Robert Bosch got a big boost from its automotive division, which was the only business unit within the diversified company to report a sales increase in 2013.
Strong demand for gasoline direct-injection and diesel-injection systems lifted the automotive unit's revenue by 7 percent to 30.7 billion euros ($41.7 billion), Bosch, the world's largest partsmaker, said in a statement today based on preliminary figures.
The unit had an earnings before interest and taxes (EBIT) margin of 8 percent last year, up from 4.5 percent in 2012, according to a spokesman. It is the first time the auto division has hit its 8 percent profitability target since 2010.
Bosch reported that companywide 2013 revenue rose 2.7 percent to 46.4 billion euros, with foreign-exchange fluctuations causing a 1.5 billion-euro burden. Last April, Bosch forecast an overall sales increase of as much as 4 percent.
Excluding an extraordinary 1.3 billion euro charge for losses on its solar business, Bosch's overall EBIT margin in 2013 would have been 6 percent, up from around 5 percent, according to preliminary figures. Bosch is set to unveil full-year earnings on April 30.
Sizable charges aren't expected this year, company officials said at a press briefing Tuesday.