B osc h

today

2 017
Bosch Group key data
Figures in millions of euros
2016 2015
Sales revenue 73,129  70,607 
percentage change from previous year   3.6    44.2 
percentage of sales revenue generated outside Germany   80    80 
Research and development cost 6,954  6,378 
as a percentage of sales revenue   9.5    9.0 
Capital expenditure 4,252  4,058 
as a percentage of depreciation   141    146 
Associates
average for the year 383,917  368,833 
at December 31 389,281  374,778 
Total assets  81,875  77,266 
Equity 36,084  34,424 
as a percentage of total assets   44    45 
EBIT 3,335  4,587 
as a percentage of sales revenue   4.6    6.5 
Profit after tax 2,374  3,537 
Unappropriated earnings
(dividend of Robert Bosch GmbH)   138    142 
 47
How to contact us / Five-year summary

Roughly 389,000 Five-year summary of the Bosch Group

associates worldwide

440
Figures in millions of euros
Around subsidiaries and 2012 1 2013 2014 2015 2016
regional companies in approximately Sales revenue 44,703 46,068 48,951 70,607 73,129
60 countries percentage of sales revenue generated
outside Germany 77 77 78 80 80
Research and development cost 2 4,442 4,543 4,959 6,378 6,954
as a percentage of sales revenue 9.9 9.9 10.1 9.0 9.5
Capital expenditure 2,714 2,539 2,585 4,058 4,252
of which in Germany 988 913 1,098 1,394 1,580
outside Germany 1,726 1,626 1,487 2,664 2,672

Bosch
as a percentage of sales revenue 6.1 5.5 5.3 5.7 5.8
as a percentage of depreciation 101 126 138 146 141

73.1
Annual average number of associates
(thousands) 273 280 286 369 384

in figures billion euros sales revenue

in 2016
of which in Germany
outside Germany
at Dec. 31
109
164
273
108
172
281
105
181
290
131
238
375
133
251
389

Total assets 52,611 55,725 61,924 77,266 81,875

Equity 26,900 27,686 29,541 34,424 36,084

as a percentage of total assets 51 50 48 45 44
EBIT 2,118 2,751 3,030 4,587 3,335
Profit after tax 2,304 1,251 2,637 3,537 2,374

7
¹ Adjusted for changes in accounting policies

Roughly billion 3.3 billion euros

² Including development work charged directly to customers

euros spent on research EBIT in 2016

and development

120
engineering locations
worldwide
 1
Contents

Bosch in figures

The Bosch Group at a glance 2

Strategy and innovation 4
We are Bosch 4
On the way to becoming an IoT company 6
Agility 8

Business sectors 10
Mobility Solutions 10
Industrial Technology 12
Consumer Goods 14
Energy and Building Technology 16

Highlights of the year 18

The business year 2016 22

Sustainability 26

Robert Bosch Stiftung 28

Bosch as an employer 30

The Bosch Group in Germany 32

The Bosch Group in Europe (outside Germany) 34

The Bosch Group outside Europe 36

Milestones38

Management 44

How to contact us / publishing details 46

Five-year summary 47
 2 3
Bosch today 2017 The Bosch Group at a glance

The Bosch Group

Bosch Group
business sectors

at a glance

Shareholders of Robert Bosch GmbH

SHAREHOLDING VOTING RIGHTS
Percentage figures Percentage figures

Robert Bosch GmbH Bosch family MOBILIT Y INDUSTRIAL

1 7 SOLUTIONS TECHNOLOGY
Bosch family Page 10 Page 12
7

Robert Bosch Robert Bosch

Stiftung GmbH  Industrietreuhand KG
92 93

THE BOSCH GROUP is a leading global supplier of
technology and services. It employs roughly 389,000
associates worldwide (as of December 31, 2016).
The company generated sales of 73.1 billion euros
in 2016. Its operations are divided into four business
sectors: Mobility Solutions, Industrial Technology,
Consumer Goods, and Energy and Building Technology.
As a leading IoT company, Bosch offers innovative
solutions for smart homes, smart cities, connected
mobility, and connected manufacturing. It uses its
expertise in sensor technology, software, and services,
as well as its own IoT cloud, to offer its customers
connected, cross-domain solutions from a single
source. The Bosch Group’s strategic objective is to
create solutions for a connected life. Bosch improves
quality of life worldwide with products and services
that are innovative and spark enthusiasm. In short,
Bosch creates technology that is “Invented for life.”
The Bosch Group comprises Robert Bosch GmbH and
its roughly 440 subsidiaries and regional companies
in some 60 countries. Including sales and service
partners, Bosch’s global manufacturing, engineering,
and sales network covers nearly every country in the
world. The basis for the company’s future growth
is its innovative strength. At 120 locations across
the globe, Bosch employs some 59,000 associates
in research and development.
The company was set up in Stuttgart in 1886 by
Robert Bosch (1861–1942) as “Workshop for Pre-
cision Mechanics and Electrical Engineering.” The
special ownership structure of Robert Bosch GmbH
CONSUMER ENERGY AND
guarantees the entrepreneurial freedom of the Bosch GOODS BUILDING
Group, making it possible for the company to plan
over the long term and to undertake significant up-
Page 14 TECHNOLOGY
front investments in the safeguarding of its future. Page 16
Ninety-two percent of the share capital of Robert
Bosch GmbH is held by Robert Bosch Stiftung GmbH,
a charitable foundation. The majority of voting rights
are held by Robert Bosch Industrietreuhand KG, Other businesses not allocated
an industrial trust. The entrepreneurial ownership to business sectors:
functions are carried out by the trust. The remaining
Bosch Healthcare Solutions GmbH
shares are held by the Bosch family and by Robert
Bosch GmbH. Bosch Software Innovations GmbH
Robert Bosch Start-up GmbH
Robert Bosch Venture Capital GmbH
 4 5
Bosch today 2017 Strategy and innovation

WWW.WEAREBOSCH.COM

We are
Bosch
Our objective – what we want to achieve

Our motivation – what drives us

Our strategic focal points – what will help us succeed

Focusing on customers | Shaping change | Striving for excellence

Our strengths – what we do well

Bosch culture | Innovation | Outstanding quality | Global presence

Our values – what we build on

Future and Responsibility and Initiative and Openness and Fairness Reliability, credibility, Diversity
result focus sustainability determination trust legality
 6 7
Bosch today 2017 Strategy and innovation

On the way to becoming

an IoT company
We operate on all three
levels of connectivity:
intelligent and connected
devices, software
platforms, and applications
and services.

