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18

Bosch today

2017 2016 1

Sales revenue 78,066 73,129

percentage change from previous year 6.8 3.6

percentage of sales revenue generated outside Germany 80 80

Research and development cost 7,264 6,911

as a percentage of sales revenue 9.3 9.5

Capital expenditure on property, plant, and equipment 4,345 4,252

as a percentage of depreciation 140 141

Associates

average for the year 402,619 383,917

at December 31 402,166 389,281

Balance-sheet total 81,870 81,875

Equity 37,552 36,084

as a percentage of balance-sheet total 46 44

EBIT 4,916 3,594

as a percentage of sales revenue 6.3 4.9

Profit after tax 3,274 2,374

Unappropriated earnings (dividend of Robert Bosch GmbH) 241 138

Bosch Group key dataFigures in millions of euros

1 Values following adjustment as a result of change in accounting method

Bosch Group key data / Bosch in figures The Bosch Group at a glance 2 Strategy and innovation 4Leading role in mobility and on the internet of things 4 Transformation 6 Business sectors 8Mobility Solutions 8Industrial Technology 10 Consumer Goods 12 Energy and Building Technology 14 Highlights 2017 16 The business year 2017 20 Sustainability 24 Robert Bosch Stiftung 26 Bosch as an employer 28 The Bosch Group in Germany 30 The Bosch Group in Europe (outside Germany) 32 The Bosch Group outside Europe 34 Milestones 36 Management 42 How to contact us / publishing details 44 Five-year summary 45

Contents

BOSCH IN FIGURES

125engineering locations

worldwide

billion euros expenditure on research and development

78.1

7.3

BOSCH IN FIGURES

Some 440 subsidiaries and regional companies in

60 countries

billion euros sales revenue in 2017

Roughly associates worldwide

402,000

78.1

7.3bi

llion

eu

ros

EB

IT

in 2

017

4.9

THE BOSCH GROUP AT A GLANCE

VOTING RIGHTS

Robert Bosch Industrietreuhand KG

93%

Bosch family7%

Robert Bosch GmbH1%

Bosch family7%

Robert Bosch Stiftung GmbH

92%

Shareholders of Robert Bosch GmbH

SHAREHOLDING

The Bosch Group is a leading global supplier of technology and services. It employs roughly 402,000 associates worldwide (as of December 31, 2017). The company generated sales of 78.1 billion euros in 2017. Its operations are divided into four business sectors: Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Tech-nology. As a leading IoT company, Bosch offers innovative solutions for smart homes, smart cities, connected mobility, and connected manufacturing. It uses its expertise in sensor technology, software, and services, as well as its own IoT cloud, to offer its customers connected, cross-domain solutions from a single source. The Bosch Group’s strategic objective is to create solutions for a connected life. Bosch improves quality of life worldwide with products and services that are innovative and spark enthusiasm. In short, Bosch creates technology that is “Invented for life.” The Bosch Group comprises Robert Bosch GmbH and its roughly 440 subsidiaries and regional companies in 60 countries. Including sales and service part-ners, Bosch’s global manufacturing, engineering, and sales network covers nearly every country in the world. The basis for the company’s future

growth is its innovative strength. At 125 loca-tions across the globe, Bosch employs roughly 64,500 associates in research and development. The company was set up in Stuttgart in 1886 by Robert Bosch (1861–1942) as “Workshop for Precision Mechanics and Electrical Engineering.” The special ownership structure of Robert Bosch GmbH guarantees the entrepreneurial freedom of the Bosch Group, making it possible for the com-pany to plan over the long term and to undertake significant upfront investments in the safeguarding of its future. Ninety-two percent of the share capital of Robert Bosch GmbH is held by Robert Bosch Stiftung GmbH, a charitable foundation. The majority of voting rights are held by Robert Bosch Industrie-treuhand KG, an industrial trust. The entrepreneurial ownership functions are carried out by the trust. The remaining shares are held by the Bosch family and by Robert Bosch GmbH.

Additional information is available online at www.bosch.com, www.iot.bosch.com, www.bosch-presse.de, www.twitter.com/BoschPresse

Bosch today 20182

CONSUMER GOODS Power Tools 6

BSH Hausgeräte GmbH

Bosch Group business sectors

MOBILITY SOLUTIONS Powertrain Solutions 1

Chassis Systems ControlElectrical DrivesStarter Motors and Generators 2

Car MultimediaAutomotive ElectronicsAutomotive AftermarketAutomotive SteeringConnected Mobility Solutions 3

Other businesses:Bosch Engineering GmbH Commercial Vehicles and Offroad Applications eBike SystemsETAS GmbHTwo-Wheeler and Powersports

INDUSTRIAL TECHNOLOGY

Drive and Control Technology 4

Packaging Technology 5

Other businesses:Bosch Connected Industry

ENERGY AND BUILDING TECHNOLOGYBuilding Technologies 7

ThermotechnologyBosch Global Service Solutions

Other businesses:Robert Bosch Smart Home GmbH

¹ Created on Jan. 1, 2018, by merging Gasoline Systems and Diesel Systems divisions² Sold Dec. 31, 2017³ New division from Jan. 1, 2018

⁴ Bosch Rexroth AG (100% Bosch-owned)⁵ Robert Bosch Packaging Technology GmbH⁶ Robert Bosch Power Tools GmbH⁷ Until Feb. 28, 2018, Security Systems

Other businesses not allocated to business sectors:Bosch Healthcare Solutions GmbH Bosch Software Innovations GmbHRobert Bosch Start-up GmbHRobert Bosch Venture Capital GmbH

3The Bosch Group at a glance

We are driving automated mobility forward. The core technologies here include artificial intelligence and mobile data transfer.

Our goal is to become one of the lead- ing suppliers in the promising areas of electrified, automated, and connected driving, and in connected mobility services.

STRATEGY AND INNOVATION

As a leading MEMS supplier, we have a high level of expertise in sensor technology. We also see ourselves playing a major part in shaping key IoT ecosystems.

Bosch wants to be the go-to partner for electric driving.

We regard our presence in diverse markets and industries as an advantage, because of the many insights we gain as a result.

Bosch today 20184

Linking all transport users and vehi-cles to the internet, along with the related services, is a key element of future mobility strategies.

For more about our strategy, read the group management report in the 2017 annual report at annual-report.bosch.com

We have our own software platform, the Bosch IoT Suite; the aim is for all our internet- enabled devices to be registered through this platform.

We aim to become a leading supplier in the mobility and internet of things (IoT) domains.

