Revenue in China grew by 25% to €1.5bn, thanks to the company's home appliances, which were 'tailored to the specific requirements of the region's consumers [and] enabled BSH to capture a disproportionately large slice of the general growth in the Chinese home appliance market', according to the statement. Sales in Poland grew 32%, in the US by 18% – with a 'successful strategic realignment', and both in the UK and Spain by 11%.
Although BSH said its earnings before income tax – EBIT – amounted to a 'satisfactory' €509m, its profits were lower than in 2012 due to a voluntary safety action for dishwashers, issued in August 2013 to address a possible safety issue affecting dishwashers produced between 1999 and 2005. Consumers affected were offered a free-of-charge repair or a discount on the purchase of a new appliance.
BSH CEO Dr Karsten Ottenberg said: "BSH has been an outstanding success story up to now, and we plan to continue this success moving forward. We want to continue expanding our position in the global market and grow faster – profitably – than the market as a whole."
He added that the company planned to achieve this target by developing regional expertise and investing in innovation. "Our strategy centres on the factors that have made BSH the strong and distinctive company it is today: globally three renowned brands, the experience and expertise of our people and our proven technological know-how."
BSH Home Appliances Ltd is a subsidiary company of the BSH Bosch und Siemens Hausgeräte GmbH, a group with worldwide operations, which posts annual sales in the year 2013 in excess of 10 billion euros. Founded in 1967, as a joint venture between Robert-Bosch GmbH, Stuttgart, and Siemens AG, Berlin and Munich, BSH offers major domestic appliances, consumer products and domestic technology.
Today, BSH operates 40 factories in 13 countries in Europe, the US, Latin America and Asia. Together with a global network of sales and customer service subsidiaries, the BSH family is today made up of about 70 companies in 50 countries, with a total workforce of about 50,000 people, of which more than 70 percent are employed in Europe. The group headquarters are located in Munich.
BSH Home Appliances Ltd. is responsible for all sales and marketing activities in the United Kingdom and the Republic of Ireland; its headquarters and main warehouse are based in the town of Milton Keynes. Comprising four brands (Bosch, Siemens, Neff and Gaggenau), the company offers a complete range of kitchen appliances from cooking, refrigeration, laundry and dishwashers through to small kitchen appliances, vacuum cleaners and home comfort.
