Sennheiser 2010 Annual Report Download

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www.sennheiser-annualreport.com
COVER PHOTO
British photographer Nick Veasey has a passion for making the invisible visible.
By x-raying his subjects, he is able to create a whole new world of images,
unmasking a beauty that has never been seen before.
Like this delicate and fragrant flower.
080895 Printed in Germany
Annual Report 2010
Annual Report 2010
smelling
and tasting
sound

Table of contents

  • Page 1
    ... Nick Veasey has a passion for making the invisible visible. By x-raying his subjects, he is able to create a whole new world of images, unmasking a beauty that has never been seen before. Like this delicate and fragrant flower. Annual Report 2010 Annual Report 2010 080895 Printed in Germany

  • Page 2
    ... than the composer of the well-known theme songs for Das Boot and the German TV series Tatort? During an interview in his studio, Klaus Doldinger gives us his insights into the saxophone's sensuality and the importance of choosing the right microphone. What's more, we teamed up with a culinary...

  • Page 3
    ... hystems Division and Installed hound Division daniel Sennheiser President, htrategy and Finance dr. andreas Sennheiser President, hupply Chain Division volker Bartels President, Corporate hervices, hpokesperson of the Executive Management Board Paul Whiting President, Global hales Division

  • Page 4
    ... product designers create sounds, smells and flavors that shape our overall brand experience. When the bass booms, he fills the club with the smell of amber. And when the clubbers start to get rowdy, he atomizes bergamot. ODO7 is no ordinary DJ - he's an aroma jockey. The old rule of thumb: white...

  • Page 5
    .... It's different with music. I get the same feeling of sound and emotion from listening to a faithfully reproduced musical performance - meaning a good recording taken up by perfectly matched instrumental, vocal and studio microphones. Submerging oneself in fragrance or music isn't just a matter...

  • Page 6
    ... the occasion of his 75th birthday, Doldinger talks about music's sensuality and gives his insight into how to choose the right microphone. Is there a smell or taste to music? (Laughs) That would make it all the better. When music grabs you, it evokes all kinds of feelings, though I am not sure one...

  • Page 7
    ..., I learned the most about sound technology in the late 1970s, when I set up my own studio. I had a room that we used for recording - sometimes even with two microphones. In other words, we started out very, very small. Today's music software is making a lot of studio equipment obsolete. Would it be...

  • Page 8
    ... musician's belt. The microphone 3 is usually located near the righthand valve keys so that the sound is amplified evenly. TEnoR SAXoPHonE dynamic microphone In the studio, tenor saxophonists use dynamic microphones fitted on a stand 1. The microphone 2 is tilted toward the opening of the saxophone...

  • Page 9
    ...17 17 On-site research: The food hunter has no qualms in asking the local women for their family recipes. His own special recipe for stumbling upon culinary exotics. of lost Raiders flavors Mark Brownstein is a culinary treasure hunter. A food hunter, he scours the markets of Asia in search of...

  • Page 10
    ...'s fabulous! Everything is made in this case the "feel in the mouth," is just as important. fresh here. You can even watch as it's being prepared." "Consistency" and "texture" are important entries in a chef's He sounds like the soundtrack for the TV series vocabulary. Brownstein believes that every...

  • Page 11
    .... song. Brownstein has started to record these nano-sounds. The From the jungle to the tables of the world's finest restaurants popping of Arborio rice near The crowd is thick. Hard going for Alok, the cameraman. Only soundman Mathews Risotto; ant eggs bursting. By grins beneath his Sennheiser...

  • Page 12
    ... what we hear, Cabernet Sauvignon tasted 60 percent richer and more robust when listening to a powerful piece of classical music, while white wine tasted particularly lively and fresh when enjoyed to light pop music. Katy Perry gets our tongues jamming to Chardonnay. Strong red wines with tobacco...

  • Page 13
    ...French accordion music is piped in at a wine shop, customers are more likely to buy French wines. Even German oompah music is able to cast a magical spell. In but North is convinced that music serves to accentuate our North's experiment, it increased the sales of German internal feelings and general...

  • Page 14
    ... for something new." The phone rings: his taxi has arrived. Quickly pulling on a T-shirt emblazoned with L-O-V-E, Berghammer snaps the lid of his case closed and off he goes. It's two o'clock in the morning as the DJ makes his way along Moscow's streets with his mysterious case in hand. Entering...

  • Page 15
    ...." The club is starting to fill up, but despite the efforts of gyrating dancers on small platforms above the dance floor, the mood is still subdued. People sitting at the bar look on with interest when DJ ODO7 turns on his two large electric fans. As the electronic bass booms out of the speakers, he...

