Bosch, 2020 results in Italy conditioned by the automotive market – Industry

The total of Bosch’s activities in Italy, which include 21 companies and 4 research centers for a total of approximately 6,000 employees, achieved a turnover of approximately 2 billion euros in 2020, i.e. almost 11% less. compared to the previous year. As was underlined today in a web conference, the impact of the Coronavirus emergency nevertheless allowed the company to perform better than initial forecasts, thus contributing to the result achieved at Group level.
“Despite the pandemic, Bosch Italia has surpassed 2020 better than expected, thanks to a business diversification strategy and the great commitment, flexibility and creativity of all employees – said Fabio Giuliani, general manager of the Bosch Group in Italy. – Although 2021 is still a challenging year, the trend in the first quarter is certainly positive. This allows us to face future challenges with optimism and determination by pursuing our objectives, including, in particular, that of a ‘Technology for life in compliance with sustainability and the correct use of resources “. In particular, Bosch’s Mobility Solutions sector – the one that generally concerns the automotive supply chain – suffered from the sharp contraction of the reference market in Italy, which went from 1.92 million registrations in 2019 to 1.38 million in 2020, almost the 28% less. However, thanks to the business trend linked to new mobility solutions – which developed better than the reference Italian market – a positive trend was recorded for eBike components, produced at the Bari plant.
In Italy, the sale of pedal assisted bicycles amounted to around 280,000 units (+ 44%) thanks also to the incentives of the Mobility Bonus. The projects for the supply of innovative services for mobility also continued, including those for electromobility and to improve air quality in general. In 2020 Bosch also intensified synergies with Italian car and motorcycle manufacturers such as Maserati and Ducati.
The reduction in sales due to the pandemic, and the reduction in mileage, influenced the results in Italy of the Automotive Aftermarket division. However, the division continued with its strategy to support the Bosch Car Service and AutoCrew workshop programs and independent spare parts partners, developed together with local Bosch dealers.
Decrease in turnover also for the Industrial Technology business sector in 2020 due to the health prevention measures that led to the blocking of all non-essential production activities. This involved virtually the entire Bosch Rexroth customer base. 2020 was therefore used by the supplier of drive and control technologies and systems to the industry to accelerate the digitization process by implementing, among other things, remote maintenance systems.
On the other hand, during the pandemic, the Consumer Goods business sector saw a sharp increase in demand for power tools and household appliances, also thanks to the contribution of the online sales channel. The Power Tools division in 2020 recorded a development in sales both in the professional and hobby sectors, benefiting from the shift in consumption towards goods related to the home and living in general. The BSH Appliances division, which offers connected products for an increasingly smart home, also closed 2020 positively.
Slight growth in turnover in 2020 for the Energy and Building Technology sector, with the Thermotechnics division which – seizing the opportunities offered by government incentives in terms of energy efficiency – closed the year with an increase in its turnover compared to 2019 On the other hand, the Building Technologies division, which operates in security systems and also offers integrated products and services for energy efficiency, suffered a marked slowdown due to the blockade of construction sites due to the pandemic.
In his speech, the CFO of Bosch Italia, Georg Wahl, however, reassured the prompt recovery in all sectors and a return to profitability (also guaranteeing employment in Italy) by the end of the year. “In the first quarter of 2021 – said Wahl – Bosch saw turnover grow well over 20% and the positive trend was also confirmed in April and May. We expect to recover what was lost in 2020 at the end of the year. compared to 2019 “.

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