Robert Bosch's sales in Bulgaria grow 24% in 2023

Last year, Bosch booked consolidated sales of 431 million levs from its operations in Bulgaria, the company said in a press release.

Bosch has three subsidiaries in Bulgaria, including Robert Bosch Bulgaria, BSH Domakinski Uredi Bulgaria and Bosch Digital. At the end of 2023, the group employed 1,002 staff in the country, including non-consolidated companies, marking a 17% annual increase.

"Despite the dynamic and volatile global economic environment, the Bosch Group companies, registered in Bulgaria, were able to achieve a net sales growth," Robert Bosch Bulgaria general manager Konstantin Konov said.

Globally, the Bosch Group generated sales of 91.6 billion euro ($99.5 billion) last year, up 3.8% year-on-year. Earnings before interest and taxes (EBIT) came in at 4.8 billion euro, compared to 3.8 billion euro in 2022.

Looking ahead, Robert Bosch projects annual sales growth of 5-7% in 2024, with EBIT remaining at or below last year's level, amid stagnating vehicle production and continued challenges in the mechanical engineering market.

However, the company expects its business to stabilise, supported by innovation and international expansion, including a new cooker plant in Egypt and a refrigerator factory in Mexico currently under construction.

(1 euro = 1.95583 levs)