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博世称无法预判关税政策影响,没有给出今年利润率指引
Xin Lang Cai Jing·2025-05-10 03:55

Core Viewpoint - The global automotive market is entering a highly uncertain era, driven by electrification and intelligence trends, while facing significant pressure from changing international political situations and trade barriers [1][3] Group 1: Impact of Tariffs and Trade Policies - Bosch is currently unable to estimate the impact of additional tariffs imposed by the U.S. on its business before the end of the year [1] - Bosch's operations in China are minimally affected by tariff policies, with only about 2 billion RMB of product business impacted, accounting for 1.4% of Bosch China's total sales last year [1] - The recent export controls on certain rare earths by the Chinese government may have a short-term impact on Bosch globally [1] Group 2: Financial Performance and Projections - Bosch anticipates a slight global economic growth of only 2.25% to 2.75% due to increasing trade barriers, with a sales growth target of 1% to 3% for the year [3] - In FY2024, Bosch's sales are projected to be 90.3 billion euros, a decline of 1.4% from the previous fiscal year, with an EBIT margin dropping from 5.3% to 3.5% [3] - Bosch's global workforce decreased by 2.7% to approximately 417,900 employees, with further job reductions expected, particularly in Germany and Europe [3] Group 3: Market Dynamics and Competition - The global automotive production fell by 1 million units last year, with the EU and UK experiencing a 6.7% decline [4] - Bosch's smart mobility business in China grew by 4% to 116.6 billion RMB, outpacing the overall growth rate of Bosch China [4] - The Chinese automotive market is expected to maintain a growth rate of 3% to 4% in 2025, although Bosch's outlook for 2026 is cautious due to potential declines in domestic demand [4] Group 4: Strategic Investments and Future Directions - Bosch is investing in a new 250 million euro fund focused on energy efficiency and artificial intelligence [5] - The company faces challenges in balancing financial profitability with forward-looking investments in electrification and intelligence, as the transition period for electric vehicles remains uncertain [5][6] - Bosch aims to assist Chinese automotive companies in expanding internationally by leveraging its global R&D centers and overseas factories [8]