Bosch announces preliminary financial results for FY2018
Sales drops marginally y/y to USD89 billion, Mobility Solutions sector sales up 2.3% y/y
German automotive supplier Bosch has reported preliminary financial results for the fiscal year ended 31 December 2018. According to the company’s press release today, sales dropped marginally year on year (y/y) to EUR77.9 billion despite difficult economic conditions and weak market. Sales during the financial year was affected by unfavorable exchange rates movements to the tune of EUR2.1 billion. Adjusted for exchange rate impacts, the company’s sales increased 4.3% y/y. The EBIT for the year remained unchanged at EUR5.3 billion, resulting in EBIT margin of 6.9%.