Bosch will use Our expertise covers

connectivity the entire IoT Having our own IoT
value chain from cloud gives us greater
to further develop its sensors to ser vices.
speed and flexibility
traditional business. as well as enhancing
data security.

As one of the world’s leading

companies, our goal is to
We already connect more
than 5 million devices. play a major part in shaping
Our goal is to connect around
25 million devices by 2019. the internet of things (IoT).
We are continuing to
refine our Bosch IoT
Suite to offer microser-
We are opening up vices that can be used as
completely new flexible modules, and
business opening the platform
opportunities. up to third parties.

As a globally leading
supplier of MEMS For more about our strategy, read the group
sensors we have a USP.
management report in the 2016 annual report at
annual-report.bosch.com
 8 9
Bosch today 2017 Strategy and innovation

Agility
Times are changing, and with this change comes the need for new forms of
collaboration. It’s up to everyone to think and work outside the box. In other
words, it’s all about agility. The company’s many initiatives and successful
start-ups are a visible sign of its agility. To accompany the publication of our
annual report for 2016, Bosch is profiling these activities in an exclusively
online magazine.

New worlds
How Bosch develops
completely new products
and services

New perspectives
How Bosch improves
existing solutions

New connections
How Bosch creates
networks internally and The stories illustrating Bosch
externally strategy are available online
at annual-report.bosch.com
 10 11
Bosch today 2017 Business sectors

WWW.BOSCH-MOBILITY-SOLUTIONS.COM

Mobility
Solutions
Gasoline Systems
Diesel Systems
Chassis Systems Control
Electrical Drives
Starter Motors and Generators
Car Multimedia
Automotive Electronics
Automotive Aftermarket
Automotive Steering

Other businesses:
Bosch Engineering GmbH
Commercial Vehicles and Offroad Applications
eBike Systems
ETAS GmbH
Two-Wheeler and Powersports Development of sales revenue 2015–2016
Bosch Group

SALES REVENUE – SECTORAL COMPARISON

Figures in billions of euros
The Mobility Solutions business sector, one It offers its customers integrated mobility solu-
of the world’s biggest automotive suppliers, tions that allow cars to interact with other means
accounts for 60 percent of total sales. Its main of transportation such as bicycles, trains, and 41.7 43.9 6.6 6.3 17.1 17.6 5.1 5.2
areas of activity are injection technology and buses. Bosch has been responsible for impor-
powertrain peripherals for internal-combustion tant automotive innovations, such as electronic
engines, diverse solutions for powertrain elec- engine management, the ESP® anti-skid system,
trification, steering systems, safety and driver- common-rail diesel technology, and the e-axle,
assistance systems, technology for user-friendly the electric axle drive system presented at the
infotainment as well as vehicle-to-vehicle and start of 2017. The new drive integrates trans-
vehicle-to-infrastructure communication, repair- mission, electric motor, and power electronics
shop concepts, and technology and services for in one compact housing, making the powertrain
the automotive aftermarket. The sector combines significantly less expensive, more compact, and Mobility Industrial Consumer Energy and
the group’s expertise in three mobility domains more efficient. Solutions Technology Goods Building
– automation, electrification, and connectivity. Technology
 12 13
Bosch today 2017 Business sectors

WWW.BOSCHREXROTH.COM
WWW.BOSCHPACKAGING.COM

Industrial
Technology
Drive and Control Technology 1
Packaging Technology

Other businesses:
Bosch Connected Industry

1
Bosch Rexroth AG (100% Bosch-owned)

Development of sales revenue 2015–2016

Bosch Group

SALES REVENUE – REGIONAL COMPARISON

Figures in billions of euros

37.3 38.6 14.1 13.7 19.2 20.8

In 2016, the Industrial Technology business sec-
tor generated roughly 9 percent of total Bosch
Group sales. The business sector includes the
Drive and Control Technology division, a drive
and control technology specialist which is one
of the leading providers worldwide. Its portfolio
includes customized drive, control, and actuator
solutions for factory automation, plant construc-
tion and engineering, mobile machinery, and com-
mercial vehicles. Drive and Control Technology
also offers a comprehensive range of services, is
involved in large-scale international projects, and
is a leading provider in the area of connected man-
ufacturing. The Packaging Technology division is
one of the world’s leading providers of process
and packaging solutions for the pharmaceuticals,
Europe Americas Asia Pacific
foodstuffs, and confectionery industries, as well (Including other coun-
as selected segments of the beverages industry. tries; including Africa)
 14 15
Bosch today 2017 Business sectors

WWW.BOSCH-PT.COM
WWW.BSH-GROUP.COM

Consumer
Goods
Power Tools
BSH Hausgeräte GmbH

Associates
Bosch Group 2016, as per Dec. 31, 2016

BY BUSINESS SECTOR

Mobility Industrial Technology

Solutions 38,117
226,856
10%
The Consumer Goods business sector contribut- GmbH. As one of the leading global manufactur- Consumer Goods
ed some 24 percent of total Bosch Group sales in ers of household appliances, it offers the entire 58%
20% 76,131
2016. It includes the Power Tools division, one of range of modern and energy-efficient appliances,
the world’s leading suppliers of power tools and which are increasingly also web-enabled. Its
8%
power-tool accessories, as well as of measuring product portfolio ranges from washing machines 4% Energy and
and gardening tools. One of the division’s focal and tumble dryers through refrigerators and Building Technology
points is convenient, high-performance cordless freezers, stoves and ovens, and dishwashers, to 30,293
equipment, and increasingly also web-enabled small appliances such as vacuum cleaners, coffee
equipment and services. The Consumer Goods makers, and food processors. Other activities 1
business sector also includes BSH Hausgeräte Corporate functions and research
1
17,884
 16 17
Bosch today 2017 Business sectors

WWW.BOSCH-ENERGY.COM

Energy and
Building
Technology Security Systems
Thermotechnology
Bosch Global Service Solutions

