BSH: good results and new Investments in R&D

1955
BSH: Michael Schöllhorn, chief operating officer; Johannes Närger, chief financial officer, Karsten Ottenberg, chief executive officer, and Matthias Ginthum, chief markets officer
BSH: Michael Schöllhorn, chief operating officer; Johannes Närger, chief financial officer, Karsten Ottenberg, chief executive officer, and Matthias Ginthum, chief markets officer

According to the preliminary figures, published in an official press release, Bsh has increased its revenue by 8.4 percent to 11.4 billion euro in fiscal 2014. Adjusted for exchange rate effects, revenue grew by 11.1 percent. Earnings before interest and taxes rose sharply to around 700 million euro. Compared with the previous year’s figure, which was reduced by non-recurring effects, the EBIT margin improved by more than one percentage point to around six percent. The Munich-based group employs more than 53,000 people worldwide, around 16,000 of them in Germany.
In 2014 Bsh invested 373 million euro in research and development or 3.3 percent of revenue, an increase of 11.7 percent over 2013. Bsh’s ground-breaking investments included a new technology center for dishwashers at the Dillingen location. Approximately 100 million euro went toward modernizing the production lines for a new oven series at the Bretten and Traunreut production sites. This appliance series is one of the largest product projects in Bsh’s history; including the pro-rata R&D costs, it accounted for a volume of 200 million euro. Further investments are planned to keep on expanding the group’s innovativeness.