Bosch Group 2021 Sales in Hungary Up by 14%

The Bosch Group in Hungary increased its sales revenue by 14% last year to HUF 1,711 billion, István Szászi, head of Bosch Group's Hungary and Adriatic region, said at a press conference in Budapest on Thursday, the state news agency MTI reports.

He added that the Bosch Group's turnover in the Hungarian market – sales revenue from sales outside the group – rose by 15% to HUF 273 billion in 2021.

In Hungary, Bosch invested HUF 100 billion in 2021 in new investments related to manufacturing and development, focusing on future-shaping areas such as electromobility, autonomous vehicles, artificial intelligence and Industry 4.0.

He also said that last year, their number of employees in Hungary increased by 1,700 to 17,000.

István Szászi also pointed out that Bosch is actively engaged in research and development in Hungary, spending almost HUF 93 billion last year, and that the group now has around 3,200 associates working on the development of technologies that will shape the future. Within the global group, Hungary, and in particular the Budapest Development Center, is playing an increasingly important role in developments related to autonomous driving and electromobility.

He said that the new R&D center of the company is scheduled to be inaugurated in Budapest in September 2022, which will contribute to the creation of even safer sustainable mobility by embracing the knowledge and ideas of Hungarian engineers. The company will also establish an engineering development and testing site at the ZalaZone test track in Zalaegerszeg, which will contribute to the development of automotive, electromobility, self-driving cars and artificial intelligence-based technologies, István Szászi pointed out.

They are cautiously optimistic about this year's business year, expecting more than 6% revenue growth and an operating profit of 3-4% despite significantly higher energy, material and logistics costs, he said.

Bosch has been present in Hungary with its products since 1898, and the regional trading company, which was founded in 1991, has now grown into a major group. With eight independent companies, the Bosch Group is one of the largest foreign industrial employers in Hungary.

The Bosch Group employs around 402,600 associates worldwide, and in 2021 achieved sales of EUR 78.7 billion. In research and development, 76,100 associates, including 38,000 software engineers, are employed at 128 sites worldwide.