BSH at a Glance 2014 BSH BOSCH UND SIEMENS HAUSGERÄTE GMBH

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1 BSH at a Glance 2014 BSH BOSCH UND SIEMENS HAUSGERÄTE GMBH

2 Main Brands Special Brands TM TM Regional Brands

3 3 The BSH Brand Portfolio Brands are part of the most important ingredients in global competition. For the company they belong to its most precious assets and for the customers they are a pivotal symbol engendering trust and providing guidance. Bosch and Siemens: these two brands are known worldwide and have a long history, underpinning our international success. Bosch stands for reliable, durable products; Siemens stands for innovation, leading-edge technology and quality design. The BSH Brand Portfolio includes the special brands Gaggenau, Neff, Thermador, Constructa, Viva, Ufesa, Junker and the Polish brand Zelmer acquired in The newest member of the family is a consumer products brand with a long tradition that enjoys a reputation for reliability and durability in its home country. Regional brands are the market leaders which garner respect in their countries of origin. Brands with which our regional consumers particularly identify include Balay in Spain, Pitsos in Greece, Profilo in Turkey and Coldex in Peru. Such brands help strengthen BSH s position in these countries.

4 4 Products for day-to-day living Cooking Washing and Drying Dishwashing Refrigeration and Freezing Consumer Products

5 5

6 6 Dr. Karsten Ottenberg has been Chairman of the Board of Management at BSH since July The Group s strategy focuses on the variation in consumers usage needs from region to region.

7 7 BSH at a glance BSH Bosch und Siemens Hausgeräte GmbH was founded in 1967 as a joint venture between Robert Bosch GmbH and Siemens AG Product portfolio: the full spectrum of modern household appliances Revenues in 2013: 10.5 billion euros Third-largest manufacturer of household appliances in the world, number one in Europe Employees: approximately 50, factories in 13 countries Over 80 companies in 47 countries Numerous distinctions as an attractive employer, including the Top Employers Institute s Top Employer Europe 2014 award and national Top Employer 2014 accolades in Belgium, Germany, the Netherlands, Poland, Spain, and Turkey Some 7,000 customer service representatives deployed in every country where we sell appliances Global production and development network with development centers in Germany, China, Poland, and Turkey Networked appliances: development of a multi-brand app for user-friendly operation and care of all household appliances Energy efficiency and environmental protection along the entire value chain BSH Super Efficiency Portfolio features the most energy-efficient appliances available on the market

8 8 Current trends Fiscal 2013 was a prosperous year for BSH. Group revenues rose 7.2 percent to 10.5 billion euros, hitting double digits for the first time. This strong uptick in revenues stood in contrast to a decline in earnings before interest and taxes (EBIT) to 509 million euros. The lower EBIT was driven by reserves set aside for free repairs and special discounts relating to a voluntary safety campaign for certain models of dishwashers. We expect moderate revenue growth in 2014 coupled with a sharp increase in EBIT. We succeeded in growing sales worldwide and see further potential in the growth regions of the global home appliance market. Regional variations in market requirements and the increasing role of digital technology in how consumers access information and make purchasing decisions present both a challenge and an opportunity. The market launch of the first networked appliances in 2014 is crucial. This is just one example of the strategic journey of BSH toward a consistently customer-centric, global organization utilizing the full potential of its multi-brand strategy across product groups, sales regions, and price segments. We are engineering this evolution from a position of strength: Our outstanding sales and service network, excellent technological positioning, in-house expertise, and sound corporate financing distinguish us from the competition.

9 9 Summary of past performance (group) in EUR million Revenue 10,508 9,800 9,654 9,073 8,405 Year-to-year change (%) Percentage of international revenue Employees (in thousands at of the following year) Personnel expenses 2,195 2,043 1,893 1,807 1,688 Research and development expenses As percentage of revenue Capital expenditure on property, plant and equip ment, and intangible assets * As percentage of revenue Depreciation, amortization, and impairment on property, plant and equipment, and intangible assets * As percentage of capital expenditure Total assets 8,742 7,865 7,435 6,901 6,443 Property, plant and equipment, intangible assets, and non-current financial assets 3,015 2,911 2,655 2,688 2,496 Inventories 1,300 1,235 1,305 1,226 1,032 Trade accounts receivable and other current assets 3,024 2,773 2,691 2,199 1,954 Equity 2,497 2,579 2,409 2,408 2,535 As percentage of total equity and liabilities Provisions 2,114 1,980 1,760 1,857 1,702 EBITDA 886 1, , EBIT Profit before tax Consolidated net profit * Excluding goodwill.

