(Reuters) -German automotive supplier Robert Bosch said on Thursday it expects 2025 sales to grow a currency-adjusted 1% to 3%.

Volatility in global trade makes the forecast fraught with uncertainty, the company said, also citing a difficult business environment in its main markets but also possible tailwinds from state infrastructure investment programmes."The consequences of additional tariffs and possible economic effects from European and German infrastructure investments also make an assessment more difficult," it added.

In the first quarter of 2025, Bosch sales rose 4% compared with the same period last year.

In contrast, German peer Schaeffler ( SCAFF ) on Wednesday posted a first-quarter revenue decline of 2.9%, citing general softness in the industry.

Bosch confirmed its operating margin target of 7% for 2026, though calling it "an extremely challenging".

Bosch added that it expects the number of jobs at the company to decline further, particularly in Germany and Europe.