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Bosch North America

Annual Financial Results 2016

Bosch continues to develop North American business. Company maintains continued strong sales in Mobility Solutions, Consumer Goods, and Energy and Building Technology
- Bosch ended its 2016 fiscal year with $13.7 billion (12.3 billion euros) in consolidated sales in North America

- Number of associates employed in North America in 2016 grew more than 5 percent, to nearly 32,800

- Continued strong development in Mobility Solutions, Consumer Goods, and Energy and Building Technology business sectors

FARMINGTON HILLS, Mich. – Bosch, a leading global supplier of technology and services, concluded its 2016 fiscal year with $13.7 billion (12.3 billion euros) in consolidated sales in North America. Sales for Bosch in the region dropped slightly from 2015’s record-breaking level of $14 billion. Sales in the North American region represent 17 percent of the Bosch Group’s 2016 sales. The number of associates employed throughout the U.S., Canada and Mexico in 2016 reached nearly 32,800, a year-over-year increase of more than 5 percent. This number is expected to increase slightly in 2017.

“North America is a key market for Bosch, and we remain committed to innovation and success,” said Mike Mansuetti, president of Robert Bosch LLC. “With the Internet of Things continuing to bring new opportunities, Bosch’s diversified portfolio of products and services is a competitive advantage.” Based on the results of the first quarter, the company expects a positive business development in 2017.

Continued investments in North America
Focused on growing operations throughout the region, Bosch invested nearly $450 million in 2016. Of significance were investments in Bosch’s facilities in Charleston and Anderson, South Carolina; sites in Aguascalientes, Juarez and San Luis Potosi, Mexico; and Bosch’s Research and Technology Center in Pittsburgh and the technical center in Plymouth, Michigan.

Bosch also invested in startups. Earlier this year, the Bosch in-house startup Mayfield Robotics debuted Kuri, its first commercial home robot, to much praise. The nearly 20-inch-tall robot moves about a home, interacting with parents and children differently via facial recognition. Kuri also plays music, livestreams video when away from home, investigates uncommon sounds, chirps affectionately when tapped on the head and conveys moods with colorful lights.

In addition, Bosch partnered with 1871, a technology incubator in Chicago, to launch the Chicago Connectory, an IoT co-creation space, earlier this month. Bosch is investing nearly $2 million to launch the Chicago Connectory, at which startup organizations, corporations and universities will collaborate through membership, programming and strategic partnerships to create IoT solutions and business models.

Transformation across Bosch business sectors
Bosch is shaping transformation across its four sectors – Mobility Solutions, Consumer Goods, Industrial Technology, and Energy and Building Technology. This means connecting traditionally offline home appliances via the IoT, and driving innovation in automated vehicle technology, personal home robots, and a variety of other areas to improve daily life now and in the future.

Bosch Mobility Solutions focuses on automated, connected and electrified
Bosch’s Mobility Solutions business sector drove $9.2 billion in regional sales. To address the growing need for automated, electrified and connected technologies, Bosch combines innovative hardware, software and services.

With vehicles continuing to become personal assistants, Bosch sees the important role that connected car technologies will play in the years to come. By 2025, connected assistance systems could help save 210,000 accidents resulting in injuries, 4,000 lives and $3.6 billion in damage costs in the U.S. alone, according to a study commissioned by Bosch. There are other benefits, as well: Highly automated driving could free up hours for commuters, and connected parking solutions could save millions of miles spent driving around looking for parking.

Bosch recently announced that it is working with Daimler to advance fully automated and driverless vehicles for city streets. The goal is to launch a system that allows vehicles to drive completely autonomously by the start of the next decade.

Beyond automobiles, the Mobility Solutions business sector is also focused on developing technologies for off-highway applications, two-wheelers, shipping, rail transportation and more.

Bosch Consumer Goods continues to introduce connected products
Sales for the Consumer Goods business sector in North America remained on par with 2015, with $2.4 billion in sales generated. “Continued innovation is a cornerstone of Bosch, which is why we’re always bringing new technologies to market,” said Mansuetti. “For example, we announced earlier this year that Bosch Home Appliances will launch Wi-Fi-enabled appliances that can be controlled through our Home Connect app as well as with Amazon’s intelligent personal assistant, Alexa.”

The Power Tools division, part of the Consumer Goods sector, performed well in 2016. Earlier this year, Bosch introduced the CORE18V battery, which provides greater power and performance without compromising size or weight. In addition, PRO+GUARD™ dust solutions were released to help users meet strict new OSHA requirements for worker exposure to respirable silica dust. Also, the new multi-function MeasureOn app enables architects, painters, real estate agents, electricians and others to document and manage site measurements and floor plans all in one place.

