Endress+Hauser Achieves Top Marks in 2014
In 2014, Endress+Hauser increased net sales by approximately 11 percent, exceeding the 2 billion euro mark. The Swiss measurement and automation engineering specialist also improved operating profit as well as profit before taxes and net income.
“In view of the worldwide political and economic challenges, we can be very satisfied with these results, even if we haven’t met all of our targets,” said Chief Financial Officer Dr Luc Schultheiss. Overall developments in the foreign exchange rates created a slight tailwind last year. The recently acquired subsidiaries, on the other hand, put pressure on results, with the fall of the ruble necessitating significant provision for losses at Analytik Jena.
The figures of German laboratory analysis specialist, Analytik Jena, with over 1,100 employees, and US company Kaiser Optical Systems operating in the field of spectroscopy with about 80 employees have been consolidated for the first time for the entire financial year. In addition, a new sales center started operations in the United Arab Emirates at the start of 2014. According to Luc Schultheiss, the Group’s organic growth in net sales reached just under 6 percent.
Employment levels developed very positively. At the end of 2014, Endress+Hauser employed 12,435 people worldwide, 516 more than in the previous year. Endress+Hauser will present the detailed annual report at a media conference on financial statements in Basel on 5 May 2015.
Strength of the Swiss franc poses additional challenges
The CFO sees prospects for the current year somewhat dampened by the abandonment of the minimum exchange rate by the Swiss National Bank. Although the Endress+Hauser Group does manufacture in Switzerland, most of its production is located in the eurozone as well as in areas that use the US dollar. “At present the impact is completely uncertain. We therefore have to observe future developments very carefully,” said Luc Schultheiss.
Source: Endress+Hauser AG