- German Group aims to rank among the top three suppliers in its key markets in all regions of the world.
German engineering and technology firm Bosch has registered a three per cent increase in Middle East sales in 2023 fiscal year to €490 million amid a tough year.
“Despite the challenges posed by the market due to geopolitical developments and respective economic impact, Bosch has demonstrated resilience and adaptability. Our associates’ dedication and hard work delivered the best possible results across divisions,” Per Johansson, general manager of the Bosch Group in the Middle East, said.
The number of associates employed at Bosch in the Middle East stood at around 485 as of December 31, 2023.
Optimistic about the future
The growth was attributed to various divisions within Bosch, including Bosch Rexroth, Building Technologies, Mobility Aftermarket, and the Bosch Global Software Technologies subsidiary.
Johansson remains optimistic about the future and is committed to driving growth through its technology ‘Invented for life’ and improving the quality of life
“We aim to accelerate our growth in 2024 and beyond, with a focus on continued regional expansion,” he added.
In 2024, the Bosch Group is planning a strategic expansion into the Kingdom of Saudi Arabia and Oman. Johansson underlines the company’s commitment to the region and its intention to reinforce its footprint in the Middle East.
“The growing markets of Saudi Arabia and Oman are of strategic importance to the Bosch Group in the Middle East as they offer vast potential for expansion, driven by significant economic reforms, infrastructure development, and a focus on sustainability,” he said.
The Group increased its global sales by 3.8 per cent to €91.6 billion for the 2023 fiscal year.
“Bosch aims to rank among the top three suppliers in its key markets in all regions of the world. We’re pursuing innovations, partnerships, and acquisitions to ensure we grow as our industries transform – despite economic headwinds,” Stefan Hartung, chairman of the board of management of Robert Bosch GmbH, said.