Industrial Technology sector innovates products both big and small
The Industrial Technology business sector reported $1.3 billion in sales, despite a continuously difficult market environment. Bosch Rexroth, which is one of the world’s leading suppliers in drive and control technology, offers customized drive, control and actuator solutions for factory automation systems, construction and engineering, mobile machinery and commercial vehicles, and is increasingly developing solutions for connected manufacturing (Industry 4.0). No job is too big; case in point, Bosch Rexroth recently supplied 158 hydraulic power units for the expansion of the Panama Canal.

Bosch Packaging Technology launched new cookie and confectionery packaging systems in 2016, due to strong industry demand. Food manufacturers benefit from faster production, the ability to change pack styles quickly to drive greater visibility at the point-of-sale as well as from a shorter return on investment. Additionally, these solutions allow for layout flexibility and scalability, enabling manufacturers to easily expand their production capacity or increase the level of automation from entry level, hand-fed machines, to fully automated solutions.

Security Systems and Thermotechnology help Energy and Building Technology sector increase sales
The Energy and Building Technology business sector reported sales growth, with regional sales of $800 million in 2016. Bosch Security Systems achieved growth in 2016 driven in part by the success of its network-based security surveillance camera portfolio and its intrusion detection systems. The division also introduced IoT-enabled solutions that integrate security and communications technologies to enhance facility control and ease of use.

In addition, Bosch Security Systems announced a partnership with Sony Corp., introducing a technical cooperation that aims to set new standards for high-resolution video surveillance imaging. As part of the agreement, Sony sales and marketing associates have joined the Bosch organization, forming a dedicated team responsible for servicing customers of Sony video security products.

From Bosch Thermotechnology, the Greentherm 9000-series tankless water heater, available in the U.S. later this year, is the “embodiment of innovation in the Energy and Building Technology sector,” said Mansuetti. “This award-winning tankless water heater is remarkably efficient, reliable and easy to install, not to mention state-of-the-art with Wi-Fi connectivity via the free mobile app.”

Bosch supporting corporate citizenship with grants and volunteers
Bosch has a strong commitment to giving back to the community – both in grants and donations, as well as time. Between 2012 and 2016, the company’s U.S.-based foundation, the Bosch Community Fund, has awarded more than $13.8 million to organizations and educational institutions in the U.S. The Bosch Community Fund, which focuses on promoting STEM (science, technology, engineering and math) and environmental initiatives, provided $3.8 million in grants to organizations in 33 communities in 2016 alone.

In addition, Bosch associates in North America volunteer tens of thousands of hours to benefit community organizations, notably FIRST Robotics and other STEM programs. The Bosch Builds program enables Bosch associates at several locations to use eight working hours each year to volunteer in the community with certain non-profit organizations.

Bosch Group: Strategy and business outlook for 2017
For 2017, in light of a subdued economic outlook and geopolitical uncertainty, Bosch aims to achieve sales growth of between three and five percent. And despite still heavy upfront investments in safeguarding the company’s future, the results are set to rise. “Business success today gives us the leeway to shape tomorrow’s world,” said Dr. Volkmar Denner, chairman of the Bosch board of management. “As an innovation leader, we are shaping and driving transformation,” Denner added. The focal points of this transformation are changes in the mobility sphere and IoT connectivity. By 2020, all Bosch’s new electronic products will feature connectivity. The key to this is artificial intelligence (AI). Over the next five years, Bosch will be investing 300 million euros in its own center for artificial intelligence.

About Bosch
Having established a regional presence in 1906 in North America, the Bosch Group employs nearly 32,800 associates in more than 100 locations, as of December 31, 2016. In 2016 Bosch generated consolidated sales of $13.7 billion in the U.S., Canada and Mexico. For more information, visit www.boschusa.com, www.bosch.com.mx and www.bosch.ca.

The Bosch Group is a leading global supplier of technology and services. The company employs roughly 390,000 associates worldwide (as of December 31, 2016) and generated sales of 73.1 billion euros ($80.9 billion) in 2016. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected industry. 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 create solutions for a connected life, and to improve 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 subsidiaries and regional companies in some 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. At 120 locations across the globe, Bosch employs 59,000 associates in research and development.

Exchange rate: 1 EUR = $1.1069





Annual Financial Results 2016 - May 2017

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