The Sennheiser Group achieved sales of €492.3 million in fiscal year 2024, down 6.6% on 2023's figure ($527.2m) in what it described as 'volatile market conditions'.
"2024 was a challenging year for us, as it was for many companies in our industry,” explains Co-CEO Andreas Sennheiser. The company recorded a slight decline in sales across all regions, totaling 6.6% compared to the previous year. “But especially in a dynamic environment, it is crucial to remain a reliable partner.”
The development of the individual sales markets varied in the past year: The EMEA region was the strongest market in terms of sales, generating total sales of €232.1 million – a decline of 3.5% compared to the previous year.
The domestic market in Germany saw a growth of 3.5%. The Americas recorded a decline of 16.1% to $150.5m. Political and economic uncertainties in the US and a subdued consumer climate had a particularly negative impact on demand.
By contrast, the APAC region performed well: growth of 2.3% to $109.7 million, driven by a strong market in China and new sales channels in India, enabled a stable result to be achieved.
In 2024, the Sennheiser Group invested a total of $48.9m (around 10% of total sales) in R&D and in the expansion of sustainable business processes. An additional $3.1m was invested in digital transformation: new backend systems and an expanded cloud architecture form the basis for the implementation of digital business models. Sennheiser invested a further $13.7m in its own production sites in Germany and Romania, $12.2m of which went to the plant in Wedemark near Hanover.