Bosch, a German supplier of technology and services, posted a 13-percent sales growth in the Philippines last year, its third straight year of double-digit expansion.
Bosch Philippines said sales reached $56 million or P2.8 billion in 2016. “With double-digit business growth for the third consecutive year, the Philippines earns a bright spot in Southeast Asia as one of the best-performing markets for Bosch. We continue to see many opportunities here,” said Andrew Powell, managing director of Bosch Philippines.
The biggest contributor to the sales growth was the power tools division amid high demand for mid-priced product range and cordless tools. It was also the best performing division when it comes to online retail— through Lazada, a known e-commerce in Asia — among Asean markets.
The automotive aftermarket division also experienced a double-digit increase in sales, making 2016 its strongest year yet. The security systems division had a moderate growth in the same year with communication systems as the major contributor.
The thermotechnology division was granted long-term contracts to offer industrial boilers for processing plants of large multinational companies in the nutrition and beverage industries.
One of the key advocacies of Bosch this year is to provide vehicle safety in the Philippines and Southeast Asia by bringing in the innovation from the automotive aftermarket division—the electronic stability program which helps maintain the driver’s control when the vehicle skids through its attached sensors.
The ESP followed the development of the anti-lock braking system which gives riding stability and maneuverability when braking.
“As a global innovator in vehicle safety, we aim to work closely with the government, industry, and the motoring public to find sustainable solutions to road accidents,” said Powell.
Powell said Bosch is expanding outside Metro Manila “to be within customers’ reach.”
“We aim to continue our expansion efforts outside of Metro Manila to be within reach of our customers in key provincial areas, and we are already looking into potential new locations,” he said.
Bosch recently extended its services to Mindanao, by opening a business hub in Cagayan De Oro City. This was the third business hub Bosch put up outside Metro Manila, after those in Cebu and Davao.
“We are growing our footprint here. Imperial Manila is not the only place in the Philippines [and] there are many other regions which we believe the provinces got their own expertise, [needs and potential],” said Powell.
Powell, who is moving to Indonesia as managing director on July 1, will be replaced by Richard Walker.
