Annual financial results 2024.. Bosch records strong growth in the Middle East

• Bosch registered AED 2.3 billion (574 million euros) sales in the Middle East.
• Consumer Goods, Mobility and Industrial Technology business sectors continue to drive growth.
• Bosch foresees growth in industry 4.0 solutions, smart and energy-efficient building technologies, and mobility innovations.

Dubai, United Arab Emirates

Bosch, a leading global supplier of technology and services, ended its 2024 fiscal year with AED 2.3 billion (574 million euros) in consolidated sales in the Middle East, registering a 18 percent year-on-year increase despite tough market conditions. Key contributions came from business divisions including Home Appliances, Power Tools, Mobility Aftermarket, Home Comfort, Bosch Engineering, and Bosch Global Software Solutions. Bosch remains focused on enhancing local expertise in these strategic areas to support sustained regional growth.

“Despite challenging global market conditions, Bosch Middle East continues to strengthen its position as we invest in the dynamic, fast-growing markets in the region. We are implementing our regional strategies with a strong emphasis on innovation and sustainability, while actively supporting the development of the technological landscape in the region – bringing Bosch’s advanced solutions to its focus areas such as Mobility, Industrial Technology, and the Energy and Building Technology business sectors – to meet the demands of some of the world’s fastest-growing economies,” said Per Johansson, Vice President, and Board Member of Bosch Middle East. “With highly skilled teams, a sound business strategy, and over a century of expertise, we expect this positive momentum to continue in the future.”

The number of associates employed at Bosch in the Middle East stood around 500 as of December 31, 2024.

Positive development across all Bosch business sectors

Bosch Mobility saw significant growth in 2024, in the Middle East, driven by increasing demand for smart and sustainable mobility solutions and the emergence of new vehicle manufacturers, startups, and engineering, design and manufacturing hubs in the region. From automotive components to advanced driver assistance systems and connected mobility platforms, Bosch continues to enable the rollout of safe, efficient, environmentally friendly, and intelligent transportation systems in line with national visions of the region. Finally, significant progress was seen in the Mobility Aftermarket business, led by traditional passenger car spare parts and heavy-duty commercial vehicle components.

Bosch Global Software Technologies recorded strong growth, driven by rising demand for AI-powered products, services and Engineering Services. This growth was particularly strong in Saudi Arabia and the UAE, supported by both the acquisition of new clients and the expansion of existing digital enterprise partnerships, which further accelerated the division’s momentum.

In the Consumer Goods business sector, Bosch experienced consistent high demand for home appliances in the region. With investments in infrastructure and life enhancing construction projects, Bosch Power Tools grew strongly. This was further bolstered by an expanded range of cordless tools and accessories.

Bosch’s Home Comfort division saw growth driven by the expansion in the Food & Beverage and Hospitality sectors. This led to an increasing demand for energy- efficient products like Electric Steam and Hot Water Boilers, which meet the market’s need to reduce fossil fuel usage and move towards an emission-free, green environment.

Bosch Middle East expansion highlights 2024

In 2024, the company marked a major milestone with the successful opening of its new headquarters in the Kingdom of Saudi Arabia, a strategic step that highlights the company’s long-term dedication to the region and aligns closely with the forward-looking objectives of Saudi Vision 2030. This expansion reflects Bosch’s recognition of Saudi Arabia’s proactive approach to economic development and its drive to build a thriving, sustainable economy. In addition, the company recently announced the upgrade of its state-of-the-art office in the UAE and is gearing up for the inauguration of its new office in Oman.

Continuous investment in the region

With government and private investments accelerating industrial transformation, smart cities, smart mobility, and sustainability initiatives across the region, we foresee growth opportunities in Industrial Technology, Energy and Building Technology, and Mobility.

