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Bosch and Siemens Home Appliances Group (BSH) has reported a 7.2% increase in sales to around €10.5bn, despite a voluntary safety repairs of dishwashers, with EBIT amounting to €509million.
China and North America were one of the largest growth areas for the company, with BSH capitalising from the growing market in China, with its sales growing by 25% to €1.5billion. Whereas, in America the company realigned its appliances moving them more upmarket and gaining 18% increase.
Growth was also reported in Eastern Europe, with Russia up 5% and Poland up 32%. And this was reiterated in Western Europe with UK sales up 11%, Spain also up 11%, and France showing an increase of 4%.
This sales story was against a voluntary safety measure for a number of dishwashers which were produced between 1999 and 2005, that could overheat and cause fire. The company offered consumers a fee repair or discount when buying a new device.
BSH CEO Dr Karsten Ottenburg commented: “BSH has an extraordinary success story. Behind this success story we will continue to write. We want to expand our position in the world market and profitably grow faster than the market.”
According to BSH, the company increased its investment in research and development to €334million, which constitutes 3.2% of sales. As a result of some of this investment, BSH will showcase networked appliances across Bosch and Siemens brands, as well as the HomeConnect App, which can control a range of models across brands, at IFA.