The Sennheiser Group has announced that it closed the 2021 financial year with generated sales of €636.3 million and earnings before interest and taxes (EBIT) of €31.6 million, recording sales growth of €62.8 million in a year influenced by the effects of the global pandemic and through the repositioning of the company.
After more than 50 years, the Sennheiser Group will from 2022 once again focus entirely on the professional audio business. Divided by divisions, the turnover in the Professional Division amounted to €371.4 million, while the Consumer Division generated an operating turnover of €264.9 million.
“We can look back on a very good financial year and, at the same time, have laid all the foundations for a successful future as a professional audio company,” states co-CEO Daniel Sennheiser. “Although the event industry initially remained influenced by uncertainty at the beginning of the year, it was important for us to move confidently into the future,” adds co-CEO Andreas Sennheiser.
The Sennheiser Group generated sales of €636.3 million and earnings before interest and taxes (EBIT) of
With the Pro Audio, Business Communications and Neumann business units, the Professional division achieved sales of €371.4 million, representing growth of 20.6 percent compared to the previous year. Growth was driven by the upswing in the event and music industry, the growth in business with Neumann’s studio products, and increased demand for professional meetings due to newly emerging formats of hybrid working and learning in the Business Communications area. The Consumer Electronics division achieved sales of 264.9 million euros, only slightly below the previous year’s level.
The group’s turnover growth was reflected in all regions. From a global perspective, EMEA remained the market with the largest sales at €279.7 million in 2021; growth here compared to the previous year was 0.4 percent. In the APAC region, sales amounted to €166.0 million, representing growth of 14.8 percent. The Americas region generated a total of 190.6 million euros; the largest increase in turnover was achieved here with 26.8 percent.
In 2021, the EMEA region continued to be the region with the highest turnover with €279.7 million. In the APAC region, Sennheiser generated turnover of €166.0 million and in the Americas region €190.6 million.
In 2021, the EMEA region continued to be the region with the highest turnover with €279.7 million. In the APAC region, Sennheiser generated turnover of €166.0 million and in the Americas region €190.6 million.
Daniel Sennheiser says, “We will invest, for example, in innovative technical solutions and new distribution channels. These are the best prerequisites for continued success in the future.” The company further states that it invested significantly in fiscal year 2021: €49.4 million went into the development of new products and technologies, corresponding to 7.8 percent of total revenue.
Effective March 1, 2022, Sennheiser’s Consumer business has been fully transferred to Sonova AG, and together, the two companies will operate under the Sennheiser brand umbrella. “The year 2021 has shown that this company and the entire Sennheiser team are capable of achieving incredible things,” says Andreas Sennheiser. “To restructure the group, to carve out a business segment, to redevelop strategies for all areas and, in parallel, to realize an extremely successful and growing business, is an incredible achievement by all employees.”
Like many companies, the Sennheiser Group is confronted with challenges in the supply chains as well as geopolitical developments, including the limited availability of chips worldwide as well as the effects of Russia-Ukraine war. “The regionalization of supply chains has already begun; and this will also have an impact on our business,” says Andreas Sennheiser. “We are therefore continuously aligning ourselves with the ever-changing framework conditions and developing our business processes – especially our supply chain – accordingly.
In the Business Communications business area, the company states that it plans to expand its portfolio of audio products for universities and corporate meeting rooms in the coming years. In the Pro Audio segment, the company plans to focus on complementary software solutions formore optimal workflows are to expand the range. In particular, Sennheiser sees growth opportunities in growing markets for semi-professional applications such as audio-for-video.
The Neumann business area growth plan includes a strong focus on digital workflows and enhanced software and service. An example is Neumann’s collaboration with the Swiss company Merging Technologies, which has been part of the Sennheiser Group since July 1, 2022.
Go here for the annual report, including an interview with Andreas and Daniel Sennheiser.
