| Sennheiser results 2006: strong growth generates record sales once again |
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Sennheiser electronic GmbH & Co. KG is reporting an 18.7 per cent increase in turnover for the 2006 financial year to 356.5 million euros. “All our markets worldwide have been developing well,” said Volker Bartels, Speaker for the Executive Team and President, Manufacturing and Logistics, “with all industrial divisions in the Sennheiser Group contributing to this double-digit growth.” Good development in the consumer electronics segment, increasing internationalisation of all teams and the opening up of new growth markets have all contributed to the audio specialist’s record year. The good sales performance was also reflected in employment figures, with Sennheiser increasing its workforce by eleven percent to an average of 1,852, some 1,000 of whom are employed in Germany.
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With sales up by 18.7 per
cent, the Sennheiser Group has exceeded the 14.8 per cent growth it enjoyed in
2005; over the same period
turnover increased from
300.4 million euros to 356.5 million euros and earnings
rose from 13.0 to 16.9 million euros. “This kind of success has been made possible in particular by our strong performance in professional wireless technology and consumer electronics, all the hard work done in marketing, development and production and the fantastic dedication of our sales subsidiaries and partners in their respective markets,” explained Volker Bartels. |
Prof. Dr. Jörg Sennheiser, Chairman of the Supervisory Board of Sennheiser electronic GmbH & Co. KG |
Outstanding results across all regions
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The Sennheiser Executive Team (l/r):
Paul Whiting, Sabine Wittenbrink-Daut,
Stefan Junker, Susanne Seidel,
Volker Bartels and Dr. Heinrich Esser
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Around 82 per cent of Sennheiser’s turnover was generated outside Germany,
with the strongest performance again coming from the Americas, where sales increased by 15.2 per cent to 102.4 million euros. Western & Southern Europe and Africa grew by 13.2 per cent to 85.7 million euros, followed by Central Europe which recorded sales of over 72.7 million euros, up 19.1 per cent. The share
from the domestic German market rose from 52.5 to 63 million euros – a 20.1 per cent growth. |
The biggest growth market was the Northern and Eastern European region which saw a 36.4 per cent increase in turnover to 63.3 million euros. The market benefited from the creation of Sennheiser Nordic A/S in 2005 and the subsequent reinforcement of sales structures in the Nordic region. The Asian and Australian market generated turnover of 32.4 million euros – a rise of 14.3 per cent.
Sales on the up across all segments
Wireless microphones generated most sales in the Sennheiser Group, with year-on-year growth of 15.4 per cent to 94.2 million euros. Sennheiser recorded the strongest growth in the headphone segment which was up 39.8 per cent to total sales of 93.3 million euros, primarily thanks to the demand for new mobile solutions. The next largest contribution to turnover came from wired microphones (35.2 million euros), conference technology (23.7 million euros), audiology (24.5 million euros) and aviation (9.3 million euros). Sales generated for the Sennheiser Group by telecommunications products from the Sennheiser Communications joint venture grew by 39.5 per cent to 21.5 million euros. The product segments of Georg Neumann and Klein + Hummel generated sales of 15.9 million euros and 2.9 million euros, respectively.
Production and Development
Output from Sennheiser sites rose by 15.7 per cent, with marked improvements in materials management and the supply chain resulting in greater profitability in Sennheiser’s plants in Germany, Ireland and the USA. The Research and Development division was boosted in 2006 with the number of developers employed rising from 163 in 2005 to 180 in 2006. Product highlights in 2006 included the earphones of the Street, Sports and Style lines and new infra-red and radio systems for transmitting TV sound. Amongst the professional products, popular models were the SK 5212 bodypack transmitter, the EK 3241 camera receiver and the NET 1 network system for controlling complex wireless microphone equipment. In this context, there is cause for concern because of the trade in frequencies in many countries: “Frequencies currently being used for wireless microphones and wireless monitoring are being threatened by sales to new services such as DVB-H or wireless DSL,” explained Volker Bartels. “This is threatening the entire event and entertainment industry – we could soon see the day when stars have to appear with long microphone cables again.”
Excellent outlook for 2007
The first six months of 2007 have also gone very well for Sennheiser. “We are hoping for continued growth through our new companies in Russia and India,” Volker Bartels said. “Sennheiser Audio in Moscow and Sennheiser Electronics India near New Delhi are going to tap into huge growth markets for Sennheiser, and with Sennheiser Consumer Electronics GmbH we are aiming for further growth in this fiercely competitive segment.”
The Sennheiser Group is one of the world’s leading manufacturers of microphones, headphones and wireless transmission systems. A family firm established in 1945 and based in Wedemark near Hanover, the company recorded sales of over 356 million euros in 2006, 82% of which was generated abroad. Sennheiser employs over 1,800 people worldwide, around 55% of whom are in Germany. The Group has manufacturing plants in Germany, Ireland and the USA and is represented worldwide by subsidiaries in France, the UK, Belgium, the Netherlands, Denmark (Nordic), Russia, Hong Kong, India, Singapore, Canada, Mexico and the USA, as well as through trading partners in other countries. Also part of the Sennheiser Group are Georg Neumann GmbH, Berlin (studio microphones), K + H Vertriebs- und Entwicklungsgesellschaft mbH (Klein + Hummel studio monitors, installed sound) and the joint venture Sennheiser Communications A/S (headsets for PCs, offices and call centres).
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You can find out the latest information on Sennheiser by visiting http://www.sennheiser.com/ or by contacting:
Sennheiser electronic GmbH & Co. KG
Press Office • Edelgard Marquardt
Am Labor 1 • 30900 Wedemark
Tel: +49 (5130) 600-329
Fax: +49 (5130) 600-295
e-mail: marquare@sennheiser.com
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Tel: +49 (40) 899 699-976
Fax: +49 (40) 899 699-30
e-mail: sah@fischerappelt.de
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