Other businesses:
Robert Bosch Smart Home GmbH

Associates
Bosch Group 2016, as per Dec. 31, 2016

BY REGION

In 2016, the Energy and Building Technology busi- division, Bosch is a leading manufacturer of
ness sector generated roughly 7 percent of total energy-efficient heating products and hot-water Germany Europe 
Bosch Group sales. Its Security Systems division solutions in Europe. With a view to functions 133,974 (Excluding Germany)
26 %
offers innovative products and solutions relating such as remote diagnosis, web-enabled devices 102,680
to video surveillance, intrusion-detection, fire- are becoming increasingly important. Bosch 35 %
detection, and voice-alarm systems, access-con- Global Service Solutions is a leading international 11 %
trol and building management systems, and provider of business process outsourcing for Americas
professional audio and conference systems. complex business processes and services. Within 42,627
28 %
Bosch also operates in selected countries via Bosch, it also provides shared-service functions.
the Integrator Business operating unit (installa- Robert Bosch Smart Home GmbH combines the
tion business), which offers solutions and serv- company’s smart-home activities, and offers Asia Pacific 
ices for building security, energy efficiency, and products and services for smart homes from a (Including other countries)
building automation. With its Thermotechnology single source. 110,000
 18
Bosch today 2017
Highlights 2016
01
January 6 – Las Vegas, USA
When cars help out in the kitchen
CES Consumer Electronics Show: Bosch
presents the future of mobility and homes.
January 6 – Las Vegas, USA
CES 2016 Innovation Award
Winner in the “In-Vehicle Audio/Video” cat-
egory: a touchscreen with haptic feedback
developed by Bosch.
02
February 22 – Reutlingen, Germany
Vital sensor hubs for wearables
Bosch Sensortec launches the first generation
of sensor-hub products with optimized vital
parameter measurement.
03
March 9 – Berlin, Germany
Bosch Connected World
Bosch launches its own cloud for web-based
services.
19
Highlights 2016
04 05
April 8 – Stuttgart, Germany May 2 – Lund, Sweden
Bridge-builder for Bosch Bosch opens innovation
In his 40 years with Bosch, Tilman Todenhöfer
incubator in Sweden
used his diplomatic skills to smooth many The company’s first engineering location in
paths, building bridges within the company Scandinavia has 50 Bosch experts on board.
and for the company. He now steps down
from the supervisory board and Robert Bosch
Industrietreuhand.
06
June 9 – Lisbon, Portugal
2016 European Inventor Award
goes to the father of ESP®
The European Patent Office recognizes the
retired Bosch associate Anton van Zanten for
his life’s work.
April 9 – Changsha, China
German Foreign Minister
Steinmeier visits Bosch plant
in China
At the Bosch plant in the central Chinese
provincial capital of Changsha, the focus of
the visit is on intelligent production.
June 22 – Tel Aviv, Israel
April 13 – Abstatt, Germany
Bosch establishes research office
Fourth global meeting of Bosch in Tel Aviv
employee representatives
Focus on collaboration with scientific institu-
67 delegates, 37 countries, 17 languages: the tions and start-ups in fields such as machine
global meeting of Bosch employee represent- learning, robotics, cybersecurity, connectivity,
atives is becoming ever more international. and the internet of things.
 20 21
Bosch today 2017 Highlights 2016

07 09 10 November 10 – Waiblingen, Germany

Bosch is becoming a part of

July 18 – Stuttgart, Germany
Bosch forms an alliance
against cancer
The Robert Bosch Hospital, the Robert Bosch
Stiftung, and the Bosch Group join forces to
fight cancer, launching a number of related
initiatives.
September 21 – Walldorf and Stuttgart,
Germany
Technology partner for more
customer benefit
Bosch and SAP form a strategic partnership
for the internet of things and connected
manufacturing.
everyday healthcare
October 6 – Stuttgart, Germany
Vivatmo me is the first breath analysis device
Sensors and software bring that allows asthmatics a quick and no-fuss
Robert Bosch’s workbench from way of measuring the severity of airway
1887 into the era of connected inflammation.
manufacturing
Bosch’s new internet of things gateway makes
the benefits of connected manufacturing
available to factories using older machinery.

September 21 – Hannover, Germany

66th IAA Commercial

08
August 3 – Berlin, Germany
Bosch’s first shared mobility
platform
An e-scooter sharing service launches in
Berlin under the new Coup brand.
Vehicles 2016
Bosch presents its solutions and ideas for
the connected, automated, and electrified
commercial vehicles of tomorrow.
September 30 – Würzburg, Germany
Leadership Award Connected
World 2016
October 12 – Abstatt and Rülzheim, Germany
Bosch plans acquisition of ITK
Engineering AG
With a workforce of 800, ITK Engineering is
a leading supplier of systems and software
12
development in multiple sectors.

Vogel Business Media honors the Bosch CEO

Volkmar Denner for his exceptional dedica-
tion and achievements in the area of digital
11 December 15 – Stuttgart, Germany

connectivity. Cyber Valley: Bosch finances

November 7 – Clifton, USA, and Stuttgart,
Germany
Acquisition of Skyline
Automation
Bosch acquires specialist in building automa-
tion and strengthens its international business
with integrated services for non-residential
buildings.
an endowed chair for machine
learning
A first for Germany: Bosch joins forces with
partners from the political, industrial, and
scientific arenas to create Cyber Valley, which
will drive forward research into artificial
intelligence in Baden-Württemberg.
 22 23
Bosch today 2017 The business year 2016

The business year

2016
Development of sales revenue Development of EBIT
Bosch Group 2012–2016 Bosch Group 2012–2016

Figures in millions of euros Figures in millions of euros

44,703 46,068 48,951 70,607 73,129 2,118 2,751 3,030 4,587 3,335

12 13 14 15 16 12 13 14 15 16

In the context of an only moderate pace of growth
in the global economy, the Bosch Group grew well
in 2016, recording a number of success stories
in its various business sectors. Despite a slow
economic environment and significant negative
exchange-rate effects, the target growth range of
3 to 5 percent for sales was achieved, and even
exceeded slightly after adjusting for exchange
rates. Sales increased in 2016 by 3.6 percent
in nominal terms to 73.1 billion euros, a rise of
5.5 percent allowing for exchange-rate effects.
Performance varied by region and business sec-
tor. In regional terms, the pace of business picked
up considerably in Asia Pacific over the course of
the year. Growth in Europe was also encouraging.
With regard to the business sectors, Mobility
Solutions and Consumer Goods recorded the
strongest growth.
In many respects, result is affected by upfront
investments relating to the transformation that
lies ahead. EBIT (earnings before taxes and
before financial result) from operations totaled
4.3 billion euros in 2016, while the operating
margin was 5.8 percent. Both figures were thus
down year on year.
Above all, the upfront investments included
increased research and development cost and
increased depreciation on property, plant,
and equipment as a result of greater capital
expenditure. Research and development cost
reached approximately 7 billion euros in 2016,
compared with 6.4 billion euros in the previous
year. Research and development intensity was
9.5 percent, compared with 9.0 percent in the
previous year.
There was also considerable expenditure on
restructuring and adjustment measures. This is
because part of the upfront investments goes
into aligning the company’s traditional business
with changing requirements and markets. In
2016, Bosch disclosed EBIT of 3.3 billion euros,
compared with 4.6 billion euros in the previous
year. The main difference between this figure and
EBIT from operations is additional depreciation in
connection with the complete acquisition of the
former Automotive Steering and BSH Hausgeräte
GmbH joint ventures in 2015.
 24 25
Bosch today 2017 The business year 2016

