The technology and services company's business thus developed better than initially expected. According to preliminary figures, earnings before interest and taxes (EBIT) amounted to around 1.9 billion euros. The EBIT margin is therefore expected to be around 2.5%. Adjusted for restructuring expenses, EBIT is expected to rise to around 3.3 billion euros or around 4.5% of sales. Total sales amounted to EUR 71.6 billion and were therefore 4.4% below the previous year after adjusting for exchange rate effects.

"Despite the effects of the pandemic, we have achieved a clearly positive result - thanks first and foremost to the extraordinary commitment of our associates," said Dr. Volkmar Denner, Chairman of the Board of Management of Robert Bosch GmbH, at the presentation of the preliminary business figures. In addition, the broad positioning by region and by business sector had once again proven its worth. "By investing in important future fields such as sustainable mobility, the Internet of Things and artificial intelligence, we are further expanding our innovation leadership." Bosch expects the combination of artificial intelligence (AI) and the Internet of Things (IoT), or AIoT for short, to offer growth opportunities in markets worth billions.

AIoT as a growth opportunity

By combining artificial intelligence and the Internet of Things, Bosch aims to pave the way for a billion-euro market in the future and create added value for customers with innovative AIoT solutions - through lower energy costs, greater convenience and safety. The knowledge generated from the connectivity about the use of its products is intended to improve their use through software updates or enable new functions and services. Bosch has laid the technical foundations in recent years: An IoT suite connects devices, sensors and gateways, while a cloud infrastructure processes data. Artificial intelligence applications can be quickly scaled using an AI platform.