Bosch and Siemens announces preliminary 2013 revenue of €10.5B, up more than 7% from year-ago period, marking first time that company has increased revenue to more than €10B

Nevin Barich

MUNICH , April 8, 2014 (press release) – Strategy for Accelerated Profitable Growth Introduced

Substantial Investments in Regional Presence, Innovation Power and Brands

Goal: Outperforming Market Growth and Expanding Global Market Position

BSH Bosch und Siemens Hausgeräte GmbH (BSH) raised its total revenue by more than 7% to EUR 10.5 billion according to the preliminary 2013 figures disclosed today. Double-digit growth in China and the USA, combined with the company's success in extending its market leadership in Europe, contributed to this record-setting revenue. With this performance, BSH has secured its position as the global no. 3 among household appliance manufacturers. EBIT topped EUR 500 million despite the costs of a voluntary safety measure for dishwashers. From this position of strength, BSH aligns its strategy toward long-term profitable growth, and will invest substantially in innovative products and the global implementation of its multi-brand strategy.

"We have reached an important milestone in our company's history with more than EUR 10 billion consolidated revenue, and are now poised at an excellent vantage point, poised for future international growth," says Dr. Karsten Ottenberg, CEO of BSH. R&D intensity remained high in 2013 at more than 3% of revenue while the headcount increased to around 50,000. A Euro bond issue in excess of EUR 500 million contributed to the company's long-term liquidity. "BSH is looking back on an extraordinary success story and we are to continue this story. We intend to extend our position on the global market and outpace the market with profitable growth," notes Ottenberg.

BSH's CEO states the firm will have to identify the challenges in diverse international markets for household appliances and consistently seize regional opportunities to achieve this target. BSH aims to maintain profitable growth in the years ahead by pursuing a strategy focused on the diversity of consumers' needs. The emphasis will be on expanding regional competencies as well as on investing in the firm's innovation capabilities, in the product portfolio and in the brands. Ottenberg adds "Our strategy builds on what made BSH strong and made us stand out: globally renowned brands, the experience and expertise of our people, and our proven technology skills." In the future, the prevailing technology in household appliances is to be combined with digital functions and design features.

Digitalization and regionalization -- crucial for success

"Consumer behavior is changing, and regional growth markets are shifting. The impact of digitalization on products and the value chain is playing an ever more prominent role in all this." Ottenberg adds, "We will be aligning our offer accordingly, and persistently taking advantage of and actively shaping the changes in the market. All along our value chain, from product development to marketing and service, we are redoubling the focus on consumers' needs and offering a solution to fit each need." As BSH's CEO sees it, regionalization will be the key to the company's future success.

Based on a solid financial position, BSH also aims to invest a high triple-digit million amount in R&D, in expanding its presence in the regions, and in its brands. Apart from Europe and China, the focus will be on North America, Turkey, Russia, the Middle East and Africa, as well as on Asia Pacific markets, including India and Southeast Asia.

The final figures for fiscal 2013 will be published in late May 2014 with the annual report.

Press photos are available at presse.bsh-group.de.

With annual sales of around EUR 10.5 billion in 2013 and more than 50,000 employees, BSH Bosch und Siemens Hausgeräte GmbH is one of the global leaders in the home appliance sector. BSH manufactures at 40 factories, operates over 80 companies and has a presence in 47 countries.

For more information, visit www.bsh-group.de.

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