The Bosch IoT Suite is designed as an open plat-form to make it appealing to a wide range of applica-tion developers.

In the shape of the Bosch Center for Artificial Intelligence, we have our own center of competence for artificial intelligence (AI) and machine learning.

We are working to make all Bosch products web-enabled over the next few years.

We operate on all three levels of connectivity: intelli -gent and connected devices, software platform (Bosch IoT Suite), and applica-tions and services.

The Bosch IoT Cloud provides the technical infrastructure as well as platform and software offerings for mobility, connec-ted industry, and connected buildings.

5Strategy and innovation

ELECTRIFICATION

5 The digital magazine accompanying the 2017 annual report focuses on the five domains in which the company is actively shaping change, as set out in the “We are Bosch” mission state-ment – automation, connectivity, electrifica-tion, energy efficiency, and emerging markets – and explores how this is driving the company’s own transformation.

AREAS IN WHICH BOSCH IS SHAPING CHANGE

AUTOMATION

Bosch today 20186

EMERGING MARKETS

ENERGY EFFICIENCY

CONNECTIVITY

The stories illustrating Bosch strategy are now available online at annual-report.bosch.com

7Transformation

MOBILITY SOLUTIONS

The Mobility Solutions business sector, one of the world’s largest automotive suppliers, accounts for 61 percent of total Bosch Group sales. Its main areas of activity are injection technology and powertrain peripherals for internal-combustion engines, diverse solutions for powertrain electrification, steering systems, safety and driver-assistance systems, techno- logy for user-friendly infotainment as well as vehicle-to-vehicle and vehicle-to-infrastructure communication, repair-shop concepts, and technology and services for the automotive aftermarket. The sector combines the group’s expertise in three mobility domains – auto-mation, electrification, and connectivity – and offers its customers integrated mobility solutions that allow cars to interact with other

means of transportation such as bicycles, trains, and buses. At the beginning of 2018, the sector restructured itself by bringing its Gasoline Systems and Diesel Systems divisions, as well as the electromobility unit, together under one roof in a new Powertrain Solutions division. This will allow it to serve its customers with the optimum combination of technologies, since even with electrifica-tion increasing, efficient gasoline and diesel engines will continue to play a significant role for a long time to come. In addition, the newly-formed Connected Mobility Solutions division brings together the connected mobility solutions and services that had previously been spread across various units within the Mobility Solutions business sector.

WWW.BOSCH-MOBILITY-SOLUTIONS.COM

Powertrain Solutions 1

Chassis Systems ControlElectrical DrivesStarter Motors and Generators 2

Car MultimediaAutomotive ElectronicsAutomotive AftermarketAutomotive SteeringConnected Mobility Solutions 3

Other businesses:Bosch Engineering GmbH Commercial Vehicles and Offroad Applications eBike SystemsETAS GmbHTwo-Wheeler and Powersports

¹ Created on Jan. 1, 2018, by merging Gasoline Systems and Diesel Systems divisions² Sold Dec. 31, 2017³ New division from Jan. 1, 2018

Bosch today 20188

Mobility Solutions232,020

Industrial Technology

Consumer Goods

Energy and Building Technology

Mobility Solutions

1 Corporate functions and research

Other activities1

AssociatesBosch Group 2017 (year-end figure)

BY BUSINESS SECTOR

Total 402,166

Sales revenuein billions of euros

2016 –2017

43.9 47.4

57%

10%

20%

8%

5%

9Business sectors

INDUSTRIAL TECHNOLOGY

Bosch today 201810

In the 2017 business year, the Industrial Tech-nology business sector generated roughly 8 percent of total Bosch Group sales. The sector includes the Drive and Control Technology division, whose portfolio includes customized drive, control, and linear motion solutions for factory automation, plant construction and engineering, and mobile machinery. It also offers a comprehensive range of services, carries out large-scale international projects, and is a leading user and provider of connect-ed manufacturing solutions. The Packaging Technology division provides process and

packaging solutions for the pharmaceuticals and foodstuffs industries. Its range includes stand-alone machines, systems solutions, and an extensive service portfolio. In addition, the new Bosch Connected Industry business unit has been part of the Industrial Technology business sector since the start of 2018. It com-bines the software development and projects relating to Industry 4.0 that had previously been spread across different units.

WWW.BOSCHREXROTH.COMWWW.BOSCHPACKAGING.COM

Drive and Control Technology 1

Packaging Technology 2

Other businesses:Bosch Connected Industry

¹ Bosch Rexroth AG (100% Bosch-owned)² Robert Bosch Packaging Technology GmbH

11

Mobility SolutionsIndustrial Technology39,026

Consumer Goods

Energy and Building Technology

Industrial Technology

6.3 6.8

57%

10%

20%

8%

5%

1 Corporate functions and research

Other activities 1

AssociatesBosch Group 2017 (year-end figure)

BY BUSINESS SECTOR

Total 402,166

Business sectors

Sales revenuein billions of euros

2016 –2017

CONSUMER GOODS

The Consumer Goods business sector contrib-uted some 24 percent of total Bosch Group sales in 2017. Its Power Tools division is a supplier of power tools, power-tool accesso-ries, and measuring technology. In addition to power tools such as hammer drills, cordless screwdrivers, and jigsaws, its comprehensive product portfolio also includes gardening equipment such as lawnmowers, hedge trimmers, and high-pressure cleaners. One of the division’s focal points is convenient, high-performance cordless tools, and increas-

ingly also web-enabled tools and services. The Consumer Goods business sector also includes BSH Hausgeräte GmbH, which offers a broad range of modern, energy-efficient, and increasingly connected household appli-ances. Its product portfolio ranges from washing machines and tumble dryers through refrigerators and freezers, stoves and ovens, and dishwashers, to small appliances such as vacuum cleaners, coffee makers, and food processors.