  • Page 16
    ... is on board, he has to adapt his aromatic performance accordingly. Of course, he prefers being the conductor of his own multisensory concert. "When I put on my Sennheiser HD 280 Pro, I can focus fully on the music. Every other sound is blocked out," raves Berghammer about his DJ equipment. "I've...

  • Page 17
    32 Product exPerience Product exPerience 33 From closing doors and fizzing bottles What does a brand sound like? How does it smell and taste? Multisensory design has the answer. It turns brand identity into an experience and gives it the breath of life. Slamming doors, clicking blinkers, ihe ...

  • Page 18
    ... work iogeiher in a when we do hear ii, our mouihs begin sound siudio io find ihe perfeci brand-specific sound. Ii is esiimaied ihai ihe io waier. Someone looking io buy a car Swabians spend more ihan â,¬20 million io design ihe sound of each and every new may imagine ihe smell of iis leaiher model...

  • Page 19
    ... a ihird of all mobile phone buyers, ihe feel is more imporiani ihan iis looks. Which is why qualiiy manufaciurers such as Sennheiser use only ihe finesi maierials. Plasiics from ihe aviaiion and aerospace indusiries, and microfiber iexiile noi only make ihe HD800 headphones look good - ihey convey...

  • Page 20
    ... an iPod loaded with the roar of the ocean and sound of seagulls to enhance the taste of his gourmet creation Sound of the Sea. Tasting ddsound BritishdcelebritydchefdHestondBlumenthaldisdadculinaryd magician,dconjuringdupdthedsoundsdofdthedoceand indadconcha,danddculinarydexplosionsdondthedpalate...

  • Page 21
    ... University, helped him break the magician's code. His Crossmodal Research Laboratory is impressive: HeSton BLumentHAL "Every surface was covered in a jumble of cables, connectors, headphones and sound mixers," says Blumenthal. To make his point, Spence gave him headphones, microphone and a package...

  • Page 22
    ... HD800: "It's almost as if you're listening to albums in 3D," he told the Daily Mail. The celebrity chef enjoys music and its subtle nuances as much as he does food. "The range of frequencies you get from the Sennheisers is just amazing. It's like buying a whole new record collection and a whole new...

  • Page 23
    ... the composer of the Tatort theme song and the soundtrack for Das Boot at his home just outside Munich. As Doldinger and Hafke Ahmad discussed everything from mixers, microphones, music awards and old audiotapes, to the saxophone - and the seven senses - an air of intimacy was created. p. 10 Hilmar...

  • Page 24
    ...o N T AC T F I N A NCI A L REP oR T 2 0 1 0 47 Financial Report 2010 MASTHEAD Published by: Sennheiser electronic GmbH & Co. KG, Wedemark, Germany Publishers: Burda Creative Group GmbH, Konrad-Zuse-Platz 11, 81829 Munich, Germany Photos: Cover: gettyimages/Nick Veasey; p. 3 Andreas Pohlmann; pp...

  • Page 25
    ... 600 hours in front of a live audience. sennheiser products were used at the EUROVISION SONG CONTEST . people visited the german pavilion at the world eXpo in shanghai. sennheiser provided various guide and audio systems for the visitor tours. viewers watched the 2010 GRAMMY AWARDS on television...

  • Page 26
    ...: Consumer Electronics Division Dr. Heinrich Esser: Professional Systems Division, and ad interim: Installed Sound Division Paul Whiting: Global Sales Division - A look back at 2010 shows that we emerged from the crisis in 2009 within the first six months of the year. Business in the second half of...

  • Page 27
    ... company, Sennheiser electronic GmbH & Co. KG is obliged to draw up consolidated financial statements. The company's production sites are located in Wennebostel (Germany), Tullamore (Ireland) and Albuquerque (New Mexico, USA). While Wennebostel chiefly manufactures wireless and wired microphones...

  • Page 28
    ... recovery of growth in Asia. In connection with high levels of order backlog left over from before the crisis and the increasing use of reduced working hours, unemployment figures only rose for a short time and to a limited extent until around mid-2009. Businesses therefore managed to quickly cope...

  • Page 29
    ... BY pRodUCt gRoUp tURnoVeR BY Region Change from previous year, in percent Headphones 34.9 % 253.7 282.9 in Millions oF eURos Conference and Information Systems 3.3 % Georg Neumann 3.6 % Professional Headsets 4.5 % 246.5 2010 125.6 91.7 99.3 Audiology 6.6 % Wired Microphones 7.4 % Wireless...

