Bosch aims for higher sales in 2016

Bosch, the German maker of car parts and electrical appliances, said Wednesday it met its full-year targets in 2015 and is aiming to lift sales again this year.

"According to preliminary figures, the Bosch group was able to lift sales by around 10 percent to top the 70-billion-euro ($76-billion) level for the first time in 2015," the company said in a statement.

Profits also increased with earnings before interest and tax (EBIT) amounting to around five billion euros, the statement continued.

Adjusted for one-off effects, EBIT totalled 4.5 billion euros and the operating margin stood at 6.5 percent.

"In a challenging economic environment with stagnating markets, we were able to continue our growth trend," said chief executive Volkmar Denner, adding that interconnected solutions were the main growth driver.

Looking ahead, Bosch said it was "cautiously optimistic" for the current year.

"We must be prepared for stronger fluctuations in the markets, depending both on region and industrial sector," said chief financial officer, Stefan Asenkerschbaumer.

"From a geopolitical point of view, the environment will remain very complicated with many uncertainties. Nevertheless, Bosch aims to continue to grow more strongly than the relevant markets," he said.

"Despite massive investment, earnings and margins are expected to continue to improve," Asenkerschbaumer added.