Annual financial results 2022

Consolidated sales in 2022 surpassed IDR 2 trillion for the first time
Increasing export of vehicles from Indonesia drives demand for Bosch components
Growing demand for sustainable and long-lasting products, especially in Consumer Goods
Bosch aims to sustain double-digit growth with strategic cross-sector initiatives

Jakarta, Indonesia – Bosch, a leading global supplier of technology and services surpassed IDR 2 trillion in sales in 2022, recording the strongest consolidated sales to third parties to date. “The company’s 2022 sales results in Indonesia are the strongest since Bosch started operating as a group in 2008. Supported by favorable market conditions, Bosch successfully achieved growth across all business segments,” said Pirmin Riegger, managing director of Bosch in Indonesia, at the company’s annual press conference in Jakarta.

The positive business development in 2022 was driven by contributions from all of Bosch’s business divisions. The company’s Mobility Solutions business sector saw significant increases in its business, driven by the rising export volumes of automotive manufacturers in Indonesia. In addition to the Mobility Solutions sector, Bosch also gained market shares for its other three sectors: Industrial Technology, Consumer Goods as well as Energy and Buildings Technology.

At the core: “invented for life” for Indonesians

Bosch remains committed to developing products and services that are “Invented for life”. Throughout 2022, the company launched a range of product innovations that directly address users’ needs and simplify daily tasks – ultimately making the lives of Indonesians easier. One example is Bosch’s UniversalBrush, a compact battery-powered cleaning tool that revolutionizes cleaning tasks with its versatile brush heads and powerful rotation, transforming difficult cleaning tasks into effortless ones.

In the construction industry, Bosch professional drills and angle grinders with advanced sensor technology prioritize worker safety by preventing three potential dangers associated with power tool use – kickback, dropping, and overheating. Additionally, Bosch’s latest dishwashers optimize household routines, freeing up valuable time for other activities and enhancing overall quality of life.

“Invented for life” goes beyond product innovation. The company strives to empower the country’s next generations and make a positive impact on the lives of Indonesians. Initiatives such as “Bosch Surabaya Interior Design Competition 2023” not only foster new ideas in Indonesia but also directly involve young talents. The program engaged over 300 interior design and architecture students from eight renowned universities in East Java, who were challenged with proposing creative and innovative ideas on designing future retail spaces for Bosch in Surabaya.

Additionally, as part of the Bosch #CareForSight initiative, the company collaborated with SOS Children’s Village and Yayasan Tunas Bakti Nusantara to provide eye examinations, corrective glasses, and cataract surgeries for over 400 beneficiaries.

Sustainability at the heart of Bosch’s product innovations

Since 2020, the Bosch Group with its more than 400 locations worldwide has been climate neutral (scopes 1 and 2). An independent auditing company has officially confirmed this. The company now aims to improve the mix of measures and thus further reduce climate impact. At the same time, Bosch has expanded its activities in recent years to also reduce emissions produced outside its direct sphere of influence, for example at suppliers, in logistics, or when our products are used — known as scope 3.

At Bosch, sustainability is ingrained at the product development level. For example, built-in sensors integrated in Bosch dishwashers assess the dishes and load to determine the most suitable cycle, enabling users to conserve energy and water while achieving through cleaning. Furthermore, Bosch’s commitment to innovation extends beyond the consumer segment and into the industrial sector. As an example, a newly developed industrial electrical boiler actively supports customer’s transition from fossil to renewable energy sources.

Growth expected to continue in 2023

Based on encouraging developments in the first months of the year, Bosch Indonesia is optimistic in continuing its growth trajectory in 2023. The company continuously explores opportunities to expand its presence across the country and introduce new product innovations tailored to the evolving Indonesian market.

Bosch actively supports Indonesia’s transition towards Industry 4.0. In April, the company participated in Indonesian pavilion at Hannover Messe 2023, one of the world’s largest industrial technology fairs. At the event, Bosch showcased ctrlX AUTOMATION, an open automation platform that offers modular and scalable solutions. Additionally, Bosch highlighted its Nexeed MES (Manufacturing Execution System) technology, which enables real-time monitoring of manufacturing process data. These innovative solutions empower manufacturers in Indonesia to streamline their factory operations, reduce component requirements, and increase productivity. “Bosch is fully committed to supporting the local manufacturing sector's industrial transformation. We strive to drive innovation, implement advanced technologies, and build strategic partnerships. By providing comprehensive solutions, we empower manufacturers to navigate the changing landscape, seize growth opportunities, and thrive. Our dedication aligns with Indonesia's vision of a dynamic, sustainable, and prosperous industrial ecosystem,” Pirmin Riegger adds.

In addition to its industrial focus, the company is expected to launch new products that specifically cater to the increasing demand from residential consumers, particularly in the home and gardening product category.

The fight against climate change is driving accelerated technological change. In the Indonesian mobility sector, there is significant potential for growth in hybrid and electric vehicles (EVs). This technological shift presents growth opportunities for Bosch in various mobility domains, including electrification and digitalization, which are currently reshaping the region’s automotive industry

According to Riegger, “Bosch is the go-to partner for comprehensive system solutions in the automotive industry. The increasing demand for sustainable mobility motivates us to develop technologies that align with Indonesia’s vision of a clean, safe, and modern society”.

Bosch’s technologies, such as powertrain and electrification systems, future braking and assistance systems, as well as digital services for both two- and four-wheeler segments, will contribute to Indonesia’s realization of its vision.

Bosch Group: outlook for 2023 and strategic course

In 2022, Bosch exceeded its business targets in what was a challenging year. The supplier of technology and services increased its total sales to 88.2 billion euros, the EBIT margin from operations rose from 4.0 to 4.3 percent. “We rose well to the challenges of 2022 – both our sales and our margin were higher than expected,” said Dr. Stefan Hartung, the chairman of the board of management of Robert Bosch GmbH. Despite the after-effects of the Covid-19 pandemic, Bosch was able to increase its sales by 3.5 percent in the first quarter of 2023. Despite the modest economic outlook, the company is aiming for sales growth of between 6 and 9 percent for the whole year 2023. Its target for EBIT margin from operations in 2023 is in the region of 5 percent. Even if the economic and social environment remains demanding, Bosch wants to grow significantly faster in the coming years. “Our aim is to grow in every region of the world and to be among the leading three suppliers in our relevant markets,” Hartung said.

The fight against climate change is causing considerable upheaval in business and society, and accelerating technological change. “This technological transformation is opening up growth opportunities that we want to seize. In this context, our ‘Invented for life’ ethos is ideal – not only when it comes to the major trends of electrification, automation, and digitalization, but more than ever also with respect to software and artificial intelligence,” Hartung said. Bosch is responding to the trend toward software-based automotive engineering by realigning its automotive-supply business: within Robert Bosch GmbH, Bosch Mobility will in the future be managed as a business sector with responsibility for its own business and its own leadership team. The aim is to be able to serve existing and new customer needs even better and faster with customized solutions from a single source. The Bosch chairman announced that the newly restructured mobility business is set to grow annually by an average of roughly 6 percent up to 2029, when it will achieve annual sales of more than 80 billion euros.