Research and development cost  1 Research and development cost 1

Bosch Group 2012–2016 Bosch Group 2012–2016

TOTAL EXPENDITURE TOTAL EXPENDITURE

Figures in millions of euros As a percentage of sales revenue

4,442 4,543 4,959 6,378 6,954 9.9 9.9 10.1 9.0 9.5

12 13 14 15 16 12 13 14 15 16

1
Including development work charged directly to customers 1
Including development work charged directly to customers

Bosch is energetically tackling the transformation
required in light of the technological changes
brought about by the internet of things. It is
focusing on increasing connectivity in mobility
and industry, consumer goods, and building and
energy technology. Its largest business sector,
Mobility Solutions, is also facing significant chal-
lenges arising from the future electrification of the
powertrain. The Bosch Group aims to become a
leading supplier for the internet of things and of
pioneering mobility solutions.
The total number of Bosch Group associates rose
by around 14,500 to approximately 389,300 at
the end of 2016, compared with 374,800 at the
end of 2015.
In view of far-reaching technological changes in
areas such as powertrain technology and with
respect to IT expertise, providing associates
with further training is an important task. Bosch
invested around 250 million euros in continuing
professional development in 2016 alone. Occu-
pational training and continuing professional
development have traditionally been regarded
as very important at Bosch. Worldwide, over
7,300 young people completed apprenticeship
schemes at Bosch in 2016.
Outlook for 2017
While there are signs that global economic
growth will be slightly higher in 2017 than in the
previous year, the political and economic risks
are considerable. Against this backdrop, the
Bosch Group expects sales growth to be on a par
with the previous year. Yet considerable upfront
investments relating to the transformation that
lies ahead will again have to be made in 2017.
Nonetheless, it is planned to improve result
compared with 2016.
 26 27
Bosch today 2017 Sustainability

CSR.BOSCH.COM

Sustainability Progress toward the

Bosch-wide sustainability
targets in 2016
30.6%
reduction in CO2 emissions
(relative to value created
in-house) over 2007

Target:
35% by
2020
1.5%
reduction in waste (relative
For the Bosch Group, sustainability means secur- make up one-fifth of Bosch executives, and the to value created in-house)
ing the company’s long-term success while at the number of occupational accidents should fall to over 2015
same time protecting the natural resources on 1.7 per million hours worked.
which present and future generations depend. Target:
In line with its “Invented for life” ethos, Bosch Bosch reports progress toward these goals to 3.9% 6% by
2018
pursues the aim of making renewable energy even the UN Global Compact, the world’s largest reduction in water
consumption (relative to
more cost effective and mobility even safer and initiative for responsible corporate governance. value created in-house)
more efficient. On a more general level, the aim In its annual sustainability report, the company over 2015
is to develop eco-friendly, resource-conserving describes how it adheres to the international Target:
products. At Bosch, therefore, ecology is a driver principles relating to human rights, labor stand- 6% by Since 2010
2018
of innovation: last year, for example, more than
50 percent of the research and development
ards, environmental protection, and the fight
against corruption. In addition, Bosch has been
614
environmental and health
budget went into products in the “environment concerning itself with the UN’s sustainable devel- and safety audits carried
out at suppliers
and safety” portfolio, which generated some
40 percent of the company’s sales in 2016. Bosch opment goals (SDGs), which came into force in
Target:
sees huge opportunities in the areas of connec- early 2016. The UN aims to have achieved these 1,000 by
tivity, electrification, and energy efficiency. At the goals by 2030. With their mission of upholding 2020
same time, the company systematically applies human dignity, promoting progress, and keep-
sustainability management to counter risks aris- ing the environment intact, these goals are an
ing from climate change and resource scarcity. important compass for Bosch. They make it
easier to see activities from the perspective
For Bosch, endeavors to balance out economic, of their social relevance. The focus is on activ- 2.7
accidents per million
ecological, and social concerns result in four ities for good health and well-being (SDG 3), hours worked in 2016
fields of sustainability-related action: environ- sustainable cities and communities (SDG 11),
ment, products, associates, and society. Within and climate action (SDG 13). In addition, Bosch’s
Target:
these fields, the company has set five specific social commitment improves factors such as 1.7 by
targets. Relative to its own value creation, Bosch access to quality education (SDG 4) and pro- 2020

wants to reduce its waste volumes and water motes peace and justice (SDG 16). The most
consumption by 6 percent by 2018, and to cut recent example of this is the company’s support
its CO2 emissions (from their 2007 level) by for refugees in Europe.
35 percent by 2020.
15.4%
women executives
In the period between 2010 and 2020, moreover,
in 2016
it is planned to carry out a total of 1,000 envi-
ronmental and health and safety audits at our Target:
20% by
suppliers. By 2020, furthermore, women should 2020
 28 29
Bosch today 2017 Robert Bosch Stiftung

Total project grants

WWW.BOSCH-STIFTUNG.DE
2016 109.1m
1,486m
Robert Bosch
1964–2016

Figures in millions of euros Healthcare 6.7

Stiftung Science 7.2

Society 9.2

The expert commission convened by the Stiftung to

reconceptualize refugee policy formulated 99 reform Education 7.9
proposals, which were presented to and discussed
with the German federal president at a joint forum.
International relations: Americas and Asia 9.0
A further major Stiftung project is the Deutscher
Schulpreis (German school award), which is pre-
sented annually to the best schools in Germany.
Over the past ten years, the award has given rise to International relations:
a movement for educational excellence. Europe and its neighbors 14.2

