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5150
MASTHEAD & CONTACT
MASTHEAD
PUBLISHED BY: Sennheiser electronic GmbH & Co. KG, Wedemark
PUBLISHERS: Burda Creative Group GmbH, Arabellastraße 23, 81925 München, www.burdacreativegroup.com
PHOTOS: Cover: Martin Klimas; p. 3, 4-5 Tom Haller (2); p. 8 Donata Wenders; p. 9-10 Autorenkombinat (4); p. 11 Jekyll &
Hyde; p. 12 action press/Peter Schatz; p. 14 gettyimages/Staff, imago/Xinhua; p. 15 Jekyll & Hyde; p. 16 Sukita/The David
Bowie Archive; p. 17 Brian Duffy; p. 18, 19, 20, 22 Olivier Hess (6); p. 21 Frank W Ockenfels 3; p. 23 Jekyll & Hyde; p. 24 Mu-
seum Rietberg/Peter Fux; p. 25 Bildstelle/Defodi Ltd. & Co. KG; p. 26 gettyimages/Herman du Plessis; p. 27 ddp images/
www.bildagentur-online.com; p. 28 Miriam Kolar, Museum Rietberg; p. 29 Jekyll & Hyde; p. 30, 32 Illustration: James Dawe
(2); p. 33 Jekyll & Hyde; p. 34 dpa/Jens Buet; p. 36 Hauke Dressler; p. 37 Jekyll & Hyde; p. 38-42 Johannes Kroemer (4); p. 42
Todd Kaplan, Pink; p. 43 Jekyll & Hyde; p. 44, 46 SRF/Daniel Ammann (2); p. 46 Jörg Modrow; p. 47 Jekyll & Hyde; p. 49
Wenders Images; p. 52 Tom Haller
SYMBOLS OF EXCELLENCE
To date, Sennheiser annual reports have been recognized with 31 Corporate Publishing Awards.
CONTACT
SENNHEISER ELECTRONIC GMBH & CO. KG
Am Labor 1, 30900 Wedemark, Germany, www.sennheiser.com
CONTACT FOR PRESS RELATIONS AND PUBLICITY: Global Corporate Public Relations Manager, Edelgard Marquardt,
telephone: +49 (0)5130 600-329, e-mail: Edelgard.Marquardt@sennheiser.com
FINANCIAL REPORT
2012
CONTENTS
52 REPORT OF THE SUPERVISORY BOARD
54 Consolidated Management Report 2012
54 Preliminary Remarks
54 Economic Developments During Financial Year 2012
67 Risk Management
69 Outlook for Future Development
70 Consolidated Financial Statements 2012
70 Consolidated Balance Sheet as of December 31, 2012
72 Consolidated Profit and Loss Statement for the Financial Year 2012
74 Notes on the Consolidated Financial Statements 2012
78 Statement of Asset Additions and Disposals for the Financial Year 2012
86 Cash Flow Statement for the Financial Year 2012
88 Statement of Shareholders’ Equity for the Financial Year 2012
90 Independent Auditors’ Report
FINANCIAL REPORT