BSH: turnover increase of 5.3% in 2020

BSH Board of Management.

As communicated by BSH, in 2020 the company achieved the highest annual turnover in its more than 50-year history. It reached sales revenues of 13.9 billion euros resulting in a 5.3% growth compared to the previous year. Based on local currency, BSH recorded a growth of 8.5%. “2020 was a record year for BSH – commented Carla Kriwet, Chairwoman of the BSH Board of Management -. Thanks to the outstanding commitment of our colleagues worldwide, we successfully overcame the challenges of the global pandemic. Our industry has experienced significant growth due to the increased time that consumers spend at home and in their kitchens. Our strong brand portfolio, innovative products and digital solutions enabled us to satisfy consumers’ desires and expectations”. In the course of 2020, all regions overcame the business downturn that occurred at the start of the pandemic and significantly increased overall sales revenues. BSH grew by 4.8% in the region Europe (+8.6% based on local currency). Turnover rose considerably, especially in Germany, Great Britain and Northern Europe. The American market proved to be robust and BSH gained additional market share, achieving an above average 7.7% turnover growth in the region America compared to the previous year (+10.3% based on local currency). There was particularly high demand for refrigerators as well as dishwashers. Business in the region Asia-Pacific/Africa was 5.3% above the previous year’s level (+7.7% based on local currency). The impacts of the pandemic became noticeable in China in February. However, significant business recovery with high growth rates started in May, more than compensating for turnover losses during the previous three months. Especially in China, BSH witnessed a significantly growing demand for dishwashers (+34% turnover growth) and dryers (+59% turnover growth). BSH also grew in India and Africa, and plans to substantially expand its business in the emerging markets. Besides, the company grew significantly in all product categories: the cooking, refrigeration and dish care product categories each recorded a clear turnover increase of around 6% (+8 to 10% based on local currency). Turnover in the laundry care category was slightly above the previous year. Consumer products’ turnover grew by over 9% (+12% based on local currency). The consumer products category includes small appliances such as fully-automatic coffee machines, food processors and vacuum cleaners. The customer service also grew strongly by 8% (+11% based on local currency).
As regards to the investments, BSH continued major investment projects as planned in 2020, e.g. the new laundry care and dryer factory in Chuzhou, China. The focus remains on investing in Research & Development to support consumer-centered innovations, IoT solutions and digitalization of the entire value chain. Investments in these areas in 2020 reached 708 million euros and were at the previous year’s level, corresponding to 5.1% of total sales revenue. Finally, BSH strengthens its strategic focus on sustainability: in particular it reached a milestone towards greater sustainability in late 2020 when all BSH production, development and administrative sites worldwide became CO₂-neutral.