Figures for the German industrial Titan show sales rose across all its divisions by 1.6% in 2012 to total revenues of 52.3 billion (US$69.7bn) but, with the company forced to take an impairment of as much as 1bn from its solar business, earnings before tax and interest are expected to amount to just 2% of that figure, around 104.6m.
In other words, the hit from its PV business could wipe out as much as 90% of the group's 2012 profits.
A Bosch press release announcing the figures stated, "All conceivable solutions are currently being weighed in order to arrive at a reasonable solution" with respect to a strategic realignment of its PV business.
The group created a new, fourth, business division this month energy and building technology which will incorporate solar energy along with security systems and thermotechnology.
The press release also indicated that more engineering work would be carried out in China, India and Vietnam in future.
Popular content
This content is protected by copyright and may not be reused. If you want to cooperate with us and would like to reuse some of our content, please contact: editors@pv-magazine.com.
Share
By submitting this form you agree to pv magazine using your data for the purposes of publishing your comment.
Your personal data will only be disclosed or otherwise transmitted to third parties for the purposes of spam filtering or if this is necessary for technical maintenance of the website. Any other transfer to third parties will not take place unless this is justified on the basis of applicable data protection regulations or if pv magazine is legally obliged to do so.
You may revoke this consent at any time with effect for the future, in which case your personal data will be deleted immediately. Otherwise, your data will be deleted if pv magazine has processed your request or the purpose of data storage is fulfilled.
Further information on data privacy can be found in our Data Protection Policy.