Bosch Thermotechnology publish financial results
GERMANY – Bosch Thermotechnology have released their financial results for 2015, with the German-based country declaring themselves to be very satisfied with their good business performance in 2015. The latest accounts show that the company experienced 7% growth over the year, with this growth largely driven by innovative products. The company recorded sales revenues of EUR 3.3 billion in 2015.
Uwe Glock, chairman of the Bosch Thermotechnology Division, commented on the financial results, saying “Our business showed an excellent trend in 2015. We were able to win market share in Western and Southern Europe, especially in our core markets Germany, the Netherlands, the UK, Spain and Austria.”
Mr Glock explained that this growth is primarily attributable to the good trend for wall-hung boilers, water heaters and floor-standing boilers, stating “We launched an entirely new generation of devices in 2015. They are web-enabled, intuitive and easy to operate by touchscreen and up to 30 percent quicker to install. These devices strengthen our position as the world market leader in heating systems for residential buildings and set new standards for our line of industry.”
According to the latest statistics, the more than 150,000 products sold by the company make Bosch Thermotechnology the leading supplier of smart heating solutions for greatly increased comfort, energy efficiency, operational safety and service quality. In their efforts to maintain the company’s continued growth, Bosch Thermotechnology rely on three business segments: heating systems for residential buildings, domestic water heaters and commercial and industrial heating and air-conditioning systems.
Mr Glock continues his analysis of the 2015 figures, declaring “We are making good progress in all three segments and want to outgrow the market. We will continue to pursue this course in 2016.”
Position as system supplier for commercial and industrial systems strengthened by joint venture with Midea
The company also revealed that the decision to start up a joint venture with Midea CAC, China, represented a major step forward in the company’s stated aim to become an international systems supplier. The joint venture, which was agreed in March 2015, will produce VRF (Variable Refrigerant Flow) systems for the heating and air-conditioning of commercial buildings, with production in Hefei, China, scheduled to start at the end of this month.
Mr Glock further commented on this joint venture, revealing “The joint venture will expand the technology portfolio of Bosch Thermotechnology for large-scale systems. This will open up promising growth opportunities for us in the international HVAC market.”