BSH clocks €15 billion revenue in 2025, bets on India premium push amid global slowdown
ADVERTISEMENT
BSH Home Appliances Group reported a turnover of €15 billion for 2025, navigating a difficult global environment marked by weak housing markets and geopolitical tensions, even as growth in India and other key regions helped cushion the impact.
The company said revenue declined 1.6% year-on-year after adjusting for currency effects, but rose 2.8% in local currency terms. “We have weathered difficult times well. It was a year with a lot of headwinds, but it showed that our roadmap for the future is working,” said CEO Matthias Metz.
India emerges as a key growth lever
BSH’s India business stood out, driven by premiumisation and rising demand for technology-led appliances. The dishwasher category surged 75%, aided by GST cuts between September 2025 and January 2026, making it the fastest-growing segment. Laundry volumes rose about 15%, while demand for built-in steam ovens jumped 30%, signalling a shift toward healthier cooking.
The company also recorded its highest-ever festive sales in India, with strong growth across dishwashers, cooking and laundry appliances. Reflecting the market’s importance, BSH will carve out India as a separate region starting 2026.
Looking ahead, the company plans to expand its product portfolio and localisation strategy. Its ‘Make-in-India-for-India’ approach in cooling appliances aims to cover everything from entry-level to premium refrigerators. It is also scaling up small appliances such as air fryers and mixer grinders, alongside launching Siemens coffee machines.
Investments in innovation and AI
BSH stepped up investments to sustain long-term growth. Research and development spending rose to €847 million, or 5.6% of revenue, while total investments stood at €463 million.
“Market-leading innovations, driven by investment and expenditure on research and development, are one of BSH's growth drivers,” said CFO Thorsten Lücke.
The company highlighted new AI-led products, including a built-in vacuum and mop robot, AI-enabled cooking solutions, and voice-controlled appliances.
Growth pockets offset China slowdown
Regionally, North America posted over 5% growth in local currency, driven by premium brands and built-in appliances. Europe grew 1.2% despite pricing pressure, supported by a 4% rise in built-in segment sales.
Emerging markets delivered 2.3% growth overall and 24% in local currency, supported by investments such as a new production facility in Cairo. In contrast, Greater China saw sales decline 7.1% amid continued market weakness.
Across product categories, cooking appliances saw a turnaround, with oven sales up 2% and hobs and extractor hoods rising 2.6%. Dishwashing grew 2.1%, while refrigeration and laundry declined 4% and 1%, respectively.
BSH expects market conditions to remain volatile in 2026, with no immediate recovery in sight. “We do not expect any tailwinds in 2026 either. But we have the foundation to prove ourselves even in difficult markets,” Metz said.
Even so, the company is targeting strong double-digit growth in India over the next five years, banking on rising incomes, premium demand and deeper distribution to drive expansion.