Bosch Expects 3%-5% Sales Growth This Year

Robert Bosch GmbH says gains in all business sectors resulted in sales growth of about 10% in January-March, including the effect of favorable exchange rates.

The privately held company predicts full-year sales growth of 3%-5% this year, aided by increasing demand for Internet-enabled products and Web-based services.

Last year Bosch's revenue grew 3% to €46.1 billion, and earnings before interest and taxes were €2.8 billion. The company's automotive technology business hiked sales 7% to €30.6 billion. Bosch spent about €4.5 billion on research.

The company's sales in 2013 rose 2% to €25.5 billion in Europe, 4% to €7.8 billion in the Americas and 6% to €11.1 billion in Asia Pacific in 2013.

Bosch predicts demand for its sensors will increase 25% this year, including a 25% jump to 50 million units for sensors used in cars.

Asia, where Bosch expects to double sales by 2020, is the company's fastest-growing market. But it also targets 100% sale growth in North and South America over the same period.