Endress+Hauser achieves growth in local currencies
Financial year 2016: exchange rate effects dilute revenues in euros
Despite difficult market conditions last year, Endress+Hauser grew the business on a local currency basis. In euros, however, consolidated net sales declined marginally by 0.2 percent to slightly more than 2.1 billion euros, mainly due to the impacts of exchange rates.
“In local currencies, we grew the business by 2.1 percent,” said Chief Financial Officer Dr Luc Schultheiss. Preliminary figures for the financial year 2016 show the company held costs under control. “Although return on sales fell, as in the past we are still performing at a solid level,” emphasized the CFO. With a global workforce of 13,003 at the end of 2016, an increase of 51 on the previous year, employment remained constant within the Group.
According to CEO Matthias Altendorf, a worldwide slowdown in economic growth, as well as fundamental changes in the global economy, left their mark on the figures. In addition, some international subsidiaries grappled with structural problems. “Two-thirds of our sales entities achieved growth while operating profitably. Nevertheless we failed to reach our ambitious objectives,” said the Group’s CEO. “But compared to the rest of the industry we performed well.”Despite positive economic signals in individual markets, Matthias Altendorf expects 2017 will continue to be a challenge, not least given that political uncertainties have increased once again. Regardless, with an upturn in the business over the past several months, the CEO is looking forward with a sense of confidence.