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Sennheiser increases turnover in 2018

Sennheiser increases turnover in 2018

Sennheiser increases turnover in 2018

Sennheiser has reported turnover of €710.7m in fiscal year 2018, a 6.4% increase compared to the previous year. The German company also once again increased its R&D investment by 4.5%, reaching a total of €60.5m.

‘We are pleased to look back on a successful year,’ said Daniel Sennheiser, co-CEO. ‘Thanks to a consistent focus on the needs of our customers, we created a solid foundation for positive business development in 2018.’

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

The professional division generated turnover of €332.7m in fiscal year 2018, corresponding to an increase of €13.9m, or 4.3%, over the previous year. The evolution wireless G4 microphone system, IE 40 PRO in-ear monitoring headset and TeamConnect Ceiling microphone were credited with contributing most heavily to turnover growth. The consumer division meanwhile, generated turnover of €378m in the past fiscal year, an increase of €29.2m, or 8.4%, compared to the previous year. This was mainly due to an expanded Bluetooth headphones product range.

Geographically, the Asia Pacific region once again achieved the greatest rise in turnover of €158.5m. This was €17m, or 12%, more than in the previous year and came largely as a result of the manufacturer’s focus on the Chinese and Australia markets. South Korea also grew disproportionately.

In contrast, the EMEA region generated a year-on-year turnover increase of 2.3%, to €359.8m, while the Americas enjoyed a 10.3% turnover rise, taking it to €192.4m. The performance of the US dollar, which significantly depreciated in value against the euro over the course of the year, was said to have had a limiting effect.

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