OLD LYME, CT— Sennheiser electronic GmbH & Co. KG is reporting an 18.7 percent increase in turnover for the 2006 financial year. With sales up by 18.7 percent, the Sennheiser Group has exceeded the 14.8 percent growth it enjoyed in 2005.
"All our markets worldwide have been developing well with all industrial divisions in the Sennheiser Group contributing to this double-digit growth," says Volker Bartels, speaker for the executive team and president of manufacturing and logistics.
Development in the consumer electronics segment, increasing internationalization of all teams and the opening up of new growth markets contributed to the record year. The company’s workforce also increased by eleven percent to 1,852 worldwide.
Around 82 percent of the company’s sales were generated outside Germany, with the strongest performance again coming from the Americas, where sales increased by 15.2 percent. Western & Southern Europe and Africa grew by 13.2 percent, followed by Central Europe, which recorded sales up 19.1 percent from 2005.
The biggest growth market was the Northern and Eastern European region, which saw a 36.4 percent increase due to the creation of Sennheiser Nordic A/S in 2005 and the subsequent reinforcement of its sales structure. The Asian and Australian market generated a rise of 14.3 percent.
Wireless microphones generated the most sales revenue in the Sennheiser Group with a year-on-year growth of 15.4 percent. Strongest sales increase went to the headphone segment, which was up 39.8 percent thanks primarily to the demand for new mobile solutions.The Sennheiser Communications joint venture grew by 39.5 percent.
"We are hoping for continued growth through our new companies in Russia and India," Bartels adds. "Sennheiser Audio in Moscow and Sennheiser Electronics India near New Delhi are going to tap into huge growth markets for Sennheiser, and along with Sennheiser Consumer Electronics GmbH we are aiming for further growth in this fiercely competitive segment."
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