WWW.BOSCH-PT.COMWWW.BSH-GROUP.COM

Power Tools 1

BSH Hausgeräte GmbH

1 Robert Bosch Power Tools GmbH

Bosch today 201812

Other activities 1

57%20%

8%

5%

Industrial Technology

Consumer Goods80,234

Energy and Building Technology

Consumer Goods

17.6 18.5Mobility Solutions

1 Including other activities

10%

1 Corporate functions and research

AssociatesBosch Group 2017 (year-end figure)

BY BUSINESS SECTOR

Total 402,166

Sales revenue1

in billions of euros

2016–2017

13Business sectors

ENERGY AND BUILDING TECHNOLOGY

Building Technologies 1

ThermotechnologyBosch Global Service Solutions

Other businesses:Robert Bosch Smart Home GmbH

In 2017, the Energy and Building Technology business sector generated roughly 7 percent of total Bosch Group sales. Its Building Technologies division (formerly Security Systems) has two areas of business: the global product business for innovative secu-rity and communications solutions, and the regional integrator business. The latter offers solutions and services for building security, energy efficiency, and building automation in selected countries. Both units focus on commercial applications. The product portfolio encompasses video-surveillance, intrusion-detection, and voice-alarm systems, access-control and software management

systems, as well as professional audio, conference, and fire-detection systems. The Thermotechnology division supplies energy- efficient heating products and hot-water solutions, primarily in Europe. With a view to functions such as remote diagnosis, web-enabled devices are becoming increasingly important. The Bosch Global Service Solu-tions division offers outsourcing for business processes and services. Within Bosch, it also provides shared-service functions. Robert Bosch Smart Home GmbH brings Bosch’s smart-home products and services together under one roof, including the associated systems and software expertise.

WWW.BOSCH-ENERGY.COM

1 Until Feb. 28, 2018, Security Systems

Bosch today 201814

57%

10%

20%

8%

5%

Industrial Technology

Consumer Goods

Energy and Building Technology31,690

Energy and Building

Technology

5.2 5.4Mobility Solutions

Other activities 1

1 Corporate functions and research

AssociatesBosch Group 2017 (year-end figure)

BY BUSINESS SECTOR

Total 402,166

Sales revenuein billions of euros

2016–2017

15Business sectors

Jan. 7 – Las Vegas, USA

CES® 2017 Innovation Awards

At CES® 2017, four awards go to three smart Bosch products: a digitally connected water boiler and two innovative solutions for motorcycles.

HIGHLIGHTS 2017

01

Jan. 9 – Detroit, USA

World premiere for e-axle

At the North American International Auto Show (NAIAS) in Detroit, Bosch unveils a new electric drive system.

Jan. 27 – Bengaluru, India; Palo Alto, USA; Renningen, Germany

Artificial intelligence rounds out IoT expertise

The new year sees the new Bosch Center for Artificial Intelligence (BCAI) begin its work.

Feb. 16 – Munich and Stuttgart, Germany

Bosch and IBM launch alliance for IoT and Industry 4.0

The two companies will collaborate to make automatic updates of IoT devices available for their customers.

Feb. 7 – Stuttgart, Germany

Bosch is shaping the transformation of the powertrain

Bosch announces it will be pooling all its power- train activities in a new Powertrain Solutions division from January 1, 2018, including a unit dedicated to electromobility.

02

Mar. 15 – Berlin, Germany

Bosch ConnectedWorld 2017

Bosch is in the midst of a transformation into an IoT company. Among other things, it premieres an onboard computer for automated cars.

Mar. 28 – Paris, France

Bridge into the future

The Bosch headquarters in Paris is reopened as an innovation campus.

03

Bosch today 201816

04

Mar. 28 – Leinfelden, Germany

Working in cross-functional “purpose teams”

To ensure the best possible focus on users, the Power Tools division is realigning its entire organization. Experts from completely different disciplines – such as engineering, marketing, and logistics – now work together in smaller units.

Apr. 13 – Changzhou, China

New plant in Wujin

In the Wujin industrial zone in Changzhou, Bosch will invest some 100 million euros by 2019 in a facility to manufacture components for automated driving and connectivity.

Apr. 11 – Stuttgart-Feuerbach, Germany

Dialogue about the future of work

Works council representatives from 21 countries attend the 20th meeting of the Europa Commit-tee (EC) in Feuerbach, which features an open, in-depth dialogue between European works council members and the board of management.

Apr. 4 – Stuttgart, Germany

Bosch and Daimler to collaborate on fully automated, driverless cars

The aim of this alliance is to develop a produc-tion-ready system for driverless cars on city streets, and to launch it at the start of the next decade.

May 18 – Paris, France

E-scooters arrive in Paris

Coup, the Bosch shared mobility platform, starts operations in Paris. Six hundred e-scooters will be available for rent in the French capital.

May 18 – Shanghai, China

Bosch agrees alliance with Alibaba

In its marketing operations in China, Bosch is turning increasingly to e-commerce, signing a strategic alliance agreement with the Alibaba Group, the biggest Chinese internet retailer.

05

06June 19 – Stuttgart and Dresden, Germany

New wafer fab in Dresden

With a total investment of roughly one billion euros, the new wafer fab is the biggest single investment in Bosch’s more than 130-year his-tory. Following a rollout phase, manufacturing operations will likely start at the end of 2021.

June 22 – Stuttgart and Reutlingen, Germany

Bosch launches ABS for pedelec riders

Already a leading supplier of motorcycle safety technology, Bosch presents the first produc-tion-ready antilock braking system for e-bikes.

Highlights 201717

07

09

08

July 12 – Stuttgart-Feuerbach, Germany

Standing ovation

At a colloquium marking the retirement of Alfred Löckle, who was for many years the company’s most senior employee representative, the guests thank him for his work for Bosch.

Aug. 1 – Nanjing, China and Stuttgart, Germany

Breaking ground in Nanjing

Bosch plans to build Asia Pacific’s first iBooster plant. On a surface covering some 20,000 square meters, local manufacturing of this brake sys- tem is to start in 2019.

Sept. 3 – Berlin and Munich, Germany

50 years of BSH

BSH Hausgeräte GmbH celebrates its 50th anniversary. With its products and services, the company has helped shape both technolo-gical and social developments.

Sept. 14 – Frankfurt, Germany

IAA: Chancellor Merkel visits Bosch booth

Dr. Volkmar Denner, chairman of the board of management, shows her Bosch’s new e-axle. This compact drive unit for electric cars comprises a motor, power electronics, and transmission.

Sept. 19 – Santa Clara, USA, and Stuttgart, Germany

Alliance to use blockchain technology

A total of some 20 established companies and start-ups join together to set up the Trusted IoT Alliance for more transparency, security, and efficiency on the internet of things.

Bosch today 201818

12

11

10Oct. 18 – Stuttgart-Feuerbach, Germany

Bosch opens IT campus

Roughly 2,000 of the 7,500 corporate IT associates will work on the modern new campus, which will further accelerate the transformation of Bosch into an IoT company.

Oct. 25 – Berlin and Stuttgart, Germany

Accolade for Bosch logistics operations

In presenting its 2017 German Logistics Award, the German Federal Logistics Association rec-ognizes the comprehensive approach adopted by Bosch in reorganizing its global logistics operations. Dec. 4 – Rayong, Thailand

First smart factory in Thailand

In light of rising demand in Thailand, Bosch opens a new injection-technology plant. Construction took 18 months.

