ST. GALLEN, Switzerland -- Robert Bosch GmbH can maintain its pretax profit margin this year at last year's improved level of 6.4 percent, the German industrial group said on Friday.
"Last year's level is achievable," Chief Executive Franz Fehrenbach said on the sidelines of a conference.
In 2004, the world's largest car-parts maker increased its pretax margin to 6.4 percent from 5 percent in 2003.
Fehrenbach told Reuters recently that Bosch would not reach its target of raising its pretax margin to 7 percent of sales this year.
On Friday the Bosch CEO also denied reports that Bosch was interested in acquiring South Korean automotive supplier Mando Corp., saying they had been "taken out of thin air."
Earlier this month the president of Bosch's Korean operations told a local newspaper that the group had been considering buying Mando, which delivers parts to the country's two largest carmakers, Hyundai Motor Co. and Kia Motors Corp.
A report in the Financial Times said the sale could fetch as much as $1.5 million to $2 billion.
JP Morgan Partners and Affinity Equity Partners have been considering disposing of their 72.3 percent stake in Mando, a spokesman for Mando said earlier this month.
Fehrenbach also said on Friday that discussions with carmakers were continuing over financial compensation after it supplied faulty car parts earlier this year.