Stefan Asenkerschbaumer, chief financial officer of Robert Bosch GmbH. (picture alliance / dpa)
A slump in automotive production and the broader coronavirus crisis has dealt a combined blow to German technology firm Bosch, which reported a slide in 2020 revenue on Thursday.
Sales revenue fell by 6.1 percent in comparable terms year on year to 71.6 billion euros (85.8 billion dollars), according to the company, based in Gerlingen near Stuttgart.
However, the result given for the previous year does not include Bosch's former packaging technology division, which it sold in late 2019. Taking that into account, the year-on-year fall in revenue would be even sharper.
Earnings before interest and tax came in at just 1.9 billion euros in 2020, after a result of 3.2 billion euros in 2019, including extraordinary income from the sale of packaging technology.
The company did not give a net result.
Bosch did not make any targets for the coming year, citing ongoing uncertainty in the pandemic.
"The crisis is not over," chief financial officer Stefan Asenkerschbaumer warned.
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