Sennheiser reveals modest growth for 2009

After generating 385.8 million euros in 2008, Sennheiser recorded sales of 389.9 million euros for fiscal year 2009, representing a rise of 1.1 pc. Earnings for last year stood at 3.8 million.
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After generating 385.8 million euros in 2008, Sennheiser recorded sales of 389.9 million euros for fiscal year 2009, representing a rise of 1.1 pc. Earnings for last year stood at 3.8 million.

Volker Bartels, speaker for the Executive Team (pictured), reflected: “In view of the worldwide recession and the particularly difficult economic situation for Sennheiser in 2009 in the project business, that is an acceptable result.”

Sales of headphones were particularly strong, rising by 18.8%, but continued uncertainty concerning future wireless operation contributed to a 6.1% drop in wireless mic sales. Geographically, the Americas and Asia/Australia both performed strongly, with sales increasing by 8.3% and 8.9%, respectively. The biggest region, EMEA, saw a modest decline of 2.8%.

Looking ahead, Bartels said that the company was “expecting moderate growth for the year 2010. The effects of the economic crisis have not yet been fully overcome; for that reason, we are still conducting our business in a very cost-conscious manner. A slight recovery in the markets is noticeable, which is why we were able to end the short-time working announced in 2009. Our production facilities are working to capacity.”

Bartels also expects growth in the headphones segment, which will be given an additional boost this year by cooperation with adidas and the resulting sports headphones series. There is also a feeling that the outlook for wireless systems is becoming clearer: “The uncertainty among many users due to the re-allocation of radio frequencies has been relieved in some countries in Europe. In Germany, alternative frequencies in the UHF band were announced some weeks ago and we have already noticed a significant increase in orders.”

www.sennheiser.com

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