With an increase in turnover of 11.3%, 2022 ended for Bosch in Greece, as it amounted to 245.9 million euros against 221 million euros in 2021, maintaining the positive signs that the company has consistently shown over the past decade.

In terms of turnover by segment and activity, the automotive segment in Greece recorded an overall increase of 9.5%. The consumer goods segment posted a 14.4% increase, while the energy and construction technology segment saw a 6.4% decline, which is considered modest given the strong impact of the energy crisis. Finally, in the sector of industrial solutions, the growth was about 20%. As noted yesterday during a press conference at which the company’s financial results were presented by its managing director Ioannis Capras, the reduction in the energy and building technology department is mainly due to the fact that due to rising natural gas prices, several households have postponed or canceled the installation natural gas heating systems.

For 2023, the company’s turnover is expected to increase by 5.4%.

The profit before interest and taxes of only one subsidiary in Greece, Robert Bosch AE, increased by 4.3% in 2022 to 2.9 million euros. Three subsidiaries operate under the Bosch umbrella in Greece: Robert Bosch, B/S/H and Bosch Rexroth. Earnings before interest and taxes from the joint venture of the three companies amounted to €11 million in 2022, up 4.5% on 2021.

2023 started off positively for Bosch in Greece, with growth of 4.8% in the first quarter of this year, with Mr. Capras estimating that 2023 will end with an overall turnover growth of 5.4%. He even described the forecast as rather conservative, pointing out that there are still factors affecting the cost of production, but also demand, such as the continuation of the war in Ukraine, rising interest rates and inflation. The managing director of Bosch in Greece stressed, however, that the picture is encouraging for the Greek economy, as growth of 2.4% is forecast for the first half of 2023, while at the same time there are signs of a slowdown or even a recession in Europe.