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Sennheiser Reports Record Revenues for F2010

WEDEMARK, GERMANY: Sennheiser electronic GmbH & Co. KG published its financial statement for fiscal 2010, reporting an increased sales of €468.2 million (US$673.6 million), compared to €389.9 million last year. This corresponds to an increase of 20.1 percent and is the largest sales in the company’s history. Profit increased from €3.8 million in 2009 to €22.6 million (US$32.5 million).

“All product groups and all markets have contributed to this positive result,” said Volker Bartels, spokesman for the Sennheiser 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.”

The largest part of the company’s revenues came from headphone sales, which contributed 34.9 percent of total revenues. Following this was wireless microphone sales (25.5 percent), communications products (8.1 percent) and then wired microphones (7.4 percent). Audiology products made up 6.6 percent of revenues and professional headsets made up 4.5 percent. Georg Neumann GmbH contributed 3.6 percent with studio microphones and studio monitors. The conference and information systems sector contributed 3.3 percent.

Despite a global shortage of electronic components, Sennheiser said it was able to increase production in 2010, thereby overcoming the immediate effects of the global economic and financial crisis. Sales in the Americas alone increased by 26.5 percent over 2009, totaling €125.6 million (US$180.7 million). Asia sales were up 35.6 percent to €57.9 million (US$83.3 million).