Since it was established in 1964, Robert Bosch
Stiftung has been carrying on the company
founder’s public welfare endeavors. It anticipates
emergent social issues and formulates exemplary
solutions. In addition, it develops and carries out
projects of its own. The Stiftung also supports
third-party projects that fit with its own objec-
tives. It finances its work from the dividend it
receives as a shareholder in Robert Bosch GmbH.
Robert Bosch Stiftung is active in the areas of
healthcare, science, society, education, and
international relations. To be even better pre-
pared for the major challenges of our time, the
The following institutions also belong Projects by the Berlin liaison office
to the Stiftung: to promote international relations 5.7
• Robert Bosch Hospital
• Dr. Margarete Fischer-Bosch Institute for Clinical Projects of the management board 0.3
Pharmacology Projects of the communications department 0.1
• Institute for the History of Medicine of Robert
Bosch Stiftung Research at institutes 1 and the
• Deutsche Schulakademie Robert Bosch Hospital 14.1
• UWC Robert Bosch College
• Robert Bosch Centrum für Tumorerkrankungen
• International Alumni Center iac Berlin
Dependent foundations within the Stiftung:
• Otto und Edith Mühlschlegel Stiftung (aging)
• Hans-Walz-Stiftung (research into complementary
medicine)
• DVA-Stiftung (Franco-German dialogue)
• Rochus und Beatrice Mummert Stiftung Capital expenditure for the
(international promotion of young talent) Robert Bosch Hospital 27.1

Stiftung redesigned its strategy in 2016, and

now focuses its work on three main issues:
“migration, integration, and participation,” “social
cohesion in Germany and Europe,” and “viable Welcome to the school of
the year 2016! These two Robert Bosch College UWC GmbH 1.2
living environments.”
pupils attend the “Auf der Die Deutsche Schulakademie gGmbH 3.1
Süsteresch” elementary school Funding for the Otto und
The Stiftung’s work in the area of mass migration in Schüttorf, north Germany. Edith Mühlschlegel Stiftung 1.2
Their school won the German
is an example of its focus on major social issues. school award.
Dependent foundations 2.1
Dr. Margarete Fischer-Bosch Institute for Clinical Pharmacology,
1

Institute for the History of Medicine of Robert Bosch Stiftung,

Robert Bosch Centrum für Tumorerkrankungen
 30
Bosch today 2017
WWW.BOSCH-CAREER.COM
Bosch as an
employer
Why work for Bosch?
Here is why.
Make your mark
Give your job a meaning.
With solutions “Invented for life”.
At Bosch, we are committed to developing innovative, beneficial,
and fascinating products and services. Enhance with us the qua-
lity of life worldwide, and leave a lasting mark on the world.
Shape tomorrow’s world
The future offers many opportunities.
Be among the first to take advantage of them.
With regard to global megatrends and new technical capabilities,
we create solutions for a connected life. And there is much more
potential for us to tap. Create your vision of the future with us,
and witness how your ideas shape tomorrow’s world.
Find your place
You know how you can work best.
We offer you the conditions needed.
One global company, many ways of working: From start-ups to
established corporate structures, we offer a wide range of
working environments. Join in, and find the right place for you.
31
Bosch as an employer
Balance your life
Make your job match your lifestyle.
We provide you with individual support.
You know that there is more to life than just work. That’s why we
actively support you in finding a healthy balance between your
private and professional lives. Join us, and let life happen.
Walk the talk
Wherever you are –
our team spirit is with you.
Robert Bosch founded our company over 130 years ago, and
we still live by the values he embodied today. Discover a culture
that is based on respect and responsibility, and carry our values
further.
Discover new directions
Your way might change –
we will stay by your side.
We welcome change and encourage you to switch between
positions and working fields. Tell us about your goals, and let us
put them into practice.
Be yourself
Your diversity makes us special.
Enrich us with your own unique personality.
Everyone is different. We appreciate your individuality and belie-
ve that diversity is an asset for our company. Show us your way
of thinking, and let us drive great innovations together.
Pay it forward
We love our business and our environment.
Let’s save them both for future generations.
At the core of our DNA is social responsibility. That’s why, with
us, you can achieve business success and support social and
environmental projects at the same time.
 32 33
Bosch today 2017 The Bosch Group in Germany

The Bosch Group

in Germany Hamburg

Bremen

Corporate headquarters Ober-Ramstadt, Remshalden, Schopfheim,

Nauen Berlin
Gerlingen near Stuttgart Schweinfurt, Stuttgart, Viersen, Volkach,
Hannover
Waiblingen Braunschweig
Wettringen Hildesheim Salzgitter Magdeburg
Research and development locations
Abstatt, Berlin, Bretten, Bühl/Bühlertal, Manufacturing operations – Consumer Goods
Willershausen
Crailsheim, Dillingen, Ditzingen, Elchingen, Bad Neustadt, Bretten, Dillingen, Giengen, Bochum
Erbach, Giengen, Grasbrunn, Hildesheim, Leinfelden, Murrhardt, Nauen, Ravensburg, Essen Göttingen
Leipzig
Horb, Leinfelden, Leonberg, Lohr, Lollar, Sebnitz, Traunreut Viersen Ratingen
Düsseldorf Dresden
Plochingen, Regensburg, Renningen,
Sebnitz
Reutlingen, Schwäbisch Gmünd, Manufacturing operations – Energy and Cologne Breidenbach
Eibelshausen Eisenach Ichtershausen Chemnitz
Schwieberdingen, Stuttgart, Traunreut, Building Technology Wetzlar
Lollar
Arnstadt
Waiblingen, Wernau Eibelshausen, Gunzenhausen, Lollar,
Straubing, Wernau, Wettringen
Bad Neustadt
Manufacturing locations – Mobility Solutions Frankfurt am Main
Ansbach, Arnstadt, Bamberg, Berlin, Sales and service centers Hainburg
Lohr
Schweinfurt
Bietigheim, Blaichach/Immenstadt, Berlin, Bochum, Braunschweig, Cologne, Ober-Ramstadt Augsfeld Bamberg
Volkach
Breidenbach, Bremen, Bühl/Bühlertal, Ditzingen, Düsseldorf, Essen, Fellbach,
Erbach Fürth
Eisenach, Göttingen, Hildesheim, Homburg, Frankfurt am Main, Fürth, Garching, Nuremberg
Homburg
Kusterdingen, Munich, Neunkirchen, Grasbrunn, Hainburg, Hamburg, Hannover, Neunkirchen
Ketsch
Abstatt Ansbach
Crailsheim
Nuremberg, Plochingen, Pollenfeld, Ichtershausen, Karlsruhe, Leipzig, Magdeburg, Bretten Bietigheim Gunzenhausen
Karlsruhe Murrhardt Regensburg
Reutlingen, Rutesheim, Salzgitter, Schwäbisch Munich, Nuremberg, Pollenfeld, Ratingen, Pollenfeld
Schwäbisch Gmünd
Gmünd, Stuttgart, Waiblingen Stuttgart, Wetzlar, Willershausen Straubing
Bühl/Bühlertal Giengen
Dillingen
Kusterdingen Reutlingen Elchingen
Technical sales offices for automotive Bosch Software Innovations GmbH Horb Königsbrunn