Nov. 13 – Hannover and Stuttgart, Germany

Bosch moves into agricultural-technology market

At the 2017 Agritechnica trade fair, Bosch presents its ideas and solutions for the future of agriculture. The company is transferring automotive technology to the farm sector. Connectivity is a key to better yields.

Nov. 21 – Stuttgart, Germany

Brake disc 2.0

Bosch’s new iDisc generates 90 percent less brake dust.

Oct. 10 – Stuttgart, Germany

New Bosch hybrid battery

Bosch presents a new 48-volt battery for hy-brids. Its standardized design makes it easier for established automakers and start-ups to move into hybridization.

19Highlights 2017

Development of sales revenue and EBIT Bosch Group, 2013–2017

SALES REVENUEin millions of euros

48,95146,068

13 14

70,607

15

73,129

16

78,066

17

THE BUSINESS YEAR 2017

The Bosch Group took advantage of the improvement in the economic environment in 2017 and increased its sales to 78.1 billion euros. This represents year-on-year growth of 6.8 percent in nominal terms and of 8.4 percent after adjusting for exchange-rate effects. Growth was thus significantly higher than the target range of 3 to 5 percent forecast for 2017, despite considerable negative effects from exchange rates.

Earnings increased encouragingly as well, despite the significant upfront investments needed for innovations and new business fields as well as the costs incurred through the realignment of existing areas. As a result of positive business development, Bosch generated earnings before interest and taxes (EBIT) of 4.9 billion euros, compared with 3.6 billion euros in the previous year.

Bosch today 201820

EBITin millions of euros

3,0302,751

13 14

4,587

15

3,594

161

4,916

17

1 Adjusted figure

All business sectors contributed to the signifi-cant rise in sales. The Mobility Solutions and Industrial Technology business sectors grew the fastest. However, there were no apprecia-ble year-on-year shifts in the business sectors’ shares in overall Bosch Group sales.

In contrast, performance by region varied greatly. The strongest revenue growth was seen in Asia Pacific. In Europe, too, growth was encouraging in 2017. While Bosch was impacted by weakness in the automotive sec-tor in North America, the company benefited from the economic recovery in South America, following the challenges of previous years.

21The business year 2017

1 Including development work charged directly to customers2 Adjusted figure

Research and development cost 1Bosch Group, 2013–2017

TOTAL EXPENDITUREin millions of euros

4,543 4,959 6,378 6,911 7,264

13 14 15 162 17

Upfront investments in promising areas

Research and development cost remained at a high level. However, it increased at a slower rate than sales. It came to approximately 7.3 billion euros in 2017, compared with 6.9 billion euros the previous year. Research and development intensity was thus 9.3 percent, which is lower than the previous year’s 9.5 percent.

The increase in research and development cost is primarily attributable to the Mobility Solutions business sector. Key areas include upfront investments in driver assistance sys-tems, including automated driving, display and infotainment systems, and sensors.

Bosch today 201822

Germany137,701

Europe(Excluding Germany)

107,339

Americas44,309

Asia Pacific (Including other countries,also in Africa)

112,817

AssociatesBosch Group 2017 (year-end figure)

BY REGION

Total 402,166

27%

11%

28%

34%

For the first time, more than 400,000 associates

The total number of Bosch Group associates rose on balance by around 12,900 to approxi-mately 402,200 at the end of 2017, compared with 389,300 at the end of 2016. After allowing for personnel turnover, new hires increased the total headcount by around 16,500. In 2017, however, the effects resulting from divest-ments outweighed those from acquisitions. As a result of consolidation effects, headcount fell by around 3,600 associates. The fall pri-marily concerned the Mobility Solutions busi-ness sector, especially due to the divestment of the Starter Motors and Generators division and its roughly 7,500 associates.

In regional terms, the workforce structure remained largely unchanged in 2017 com-pared to 2016. It was only within Europe that there was a slight shift. While the proportion of associates in Germany went down by one percentage point, Europe excluding Germany saw its proportion rise by the same amount. This was also due to the divestment of the Starter Motors and Generators division.

23The business year 2017

The “Go Green Initiative” for energy efficiency

SUSTAINABILITYCSR.BOSCH.COM

For the Bosch Group, sustainability means securing the company’s long-term success while at the same time protecting the natural environment on which present and future generations depend. The company’s “Invented for life” ethos not only applies to its core busi-ness, but also to the subject of sustainability: it wants its products and services to improve quality of life for people around the world and to conserve natural resources. In other words, Bosch aims to make renewable sources of energy more efficient, mobility emissions- and accident-free, and, in all its fields of business, to develop eco-friendly products.

It regards a green mindset as an engine of innovation and a pillar of the company’s success. Bosch sees huge opportunities in the areas of connectivity, electrification, and energy efficiency – and plans its capital expenditure accordingly. Of the 2017 R&D budget of 7.3 billion euros, 54 percent went into products in the environmental and safety portfolio. The company also applies sustain- ability management to counter the risks arising from climate change and resource scarcity. A commitment to addressing social issues is another aspect of the Bosch defini-tion of sustainability. This is because Bosch

Bosch today 201824

regards bridging the gap between rich and poor as one of the biggest challenges modern society faces. As one response to this, Bosch uses its presence in emerging and develop-ing countries to create jobs and strengthen local economies, as well as to improve global access to education. The company’s four local foundations in Brazil, China, India, and the United States spent just under 9 million euros on regional aid projects in 2017. On the basis of its endeavors to bring eco-nomic, ecological, and social concerns into balance, Bosch has identified four fields of sustainability-related action: environment, products, associates, and society. Within these fields, the company has set five specific targets in the areas of resource conservation, supplier audits, equality of opportunity, and occupational health and safety. In 2017, Bosch again achieved significant improve-ments here.

Progress toward the Bosch-wide sustainability targets in 2017

32.8% reduction in CO2 emissions (relative to value created

in-house) over 2007

target: 35% by

2020 2.7% reduction in waste (relative to value created in-house)

year on year

target: 2% per annum

2.3 accidents per million hours

worked

16.1%women

executives

740 environmental and

occupational health and safety audits at suppliers

since 2010

target: 1,000 by

2020

target: 20% by

2020

target: 1.7 by 2020

6.5% reduction in water

consumption (relative to value created in-house)

year on year

target: 2% per annum

25Sustainability

Since it was established in 1964, Robert Bosch Stiftung GmbH has been carrying on the company founder’s public welfare endeavors. It devotes itself to social chal-lenges and promotes projects that develop innovative and exemplary solutions for the future. The Stiftung finances its work from the dividend it receives as a shareholder in Robert Bosch GmbH. The Robert Bosch Stiftung is active in the areas of healthcare, science, society, educa-tion, and international relations. To be able to better tackle major social challenges, the Stiftung redesigned its strategy in recent years, and now focuses its work on three main issues: “migration, integration, and par-ticipation,” “social cohesion in Germany and Europe,” and “viable living environments.”

