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.
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