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Bosch Thermotechnology has good start to the new year Growth prospects for eco-friendly technologies


· Bosch Thermotechnology held its ground in a difficult year

· 2009 sales revenues only 4% below record level of the prior year

· Renewable energies account for 15% of total sales

Wetzlar/Stuttgart – Bosch’s Thermotechnology division had a good start to the year 2010. While the effects of the economic crisis can still be felt, there have been clear signs of a recovery. Sales revenues in the Asian emerging markets and the key Western European markets picked up in the first three months of the year. Moreover, the drop in demand in Central and Eastern Europe has been halted since the beginning of the year. “Our performance in the difficult year 2009 shows that our fundamental positioning is right,” Uwe Glock, President of the Board of Management of the Thermotechnology Division, said at the press conference in Stuttgart.

Positive result generated
At EUR 2.87 billion, sales revenues in 2009 were down by approx. 4% (2% in exchange rate-adjusted terms) on the record level of the previous year. As Bosch Thermotechnology anticipated the economic downturn at an early stage, the division initiated a number of counter-measures and therefore generated a positive result in spite of the moderate decline in sales. At over 13 000, the headcount slightly exceeded the prior year level at the end of the year as a result of the acquisitions made in 2009.

Demand in Eastern Europe and North America declined markedly in the past year. Business in Bosch Thermotechnology’s key markets, i.e. the UK, the Netherlands, Spain and France, also fell short of the prior year level, albeit only slightly. Sales revenues in Germany were moderately higher than in the previous year, as the government’s market incentive programme and, in particular, the bonus for heating replacements helped to stabilise total demand.

Although house owners invested less money in energy-efficient heating technology last year in view of lower energy prices, Bosch Thermotechnology reported strong growth in solar thermal systems. The renewable energy business accounts for 15% of total sales. In the coming years, the division will continue to expand its activities surrounding systems for the use of renewable energies and energy-efficient solutions. The focus will be not only on private users but increasingly also on commercial and industrial customers. The acquisitions of Loos, a leading European supplier of highly efficient steam and hot water boilers, and Köhler&Ziegler, a manufacturer of combined heat and power plants, have added new eco-friendly technologies to the portfolio of Bosch Thermotechnology and helped the division to expand its market position in the commercial and industrial segment significantly.

Investments in technologies of the future remain a top priority
Bosch Thermotechnology is cautiously optimistic about the year 2010. “Cutting C02 emissions is a key issue across the globe, and there is certainly a need for action as regards environmental protection. Bosch Thermotechnology has the systems and solutions that are required to tackle these problems in the building sector. This means that the long-term growth prospects for our business remain good,” said Uwe Glock. Investments in technologies of the future will remain a top priority. At EUR 131 million, investments in the future held steady at the prior year level even in the crisis year 2009. Research and development accounted for EUR 94 million, while an amount of EUR 37 million was invested in property, plant and equipment.

Bosch Thermotechnology is a leading supplier of resource-efficient heating products and hot water solutions in Europe. In fiscal 2009, the company generated sales of 2.87 billion euros (66 percent outside Germany) and employed approx. 13,000 people. Bosch Thermotechnology has strong international and regional brands and manufactures a diversified product range in 21 plants in 11 European, North American and Asian countries.

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The Bosch Group is a leading global supplier of technology and services. In the areas of automotive and industrial technology, consumer goods, and building technology, some 275,000 associates generated sales of 38.2 billion euros in the areas of automotive and industrial technology, consumer goods, and building technology in fiscal 2009. The Bosch Group comprises Robert Bosch GmbH and its more than 300 subsidiaries and regional companies in over 60 countries. If its sales and service partners are included, then Bosch is represented in roughly 150 countries. This worldwide development, manufacturing, and sales network is the foundation for growth. Each year, Bosch spends more than 3.5 billion euros for research and development, and applies for some 3,800 patents worldwide. With all its products and services, Bosch enhances the quality of life by providing solutions which are both innovative and beneficial.

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