Bosch misses growth target for 2012, lays blame on global financial slump

Bosche said in a statement it missed its 2012 target for a 3- to 5-percent increase in sales last year, with revenues edging up only 1.6 percent to 52.3 billion euros (US$69.7 billion).

Bosch, which is not listed on the stock exchange, gave no concrete profit figures, but said earnings before interest and tax (EBIT) amounted to “around 2 percent of sales.”

That would be about 1.05 billion euros, according to AFP calculations, which is less than half the year-earlier figure of 2.6 billion euros.

“The cooling global economy has slowed the pace of growth of the Bosch group,” said chairman Volkmar Denner.

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