Bosch PH sees robust revenue over strong domestic demand
MANILA, Philippines—Robert Bosch Inc. (Philippines), the Philippine unit of German global supplier of auto parts and security systems, is expecting its revenue to grow this year due to a strong domestic demand.
“The strong economic growth in the Philippines is expected to continue and presents many opportunities to Bosch, bolstered by the development of infrastructure, housing and commercial projects in the country,” said Andrew Powell, Managing Director for Robert Bosch Philippines on Wednesday, July 9, in a briefing at Dusit Thani in Makati City.
Powell said he sees a “dramatic” growth to its revenues this year but refused to give estimates.
The Security Systems division of the German supplier also posted a strong growth last year and it has left them with a positive outlook for 2014.
“New legislations on the adoption of security systems and building management solutions in commercial establishments have spurred demand for innovative, robust and holistic security solutions. This development is expected to continue beyond 2014,” the firm said.
Products from the Security Systems line include intrusion alarm systems, conference systems, fire and voice alarm systems.
The Power Tools division, which supplies portable electric power tools and power tool accessories, maintained a double-digit growth in 2013.
Bosch also expects growth this year due to the acceleration of the property sector.
The Automotive Aftermarket Division continued to expand its network of workshops in 2013, with 34 Bosch Service Workshops in the Philippines. This market is expected to ride on the growth of the automotive sector.
Bosch closed its fiscal year in the Philippines with $29 million (22 million Euros), a year-on-year sales growth of 6 percent due to its expansion in Visayas and Mindanao, Powell said.
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