Endress+Hauser achieves solid earnings
Sales stagnate at 2.1 billion euros
Compared to the industry, the Endress+Hauser Group performed well in 2016. While sales grew based on local currencies, the Group experienced a slight decline when consolidated in euros. The earnings situation is solid and the workforce increased slightly from the prior year. The Swiss specialist for measurement and automation engineering continues to invest heavily in its future.
Net sales fell in 2016 by 0.2 percent to 2.139 billion euros. “Currencies created a headwind for us last year,” said CEO Matthias Altendorf at the company’s annual media conference in Basel, Switzerland. Foreign exchange rate effects drove down sales by 50 million euros. “Based on local currencies, we grew sales by 2.1 percent.” When calculated in Swiss francs, the holding company’s actual reporting currency, revenues increased by 2.2 percent. Endress+Hauser clearly lagged behind its own expectations. Matthias Altendorf nevertheless emphasized: “When compared to overall industry growth, however, we held our own.” Most companies in process automation felt the impact of slower global economic development and fundamental structural changes in the worldwide economy. “Despite a healthy economy, companies were cautious about investing in industrial goods in 2016,” said the CEO.
Endress+Hauser is targeting a single-digit increase in net sales for the current year. The company also wants to improve profitability. 161 million euros have been set aside for new buildings, plant and machinery and the company intends on creating up to 150 new jobs globally. “We are currently ahead of plan related to incoming orders,” said Matthias Altendorf. Despite growing political uncertainties around the world, the CEO is confident the Group can achieve sustainable growth again in 2017.