Germany's Bosch reports first annual loss since financial crisis

The billions in costs incurred by job cuts and US tariffs pushed the German industrial group Bosch deep into the red last year.

Profit after tax stood at minus €400 million (about $470 million), chief financial officer Markus Forschner announced during the presentation of the firm's financial results on Thursday.

In 2024, Bosch’s profit after tax had halved compared with the previous year, but still stood at around €1.3 billion. According to a spokesman, Bosch last reported a loss in 2009 during the financial crisis that year.

The cost of job cuts is said to have weighed on the result to the tune of €2.7 billion. The actual payments will be made gradually over the coming years.

Exchange rate effects, high costs and additional tariffs also had a negative impact. 

Although adjusted earnings before interest and taxes (EBIT) also slumped - by around 42% - they remained positive at €1.8 billion. 

The difficult economic situation hit Bosch with full force last year. The world’s largest automotive supplier is suffering not only in its core business but in almost all other business areas.

To turn the situation around, the management team led by chief executive Stefan Hartung is making significant cuts to staff and structures. The supplier division alone plans to cut up to 22,000 jobs in the coming years.

At the end of 2025, the group employed around 412,774 people worldwide – 5,085 fewer than a year earlier. 

Bosch’s management is targeting revenue growth of 2-5% in 2026. This is also expected to result in a higher operating profit. Instead of 2% as in 2025, managers are forecasting between 4-6%.