Bosch, the global technology and automotive supplier, is bracing for a challenging year ahead, with its CEO Stefan Hartung citing US tariff policies as a significant uncertainty. During the annual financial presentation in Renningen, near Stuttgart, Hartung emphasized the broad impact of these tariffs, stating, 'We are affected by everything, no matter what is being discussed there.' The financial implications for Bosch remain unclear, with potential impacts ranging from millions to billions of euros. Hartung cautioned against premature predictions, noting the need for a 'particularly clear crystal ball' to foresee the outcomes.
The company anticipates that clarity regarding the tariffs' effects will only emerge later in the second half of the year. Until then, Bosch plans to wait and see what deals are made, acknowledging that the new situation will undoubtedly differ from the past and incur additional costs. This uncertainty is reflected in Bosch's cautious growth forecast for the year, with expected revenue growth of only 1 to 3 percent, significantly below the company's medium-term targets.
Despite a 4 percent increase in sales in the first quarter compared to the previous year, Hartung warned against extrapolating this performance to the entire year. 'The year will be extremely difficult to predict,' he said, highlighting the multitude of external factors impacting Bosch. However, Hartung remains hopeful for a better year than 2024, with CFO Markus Forschner aiming for improved results. The management's focus is already shifting towards 2026, when the company expects to see a significant rebound in profits.
As Bosch navigates through these uncertain times, the company's leadership is preparing for a period of adjustment and recalibration. The global automotive supplier is no stranger to challenges, but the current geopolitical and economic landscape presents a unique set of hurdles. With the US tariffs adding another layer of complexity, Bosch's ability to adapt and innovate will be critical in overcoming the obstacles ahead and achieving its long-term financial goals.
A significant technical disruption has affected tax offices across several northern German states, including Schleswig-Holstein, Hamburg, Niedersachsen, Bremen, Mecklenburg-Vorpommern, and Sachsen-Anhalt. The issue, stemming from a service provider's network communication failure, has...
Germany's economic landscape is facing unprecedented challenges as the number of corporate insolvencies reaches a 20-year high. According to the Leibniz Institute for Economic Research Halle (IWH), April saw 1,626 insolvencies among personal and capital companies, marking an 11% increase from...
Germany has announced plans to intensify border controls in an effort to reduce the number of refugees entering the country. This move, spearheaded by Interior Minister Alexander Dobrindt of the CSU, includes stationing more federal police at the borders and rejecting asylum seekers, with...
Krones AG, a leading provider of filling and packaging technology, has reported a strong start to the fiscal year 2025, with its stock reaching near-record highs. The company's shares have surged by 37% since April, driven by robust quarterly results and a solid order book that ensures...
Thyssenkrupp Marine Systems (TKMS), the renowned submarine manufacturer based in Kiel, has announced a significant expansion of its order book with a new contract from Singapore. The agreement involves the construction of two additional Type 218SG submarines, further solidifying the company's...