10 10 In 2013, our appliances received 197 Best Buy or Best in Test awards throughout Europe. Our consumers can count on our appliances for quality, durability, and reparability.

11 11 BSH stands for quality and consumer focus Each one of our brands stands for the highest quality, outstanding design and excellent service. We make every endeavor to ensure that dealers and consumers around the world experience BSH as a competent, dependable and fair partner. In 2013, BSH s brands products received 110 Best in Test and 87 Best Buy distinctions in product tests conducted by the independent German product testing foundation Stiftung Warentest and comparable European test magazines: For more information, see The operational lifecycle of our products averages 13 years. We subject our appliances to rigorous durability tests before they go into production, using climatic chambers, sound labs, and washing and rinsing test stations to ensure that each appliance is ready for even the most extreme real-world conditions far exceeding mandatory specifications and standards. In the rare event that something does malfunction, our appliances are designed to make repairs as easy and efficient as possible. We keep all functionally relevant replacement parts available for at least ten years. Our team of some 7,000 BSH customer service representatives and selected service partners provide fast, professional support to our customers.

12 12 Our apps and networked appliances make housework a snap and keep your data secure. We take comprehensive security precautions to protect the privacy of our consumers.

13 13 BSH stands for innovation, connectivity, and data security We have traditionally put quality and innovation high on the agenda, and they are the factors behind our success on the international competitive stage. We create products which make life easier and more agreeable for people right across the world, thanks to their intelligent technology, high performance, greater convenience and user-friendliness. The design of our appliances defines international standards. Several apps make your household tasks easier. The mybosch app provides digital product support for all Bosch appliances from help getting started and tips for discovering the many exciting features to state-ofthe-art service tools and helpful hints for every situation. The new Home Connect multi-brand app offers a wide range of features to make your life simpler. Soon, it will even let you peek into your refrigerator from anywhere in the world and serve up suggestions for recipes. The kitchen stove and oven also offer convenient remote configuration tools. A tap is all it takes to check the program of your washing machine or dishwasher. The digital user guide even offers bonus videos for cleaning and servicing your appliances, making your housework that much simpler. And it s easy to get in touch with a customer service expert if you ever happen to need one. We take the privacy of our consumers seriously with a focus on protecting the security of your data.

14 14 The Top Employers Institute honored BSH with its Top Employer Europe award in 2014 for the second year in a row. Our biannual international employee survey had a higher rate of participation than ever before.

15 15 BSH stands for attractive carreer opportunities We regard our company as a global network supported by open dialog between different people from different cultures. Mutual respect, fairness in dealings with others and partnership-based leadership which encourages achievement are of crucial importance here. Our forward-looking personnel development and continuous qualification measures enable our employees to make the most of their potential. This makes BSH one of the most attractive employers in industry. The independent Top Employers Institute honored BSH in 2014 for the second year in a row with its coveted international Top Employer Europe award. BSH was also recognized as a top employer at the national level in Belgium, Germany, the Netherlands, Poland, Spain, and Turkey. In Germany, BSH defended its top ranking as the best employer for engineers and was certified as the Top Employer Germany for the eighth time. We seek to attract the most suitable employees and earn their long-term loyalty. That s why BSH pursues a sustainable human resources strategy focusing on diversity, equal opportunity, and qualification. To further expand our leading market position, we consciously foster and promote internationally diverse teams. Part of our global talent management strategy is to identify and develop employees with the potential for an international career.

16 16 Group revenues in 2013 rose 7.2 percent to 10.5 billion euros, hitting double digits for the first time. BSH is the largest manufacturer of household appliances in Europe and number three worldwide.

