Thailand sparking Bosch growth
Thailand is set to serve as a major market for Bosch Group in the Asean region, with consolidated sales of Bt8.9 billion in 2011, up 25 per cent compared to the previous year.
“Thailand posted the highest growth for Bosch in Southeast Asia, accounting for almost 40 per cent of our total sales in the region. This amounts to some Bt23 billion. With such strong growth, Thailand will continue to be a key driving force for Bosch in Southeast Asia,” said Martin Hayes, president and managing director of Bosch in Southeast Asia.
The brand’s growth came despite the flood crisis at the end of 2011.
Said Bosch Thailand managing director Peter Vandlik: “The strong growth that we have achieved in 2011 is due to the continued build-up of our innovative strength, as well as the success of our branding and marketing activities. In 2012, we will maintain our strategy to boost investments and increase the local presence of our business divisions so as to deepen the roots for sustainable development in Thailand.”
The Asia-Pacific, which remains an especially dynamic growth region for Bosch, witnessed sales growth of 8.9 per cent to some Bt504 billion for the company. With an additional Bt33.6 billion invested in the region in 2011, business growth in the Asia-Pacific is on track to contribute 30 per cent to the company’s global sales by 2015.
Globally, Bosch Group grew more strongly in 2011 than expected, despite a weaker global economy. Sales increased by 9.0 per cent to ¤51.5 billion (Bt2 trillion) while profit before tax stood at ¤2.6 billion.
In 2012, worldwide sales of the leading supplier of business and services are expected to grow between 3 and 5 per cent. Investments will remain on a high level with capital expenditure again exceeding ¤3 billion.
“In 2012, we expect to spend ¤4.6 billion on research and development, ¤400 million more than in 2011,” announced Bosch Group CEO Volkmar Denner, who has just succeeded Franz Fehrenbachon.
