Bosch Austria is experiencing a significant drop in revenue in 2024.
But instead of pulling back, the company is boldly pushing ahead with future-oriented initiatives — investing in hydrogen technology, climate-friendly heat pumps, and innovative developments.
The weakening economy has also left its mark on Bosch Austria. The technology group reported a turnover of €1.25 billion in 2024, representing a 9.4 percent decrease compared to 2023. The “Mobility” and “Industrial Technology” sectors were particularly affected, as Bosch Austria CEO Helmut Weinwurm explained on Tuesday. Despite the tense economic situation, the company invested around €200 million in research and development — equivalent to 16 percent of its annual revenue.
Weak Vehicle Market Negatively Affects Bosch Mobility
In the Bosch Mobility segment, the weak vehicle market had a particularly noticeable impact. Nevertheless, according to Weinwurm, there was still strong demand in certain product categories, such as injection systems for large engines. In the industrial and manufacturing technology sector, Bosch was affected by the declining business in the mechanical engineering industry.
In contrast, business in the Consumer Goods sector and the Energy & Building Technology division developed positively. Cooling systems for households and other energy-efficient home technology solutions contributed significantly to revenue growth.
Demand for heat pumps has recently declined. Bosch is currently still benefiting from the processing of government-subsidized orders from 2024. However, a downturn is expected starting in the third or fourth quarter of 2025. “Customers are now waiting for the 2026 subsidy program,” said Weinwurm at a press conference.
Bosch Investing Heavily in Hydrogen Technology and Site Expansion
In addition to research, Bosch Austria also invested €32 million in expanding its production sites — a 44 percent increase compared to the previous year. The main focus of these investments was the methanol infrastructure at the Hallein plant and the hydrogen infrastructure at the Engineering Center in Linz. This includes the development of electrolysis stacks for hydrogen production and components for hydrogen refueling stations. “Despite all the uncertainties, it’s important that we continue investing in future-oriented topics and strike a balance between targeted cost savings and investments in profitable development projects,” emphasized Weinwurm.
Cautious Outlook for the Current Year
The outlook for the current year remains cautious. Although there was a slight economic recovery in the first quarter of 2025, “things aren’t getting any easier,” said Weinwurm. Ongoing uncertainty, particularly due to international trade policies — especially U.S. tariff policy — makes forecasting difficult: “It’s hard to predict where we’ll end up by the end of the year.”
The Bosch Group is represented in Austria by six companies and twelve locations. All four business sectors — Mobility, Industrial Technology, Consumer Goods, and Energy & Building Technology — are active. International centers of competence for mobility solutions are located in Vienna, Linz, and Hallein. Key production sites are located in Hallein, Bischofshofen, Linz, and Pasching.
A multilingual professional experienced in Europe, Canada, and China, Herbert has developed invaluable networks in the automotive and energy industries. He has led high-profile projects involving ENBW, Mercedes-Benz Group, Siemens Group, and the Fraunhofer Institute.