Sennheiser 2009 Annual Report Download - page 29

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56 CON S OLID ATED MANA G EMEN T REP ORT 2 010 57
CON SOLI D ATED MANA GEME N T RE P ORT 2010
From all individual markets, turnover in the Americas managed to grow by 26.5% year on year.
After declining by 2.8% in the previous year, EMEA, the largest region, grew by more than 14.8%.
This figure includes Central Europe with 17.9%. During the same period, the gross profit margin went down from 63.7% in the previous year to
60.2% on account of changes in inventories. Results from ordinary activities, on the other hand,
went up from €9.4 million to €38.3 million, as the rise in turnover considerably overcompensat-
ed for the rise in expenses. In operating expenses, the largest increases were recorded for
personnel costs at €13.3 million and other operating expenses at €31.7 million.
The Sennheiser Group expects that it will continue moving on a medium-term growth path in
2011. The new business divisions for the target markets Consumer Electronics, Professional
Systems and Installed Sound will target their markets even more specifically and release new
energies in the company thanks to their clear customer focus and strategic orientation.
Headphones
Sennheiser Communications
Professional Headsets
Georg Neumann
Conference and Information Systems
2010
34.9 %
Wireless Microphones
25.5 %
8.1 %
Wired Microphones
7.4 %
Audiology
6.6 %
4.5 %
3.6 %
3.3 %
TURNOVER BY PRODUCT GROUP TURNOVER BY REGION IN MILLIONS OF EUROS
91.7 99.3
125.6
26.3
26.5 %
Americas
253.7 246.5
282.9
36.4
14.7 %
EMEA
40.4 44.0
59.7
15.7
35.6 %
Asia and Australia
2008 (€ millions) 2009 (€ millions) 2010 (€ millions) Change (€ millions)
Outlook
Change from previous year, in percent