BSH Hausgeräte GmbH reported €15.3 billion turnover in 2024, with a year-on-year growth of 3% or 7.5% after adjustment for exchange rate effects.

It was despite a past year marked by economic headwinds and geopolitical challenges.

BSH stated consumer demand in many markets and continuing slump in real estate markets continued to weigh on its built-in business.

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Following a decline in turnover in the previous year, due to the challenging underlying conditions after the end of the pandemic boom, BSH’s stated its growth strategy is paying off.

CEO Dr. Matthias Metz. “We have a clear roadmap for the future to ensure our long-term success – with concrete goals, a resilient foundation, and a strong team.”

He continued: “We inspire consumers with our leading brands and first-class products and contribute to the success of our retail partners.

“At the same time, we focus on our strengths to set ourselves further apart from our competitors and live up to our ambition to be a market shaper.

“And all the while we are steadily working to increase our competitiveness.”

The European region recorded a slight decline of -2%, however turnover growth was reported in the UK, Netherlands, Austria.

Greater China also recorded a drop in turnover of -4.5% due to negative exchange rate effects and weakening of the Chinese economy and consumer climate.

BSH celebrated the 30th anniversary of its market entry in China, including opening of a global Research and Development Center and a Talent Center in Nanjing in June 2024.

Its strongest emerging markets, which includes Eastern Europe, the Middle East, and the African continent reported the greatest growth of 14%.

While North America (USA/Canada) turnover was up 3% and gained market share.

BSH attributed the positive year-over-year performance to the expansion of its portfolio to include products tailored to the local market.

BSH continues to expand its network of Experience and Design Centers under the Bosch,

Gaggenau and Thermador brands in the North American market. Following the opening of

locations in Miami and Houston in 2024, additional centers will soon follow in Washington D.C. and

Beverly Hills.

Although cooking categories recorded dips in turnover including ovens (-4.6%), hobs (-1.3%), and cooling (-0.4%), its Laundry Care (+4.1%) Customer Service (+5.2%), Dish Care (+3.2%) and Consumer Products (+5.5%), i.e. small home appliances recorded growth.

As part of a “record” €835million investment into research and development in 2024, BSH claimed to present the world’s first Matter-enabled home appliance at IFA, with the XXL fridge-freezer available in 2025.

It can be connected to the devices of other manufacturers and, this year, all new BSH refrigerators on the US market will be Matter-enabled.

In addition, Gaggenau will launch the Expressive Series, in April 2025, which comprises ovens, steamers, microwaves, coffee and espresso machines, plus warming and vacuuming drawers.

 “We are making massive investments in innovations that inspire people and in the required skills and structures that will allow us to turn good ideas into successful products even faster – and, for the record, we are significantly above the industry average on this,” explains CFO Dr. Thorsten Lücke.

BSH has seen investment into sustainable production and introduction of Bosch Green Collection fridge-freezer, with a reduced carbon footprint of 50%, and its retrofittable microplastics filters reportedly capture up to 97% of particles,

Despite a market environment that continues to be very challenging across all regions and geopolitical challenges, BSH is optimistic about the current fiscal year.

“Our success is based on the fact that we deploy our diverse strengths in a targeted manner so that we can clearly setourselves apart from the competition.

“One decisive factor in this is the passion, commitment, and innovative strength of our employees, without whom this success would not be possible.

“Together, we are actively shaping the markets of the future,” summarised Matthias Metz.