...Strong Business Profile: The rating reflects Robert Bosch GmbHs (Bosch) solid and diversified business profile, including leading global positions in automotive supply (powertrain, chassis and aftermarkets), consumer goods (power tools) and industrial technology (hydraulics). Bosch also benefits from geographical diversification. Business Diversification: The group derives about two-thirds of its revenue from the cyclical and volatile automotive supply business. However, diversification is provided by Boschs presence in the industrial, consumer goods and energy sectors. The group is also looking to focus further on the more stable and higher-margin automotive aftermarkets segment. Discontinued Loss-making Business: The group has disposed of its loss-making solar business and realigned its business segments in four main divisions. This has had a positive effect on profitability and cash generation and the group confirmed its 8% EBIT margin target in the medium term, although Fitch Ratings...