  • Page 30
    ..., New Mexico, USA, was able to increase turnover in its local currency by 4.3% compared to the previous year. In 2010, the site's main focus of production again was on wireless microphones and supplying production components to Sennheiser electronic GmbH & Co. KG. The most important project in 2010...

  • Page 31
    ... as part of personnel development to support networking between international groups. In 2010, Sennheiser electronic GmbH & Co. KG and Georg Neumann GmbH took on the majority of employees from the subsidiary K + H Vertriebs- und Entwicklungsgesellschaft mbH, and employees of the old production site...

  • Page 32
    ... system ADN (Audio Distribution Network) is a premium product for the conference market. Sennheiser introduced it in 2010 at the Info Comm in Las Vegas. This system was entirely developed by Sennheiser. It is extremely robust and sports a large number of features, an appealing design and top sound...

  • Page 33
    ... to increase the company's international customer focus. The Consumer Electronics division concentrates on the headphone business as well as audio and telecommunication products. The Professional Systems division is home to Professional Audio, Live Sound, Studio and Professional Headsets, and the...

  • Page 34
    ... sheet profit v. Balancing item for shares of other shareholders B. special items C. provisions 1. Pension provisions 2. Tax provisions 3. Other provisions B. Current assets i. stocks 1. Raw materials and supplies 2. Work in process 3. Finished products and merchandise 4. Down payments ii. trade...

  • Page 35
    ...n a nCi a l s t a t emen t s 2 0 1 0 69 ConSolidated ProFit and loSS StatementS For the FinanCial Year 2010 2010 (â,¬) 1. sales 2. increase/reduction (-) of the inventory of finished and semi-finished products 3. other own work capitalized 4. other operating income 5. raw materials and consumables...

  • Page 36
    ... Manufacturing USA Inc., Albuquerque, USA - Sennheiser Bondholding Company LLC, Albuquerque, USA Sennheiser Global Operations GmbH, Wedemark, Germany - Sennheiser Belux B.V.B.A., Zellik, Belgium - Sennheiser (Canada) Inc., Point Claire, Canada - Sennheiser Electronic Asia Pte Ltd., Singapore...

  • Page 37
    ... Group correspond to those applied in the annual financial statements of the parent company and to the consolidating accounting standards laid down under commercial law (Section 308, subsections 1 and 2 HGB). For the individual annual financial statements included in this report, the common balance...

  • Page 38
    ...Technical equipment and machinery 3. Other plant, furniture and fixtures 4. Down payments and plant under construction iii. Financial assets 1. Shares in associated companies...1,553,283.62 dec. 31, 2010 (â,¬) 3,201,094.38 1,810,886.34 5,011,980.72 4,958,662.71 net BooK values previous year (â,¬ in ...

  • Page 39
    ... net profit owing to minority shareholders are credited to the company clearing accounts and are thus not included in the balance sheet profit. Special items contain the investment subsidies and advance payments granted to Sennheiser Consumer Electronics GmbH, Branch Ireland, Tullamore, Ireland...

  • Page 40
    .... â,¬ thousands Headphones Wireless Microphones Sennheiser Communications Wired Microphones Audiology Professional Headsets Georg Neumann Installed Sound Other Products sales 2010 163,399 119,567 37,719 34,833 30,869 20,859 16,731 15,625 28,632 468,234 emploYees Within Germany Abroad 2010 1,153...

  • Page 41
    ...Wedemark, Germany, - Sennheiser Consumer Electronics GmbH, Wedemark, Germany, - Sennheiser Logistics Services GmbH, Wedemark, Germany, - Sennheiser Vertrieb und Service GmbH & Co. KG, Hanover, Germany. The parent company, in the form of a limited company within the meaning of Section 264a HGB, makes...

  • Page 42
    ... Investments (-) in intangible assets Investments (-) in fixed financial assets Payments (-) for the acquisition of consolidated companies and other business units Cash flow from investment activities Other changes in shareholders' funds excluding net profit for the year Cash flow from financing...

  • Page 43
    ...parent CompanY minoritY shareholders Cumulative other Group result Balancing item from the foreign currency conversion 0.00 0.00 0.00 0.00 0.00 0.00 0.00 -30,021.97 0.00 30,021.97 0.00 0.00 0.00 0.00 Status as of Dec. 31, 2009 Credit to shareholder settlement accounts Other changes Group net profit...

  • Page 44
    ... consolidated financial statements of Sennheiser electronic GmbH & Co. KG, Wennebostel, Germany, comply with the legal requirements and give a true and fair view of the net assets, financial position and results of operations of the company in accordance with German principles of proper accounting...