Sennheiser electronic GmbH & Co. KG published its financial statement for the business year 2010, reporting increased sales of $665.41 million, compared to $554.13 million last year.
This corresponds to an increase of 20.1 percent and is the largest increase in revenue in the company’s history. Profit increased from $5.4 million (in 2009) to $32.12 million.
“All product groups and all markets have contributed to this positive result,” said Volker Bartels, Spokesperson of Sennheiser’s Executive Management Board. “One of the important factors that contributed to this result was the revival of the professional side of our business and the highly positive growth at the end of the year, particularly in the consumer segment.”
“Now we have to stabilize this dynamic growth and further expand our business.” On average in the year 2010, the Sennheiser Group employed 2,117 people, 1,153 of them in Germany.
Consumer business remains the product sector with the highest sales. The largest part of the company’s sales came from headphone sales, which contributed 34.9 percent of total sales. Following this was wireless microphone sales (25.5 percent), then Sennheiser communications products (8.1 percent) and then wired microphones (7.4 percent). Audiology products made up 6.6 percent of the total turnover and professional headsets made up 4.5 percent. Georg Neumann GmbH contributed 3.6 percent of the total turnover with studio microphones and studio monitors. The conference and information systems sector contributed 3.3 percent.
Despite a global shortage of electronic components, Sennheiser was able to increase production in 2010, thereby overcoming the immediate effects of the global economic and financial crisis.
Sennheiser also mades strong gains in Asia, the Americas and Central Europe. Thanks to market growth, Sennheiser managed to reach double-digit figures for its growth rate in all sales regions in 2010.
In particular, Asia influenced growth in the elecronics industry. In the the “Asia and Australia” region, sales increased from $65.23 million in 2009 to $84.85 million in 2010, an increase of 35.6 percent.
“This positive development shows us that using our own sales subsidiaries on the ground was the right strategic decision,” affirmed Volker Bartels. The audio specialist also grew in the Americas. Sales increased massively by 26.5 percent compared to last year up to a total of 125.6 million Euros.