Sennheiser Group Announces Record Turnover in Fiscal Year 2015

Record turnover, strong growth in key regions, and numerous new products: the Sennheiser Group, which recently published its annual results, can look back on a successful fiscal year 2015 that underscored its objective of shaping the future of the audio industry. Total turnover rose by 7.5% to €682.2 million. Across all global regions, the company’s turnover developed significantly, particularly in the Americas and APAC. Profit before taxes in 2015 amounted to €30.3 million.

sennheiser-logoThe Sennheiser Group ended fiscal year 2015 on a successful note and once again reported a considerable increase in turnover.

“Having achieved record turnover once more, we continue to drive the growth trend seen over the past few years,” says Daniel Sennheiser, co-CEO of Sennheiser GmbH & Co. KG. “It demonstrates that our strategy of long-term and sustainable growth is successful in all regions.” Dr. Andreas Sennheiser, co-CEO of Sennheiser GmbH & Co. KG, adds: “This is precisely what makes us strong as a family-run business: we do not have to focus on attaining short-term financial goals, but can consistently concentrate on perfecting the customer’s experience – with the clear vision to shape the future of audio.”

The Americas and APAC drive growth
All three of the Sennheiser Group’s business regions showed successful turnover figures. For Andreas Sennheiser, this is the direct result of a well-balanced strategy: “We tapped into new regions and markets, such as Korea and Latin America, while still retaining our focus on existing, large markets.” Growth was particularly robust in the Americas region (North, Central and South America), where the group generated turnover of €179.8 million, which represents a €26.8 million, or 17.5%, increase on the previous year.

With turnover growth of €14.6 million, an increase of 11% compared to fiscal year 2014, the APAC region (Asia and Australia) saw a marked improvement as well. Overall, the Sennheiser Group reported turnover of €147.2 million in this region.

EMEA (Europe, Middle East and Africa) remains Sennheiser’s strongest region economically, with a total revenue of €355.2 million and modest growth of 1.7%. Germany once again saw double digit revenue growth. “We are particularly pleased that we were once again able to significantly expand our already strong position in our domestic market,” Daniel Sennheiser states.

The company generated 84.5% of its revenue outside Germany in fiscal year 2015. The Sennheiser Group currently has 19 sales subsidiaries and long-standing trading partners in more than 50 countries around the world, and will continue to pursue its strategic goal of expanding its global business in the future.

Strong increase in turnover in both business divisions
Both the Consumer Electronics Division and Professional Systems Division registered growth in 2015: Turnover improved by 10.9% to €347 million in the Professional Systems Division and the Consumer Electronics Division registered a 4.1% increase to €335.2 million.

The fiscal year was marked by a series of new product developments and launches. With the launch of the evolution wireless D1 for live music and AVX for video journalists, the Professional Systems Division added new digital systems to its wireless microphone portfolio in the first half of 2015. The Consumer Electronics Division introduced the second generation of the successful MOMENTUM headphone family – including a wireless version – and the digital RS line wireless headphone system for audio and video home entertainment.

Employee figures up worldwide
The Sennheiser Group employed around 2,750 people worldwide at the end of 2015. Throughout the year, the group had an average of 2,704 employees – a 4% increase on the previous year. An average of 51 percent of all employees worked in Germany and 49% abroad. The number of trainees worldwide totaled 76, marking the same level as in the previous year.

Investments in the future
Investments in research and development increased by 8.5% to €46.9 million in fiscal year 2015. This corresponds to 6.9% of the Sennheiser Group’s total turnover. As in the previous year, the number of employees in research and development continued to rise, up 4.7% year on year to 354 employees in 2015. In addition, Sennheiser bolstered its strength in innovation by investing in the company’s headquarters in Wedemark. The Innovation Campus, officially opened in 2015, is the most state-of-the-art innovation center in the audio industry.

“Our investments in research and development show clearly that at Sennheiser, we refuse to wait around to see what the future will bring. We’re shaping it ourselves instead,” says Andreas Sennheiser. “This innovative power is evident in our new high-end headphone HE 1, launched in November 2015. With its unique features such as maximum reproduction precision, exceptional spatiality and a frequency range that far exceeds human hearing, it is the best headphone in the world. As the leading audio specialist, it is our responsibility to develop solutions that are made for the future together with our customers. We have all of the necessary skills and expertise to do just that,” adds Daniel Sennheiser.

Outlook 2016: “Shape the Future of Audio”
Sennheiser will pursue its goal of actively shaping the world of audio as a pioneering company in the future. This aim is reflected in the company’s vision “Shape the Future of Audio”. “Any company aiming to take a lead has to have a clear vision and be able to embark on new paths together with its customers,” Daniel Sennheiser explains. “This ethos is at the heart of our vision.”

Andreas Sennheiser adds: “The audio sector is on the verge of experiencing a renaissance. For customers, new formats and new ways of producing and consuming music continue to emerge – technologies that we have been researching for many years already.”

A key element of the research activities at Sennheiser is the further development of AMBEO. The innovative 3D immersive audio technology program offers a unique spatial sound experience. “We are currently developing products in four core areas: recording, mixing, processing and reproduction. Our virtual-reality microphone will be the first official AMBEO product. As soon as it is ready for mass production this year, it will have a considerable impact on the future of virtual-reality content,” says Daniel Sennheiser.

The Sennheiser Group also anticipates a successful year in 2016. “We got off to a good start to the year and have already presented our customers with some exciting new launches,” said Andreas Sennheiser. “We will continue on this path during the course of the year and fulfill our commitment to shape the future of the audio industry.”

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