Endress+Hauser
Sales fall, profit remains stable
Endress+Hauser has come through the crisis year 2020 well. However, the Group's consolidated sales fell by almost 3 %, strongly influenced by exchange rate effects.
Consolidated turnover fell to just under 2.6 billion euros. Even a strong laboratory business was only able to partially offset the shortfalls in the process automation segment, which was hit harder by the consequences of the coronavirus pandemic. While sales development in the past year therefore fell well short of targets, the Group maintained its profit at a high level. " Endress+Hauser 's financial solidity has not suffered during the crisis," emphasizes CFO Dr. Luc Schultheiss. The company was able to avoid short-time working and even slightly increase employment. At the end of 2020, Endress+Hauser had more than 14,400 employees worldwide, over 100 more than a year ago.
Endress+Hauser has always been able to deliver despite the pandemic. CEO Matthias Altendorf believes the company is well equipped, even if the coming months will continue to be impacted by the coronavirus crisis: "Our innovative strength is unbroken. We will launch more new products on the market in 2021 than ever before."
For the current year, the Group is expecting growth in the single-digit percentage range, but sees profits under greater pressure. The company does not expect a fundamental recovery in the global economy until the end of the year.
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