BSH posts record turnover of 15.6 billion euros in 2021

MUNICH

Bosch Group’s home appliances company BSH Hausgeräte GmbH (BSH) achieved its highest-ever turnover in the 55 years of its existence for the second consecutive year in 2021.

BSH generated a turnover of 15.6 billion euros last year, a year-on-year increase of 12 percent, according to a company statement released on April 5.

“I’m delighted that, despite many challenges, we succeeded in 2021 in again posting record results. I sincerely thank our employees worldwide for their magnificent efforts and commitment,” BSH CEO Carla Kriwet was quoted as saying.

“However, we’re aware that global events will continue to impact our business in the current year. In addition to the distressing situation in Ukraine, we still haven’t fully overcome the coronavirus pandemic, supply chains remain unstable, and the semiconductor shortage is still with us.”

The company has interrupted the supply of parts for manufacturing as well as the supply of home appliances from the European Union to Russia. In addition, BSH has suspended the production at the two plants in St. Petersburg.

The resulting material shortages affect several BSH-factories in Europe and the plant in Turkey, where the home appliance manufacturer has to temporarily suspend a relevant part of its production activities.

BSH grew its turnover sharply in all regions in the 2021 fiscal year. Europe’s leading home appliance manufacturer expanded its turnover there by 9 percent last year. In particular, it recorded good growth in the major Western European markets, such as Germany, the United Kingdom, France, Spain and Italy, as well as in Northern Europe and Turkey.

BSH increased its turnover in the North America region by a strong 23 percent.

BSH posted an 18 percent year-over-year increase in turnover for the Asia-Pacific/Africa region as a whole. BSH was able to grow its turnover by 17 percent year-over-year in the Chinese market, the largest in the region. BSH remains the leading non-Chinese home appliance manufacturer in China.

BSH employed 62,400 people worldwide at the end of 2021, around 4 percent more than the year before.

The company’s brand portfolio includes eleven well-known appliance brands like Bosch, Siemens, Gaggenau and Neff as well as the ecosystem brand Home Connect and service brands like Kitchen Stories. BSH produces at 40 factories and is represented in some 50 countries.