Bosch Reports 33% Profit Decline as Economic Challenges Persist

The technology giant cites weak global growth and slower-than-expected progress in emerging sectors for falling short of its financial targets.

Bosch's operating profit dropped by one-third in 2024, falling to €3.2 billion from €4.8 billion in 2023.
Revenue decreased by 1% to €90.5 billion, with the Mobility division maintaining stable sales of €56 billion.
The company faced setbacks in key growth areas like e-mobility, hydrogen, and sustainable technologies, which incurred high investment costs but underperformed expectations.
Global workforce reductions saw Bosch cut 11,500 jobs in 2024, including 4,400 in Germany, with further layoffs possible by 2032.
Bosch aims to improve revenue and profit in 2025, with a detailed forecast expected in May when full-year results are released.