Bosch Home Appliances projects revenue of 15 billion euros in 2025: Betting on AI and emerging markets amid headwinds

【Global Times Finance and Economics (comprehensive report)】On March 26, Europe’s largest white goods manufacturer, BSH Home Appliances Group (BSH), released its 2025 fiscal year financial results. The data shows that BSH Home Appliances Group achieved revenue of EUR 15 billion in the 2025 fiscal year. After adjusting for the impact of exchange rates, this represented a year-on-year decline of 1.6% compared with 2024, while measured in local currency it increased by 2.8% year-on-year.

“We successfully made it through a difficult period. The past year has been full of challenges, but it also shows that our future plans are working.” Chief Executive Officer Mai Zhiyuan said plainly at the press conference for the financial results. Facing multiple external pressures, the company chose to continue ramping up R&D and expanding into emerging markets—full-year R&D spending reached EUR 847 million, rising as a share of revenue to 5.6%; capital expenditures were also maintained at a high level of EUR 463 million.

Rising regional divergence: North America and emerging markets as the twin growth engines

In 2025, BSH Home Appliances achieved revenue growth in North America, Europe, and emerging markets, further strengthening its leading position as Europe’s largest home appliance manufacturer.

North America market: Measured in local currency, revenue grew by more than 5% (in euros, it grew by 0.4%). The main drivers were the strong performance of premium brands Gaggenau and Thermador, as well as the expansion of niche categories such as built-in refrigerators and gas cooktops. At the same time, the Bosch brand’s presence and competitiveness in the region continued to strengthen.

Europe market: Despite significant pricing pressure, overall revenue still grew by 1.2%, reversing the previous downward trend. Within this, revenue in the built-in appliance category increased by 4%. Key markets such as Germany, the United Kingdom, Spain, the Netherlands, and Italy performed particularly positively.

Emerging markets (including Turkey, Eastern Europe, the Middle East, India, and Africa): Measured in local currency, revenue surged by 24%, which translates to an increase of 2.3% in euros. The new production base located in Cairo, Egypt, has entered operation, confirming the group’s long-term commitment to the region. Given the strategic importance of the Indian market, starting in 2026, the country will be set up as an independent business region.

By contrast, revenue in Greater China declined by 3.2% measured in local currency (down 7.1% in euros). Even so, BSH Home Appliances remains among the leading foreign home appliance brands.

Product mix optimization, innovation-driven growth

Even though the market environment is full of challenges, BSH Home Appliances’ growth trend continued across multiple product categories. In the cooking and kitchen appliances sector, the trend reversed: oven sales grew 2.0% year-on-year, cooktops and range hoods sales grew 2.6%, with the integrated hood-and-cooktop combination showing an especially notable growth trend. Dishwasher (up 2.1%) and home appliances (up 0.1%) also recorded growth. Customer service—the business that is key to ensuring product longevity and improving satisfaction among consumers and retail partners—continued to grow, with sales up slightly by 0.3% year-on-year. Refrigerator (down 4.0%) and laundry care products (down 1.0%) saw declines in sales. This was mainly due to the highly competitive market environment, an impact that was particularly pronounced in Greater China, where both major product categories showed sales declines.

However, in 2025, BSH Home Appliances once again demonstrated its ability to develop targeted innovative solutions. In the 2025 fiscal year, BSH Home Appliances further increased R&D spending to EUR 847 million, accounting for 5.6% of full-year revenue, up from the previous year. Chief Financial Officer Thorsten Lücke said: “Innovation that is driven by R&D investment—market-leading innovation—is one of the growth engines of BSH Home Appliances.” In addition, BSH Home Appliances’ forward-looking investments remained high at EUR 463 million, accounting for 3.1% of revenue, strongly supporting growth strategies across markets. Investment priorities cover areas including digitalization, artificial intelligence, IT infrastructure security upgrades, customer service, market positioning and sales, and more.

This investment output is highlighted by numerous new products, pioneering innovations, and a strong focus on artificial intelligence technology. “It’s not just about the technology itself—it’s about delivering solutions that make appliance operation simpler, more convenient, and whose performance is even more outstanding and reliable. By combining our expertise in engineering, design, and applications, we can build products that accurately and continuously meet consumer needs,” Mai Zhiyuan said. During this period, BSH Home Appliances launched multiple flagship products, for example: under the Bosch brand, the company introduced the world’s first built-in sweep-and-mop robot that can be seamlessly embedded in the kitchen; and Bosch Home Appliances and Siemens Home Appliances as well as the Neff brand launched the world’s first drawer steam oven with single-steam functionality.

Home appliances categories, especially floor-care appliances, kitchen food processors, and fully automatic coffee machines, are key focus areas for innovation in 2025. Sales of Bosch Cookit’s smart inspirational cooking pot and fully automatic coffee machines both recorded growth. In addition, by introducing new subcategories such as Bosch air fryers and the Bosch Spotless sweep-and-mop robot, BSH Home Appliances further tapped into more growth potential.

One example of AI application is the world’s first AI recipe converter developed specifically for the Bosch Cookit smart inspirational cooking pot. It can convert online recipes into guided cooking programs, expanding the range of cookable recipes to endless possibilities. Since the beginning of this year, the China market has launched the first oven equipped with fully integrated AI voice control, and in the laundry care segment, applications are also expected to be launched soon.

Looking ahead to 2026, management is cautious in its tone. “A true market recovery is still not something we can confidently foresee. We do not expect any external tailwinds in 2026 either. But we have the foundation to prove our strength in difficult market conditions.” Mai Zhiyuan concluded: “Our guiding principles are: show resilience, invest in the future. This is what we did in 2025. And it is also the direction we will continue to push forward with unwavering determination in 2026. Our goal is to shape the market—through clear decision-making and steadfast execution of future plans.”