BSH increases turnover to 15.3 billion euros in 2024 and sets the course for further growth

Munich, April 10, 2025 (BSH) – BSH Hausgeräte GmbH achieved a turnover of 15.3 billion euros in fiscal year 2024 and recorded a year-over-year growth of 3%, 7.5% after adjustment for exchange rate effects. Europe’s leading home appliance manufacturer thus successfully held its own in a challenging market environment, thanks especially to positive developments in the growth markets of North America and the Emerging Markets. “Our strength lies in the combination of strong brands, outstanding product experiences, pioneering innovations, and reliable quality. It is precisely this that delights our consumers – and it forms the basis for our long-term success,” emphasizes CEO Dr. Matthias Metz.

The past year was once again marked by challenges for the economy as a whole and the home appliance industry in particular. Muted consumer demand in many markets and the continuing slump in real estate markets continued to weigh on the important built-in business. Despite the economic headwinds and geopolitical challenges, BSH reported solid growth in fiscal year 2024 in a heavily contested market.

Following a decline in turnover in the previous year on account of the challenging underlying conditions after the end of the pandemic boom, BSH’s clear growth strategy is now paying off. “We have a clear roadmap for the future to ensure our long-term success – with concrete goals, a resilient foundation, and a strong team,” emphasizes Matthias Metz. “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.”

Increased turnover in growth markets key to BSH’s success
In the growth market of the Region North America (USA/Canada), BSH increased its turnover by just under 3% and gained market share. The positive year-over-year performance is primarily attributable to the expansion of the portfolio to include products that are tailored to the local market, allowing BSH to reinforce its presence in the region and enhance its competitiveness.

Turnover in the Region Europe recorded a slight decline of -2%. The home market of Germany was also affected by the market-related decline. Here we countered the market trend and gained market share in the important built-in business. Turnover growth was also reported in countries such as the Netherlands, Austria, and the UK.

The Region Greater China recorded a moderate drop in turnover of -4.5% due to negative exchange rate effects and the significant weakening of the Chinese economy and consumer climate. Nevertheless, BSH remains the biggest non-Chinese home appliance manufacturer in China by far and is defending its strong market position.

The main success factor was strong turnover growth of almost 14% in the Region Emerging Markets, which includes Eastern Europe, the Middle East, and the African continent. BSH generated significant growth in particular in Türkiye, the Middle East, Africa, and India.

Targeted investments with a view to actively shaping key markets
BSH has not only succeeded in generating momentum in key markets, but also in actively shaping them. This has been achieved thanks to an in-depth understanding of local consumer needs and through targeted investments in brand image, innovation, and local presence, also in the important growth markets of North America and Asia.

Thus, 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. BSH is thereby strengthening its market presence and continuing to invest in brand awareness.

In China, BSH celebrated the 30th anniversary of its market entry, setting strong accents with the opening of a global Research and Development Center and a Talent Center in Nanjing in June 2024. These centers promote innovation at a global level, investing in highly qualified experts and strengthening BSH’s market presence. At the same time, they underscore the technology leadership of BSH in the home appliance industry.

The strong local presence and close relationships with local retailers and partners supplement BSH’s clear strategy in the area of artificial intelligence (AI). Thanks to AI, consumers and business partners benefit from factors including a stronger brand presence, bespoke communications, optimized consumer feedback analyses, more flexible supply chains, and reduced storage costs – a further step toward improved efficiency and competitiveness.

Growth in important product families
Following the slump on the real estate market, in particular, which led to curbed demand and drops in turnover in the bulk of product families in recent years, 2024 saw BSH return to a growth course in most areas. Positive performance came from the product family Laundry Care (+4.1%) and Customer Service (+5.2%) with its comprehensive service portfolio. The product families Dish Care (+3.2%) and Consumer Products (+5.5%), in other words, small home appliances such as home care appliances, coffee machines and kitchen machines, also recorded marked increases in the past year. The systematic focus on consumer needs paid off here. Only the product families Cooking, in other words, ovens (-4.6%) and cooktops (-1.3%), and Cooling (-0.4%) recorded slight dips in turnover in 2024. This is primarily the result of the continuing decline in demand for built-in appliances.