It supports around 700 projects each year. Given the increasing number of conflicts worldwide, the Stiftung has been focusing explicitly on peace for some years now. In 2017, it initiated the “Truth, Justice, and Remembrance” global community forum. This event brought together 120 peace activ-ists from some 40 countries who are working to come to terms with violent conflicts and regimes. Supporting better education is also one of the Robert Bosch Stiftung’s focal points. One beacon project in Germany is the German School Prize, a competition that highlights exemplary schools, and has given rise to a movement for educational excellence in recent years.

ROBERT BOSCH STIFTUNG

WWW.BOSCH-STIFTUNG.COM

How can we best handle conflicts to prevent new outbreaks of violence? Views on this subject were exchanged by 120 peace activists from more than 40 countries at the “Truth, Justice, and Remembrance” global community forum, an initiative of the Robert Bosch Stiftung.

Bosch today 201826

TOTAL PROJECT GRANTS 2017Figures in millions of euros

100.5

The following institutions also belong to the Stiftung:• Robert Bosch Hospital• Dr. Margarete Fischer-Bosch

Institute for Clinical Pharmacology• Institute for the History of Medicine

of the Robert Bosch Stiftung• Die Deutsche Schulakademie• UWC Robert Bosch College• Robert Bosch Centrum für

Tumorerkrankungen• International Alumni Center iac Berlin

Dependent foundations within the Stiftung:• Otto und Edith Mühlschlegel

Stiftung (aging)• Hans-Walz-Stiftung (research

into complementary medicine)• DVA-Stiftung (Franco-German dialogue)

7.4 Healthcare

7.4Science

8.6 Society

9.1 Education

8.6International relations: Americas and Asia

14.4International relations: Europe and its neighbors

0.8 International Alumni Center gGmbH

1.4 Robert Bosch College UWC GmbH

2.5 Die Deutsche Schulakademie gGmbH

10.0Expenditure on the Robert Bosch Hospital

20.9Research at institutes and the Robert Bosch Hospital

5.8 Projects by the Berlin liaison office to promote international relations

0.8 Projects of the management board

0.1 Projects of the communications department

1.3 Dependent foundations

1.2 Funds transferred to Otto und Edith Mühlschlegel Stiftung

Robert Bosch Stiftung27

BOSCH AS AN EMPLOYER

WWW.BOSCH-CAREER.COM

Make your markGive your job a meaning. With solutions “Invented for life.”

At Bosch, we are committed to developing innovative, beneficial, and fascinating products and services. Enhance with us the quality of life worldwide, and leave a lasting mark on the world.

Shape tomorrow’s world The future offers many opportunities. Be among the first to take advantage of them.

With regard to global megatrends and new technical capabili-ties, we create solutions for a connected life. And there is much more potential for us to tap. Create your vision of the future with us, and witness how your ideas shape tomorrow’s world.

Find your place You know how you can work best. We offer you the conditions needed.

One global company, many ways of working: from start-ups to established corporate structures, we offer a wide range of working environments. Join in, and find the right place for you.

Welcome to a place where your ideas lead to something big. Welcome to Bosch.

What we stand for For more than 130 years, we have offered our associates around the world the opportunity to shape the future with a leading global provider of technology and services. Beneficial innovations that improve the quality of people’s lives, and save resources, drive our work. We encourage our associates to be individuals and see diversity as an asset. Our company enables its associates to strike a healthy balance between professional and personal aims, as we see this as a decisive means of promoting creativity and job satisfaction. This balance also shapes the foundation of our associates’ outstanding performance. Lifelong learning and a regular change of perspective are firmly anchored in our leadership culture. Our areas of activity are every bit as diverse as our locations around the world.

Bosch today 201828

Balance your lifeMake your job match your lifestyle. We provide you with individual support.

You know that there is more to life than just work. That’s why we actively support you in finding a healthy balance between your private and professional lives. Join us, and let life happen.

Walk the talk Wherever you are – our team spirit is with you.

Robert Bosch founded our company over 130 years ago, and we still live by the values he embodied today. Discover a cul-ture that is based on respect and responsibility, and carry our values further.

Discover new directionsYour way might change – we will stay by your side.

We welcome change and encourage you to switch between positions and working fields. Tell us about your goals, and let us put them into practice.

Be yourselfYour diversity makes us special. Enrich us with your own unique personality.

Everyone is different. We appreciate your individuality and believe that diversity is an asset for our company. Show us your way of thinking, and let us drive great innovations together.

Pay it forwardWe love our business and our environment. Let’s save them both for future generations.

At the core of our DNA is social responsibility. That’s why, with us, you can achieve business success and support social and environmental projects at the same time.

Let’s be remarkable.

29Bosch as an employer

THE BOSCH GROUP IN GERMANY

Corporate headquartersGerlingen near Stuttgart

Research and development locationsAbstatt, Berlin, Bretten, Bühl/Bühlertal, Crailsheim, Dillingen, Ditzingen, Elchingen, Erbach, Giengen, Grasbrunn, Hildesheim, Horb, Küsterdingen, Leinfelden, Leonberg, Lohr, Lollar, Planegg-Martinsried, Plochingen, Regensburg, Renningen, Reutlingen, Rülzheim, Schwäbisch Gmünd, Schwieberdingen, Stuttgart, Traunreut, Waiblingen, Wernau

Manufacturing locations – Mobility SolutionsAnsbach, Arnstadt, Bamberg, Berlin, Bietigheim, Blaichach/Immenstadt, Breidenbach, Bremen, Bühl/Bühlertal, Eisenach, Göttingen, Hildesheim, Homburg, Kusterdingen, Munich, Nuremberg, Plochingen, Pollenfeld, Reutlingen, Rutesheim, Salzgitter, Schwäbisch Gmünd, Stuttgart, Waiblingen

Technical sales offices for automotive original equipmentBerlin, Braunschweig, Cologne, Frankfurt am Main, Munich, Waiblingen

