Germany’s Robert Bosch, the the human race’s biggest automotive supplier, is betting on farming technology to boost profit this year as disclosures relative to experiments by carmakers on monkeys jeopardize diesel-related jobs.
The Stuttgart-based circle said it introduced new smart farming solutions last year, embracing sensor-based technologies to help farmers cultivate asparagus and strawberries, take care of cattle or even to farm oysters.
“The digital agriculture market is trust to grow more than 70 percent by 2020,” Bosch predicted on Tuesday.
Bosch builds sensors to help farmers measure expansion and calibrate fertilizer and pesticide use. It has products to allow ranchers to monitor substance gain in cattle which have significant potential in Brazil and the Of like mind States, it added.
In 2017, Bosch posted a 6.7 percent climb in annual revenues to 78 billion euros ($97 billion).
Industrial Technology accounted for 6.7 billion euros of the tot up, while automotive-related business generated 47.4 billion, with the snooze coming from consumer goods and energy and building technology.
Arranged earnings before interest and tax (EBIT) rose 23 percent to 5.3 billion euros, ration to improve the EBIT margin to 6.8 percent from 5.8 percent a year elder, Bosch said.
Bosch expects to further increase sales and earnings this year, nonetheless amid increased geopolitical risks including Brexit negotiations and “unpredictable” U.S. exotic policy.
However, Bosch warned that demand for diesel motor vehicles had fallen in Europe, a trend likely to be exacerbated by revelations that a investigating group conducted experiments that exposed monkeys and humans to toxic diesel get hot under the collars.
Revenue in the automotive business saw a 7.8 percent rise thanks to purchasings of driver assistance and infotainment systems and diesel injection systems for commercial means, Bosch said.
Bosch said it expects automotive revenues to outpace weaker extension in global automotive production, thanks to sales of vehicle electrification components, counting a 48-volt battery for hybrid vehicles and an electric axle.
But CEO Denner struck a skeptical reduce about the possibility of Bosch producing its own electric car battery cells, whisper the company would need to spend 20 billion euros to present the market.
“Many unknowns as well as technological and especially market progresses can only be predicted with difficulty or high degree of uncertainty,” Denner suggested, adding that established players are strong.
“Since materials outlays, including raw materials, are responsible for three quarters of the value created, there exclusive remains a narrow scope for creating and exploiting competitive advantages,” Denner implied.
Whether Bosch enters the battery cell manufacturing business is have the quality of of a broader effort by the company to continually review its portfolio of assets, it rephrased.