Bosch Malaysia posts highest-ever revenue in 2024
KUALA LUMPUR: Bosch Malaysia recorded its highest-ever turnover in 2024, marking a significant increase from the previous financial year.
Its total net sales jumped nearly 31% year-on-year (YoY) to €1.466 billion (RM7.26bil) in 2024, including sales from non-consolidated companies and internal deliveries to affiliated firms.
Consolidated sales to third parties in Malaysia grew 16% YoY to 188 million euros (RM929.5mil).
'Last year's double-digit growth is a clear reflection of the local market's continued trust towards the Bosch brand.
'Building on our century-long legacy in Malaysia, we continue to scale up our presence in key areas such as mobility and semiconductors while deepening our collaboration with local partners and communities,' regional president of Bosch in Southeast Asia, Vijay Ratnaparkhe said in a statement.
Bosch's strong manufacturing, research, and development base in Penang has helped drive its business growth. Penang is home to Bosch's largest high-tech engineering hub in Southeast Asia, focusing on mobility electronics, power tools, and semiconductors.
The semiconductor backend site in Penang is Bosch's most advanced test centre in Asia for automotive chips and sensors.
Last year, the facility reached a milestone with the completion of its clean room, and is on track with its ramp-up plan extending through till 2035 to systematically reinforce Bosch's global semiconductor activities.
As of Dec 31, 2024, Bosch employed over 3,700 associates and invested 42 million euros (RM209.7mil) in the country.
The Bosch Group reported group-wide sales revenue of €90.3 billion for 2024, down 1.4% YoY, and an EBIT (earnings before interest and taxes) margin from operations of 3.5%.
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