BSH Hausgeräte GmbH achieved a turnover of 14.8 billion euros in fiscal year 2023. Adjusted for the impact of exchange rates, this turnover was on a level with the previous year's results. As expected, after the boom triggered by the coronavirus pandemic, turnover was therefore down by seven percent in nominal terms compared with the previous year. BSH was able to increase sales and gain market share in some countries, and in the laundry care product family despite the overall downward trend in the regions.
Along with players across the entire industry, BSH management recalls the past year as "challenging". Geopolitical crises, the tense economic situation around the world, and the resulting stagnation in the global home appliance market created difficult conditions. Still, explained CEO Matthias Metz: 'In a challenging environment, BSH has once again demonstrated its resilience.'
Despite stable market shares, the Region North America (USA/Canada) saw turnover decline by 11.3 percent, primarily due to a weak demand and a highly competitive environment. The significant decrease in turnover – by 10.5 percent – in the Region Greater China could be attributed to negative exchange rate effects and the slowdown in the Chinese economy. Due to the collapse in real estate markets and the resulting impact, the number of home appliances sold also went down in the Region Europe. Higher average prices were able to limit the decline in turnover to 6.3 percent. Still, in the China and European markets, BSH has managed to maintain a strong foothold in spite of intense market competition.
In the Region Emerging Markets, which includes areas such as Eastern Europe, the Middle East, and the African continent, turnover was down only slightly, by 2.2 percent.
Confident about the future
Having successfully weathered these challenges, the team from BSH is confident about the future, wanting to continue to inspire its customers and help its retail partners to be a success. The company's future plans include wanting to expand its influence in local markets. It will also be expanding its footprint in emerging markets.
While there was a reported decline in house and apartment purchases last year, the company reported a positive performance from its product family Laundry Care and its Customer Service department, with its comprehensive service portfolio.
At Consumer Products, the product family for small home appliances experienced a decline in turnover by 7.2 percent; mostly caused by flooding-related production interruptions at its Slovenian production site in Nazarje. BSH's delivery capability has since been fully restored.
Expansion of brand portfolio
In spite of the past year's challenges, 2023 saw the BSH team expand their powerful brand portfolio. New innovative products were presented worldwide, offering tailored solutions for consumer needs. An example of the company's success was Bosch Cookit's successful achievement as test winner, as named by the German consumer organisation Stiftung Warentest at the end 2023.
BSH management says the company continues to stand on a solid economic foundation, and will continue to make targeted investments in its future. With capital expenditure of 600-million euros, around four percent of turnover, BSH is focused on implementing its product and growth strategy in all regions.
More information:
BSH Group
www.bsh-group.com