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SOFIA (Bulgaria), July 11 (SeeNews) - German technology and services provider Bosch Group has increased its consolidated turnover from operations in Bulgaria by over 19% year-on-year to 203 million levs ($117 million/ 104 million euro) in 2018, a senior company executive said.
“Bosch’s business in Bulgaria developed very well again in 2018 in all business sectors represented in the country: Mobility Solutions, Consumer Goods, and Energy and Building Technology,“ Mihai Boldijar, representative of the Bosch Group in Bulgaria, said in a statement last week.
The performance of Bosch in Bulgaria is mainly backed by the strong development in one of the three subsidiaries of Bosch Group in the country - Bosch Software Innovations. The software company employed more than 170 associates at the end of last year, up 25% on 2017, and plans to further increase its headcount by 30% in 2019.
Bosch Software Innovations achieved 10.5 million levs of sales revenues in 2017 and had 140 employees, according to data from Bulgaria's commercial register.
"Despite the difficult environment in industries and regions that are important for the company, Bosch expects its sales in the current year to slightly exceed their 2018 levels," Bosch Bulgaria said in its statement.
In 2015 Bosch Group acquired software company ProSyst, with roughly 130 associates in Sofia, Bulgaria and Cologne, Germany and fully merged it with Bosch Software Innovations, creating its third Bulgarian-based unit.
Bosch entered the Bulgarian market in 1993 through the establishment of its first subsidiary, Robert Bosch EOOD, a wholly-owned unit of Germany's Robert Bosch. BSH Household Appliances Bulgaria, a unit of BSH Hausgerete, was founded in 2010.
(1 euro = 1.95583 levs)