original equipment Berlin, Immenstaad, Waiblingen Munich

Garching
Grasbrunn
Berlin, Braunschweig, Cologne, Frankfurt am Traunreut
Main, Munich, Waiblingen Associates in Germany: Schopfheim Ravensburg
133,974 Blaichach/Immenstadt
Immenstaad
Manufacturing operations – Industrial Schwieberdingen
Technology Rutesheim Ditzingen Fellbach/
Waiblingen
Augsfeld, Chemnitz, Crailsheim, Dresden, (as of December 31, 2016)
Leonberg
Gerlingen
This list includes locations Remshalden
Elchingen, Erbach, Fellbach, Homburg, Horb, with 100 or more associates, including the locations
Stuttgart
Renningen Plochingen
Ketsch, Königsbrunn, Lohr, Nuremberg, of non-consolidated subsidiaries. Leinfelden
Wernau
 34
Bosch today 2017
The Bosch Group
in Europe (outside
Germany)
Austria 3,619 associates
Manufacture of automotive technology and
industrial technology; engineering; sales;
locations: Hallein, Linz, Pasching, St. Michael ob
Bleiburg, Ternitz, Vienna
Belgium 1,644 associates
Manufacture of automotive technology; sales;
locations: Aartselaar, Brussels, Tienen
Bulgaria 153 associates
Sales; engineering; location: Sofia
Czech Republic 8,513 associates
Manufacture of automotive technology, industrial
technology, and heating systems; engineering;
sales; locations: Albrechtice, Brno, České
Budějovice, Jihlava, Mikulov, Prague
Denmark 715 associates
Manufacture of automotive technology; sales;
locations: Ballerup, Esbjerg
Finland 220 associates
Sales; location: Vantaa
France 7,651 associates
Manufacture of automotive technology, industrial
technology, and heating systems; engineering;
communications services; sales; locations:
Drancy, Freyming, La Ferté-Bernard, Lipsheim,
Marignier, Mondeville, Moulins, Paris, Rodez,
Saint-Ouen, St-Thégonnec, Vendôme, Vénissieux
Greece 530 associates
Manufacture of household appliances; sales;
location: Athens (Koropi)
Hungary 14,316 associates
Manufacture of automotive technology, industrial
technology, and power tools; engineering; sales;
locations: Budapest, Eger, Hatvan, Maklár,
Miskolc
Italy 5,900 associates
Manufacture of automotive technology, industrial
technology, and power tools; engineering; sales;
locations: Bari, Cernusco, Cinisello Balsamo,
Correggio, Fagagna, Milan, Modugno, Nonantola,
Offanengo, Pavullo nel Frignano, Turin, Udine,
Vezzano
Netherlands 3,837 associates
Manufacture of automotive technology,
industrial technology, heating systems, and
security systems; engineering; sales; locations:
Amsterdam, Boxtel, Breda, Deventer, Eindhoven,
Hoevelaken, Schiedam, Tilburg, Weert
Norway 208 associates
Sales; location: Ski
35
The Bosch Group in Europe (outside Germany)
Poland 5,140 associates
Manufacture of automotive technology and
household appliances; engineering; sales;
locations: Łódź, Rzeszów, Warsaw, Wrocław
Portugal 3,967 associates
Manufacture of automotive technology, heating
systems, and security systems; engineering;
communications services; sales; locations:
Aveiro, Braga, Lisbon, Ovar
Romania 4,816 associates
Manufacture of automotive technology
and industrial technology; engineering;
communications services; sales; locations: Blaj,
Bucharest, Cluj, Timişoara
Russian Federation 3,742 associates
Manufacture of automotive technology,
household appliances, and power tools;
communications services; sales; locations:
Engels, Kazan, Khimki, Moscow, Samara, St.
Petersburg
Serbia 1,039 associates
Manufacture of automotive technology; sales;
locations: Belgrade, Pećinci
Slovakia 1,096 associates
Manufacture of automotive technology and
household appliances; engineering; sales;
locations: Bernolákova; Michalovce
Slovenia 1,377 associates
Manufacture of industrial technology and
household appliances; engineering; sales;
locations: Nazarje, Škofja Loka
Spain 8,896 associates
Manufacture of automotive technology, household
appliances, and industrial technology; engineering;
communications services; sales; locations:
Aranjuez, Barcelona, Castellet, Esquíroz, La Cartuja,
Lliçà d‘Amunt, Madrid, Montañana, San Sebastián,
Santander, Treto, Vigo, Vitoria, Zaragoza
Sweden 1,496 associates
Manufacture of industrial technology and heating
systems; sales; locations: Mellansel, Stockholm,
Tranås
Switzerland 3,240 associates
Manufacture of industrial technology and power
tools; engineering; sales; locations: Beringen,
Buttikon, Frauenfeld, Geroldswil, Solothurn, St.
Niklaus
Turkey 16,670 associates
Manufacture of automotive technology, industrial
technology, and heating systems;
engineering; sales; locations: Bursa, Çerkezköy,
İstanbul, Manisa
Ukraine 369 associates
Manufacture of automotive technology; sales;
locations: Kiev, Krakovets
United Kingdom 5,290 associates
Manufacture of automotive technology, industrial
technology, power tools, and heating systems;
communications services; sales; locations:
Alfreton, Cirencester, Clay Cross, Denham,
Glenrothes, Greetland, Liverpool, Milton Keynes,
St. Neots, Stockport, Stowmarket, Worcester
(as of December 31, 2016)
This list includes countries and locations with 100
or more associates, including the locations of non-
consolidated subsidiaries.
Further companies operate in Belarus, Croatia,
Estonia, Georgia, Ireland, Latvia, Lithuania, and
Luxembourg.
 36
Bosch today 2017
The Bosch Group
outside Europe
Argentina 246 associates
Sales; location: Buenos Aires
Australia 1,276 associates
Manufacture of automotive technology and
power tools; engineering; sales; locations:
Clayton, Melbourne, Sydney
Brazil 8,507 associates
Manufacture of automotive technology,
industrial technology, heating systems,
security systems, and power tools;
engineering; communications services;
sales; locations: Alphaville, Aratú, Atibaia-
SB, Campinas, Curitiba, Itupeva, Joinville,
Pomerode, São Paulo
Canada 601 associates
Sales; locations: Mississauga, Welland
Chile 166 associates
Sales; location: Santiago de Chile
China 59,563 associates
Manufacture of automotive technology,
industrial technology, power tools, household
appliances, heating systems, and security
systems; engineering; communications
services; sales; locations: Beijing, Changchun,
Changsha, Chengdu, Chuzhou, Dongguan,
Guangzhou, Hangzhou, Hong Kong, Jinan,
Liuzhou, Nanjing, Ningbo, Qingdao, Shanghai,
Shenzhen, Suzhou, Wuhan, Wuhu, Wujin,
Wuxi, Xi‘an, Yantai, Zhuhai, Zibo
Colombia 100 associates
Sales; location: Bogotá
Costa Rica 200 associates
Communications services; location: Heredia
India 32,977 associates
Manufacture of automotive technology,
industrial technology, power tools, and
household appliances; software development;
engineering; communications services; sales;
locations: Ahmedabad, Bengaluru, Bidadi,
Bommanahalli, Chakan, Chennai, Coimbatore,
Gangaikondan, Hyderabad, Jaipur,
Koramangala, Naganathapura, Nalagarh,
Nashik, Pune, Verna
Indonesia 222 associates
Manufacture of automotive technology; sales;
location: Jakarta
Japan 6,866 associates
Manufacture of automotive technology and
industrial technology; engineering; sales;
locations: Higashi-Matsuyama, Izumozaki,
Misato, Musashi, Odawara, Osaka, Ota,
Shibuya, Shiki, Takasaki, Tochigi, Tsuchiura,
Yokohama, Yorii
Korea 2,490 associates
Manufacture of automotive technology;
engineering; sales; locations: Busan, Deagu,
Daejeon, Sejong, Yongin
37
The Bosch Group outside Europe
Malaysia 3,020 associates
Manufacture of automotive technology and
power tools; engineering; sales; locations:
Penang, Petaling Jaya
Mexico 14,288 associates
Manufacture of automotive technology and
power tools; engineering; sales; locations:
Aguascalientes, Guadalajara, Hermosillo,
Juárez, Lerma, Mexicali, Mexico City, San Luis
Potosí, Toluca
Morocco 131 associates
Sales; location: Casablanca
Peru 718 associates Manufacture of
household appliances; sales; location: Callao
Philippines 530 associates
Communications services; sales; location:
Manila
Singapore 919 associates
Sales; location: Singapore
South Africa 1,331 associates
Manufacture of automotive technology; sales;
locations: Brits, Kempton Park, Midrand
Taiwan 869 associates
Manufacture of automotive technology;
engineering; sales; locations: Pingzhen, Taipei
Thailand 1,509 associates
Manufacture of automotive technology and
industrial technology; sales; locations: Amata
City, Bangkok, Chonburi, Rayong
United Arab Emirates
128 associates
Sales; location: Dubai
United States 18,493 associates
Manufacture of automotive technology,
industrial technology, power tools, household
appliances, heating systems, and security
systems; engineering; sales; locations:
75 locations, including Albion/IN, Anderson/
SC, Bethlehem/PA, Broadview/IL, Charleston/
SC, Charlotte/NC, Fairport/NY, Farmington
Hills/MI, Florence/KY, Fort Lauderdale/
FL, Fountain Inn/SC, Irvine/CA, Kentwood/
MI, La Follette/TN, Mount Prospect/IL, New
Bern/NC, New Richmond/WI, Owatonna/
MI, Phoenix/AZ, Palo Alto/CA, Plymouth/MI,
Warren/MI
Vietnam 3,028 associates
Manufacture of automotive technology and
creation of software; engineering, sales;
location: Ho Chi Minh City
(as of December 31, 2016)
This list includes countries and locations with 100
or more associates, including the locations of non-
consolidated subsidiaries.
Further companies operate in
Bangladesh, Botswana, Cambodia, Ecuador, Egypt,
Ghana, Iran, Israel, Kazakhstan, Kenya, Mozambique,
Namibia, New Zealand, Nigeria, Panama, Sri Lanka,
Tunisia, Uruguay, Venezuela, and Zambia.
 38 39
Bosch today 2017 Milestones

