi Arabia.
Positive business outlook with diverse product portfolio
Looking at the regional sales performance, the Power Tools business accounted for the largest percentage growth in 2014. The Automotive Aftermarket business remained a key growth driver and maintained its high performance. In 2014, the division increased its customer touch points with the addition of more than 50 Bosch Car Service workshops across the Middle East, and engaged new strategic partners in the region such as Bridgestone, one of the world’s largest tire and rubber company.
Bosch’s involvement in a number of highlight projects across the region has also contributed to the company’s positive development. For example, in 2014 Bosch Security Systems delivered an IP-based and networked public address and voice evacuation system to the Kuwait National Petroleum Company (KNPC) oil refineries. This supported KNPC in their move to improve employee safety on the refineries’ premises and to streamline operations.
Internet-enabled products and internet-based services are one of the focal points of the company’s future sales growth worldwide and in the Middle East. “We want to actively shape the development of the Middle East market, and seize the opportunities arising above all from connectivity and energy efficiency,” Bischoff said.
Bosch further expands its footprint in the Middle East
Since the opening of its headquarters in 2008 in Dubai, Bosch has continued to expand its presence in the Middle East. The company currently operates in 15 countries across the region with 220 associates. To further expand its presence in the region, Bosch plans to open a representative office in Pakistan, Lahore.
Bosch Home Appliances is set to enhance its regional footprint into Saudi Arabia through a strategic alliance with a leading Saudi-based distributor Abdul Latif Jameel Electronics (Home Appliances Division). The brand is also looking to sustain strong domestic demand in the segment by showcasing its state-of-the-art products designed for household chores.
Bosch Group business outlook for 2015
The Bosch Group expects global sales to grow within an exchange rate-adjusted range of 3 to 5 percent in 2015. Speaking at the company’s recent annual press conference in Germany, the Bosch CEO Volkmar Denner said, “Our economic and technological strength in established business fields is enabling us to tap into new market segments. We are driving connectivity forward in all our business sectors and playing an active role in shaping it.”
In 2014, Bosch launched many new products and connected solutions, including software solutions for smart heating systems and buildings, as well as for connected industry and connected mobility. With the complete acquisitions of BSH Hausgeräte GmbH and Robert Bosch Au¬tomotive Steering GmbH, Bosch has strengthened its position in the fields of smart homes and automated driving.