Manufacturing operations – Industrial TechnologyAugsfeld, Chemnitz, Crailsheim, Dresden, Elchingen, Erbach, Fellbach, Homburg, Horb, Ketsch, Königsbrunn, Lohr, Murrhardt,

Nuremberg, Ober-Ramstadt, Remshalden, Schopfheim, Schweinfurt, Stuttgart, Viersen, Volkach, Waiblingen

Manufacturing operations – Consumer Goods Bad Neustadt, Bretten, Dillingen, Giengen, Leinfelden, Murrhardt, Nauen, Ravensburg, Sebnitz, Traunreut

Manufacturing operations – Energy and Building TechnologyEibelshausen, Gunzenhausen, Lollar, Straubing, Wernau, Wettringen

Sales and service centersBerlin, Bochum, Böblingen, Braunschweig, Chemnitz, Cologne, Ditzingen, Dresden, Düsseldorf, Essen, Fellbach, Frankfurt am Main, Fürth, Garching, Grasbrunn, Hainburg, Hamburg, Hannover, Holzkirchen, Ichtershausen, Karlsruhe, Leipzig, Magdeburg, Munich, Nuremberg, Pollenfeld, Ratingen, Stuttgart, Wetzlar, Willershausen

Bosch Software Innovations GmbHBerlin, Immenstaad, Waiblingen

Associates in Germany: 137,701

(as of December 31, 2017)This list includes locations with 100 or more associates, including the locations of non-consolidated subsidiaries.

Bosch today 201830

Bretten Bietigheim

Immenstaad

Rülzheim

Böblingen

Planegg-MartinsriedHolzkirchen

Bühl/Bühlertal

Hamburg

Bremen

Wettringen

Hannover

HildesheimBraunschweig

Salzgitter Magdeburg

Berlin

Willershausen

GöttingenLeipzig

Sebnitz

Dresden

Chemnitz

EssenBochum

Viersen RatingenDüsseldorf

CologneEibelshausen

Wetzlar

Breidenbach

LollarEisenach

ArnstadtIchtershausen

Bad NeustadtFrankfurt am Main

Ober-RamstadtLohr

Hainburg Schweinfurt

BambergAugsfeldVolkach

FürthNuremberg

Ansbach

GunzenhausenCrailsheim

Murrhardt

Erbach

HomburgKetsch

Abstatt

HorbReutlingen

Schwäbisch Gmünd

Pollenfeld Regensburg

StraubingGiengen

DillingenElchingen

Munich GrasbrunnTraunreut

Garching

Königsbrunn

Blaichach/Immenstadt

LeinfeldenPlochingen

Wernau

Stuttgart RemshaldenLeonberg

Rutesheim Ditzingen Fellbach/Waiblingen

Schwieberdingen

Schopfheim

Kusterdingen

Nauen

Renningen

Gerlingen

Ravensburg

Karlsruhe

31The Bosch Group in Germany

THE BOSCH GROUP IN EUROPE OUTSIDE GERMANYAustria 3,583 associatesManufacture of automotive technology and industrial technology; engineering; sales; locations: Hallein, Linz, Pasching, St. Michael ob Bleiburg, Ternitz, Vienna

Belgium 1,547 associates Manufacture of automotive technology; sales; locations: Brussels, Mechelen, Tienen

Bulgaria 190 associatesSales; engineering; location: Sofia

Czech Republic 8,654 associatesManufacture of automotive technology, industrial technology, power tools, and heating systems; engineering; sales; loca-tions: Albrechtice, Brno, České Budějovice, Jihlava, Prague

Denmark 721 associatesSales; locations: Ballerup, Esbjerg

Finland 207 associatesSales; location: Vantaa

France 7,568 associatesManufacture of automotive technology, industrial technology, household appli-ances, and heating systems; engineering; communications services; sales; locations: Drancy, Freyming, Lipsheim, Marignier, Mondeville, Moulins, Paris, Rodez, Saint-Ouen, St-Thégonnec, Vendôme, Vénissieux

Greece 492 associatesManufacture of household appliances; sales; location: Athens (Koropi) Hungary 13,589 associatesManufacture of automotive technology and power tools; engineering; sales; locations: Budapest, Eger, Hatvan, Maklár, Miskolc

Italy 6,288 associatesManufacture of automotive technology, industrial technology, and power tools; engineering; sales; locations: Bari, Cernusco, Cinisello Balsamo, Correggio, Fagagna, Milan, Modugno, Nonantola, Offanengo, Pavullo nel Frignano, Turin, Udine, Vezzano, Villasanta

Netherlands 3,783 associates Manufacture of automotive technology, industrial technology, and heating systems; engineering; sales; locations: Amsterdam, Boxtel, Breda, Deventer, Eindhoven, Hoevelaken, Schiedam, Tilburg, Weert

Norway 193 associatesSales; location: Ski

Poland 6,394 associatesManufacture of automotive technology, power tools, and household appliances; engineering; sales; locations: Galeniów, Łódź, Mirków, Rzeszów, Warsaw, Wrocław

Bosch today 201832

Portugal 4,449 associatesManufacture of automotive technology, heating systems, and security systems; engineering; communications services; sales; locations: Aveiro, Braga, Lisbon, Ovar

Romania 6,530 associatesManufacture of automotive technology and industrial technology; engineering; communications services; sales; locations: Blaj, Bucharest, Cluj, Timişoara

Russian Federation 3,856 associatesManufacture of automotive technology, household appliances, and power tools; communications services; engineering; sales; locations: Engels, Kazan, Khimki, Moscow, Samara, St. Petersburg

Serbia 1,175 associatesManufacture of automotive technology; sales; locations: Belgrade, Pećinci

Slovakia 1,132 associatesManufacture of automotive technology and household appliances; engineering; sales; locations: Bernolákova, Michalovce

Slovenia 1,463 associatesManufacture of industrial technology and household appliances; engineering; sales; locations: Nazarje, Škofja Loka Spain 8,818 associatesManufacture of automotive technology, household appliances, and industrial technology; engineering; communica-tions services; sales; locations: Aranjuez, Barcelona, Castellet, Esquíroz, La Cartuja, Lliçà d’Amunt, Madrid, Montañana, San Sebastián, Santander, Vigo, Vitoria, Zaragoza

Sweden 1,572 associatesManufacture of industrial technology and heating systems; engineering; sales; locations: Mellansel, Stockholm, Tranås

Switzerland 3,049 associatesManufacture of industrial technology and power tools; engineering; sales; locations: Beringen, Buttikon, Frauenfeld, Geroldswil, Solothurn, St. Niklaus

Turkey 18,240 associates Manufacture of automotive technology, industrial technology, household appli-ances, and heating systems; engineering; sales; locations: Bursa, Çerkezköy, İstanbul, Manisa

Ukraine 366 associatesManufacture of automotive technology; sales; locations: Kiev, Krakovets

United Kingdom 5,195 associatesManufacture of industrial technology, power tools, and heating systems; communica-tions services; engineering; sales; locations: Alfreton, Cirencester, Clay Cross, Denham, Glenrothes, Greetland, Liverpool, Milton Keynes, St. Neots, Stockport, Stowmarket, Worcester

(as of December 31, 2017)This list includes countries and locations with 100 or more associates, including the locations of non-conso-lidated subsidiaries.