17 17 BSH stands for sustainable added value Our entrepreneurial activities are directed towards profitable growth, sustainable increases in value and the long-term safeguarding of BSH as a company. We regard the nurturing of our parent companies brands as our mission and obligation. By undertaking permanent benchmarking and consistently orienting ourselves towards the very best, we constantly improve our positions in the competitive field, and give ourselves the freedom of action to shape our future. Business volume surged in China and North America in 2013 and even in the stagnant Western European market, we managed to buck the industry trend with a significant expansion fueled by organic revenue growth of 5.8 percent and new revenues from the Polish consumer products manufacturer Zelmer, whose acquisition was completed in June Our goal for the coming decade is to grow faster than the global market. But growth never comes at the cost of quality or our added value. On the contrary: It is our long-term ambition to remain the industry benchmark when it comes to generating enterprise value.

18 18 Environmentally sound, climate-friendly practices across the entire value chain have been firmly anchored in our corporate strategy for decades. Our Supplier Code of Conduct sets new standards in the supply chain.

19 19 BSH stands for responsibility and integrity We acknowledge our social responsibility. Wherever we operate, our actions are in accordance with the law and with the principles set out in the United Nations Global Compact in relation to human rights, labor relations and environmental protection. By our responsible and conservation-minded treatment of resources we set standards for sustainable development. Our dealings with employees, business partners and shareholders are guided by honesty and integrity. Protecting our environment and climate at all levels of the value chain has been a pillar of our corporate strategy for decades. As a member of the Global Compact and signatory of the Code of Conduct of the European Committee of Domestic Equipment Manufacturers (CECED), we have voluntarily committed to adhere to high environmental and social standards at all our sites. The BSH program Social Compliance in the Supply Chain, launched in 2012, brings new standards and transparency to supplier working conditions. All our suppliers are obliged to sign the BSH Supplier Code of Conduct. Since 2012, BSH has required that new suppliers pass a social audit conducted by an outside certifying authority before any contract is approved. In 2013, we began systematically auditing the approximately 3,000 suppliers that already serve our production sites.

20 20 Milestones 1967 Founding of BSH Bosch und Siemens Hausgeräte GmbH as a joint venture between Robert Bosch GmbH and Siemens AG 1972 Fully automatic washer/dryer 1976 The Greek brand Pitsos forms part of BSH 1982 The brand Neff forms part of BSH 1986 Aqua-Stop System for dishwashers (100% protection against water damage) cm dishwasher 1988 CLOU, the non-tipping pull-out oven shelf system 1988/89 The Spanish brand Balay forms part of BSH 1989 Launch NoFrost technology 1991 w Corporate Environmental Protection department set up and first BSH Environmental Report published 1993 w Discontinuing use of CFCs/HFCs in Europe 1994 w Establishment of environmental management system and approval of a binding group-wide environmental policy 1995 The Turkish brand Profilo forms part of BSH 1996 BSH products manufactured and marketed in China The Peruvian brand Coldex forms part of BSH 1997 w Innovative vacuum cleaner motor design for improved energy efficiency and higher suction power New freshness system with VitaFresh 1998 The Thermador brand forms part of BSH 1999 Steam oven with fixed water connection w Production of the country s first CFC-/HFC-free refrigerators in China 2000 w Approval of globally valid occupational health and safety guidelines Fully automatic dishwasher 2002 SLIDE & HIDE, the fully retractable oven door 2004 w BSH signs the UN Global Compact 2005 w Code of Conduct of the European Committee of Domestic Equipment Manufacturers CECED signed 2006 Dishwasher with VarioSpeed (full performance at double the speed) Innovation w Sustainability Corporate development

