BOSCH expects its Philippine business to grow this year, after seeing its energy and building technology segments bounce back in the first half.
“We’re seeing good momentum already in 2018.. The energy and building technology business has bounced back strongly in the first half and we expect that to continue,” Bosch Philippines managing director Richard Walker said in a press conference on Tuesday, July 3.
The supplier of technology services reported 45 million euros in consolidated sales in the Philippines for 2017, a decline after registering three years of double-digit growth. This was attributed to the performance of its energy and building technology business sector and “moderation” of its mobility solutions business, as well as project awards and purchases pushed back to 2018.
Mr. Walker noted its industrial technology, automotive, e-commerce and consumer goods sectors have been doing well for the first half. Growth in consumer goods was driven by sales of its Contractor’s Choice mid-price range of power tools, and the cordless tools.
“We expect the industrial technology area to also increase, with the industry projects launched and realized in the Philippines,” Mr. Walker said.
The company is bullish on its industry 4.0 solutions, given its presence in the manufacturing and heavy industries. It has already secured an industry 4.0 project in the Philippines with a major manufacturer, but did not name the company.
E-commerce is also one of the main drivers for Bosch, having recorded a growth rate of above 100% in 2017. Its accredited online vendors increased to 20, and expanded its digital product catalog to include over 8,000 stock keeping units (SKUs) by the end of last year.
Meanwhile, Bosch is also looking at opportunities related to country’s the jeepney modernization program.
“Jeepneys, currently we are on close watch for this particular vehicle model… We will decide how to approach the requirements,” Frederick Velasquez, Bosch Philippines head of marketing for automotive aftermarket, said.
The company also aims to tap into the infrastructure growth given the government’s “Build, Build, Build” program, with its solutions for the construction and transportation sectors.
“‘Build, Build, Build’is very important to drive our business in the future and we want to make sure we get our fair share of that,” Mr. Walker said. — P.P.C.Marcelo