In the Industrial Technology business sector, the Bosch Manufacturing Group is heavily investing in turnkey solutions to boost production efficiency, automation and digital connectivity, fostering smart factories in line with regional adoption of Industry 4.0 technologies. By enabling the development of smart factories, Bosch is helping to drive productivity gains while supporting sustainability objectives, positioning itself as a key enabler of the region’s ambitious industrial growth plans under Vision 2030.

Given the region’s construction boom, together with advances in energy efficiency and sustainability, the Energy and Building Technology business sector is also set for future growth. The region’s target of building approximately 3 million new homes in Saudi Arabia alone underscores the immense demand for smart, energy-efficient building technologies. Bosch’s expertise in connected building solutions aligns with these goals, supporting energy conservation, indoor air quality, and intelligent climate control systems.

Bosch Mobility’s solutions portfolio – from automotive components to advanced driver assistance systems and connected mobility – meets the evolving needs of Saudi Arabia and the UAE as they invest heavily in smart mobility infrastructure.  Bosch’s solutions enable safer, more efficient, and environmentally friendly transportation systems, which are integral to the region’s goal of reducing carbon emissions and enhancing quality of life through intelligent mobility.

Bosch Group: Outlook and strategic direction for 2025

The Bosch Group is continuing with its ambitious Strategy 2030 to strengthen its competitive position, even though the market environment was a significant brake on growth last year: at 90.3 billion euros, the supplier of technology and services generated 1.4 percent less sales revenue in 2024 than in the previous year, or 0.5 percent less after adjusting for exchange-rate effects. The EBIT margin from operations was 3.5 percent. “In the 2024 fiscal year, we achieved important improvements in terms of costs, structures, and portfolio,” said Stefan Hartung, chairman of the board of management of Robert Bosch GmbH.

With a normal inflation rate of between 2 and 3 percent, Bosch aims to achieve annual growth of between 6 and 8 percent on average until 2030. In the first quarter of the year, Bosch increased its sales revenue by 4 percent compared to the previous year. The Bosch Group is still aiming for a target margin of 7 percent in 2026, viewing this as extremely challenging given current market conditions. To remain successful amid changing markets and technologies, Bosch will continue to work intensively on costs and structures and focus on profitable business areas. “As a global technology leader, we are fully committed to boldly playing to our strengths, such as our high level of innovativeness,” Hartung said.

The company also sees its collaboration with startups as a major stimulus for growth. As one of Europe’s biggest corporate venture-capital investors, the Bosch Group announced a new fund for venture capital: the subsidiary Bosch Ventures is providing around 250 million euros. Bosch expects developments in its core Mobility business sector, particularly in electromobility, hydrogen, and software-defined vehicles, to be a major stimulus for growth.

In the Consumer Goods sector, Bosch sees significant growth opportunities arising from new customer requirements. The focus for power tools is on expanding the range of cordless devices, and BSH Hausgeräte is launching a fridge-freezer this year that is the first Matter-capable home appliance on the market.

In its Industrial Technology business, Bosch expects order intake to stabilize and is still pursuing the goal of achieving sales revenue of around 1 billion euros by the beginning of the next decade with software and digital services such as the Hydraulic Hub. Additionally, factory automation is set to focus on growth areas such as battery, semiconductor, and consumer goods production.

In the Energy and Building Technology sector, Bosch expects the planned acquisition of the heating, ventilation, and air-conditioning (HVAC) business of Johnson Controls and Hitachi to deliver significant growth. Despite all the global turbulence, climate action remains a core concern for Bosch. The company is underlining this with new scope 3 targets, which aim to bring down carbon emissions outside Bosch’s direct sphere of influence, such as those from product use, even further by 2030. Irrespective of its growth targets, Bosch wants to double its corresponding CO2 reduction target by then from 15 to 30 percent compared to 2018. “Climate change won’t disappear just because the global economy currently has other challenges to deal with,” Hartung cautions. “Sustainability remains a priority for Bosch.”

Contact person for press inquiries:            

Dana El Majzoub, Bosch Türkiye and Middle East Senior Corporate Communications and Brand Manager.

Phone: +971 54 997 7685