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Sennheiser generates turnover of 710.7 million euros in fiscal year 2018

Sennheiser increased its research and development investment to a total of €60.5 million in 2018 – 4.5 per cent more than in the previous year

The Sennheiser Group has announced that it generated turnover of €710.7 million in fiscal year 2018, which corresponds to an increase of €43.0 million, or 6.4 per cent, compared to 2017. EBIT amounted to €21.2 million.

Sennheiser increased its research and development investment to a total of €60.5 million in 2018 – 4.5 per cent more than in the previous year.

“Thanks to a consistent focus on the needs of our customers, we created a solid foundation for positive business development in 2018,” said Daniel Sennheiser, co-CEO of the company.

“As an independent family business, we act in the long term and have invested in strengthening our core competencies in recent years. This is now reflected in a very successful product portfolio,” explained Dr. Andreas Sennheiser, co-CEO of Sennheiser.

The company started the fiscal year 2018 with a new organisational structure with a clear focus on the consumer and professional divisions. While Sennheiser’s professional division continues to focus on wireless microphone technology and intelligent solutions for meetings and conferences, the company’s consumer division is focusing on “Smart & Connected” audio experiences. Both divisions experienced a slight increase in turnover.

The professional division generated turnover of €332.7 million in fiscal year 2018. This corresponds to an increase of €13.9 million, or 4.3 per cent more than the previous year. The evolution wireless G4 microphone system, the IE 40 PRO in-ear monitoring headset and the TeamConnect Ceiling microphone for conference applications especially contributed to turnover growth.

The consumer division generated turnover of €378.0 million in the past fiscal year, an increase of €29.2 million, or 8.4 per cent more than 2017. In particular, the expanded product range of Bluetooth headphones had a positive effect. Most recently, Sennheiser launched the MOMENTUM True Wireless.

Turnover in the APAC region amounted to €158.5 million in 2018. This is €17.0 million, or 12.0 per cent more than in 2017. Sennheiser’s focus markets in China and Australia made a particular contribution, and the South Korean market grew disproportionately.

The EMEA region generated a year on year increase in turnover of €8.1 million, or 2.3 per cent, to €359.8 million. In its home market Germany, Sennheiser was able to increase turnover by 1.7 per cent, or €1.6 million, for a total of €101.2 million.

In the Americas region, turnover increased by €17.9 million, or 10.3 per cent, year on year to €192.4 million. The performance of the US dollar, which significantly depreciated in value against the euro over the course of the year, had a limiting effect.

“In order to create innovative audio experiences for our customers and to shape the future of the audio industry, we are continuously investing in our research and development,” explained Dr. Andreas. Thus, Sennheiser’s investment in 2018 increased by 4.5 per cent to €60.5 million from 2017, which corresponds to 8.5 per cent of turnover. “This not only enables us to develop new products faster, but to also do so together with our customers. As an example of such cooperation, we developed the new Digital 6000 mini bodypack SK 6212, which has been very well accepted by the market”.

Sennheiser’s AMBEO technology programme remains an important strategic component of the consumer and pProfessional divisions: “We are convinced that 3D audio is the future of the audio industry. That’s why we will continue to do research in this area, integrating 3D audio into other products and bringing this unique sound experience to our customers – whether it’s through recording, mixing or playback,” said Daniel.

On an annual average in 2018, the Sennheiser Group employed 2,734 people (previous year: 2,728). At the end of the year, the number of Sennheiser Group employees was 2,885 (previous year: 2,833). These were employed approximately equally within (51 per cent) and outside of Germany (49 per cent). The number of trainees worldwide totalled 62, compared to 63 the previous year.