Further companies operate in Belarus, Croatia, Estonia, Georgia, Ireland, Latvia, Lithuania, and Luxembourg.

33The Bosch Group in Europe (outside Germany)

THE BOSCH GROUP OUTSIDE EUROPE

Argentina 242 associatesSales; location: Buenos Aires

Australia 1,287 associatesManufacture of automotive technology and industrial technology; engineering; sales; locations: Clayton, Sydney

Brazil 8,329 associatesManufacture of automotive technology, industrial technology, heating systems, and power tools; engineering; communications services; sales; locations: Alphaville, Aratú, Atibaia-SB, Campinas, Curitiba, Joinville, Pomerode, São Paulo

Canada 613 associatesManufacture of industrial technology; sales; locations: Mississauga, Welland

Chile 163 associates Sales; location: Santiago de Chile

China 61,473 associatesManufacture of automotive technology, industrial technology, power tools, household appliances, heating systems, and security systems; engineering; communications services; sales; locations: Beijing, Changchun, Changsha, Chengdu, Chongqing, Chuzhou, Dongguan, Foshan,

Guangzhou, Hangzhou, Hong Kong, Jinan, Liuzhou, Nanjing, Ningbo, Qingdao, Shanghai, Shenzhen, Suzhou, Wuhan, Wuhu, Wujin, Wuxi, Xi‘an, Yantai, Zhuhai, Zibo

Costa Rica 227 associatesCommunications services; location: Heredia

India 32,667 associatesManufacture of automotive technology, industrial technology, power tools, and household appliances; software develop-ment; engineering; communications services; sales; locations: Ahmedabad, Bengaluru, Bidadi, Bommanahalli, Chakan, Chennai, Coimbatore, Gangaikondan, Hyderabad, Jaipur, Koramangala, Naganathapura, Nalagarh, Nashik, New Delhi, Pune, Verna

Indonesia 228 associates Manufacture of automotive technology; sales; location: Jakarta

Japan 6,771 associatesManufacture of automotive technology and industrial technology; engineering; sales; locations: Anjo, Higashi-Matsuyama, Izumozaki, Misato, Musashi, Odawara, Ota, Shibuya, Shiki, Tochigi, Tokyo, Tsuchiura, Yokohama, Yorii

Bosch today 201834

Korea 2,620 associatesManufacture of automotive technology and industrial technology; engineering; sales; locations: Busan, Deagu, Daejeon, Sejong, Yongin

Malaysia 3,099 associatesManufacture of automotive technology and power tools; engineering; sales; locations: Penang, Petaling Jaya

Mexico 15,769 associatesManufacture of automotive technology, power tools, security systems, and industrial technology; engineering; sales; locations: Aguascalientes, Guadalajara, Hermosillo, Juárez, Mexicali, Mexico City, San Luis Potosí, Toluca

Morocco 201 associatesSales; location: Casablanca

Peru 861 associatesManufacture of household appliances; sales; locations: Callao, Lima

Philippines 524 associatesCommunications services; sales; location: Manila

Singapore 895 associatesEngineering; sales; location: Singapore

South Africa 1,389 associatesManufacture of automotive technology; sales; locations: Brits, Kempton Park, Midrand

Taiwan 981 associatesManufacture of automotive technology; engineering; sales; locations: Pingzhen, Taipei

Thailand 1,636 associatesManufacture of automotive technology and industrial technology; sales; locations: Amata City, Bangkok, Hemaraj, Rayong

United Arab Emirates 135 associates Sales; location: Dubai

United States 18,635 associatesManufacture of automotive technology, industrial technology, power tools, household appliances, heating systems, and security systems; engineering; sales; 75 locations, including Albion/IN, Anderson/SC, Atlanta/GA, Bethlehem/PA, Broadview/IL,Charleston/SC, Charlotte/NC, Fairport/NY, Farmington Hills/MI, Florence/KY, Fort Lauderdale/FL, Fountain Inn/SC, Irvine/CA, Kentwood/MI, La Follette/TN, Lincolnton/NC, Mount Prospect/IL, New Bern/NC, Owatonna/MI, Phoenix/AZ, Plymouth/MI, Warren/MI

Vietnam 3,688 associatesManufacture of automotive technology and creation of software; engineering, sales; location: Ho Chi Minh City

(as of December 31, 2017)This list includes countries and locations with 100 or more associates, including the locations of non-conso-lidated subsidiaries.

Further companies operate inBangladesh, Botswana, Cambodia, Colombia, Ecuador, Egypt, Ghana, Iran, Israel, Kazakhstan, Kenya, Mozam-bique, Namibia, New Zealand, Nigeria, Panama, Saudi Arabia, Sri Lanka, Tunisia, Uruguay, Venezuela, and Zambia.

The Bosch Group outside Europe35

Robert Bosch is born in Albeck near Ulm on September 23

1861

1886Establishment of the company: opening of the Workshop for Precision Mechanics and Electrical Engineering in Stuttgart on November 15

1897First successful installation of the Bosch low-voltage magneto ignition device in a motor vehicle

1902Delivery of the first high-voltage magneto ignition system with Bosch spark plugs

1898First Bosch sales office outside Germany opens in the United Kingdom

1905First Bosch manufacturing site outside Germany opens in Paris

1912Start of production in Bosch’s first U.S. plant, in Springfield, MA

MILESTONESIN COMPANY HISTORY

Bosch today 201836

1918Gottlob Honold designs the new Bosch logo – the “armature in a circle”

1927Start of production of Bosch injection pumps and nozzles for diesel engines

1921The first Bosch Service repair shop is opened in Hamburg

1913At the main plant in Stuttgart, establishment of an apprentice training department with a dedicated workshop

