Auto supplier Robert Bosch has revised its forecast for automotive production on Saturday, expecting a 5per cent fall this year, bigger than an ...
FRANKFURT: Auto supplier Robert Bosch has revised its forecast for automotive production on Saturday, expecting a 5per cent fall this year, bigger than an earlier estimate for a 3per cent decline, the company's chief financial officer told Boersen-Zeitung.
As a result Bosch would not be able to achieve an earnings before interest and taxes margin of 7per cent as it did last year, Stefan Asenkerschbaumer told the newspaper.The company had forecast a rise in revenue and an EBIT margin of 6per cent to 7per cent for this year. "We will not be able to repeat the high margin from last year given the development in revenues," Asenkerschbaumer said, adding that he believed automotive production would stagnate over the next three years.
By 2025, Bosch expects to generate 5 billion euros in revenue from electric cars thanks to steady growth in this segment, particularly from China, he said. Bosch has already supplied components for more than 1 million electric vehicles and expects revenues to grow since it has developed powertrains for 50 vehicle platforms for various manufacturers, the executive told the newspaper.
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