21 New generation of fridge-freezer combination appliances with automatic defrost (NoFrost) w Exchange scheme for obsolete refrigerators in Brazilian shanty towns Power-saving compressor technology and aerodynamic systems integrated into vacuum cleaners 2008 Heat pump technology creates world s most energy-saving dryer Intelligent Heater inside: The sensoflow System guarantees maximum coffee indulgence, thanks to its ideal brewing temperature. World s most energy-efficient dishwasher, featuring Zeolith drying system Induction cooktop with LCD screen w Launch of the Energy Excellence Initiative: Group-wide control of all marketing and sales activities related to energy efficiency w Balance calculation for BSH s corporate carbon-dioxide emissions w Introduction of Compliance Management liter dishwasher SensorBagless Technology in bagless vacuum cleaners ensures cleaning at always optimal performance level 2010 i-dos automatic detergent dosing, precise-to-the-milliliter, reduces water consumption 2011 New premium class washing machines and dryers: iq 800 and HomeProfessional w Corporate Responsibility and Sustainability department set up Full-surface induction with TFT Touch Display New slimline platform for dishwashers: small size extraordinary dishwashing performance Technology Center for Laundry Care opens in Berlin Competence center for washing and drying technologies Coffee competence center opens in Traunreut development of automatic beverage machines 2012 w BSH will be the first company in Europe to receive CO2 certificates for environmentally friendly freight transport by rail w German Federal Government and Association of German Chambers of Industry and Commerce (DIHK) admit BSH to climate protection companies grouping Dust separator system Cross- Flow in bagless vacuum cleaner Runn n: for high performance and minimized maintenance Nofrost fridges with 14% more capacity 2013 Launch Multidoor fridges in China Opening of a slimline washing machine factory in St. Petersburg 2014 Dishwasher with easy glide racks on all levels Flexible induction cooktops

22 22 Irvine Toronto New Bern LaFollette Casablanca Lima Buenos Aires Oslo Stockholm Ballerup Milton Keynes Nauen Amsterdam Berlin Warsaw L ó d ź Brussels Bad Neustadt Prague Luxembourg Bretten Giengen Regensburg Paris Lipsheim Dillingen Munich TraunreutBudapest Vienna Geroldswil Milan Nazarje Zagreb Santander Vitoria Estella Huarte Esquiroz Zaragoza La Cartuja Montañana Lisbon

23 23 Tel Aviv Dubai Dschidda Mumbai Seoul Chuzhou Nanjing Wuxi Taipeh Hongkong Bangkok Kuala Lumpur Singapore Jakarta Johannesburg Melbourne Auckland BSH Worldwide Helsinki St. Petersburg Moscow Plants: Cooking Refrigeration/Freezing Dishwashing Laundry/Drying Consumer Products Motors, pumps Rogoznica Kiev Group headquarters Subsidiaries/Sites Michalovce Belgrade Bucharest Sofia Çerkezköy Istanbul As of May 2014 Athens

24 inn. Nachhaltigkeit zum Ziel. ung hat die BSH Bosch und Siemens gemacht. Ob Genussmensch oder r Umweltschützer wir bieten weltweit zukunftsfähiger Technik, herausragenice und supereffizienten Hausgeräten. iden sich für unsere Produkte, weil sie lebenswerten Zukunft beitragen möchverantwortungsbewusstes Handeln ist ent unseres unternehmerischen Erfolgs unsere Kunden, die Umwelt und die ichzeitig unseren langfristigen Erfolg Geschäfts- und in unserem Nachhaltig-, der Geschäftsbericht auch als E-Paper, p.de Photo credit e GmbH p. 19 istockphoto n webphotographeer BSH Bosch und Siemens Hausgeräte GmbH Carl-Wery-Str Munich, Germany Tel Fax om Media contact: Corporate Communications weitere Publikationen Tel lich: Fax [email protected] BSH at a Glance and the publications listed below are available in German and English: Group Annual Report 2013 Sustainability Report 2013 Dieser Bericht wurde klimaneutral auf FSC -zertifiz Hello Silk Papier gedruckt. This publication was printed climate Änderungen, neutrally Irrtümer on FSC-certified vorbehalten. paper. Printed in Germany. Juni BSH Bosch und Siemens Hausgeräte GmbH. Right of amendment reserved, errors excepted. Nachdruck sowie Verwendung in allen Medien ist a Printed in Germany. May auszugsweise nur mit Genehmigung gestattet. BSH Bosch und Siemens Hausgeräte GmbH, 2014 Reproduction and use in all media, whether complete or in part, is subject to approval.