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Bosch Siemens' sales are up

May 26, 2014

German white goods maker BSH reported Monday income growth for all regions, but profits have been hit by a global recall for dishwashers.

https://p.dw.com/p/1C7Cd
Appliances on an assembly line at Bosch Siemens Hausgeräte.
Image: picture-alliance/dpa

Germany's Bosch Siemens Haushaltgeräte (BSH) logged on Monday a 25 percent dip in profits on the year due to a major recall for dishwashers, but noted its sales were up.

BSH said its profits before tax and interest had dropped by a quarter to 509 million euros ($694 million) in the wake of a worldwide recall for some 5 million dishwashers produced between 1999 and 2005 due to a potential fire threat.

BSH is market leader for household appliances in Europe and in third place globally behind Whirlpool and Electrolux.

Record growth

Sales jumped 7.2 percent to a record level of 10.5 billion euros year-on-year, the company said.

“We want to expand our position on the world market, and while remaining profitable, grow faster than the market," BSH CEO Karsten Ottenberg said in a statement, underscoring that the company is on target for further growth.

Higher income was mirrored by rising sales in all of BSH's regions. Sales were up 25 percent in China and 18 percent in North America. A boost in the company's income in Europe was attributed to the acquisition of Polish appliance maker Zelmer S.A.

BSH manufactures white goods under a number of brands, including Neff, Gaggenau, Constructa and Thermador.

The recall began last August and the company has been offering owners free repairs or discounts on new machines.

kpc/cjc (dpa, BSH)