博世2024财年：市场承压下的战略坚守与创新探索

Core Insights - Bosch Group reported a sales revenue of €90.3 billion for the fiscal year 2024, a decline of 1.4% compared to the previous year, with an adjusted decline of 0.5% after currency effects [3] - The EBIT was €3.1 billion, with an EBIT margin of 3.5%, down from €4.8 billion and 5.3% in the previous year, primarily due to weak core markets and lower-than-expected adoption of future technologies [3] - Bosch's smart mobility business generated sales of €55.8 billion, a slight decline of 0.7%, but showed a 0.2% increase after adjusting for currency effects [3] Financial Performance - Bosch achieved a positive free cash flow of €0.9 billion, meeting the target of 1% of sales, with an equity ratio of 44.3%, a slight increase of 0.1% year-on-year [4] - The company’s working capital stood at €8.2 billion, up from €7.4 billion in 2023, indicating a solid financial position despite market challenges [4] - Bosch's R&D expenditure for 2024 was €7.8 billion, representing 8.6% of sales, while capital expenditure was €5.1 billion, reflecting ongoing investment in innovation [4] Strategic Focus - Bosch's 2030 strategy aims for an average annual sales growth of at least 6% and a profit margin of at least 7%, with a focus on becoming a top-three supplier in key markets [5] - The company established a €250 million venture capital fund to invest in startups focusing on energy efficiency and artificial intelligence, recognizing the importance of innovation in driving growth [5] - In the smart mobility sector, Bosch anticipates that electric mobility, hydrogen, and software-defined vehicles will be significant growth drivers, with 50 new projects expected to go into production by 2025 [5] Regional Insights - Bosch's sales in China reached ¥142.7 billion, a year-on-year increase of 2.7%, highlighting the importance of the Chinese market as a key growth area [4][6] - The Chinese market accounts for approximately 20% of Bosch's total sales, making it the largest market outside Germany, and serves as a critical base for innovation [6] - Bosch has developed numerous innovative solutions in electrification and intelligence in China, with plans to leverage these developments for global markets [6]