Milestones
1913
At the main plant in Stuttgart, establishment
of an apprentice training department with a
dedicated workshop

Market launch of the Bosch automotive

in company history lighting system

1861
Robert Bosch is born in Albeck near Ulm on 1918
September 23
Gottlob Honold designs the new Bosch logo –
the “armature in a circle”

1886
Establishment of the company: opening 1921
of the Workshop for Precision Mechanics
The first Bosch Service repair
and Electrical Engineering in Stuttgart on
shop is opened in Hamburg
November 15

1897 1927
Start of production of Bosch injection pumps
First successful installation of the Bosch low-
and nozzles for diesel engines
voltage magneto ignition device in a motor vehicle

1928
1898
Market launch of the Forfex hair trimmer, the
First Bosch sales office outside first Bosch power tool
Germany opens in the United
Kingdom

1932
1902
First power drill and
Delivery of the first Bosch hammer
high-voltage magneto ignition
system with Bosch spark plugs
1932
Acquisition of heating systems business of
1905 Junkers & Co. GmbH in Dessau

First Bosch manufacturing site outside Market launch of the first mass-produced car
Germany opens in Paris radio in Europe

1912 1933
Start of production in Bosch’s first U.S. plant, Launch of the Bosch refrigerator
in Springfield, MA
 40 41
Bosch today 2017 Milestones

1940
Opening of the Robert Bosch Hospital
1978
Start of production of ABS,
1942 the electronically controlled antilock
Robert Bosch dies in Stuttgart on March 12
braking system

1951
Start of production of gasoline injection systems
for passenger cars
1979
1963 Start of production of the Motronic electronic
engine management system
Acquisition of Erich Wetzel Verpackungsmaschinen
GmbH, entry into packaging technology

1986
1964 Start of production of the TCS traction control
system
The not-for-profit organization Vermögens-
verwaltung Bosch (from 1969 Robert Bosch
Stiftung GmbH) acquires a majority stake in
Robert Bosch GmbH 1989
Launch of TravelPilot IDS, the first independent
1967 vehicle navigation system in Europe

