...Strong Business Profile: The rating reflects Robert Bosch GmbH's solid and diversified business profile, including leading global positions in automotive supply (eg, powertrain, chassis and aftermarkets), consumer goods (power tools and household appliances) and industrial technology (eg, hydraulics). Bosch also benefits from wide geographical diversification, solid research and development (R&D) capacity and technology leadership in several segments. Business Diversification: The group derives about two-thirds of its revenue from the cyclical and volatile automotive supply business. However, diversification is provided by Bosch's presence in the industrial, consumer goods and energy sectors. This has been reinforced by the recent acquisition of Siemens' 50% share in their JV Bosch und Siemens HausgerSte GmbH (BSH, a leading supplier of household appliances). The group is also looking to focus further on the more stable and higher-margin automotive aftermarkets segment. Acquisitions: In...