Innovations with real added value for consumers: when pioneering work becomes the standard
BSH set new benchmarks in 2024, with a cross-brand and cross-product combination of outstanding product experiences, pioneering innovations, and reliable quality. BSH is systematically continuing this strategy in 2025.

The Gaggenau brand’s Expressive Series, for example, due to be launched in April 2025, will redefine the luxury kitchen. The design of the new series follows the Bauhaus principles: clear forms, thought-out functionality, and the highest standards of craftsmanship. The series comprises ovens, steamers, microwaves, coffee and espresso machines, as well as warming and vacuuming drawers.

Smart technology is playing an increasingly important role in consumers’ everyday lives. The new Matter standard is revolutionizing the smart home, with BSH also playing a pioneering role. At IFA 2024 in Berlin, it presented the world’s first Matter-enabled home appliance in the market. This notably energy-saving XXL fridge-freezer combination from the factory in Giengen, Baden-Württemberg, will be available in the course of 2025 and can be connected to the devices of other manufacturers. And, of course, further functionalities continue to be available via BSH’s own apps. Anyone who turns pioneering work into the standard sets new benchmarks. In 2025, for example, all new BSH refrigerators on the US market will already be Matter-enabled. “We are making innovation accessible to our consumers across the board – without compromising on quality and performance,” emphasizes Matthias Metz.

Spending on research and development substantially above the industry average
Market success over the long term requires continuous innovation – one of BSH’s key growth drivers. This is also the reason why the company made record investments in research and development in 2024: 5.5% of turnover (835 million euros) went into pioneering technologies. “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. Furthermore, BSH’s forward-looking investments amounted to an impressive 3.4% of turnover (520 million euros), thus supporting the company’s product and growth strategy in all regions. A special focus was on energy efficiency and digitalization.

Sustainable products and production methods for the everyday lives of consumers
Resource-efficient production is designed not only to make BSH’s business more sustainable but also to ensure its future viability over the long term. This is why the company is continuing its investment in sustainable production and offering consumers innovative products and services for a resource-efficient lifestyle.

Hence, BSH products successfully set benchmarks for eco-friendliness, with the Bosch Green Collection as the pioneer. The product line of Bosch fridge-freezer combinations uses carbon-reduced, in some cases even carbon-neutral, materials and bio-based raw materials to reduce the carbon footprint of these appliances by more than 50%. (1)

But sustainability goes beyond energy-efficient products. BSH is also committed to reducing microplastics waste. Retrofittable microplastics filters, for example, capture up to 97% of released particles, while a microplastics program, which can be downloaded for free and retrofitted in suitable washing machines, reduces the fiber abrasion from clothing by up to 30%.

Outlook for fiscal year 2025
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 set ourselves 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,” summarizes Matthias Metz.

(1) Against a comparable Bosch fridge-freezer combination with conventional production materials (KGN39VXAT). Calculation of the carbon footprint of the production material (excluding packaging) according to ISO 14067. During production, the carbon-reduced material is mixed in part with conventional material, but due to the mass balance model according to ISO 22095 it is allocated to the Bosch Green Collection fridge-freezer combinations in arithmetic terms. Tested and confirmed by TÜV Rheinland.

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Bilder

Dr. Matthias Metz, Chief Executive Officer
and Chairman of the Board of Management

Dr. Thorsten Lücke, Chief Financial Officer,
Member of the Board of Management

BSH Board of Management, left to right:
Rudolf Klötscher (CSS), Lars Schubert (COO),
Dr. Matthias Metz (CEO),
Dr. Alexander Dony (CSM),
Dr. Thorsten Lücke (CFO)

Opening of the BSH factory Monterrey,

Mexico, in July 2024

Refrigerator from the Bosch Green Collection

Gaggenau oven from the Expressive-Serie

Matter-enabled French Door Bottom Mount
refrigerator from the Bosch Serie 100

Hausgeräte unter den Marken

BOSCH und die Bildmarke sind registrierte Marken der Robert Bosch GmbH, Stuttgart.
Die BSH Gruppe ist eine Markenlizenznehmerin der Siemens AG.