Market launch of the Bosch automotive lighting system

1928Market launch of the Forfex hair trimmer, the first Bosch power tool

1932First power drill and Bosch hammer

1933Launch of the Bosch refrigerator

1932Acquisition of heating systems business of Junkers & Co. GmbH in Dessau

Market launch of the first mass-produced car radio in Europe

37Milestones

1976Production of lambda sensors for three-way catalytic converters begins

1967Start of production of the Jetronic electroni-cally controlled gasoline injection system

1967Establishment of Bosch-Siemens Hausgeräte GmbH (known after 1998 as BSH Bosch und Siemens Hausgeräte GmbH and since 2015 as BSH Hausge-räte GmbH)

1942Robert Bosch dies in Stuttgart on March 12

1951Start of production of gasoline injection systems for passenger cars

1964The not-for-profit organization Vermögens-verwaltung Bosch (from 1969 Robert Bosch Stiftung GmbH) acquires a majority stake in Robert Bosch GmbH

1963Acquisition of Erich Wetzel Verpackungsmaschinen GmbH, entry into packaging technology

1940Opening of the Robert Bosch Hospital

Bosch today 201838

1979Start of production of the Motronic electronic engine management system

1986Start of production of the TCS traction control system

1989Launch of TravelPilot IDS, the first independent vehicle navigation system in Europe

1991Start of production of Motronic with controller area network (CAN)

1997Start of production of the common-rail high-pressure diesel injection system

1995Start of large-scale production of MEMS sensors (micro-electro-mechanical systems)

Start of production of ESP®, the world’s first electronic stability program

1978Start of production of ABS, the electronically controlled antilock braking system

39Milestones

1999ZF Lenksysteme GmbH joint venture (since 2015: Robert Bosch Automotive Steering GmbH) set up with ZF Friedrichshafen AG

2000Production of the DI Motronic gasoline direct injection system

2003Acquisition of Buderus AG, Wetzlar, Germany

2001Industrial leadership of Mannesmann Rexroth AG, and its merger with the Automation Technology division to form Bosch Rexroth AG

2005Start of production of the Night Vision driver assistance system

2003Launch of the Ixo cordless drill/driver with lithium-ion rechargeable battery

Bosch today 201840

2012Bosch sets up a joint venture with the Chinese manufacturer Polaris, thus entering the e-scooter market

2013Start of production of MSC motorcycle stability control

2010Full parallel hybrid powertrain for passenger cars goes into production

Start of production of the predictive emergency braking system

2011Start of production of drive components for e-bikes in Mondeville, France

2008Acquisition of Innovations Software Technology GmbH in Immenstaad, Germany (from January 1, 2011: Bosch Software Innovations GmbH)

2015Complete takeover of the former joint ven-tures BSH Hausgeräte GmbH (formerly BSH Bosch und Siemens Hausgeräte GmbH) and Robert Bosch Automotive Steering GmbH (for-merly ZF Lenksysteme GmbH or the Steering Systems division)

2016Bosch launches its own cloud for web-based services

A Bosch e-scooter sharing service launches in Berlin under the Coup brand

2015Bosch opens new research campus in Renningen, Germany

2017Bosch launches the e-axle. This com-pact new drive unit for electric vehicles comprises motor, power electronics, and transmission

41Milestones

SUPERVISORY BOARD

Franz Fehrenbach Chairman

Nadine BoguslawskiDr. Christof BoschChristian BrunkhorstProf. Elgar Fleisch Klaus FriedrichMario GutmannJörg HofmannProf. Lars G. JosefssonProf. Michael KaschkeDieter Klein ³

Alfred Löckle ¹ Deputy chairman

Hartwig GeiselDeputy chairman 2

Dr. Volkmar Denner Chairman

Christoph Kübel Peter TyrollerDr. Markus Heyn

BOARD OF MANAGEMENT

Bosch today 201842

1 Until December 31, 20172 From January 1, 20183 Until March 23, 20184 From March 24, 2018

Prof. Renate KöcherMatthias Georg MadelungKerstin MaiDr. Wolfgang MalchowUrs B. RinderknechtOliver Simon ⁴Karin Solda ²Dr. Richard VogtProf. Beatrice Weder di Mauro

Prof. Hermann SchollHonorary chairman of the Bosch Group

Prof. Stefan Asenkerschbaumer Deputy chairman

Dr. Rolf BulanderDr. Dirk Hoheisel Uwe RaschkeDr. Stefan Hartung

43Management

HOW TO CONTACT US

For media inquiries, please contact Corporate Communications and Brand Management. Bosch Media Service: www.bosch-press.com For information on career opportunities in the Bosch Group, contact Human Resources Management at www.bosch-career.com Companies wishing to become suppliers to Bosch should contact the Corporate Sector Purchasing and Logistics at www.purchasing.bosch.com For an online version of the annual report, go to: www.annual-report.bosch.com Pdf versions of the annual report and Bosch today are available at: www.bosch.com/boschtoday The Bosch Group’s corporate head- quarters can be contacted at the follow-ing address and telephone numbers: Robert Bosch GmbH Postfach 10 60 50 70049 Stuttgart, Germany Phone +49 711 811-0 contact@bosch.comwww.bosch.com

Printed in Germany

Bosch today 201844

Figures in millions of euros

2013 2014 2015 2016 ¹ 2017

Sales revenue 46,068 48,951 70,607 73,129 78,066

percentage of sales revenue generated outside Germany 77 78 80 80 80

Research and development cost 2 4,543 4,959 6,378 6,954 7,264

as a percentage of sales revenue 9.9 10.1 9.0 9.5 9.3

Capital expenditure 2,539 2,585 4,058 4,252 4,345

of which in Germany 913 1,098 1,394 1,580 1,546

of which outside Germany 1,626 1,487 2,664 2,672 2,799

as a percentage of sales revenue 5.5 5.3 5.7 5.8 5.6

as a percentage of depreciation 126 138 146 141 140

Annual average number of associates (thousands) 280 286 369 384 403

of which in Germany 108 105 131 133 137

of which outside Germany 172 181 238 251 266

at Dec. 31 281 290 375 389 402

Balance-sheet total 55,725 61,924 77,266 81,875 81,870

Equity 27,686 29,541 34,424 36,084 37,552

as a percentage of balance-sheet total 50 48 45 44 46

EBIT 2,751 3,030 4,587 3,594 4,916

Profit after tax 1,251 2,637 3,537 2,374 3,274

Unappropriated earnings 88 102 142 138 241

¹ Adjusted for changes in accounting policies ² Including development work charged directly to customers

FIVE-YEAR SUMMARY OF THE BOSCH GROUP

45

Robert Bosch GmbH

Postfach 10 60 5070049 StuttgartGermanywww.bosch.com

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