Robert Bosch GmbH expects higher raw materials prices by the end of the year, Chief Financial Officer Stefan Asenkerschbaumer said in an interview with Boersen- Zeitung.
The company has a great need for materials such as copper, aluminum and precious metals, and there was a sharp increase in prices during the first half, Asenkerschbaumer was quoted as saying. The company was only partly able to compensate for the increase by hedging, he told the newspaper.
The rise in raw material prices cost the company profit in the high there-digit million euro range last year, the newspaper said.
He said Bosch still expects to have sales of 50 billion euros ($71 billion) this year.
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