Service solutions firm steps up Phl expansion
Bosch Service Solutions is poised to make its presence felt in other key markets in the Philippines, outside Metro Manila.
“We aim to continue our expansion efforts outside of Metro Manila to be within reach of our customers in key provincial areas, and we are already looking into potential new locations,” said Andrew Powell, Bosch Philippines managing director.
In 2016, the company officially inaugurated its newest business hub in Cagayan de Oro (CDO) — its third outside of Metro Manila — to address the rapid development in the Mindanao region. It provides showroom, sales, training, and after-sales support for Bosch products and solutions across every business division that is present in the Philippines.
Bosch closed its 2016 fiscal year with $56 million (51 million euros) in consolidated sales in the Philippines, a 13 percent improvement from the previous year's performance.
The company attributed this encouraging momentum to the robust growth of the construction, automotive and manufacturing industries, and increased consumer spending power on the back of steady economic growth.
“With double-digit business growth for the third consecutive year, the Philippines earns a bright spot in Southeast Asia as one of the best performing markets for Bosch. We continue to see many opportunities here,” said Powell.
The company’s headcount in the country grew by 16 percent to 530 associates over the course of 2016, due to the company’s expansion of its geographical footprint, as well as its product and solutions portfolio.
For 2017, in light of a subdued economic outlook and geopolitical uncertainty, Bosch aims to achieve sales growth of between three and five percent.
Despite heavy upfront investments in safeguarding the company’s future, results are set to rise.
Headquartered in Germany, Bosch is one of the world’s largest suppliers of automotive components. The company also manufactures industrial products such as drives and controls in addition to building products like powers tools and security systems.