Successful again Bosch Rexroth has grown significantly once again

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The Bosch Rexroth revenue increased by 7.5 percent compared to the previous year to around 7.6 billion euros. Growth drivers were company acquisitions, but also positive regional developments.

Bosch Rexroth, however, saw a decline in new orders due to economic weakness, particularly in its major markets, down 13.1 percent to around 6.4 billion euros. This weakens the outlook for 2024. Bosch Rexroth is also pursuing a long-term growth strategy. Therefore, investments were made in new plants and buildings in countries such as Germany, Slovenia, and Mexico, more modern production facilities, and research and development. At the end of 2023, the company therefore employed around 33,800 people worldwide. The increase of 5.5 percent compared to 2022 is mainly due to the takeover of the company Hydraforce in 2023. In 2023, the globally operating team managed the balancing act between high initial utilization and then falling order intake. This demonstrates the strength of Bosch Rexroth. Therefore, the company should be economically on the right track. At the same time, customer satisfaction increased. The company has strengthened its offering for hydraulic and factory automation through innovations, acquisitions, and partnerships and consistently further developed its global manufacturing network. The digitization for the customers and internal processes is consistently being pushed forward.

Revenue increase due to strategic acquisitions

Thus, nominal sales increased by 7.5 percent (an increase of around 530 million euros) to a total of 7.6 billion euros. Currency effects had a negative impact of about 190 million euros, so that sales increased by 10.1 percent when adjusted for exchange rates. Since 2023, Hydraforce and Elmo Motion Control have been part of Bosch Rexroth's business. Both now contribute to the higher turnover, as does the majority takeover of Kassow Robots' business in 2022. The positive development in North and South America (up 24 percent) was primarily driven by the acquisition of Hydraforce. Sales in Europe (outside of Germany) grew by 9.3 percent. In Germany by 3.4 percent. Sales in the Asia-Africa-Australia region decreased by 4.6 percent. There were very different developments in the region, according to the comment. This is because the steep drop in China - one of Bosch Rexroth's biggest markets alongside the USA and Germany - could not be offset by the other countries in the Asia region. However, in India, where Bosch Rexroth has been active for 50 years, the company achieved around 30 percent more sales than in 2022.

Economic recovery probably not before July 2024 ...

In 2023, Bosch Rexroth's order intake amounted to approximately 6.4 billion euros. This is around 950 million euros or 13.1 percent less than the previous year, when the second-highest figure in the company's history was achieved. According to information provided, the weak economy in most regions of the world and continued uncertainty have led to significantly lower new orders, particularly since the second half of 2023. Bosch Rexroth expects new orders not to recover until the second half of 2024. It is assumed that the current year will continue to be characterized by a weak economy and large uncertainties in the economic and political environment. Given these circumstances – increased costs for materials, energy, logistics and wages, as well as a significant decrease in new orders – cost pressure remains very high. Continuous countermeasures to increase competitiveness, such as higher automation of processes or the strict further development and better balancing of the global manufacturing network, are intended to help compensate for this.