Establishment of Bosch-Siemens Haus-

1991
geräte GmbH (known after 1998 as BSH
Bosch und Siemens Hausgeräte GmbH and Start of production of Motronic with controller
since 2015 as BSH Hausgeräte GmbH) area network (CAN)

1967 1995
Start of production of the Jetronic electroni- Start of large-scale production of MEMS
cally controlled gasoline injection system sensors (micro-electro-mechanical systems)

Start of production of ESP®, the world’s first

electronic stability program
1976
Production of lambda sensors for three-way
catalytic converters begins
1997
Start of production of the common-rail
high-pressure diesel injection system
 42 43
Bosch today 2017 Milestones

2012
Bosch sets up a joint venture with the
1999 Chinese manufacturer Polaris, thus entering
the e-scooter market
ZF Lenksysteme GmbH joint venture (since 2015:
Robert Bosch Automotive Steering GmbH) set up
with ZF Friedrichshafen AG 2013
Start of production of MSC motorcycle
stability control
2000
Production of the DI Motronic gasoline direct
2014
injection system
Lithium Energy and Power GmbH & Co. KG
joint venture set up to develop high-perfor-
mance rechargeable batteries for electric
2001 vehicles

Industrial leadership of Mannesmann Rexroth AG,

and its merger with the Automation Technology
division to form Bosch Rexroth AG

2003
Acquisition of Buderus AG, Wetzlar, Germany

2003 2015
Bosch opens new research campus in
Renningen, Germany
Launch of the Ixo cordless
drill/driver with lithium-ion 2015
rechargeable battery Complete takeover of the former joint ventures
BSH Hausgeräte GmbH (formerly BSH Bosch
und Siemens Hausgeräte GmbH) and Robert
2005 2010 Bosch Automotive Steering GmbH (formerly ZF
Lenksysteme GmbH or the Steering Systems
Start of production of the Night Vision driver Full parallel hybrid powertrain for passenger division)
assistance system cars goes into production

Start of production of the predictive 2016

emergency braking system
2008 Bosch launches its own cloud for web-based
services
Establishment of the Bosch Mahle Turbo Systems
GmbH & Co. KG joint venture for exhaust-gas 2011
turbochargers

Acquisition of Innovations Software Technology

Start of production of drive components for
e-bikes in Mondeville, France
2016
GmbH in Immenstaad, Germany (from January 1,
2011: Bosch Software Innovations GmbH) A Bosch e-scooter sharing service
launches in Berlin under the
Coup brand
 44 45
Bosch today 2017 Management

Dr. Stefan Hartung Dr. Volkmar Denner Dr. Dirk Hoheisel Uwe Raschke Peter Tyroller

Dr. Markus Heyn Dr. Rolf Bulander Prof. Stefan Asenkerschbaumer Christoph Kübel Dr. Werner Struth

Board of management Supervisory board

Dr. Volkmar Denner Peter Tyroller Dr. Markus Heyn Franz Fehrenbach Christiane Benner 2 Dieter Klein
Chairman Chairman Nadine Boguslawski 3 Prof. Renate Köcher
Dr. Werner Struth 1 Uwe Raschke Dr. Christof Bosch Prof. Olaf Kübler 6
Prof. Stefan Asenkerschbaumer Alfred Löckle Christian Brunkhorst Matthias Georg Madelung
Deputy chairman Dr. Rolf Bulander Dr. Stefan Hartung Deputy chairman
Prof. Elgar Fleisch 4 Kerstin Mai
Dr. Dirk Hoheisel Klaus Friedrich Dr. Wolfgang Malchow
Christoph Kübel
2
Until December 31, 2016
Hartwig Geisel Urs B. Rinderknecht
3
From January 1, 2017 Mario Gutmann 5 Tilman Todenhöfer 6
4
From April 9, 2016 Jörg Hofmann Dr. Richard Vogt
5
From July 1, 2016
6
Until April 8, 2016 Prof. Lars G. Josefsson Prof. Beatrice Weder di Mauro
1
Until March 31, 2017 7
Until June 30, 2016 Prof. Michael Kaschke 4 Hans Wolff 7
 46
Bosch today 2017

How to contact us

For press inquiries, contact Corporate

Communications, Brand Management,
and Sustainability.
Bosch Media Service:
bosch-press.com

For information on career opportunities in

the Bosch Group, contact Human Resources
Management at bosch-career.com

Companies wishing to become suppliers to

Bosch should contact Corporate Sector
Purchasing and Logistics at
purchasing.bosch.com

For an online version of the annual report,

go to: annual-report.bosch.com

A pdf version of the annual report and Bosch

today is available at:
bosch.com/boschtoday

The Bosch Group’s corporate headquarters

can be contacted at the following address
and telephone numbers:

Robert Bosch GmbH

Postfach 10 60 50
70049 Stuttgart

Phone +49 711 811- 0

contact@bosch.com
www.bosch.com

Printed in Germany

Print compensated Id-No. 1763652

www.bvdm-online.de
 47
How to contact us / Five-year summary

Five-year summary of the Bosch Group

Figures in millions of euros

2012 1 2013 2014 2015 2016
Sales revenue 44,703 46,068 48,951 70,607 73,129
percentage of sales revenue generated
outside Germany 77 77 78 80 80
Research and development cost 2 4,442 4,543 4,959 6,378 6,954
as a percentage of sales revenue 9.9 9.9 10.1 9.0 9.5
Capital expenditure 2,714 2,539 2,585 4,058 4,252
of which in Germany 988 913 1,098 1,394 1,580
outside Germany 1,726 1,626 1,487 2,664 2,672
as a percentage of sales revenue 6.1 5.5 5.3 5.7 5.8
as a percentage of depreciation 101 126 138 146 141
Annual average number of associates
(thousands) 273 280 286 369 384
of which in Germany 109 108 105 131 133
outside Germany 164 172 181 238 251
at Dec. 31 273 281 290 375 389

Total assets 52,611 55,725 61,924 77,266 81,875

Equity 26,900 27,686 29,541 34,424 36,084

as a percentage of total assets 51 50 48 45 44
EBIT 2,118 2,751 3,030 4,587 3,335
Profit after tax 2,304 1,251 2,637 3,537 2,374

¹ Adjusted for changes in accounting policies

² Including development work charged directly to customers
Robert Bosch GmbH

Postfach 10 60 50
70049 Stuttgart
Germany
www.bosch.com