German technology group Robert Bosch expects 6% to 9% revenue growth this year from 88.2 billion euros ($97.49 billion) in 2022 and an EBIT margin of 5%, up from 4.3% last year, it said on Thursday thanks to growth in both its cars and heating systems businesses.

The transformation of energy systems to protect the climate creates business potential, Bosch Chief Executive Stefan Hartung said, making clear that opportunities lay in both the electrification of cars and heating systems.

“Growth is not only on the road, even though we are very successful there,” he said.