BERLIN (Reuters) – Bosch, which supplies industries from consumer electronics to autos, sees a possible easing of the global chip shortage in the second half of 2023 if demand dips under the weight of inflation, CEO Stefan Hartung said on Wednesday.
Inflation, at record highs in Europe, also meant the supplier had to grow revenues faster to keep its forecast margin for 2022 of 4%, equal to last year. Even then, Bosch would be far below its target margin of 7%, Hartung said.
“We need stronger growth than before to reach our margin goals… we are still far below our target. Independently of economic circumstances, we must make progress on this,” Hartung said.
(Reporting by Victoria Waldersee; Editing by Paul Carrel)
