Sennheiser 2012 Annual Report Download - page 35

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6968
CONSOLIDATED MANAGEMENT REPORT 2012
CONSOLIDATED MANAGEMENT REPORT 2012
Significant parts of the UHF spectrum have been repurposed for new applications, for example, the LTE mobile
communication standard, so-called “wireless DSL.” The EU is planning to reserve further frequencies for the use
of security services, and for broadband and military applications. This creates a threat to frequency resources
used by professional microphones and monitor systems.
The implementation process will take many years in Germany and across the whole of Europe. The attempts of
large companies to establish so-called “White Space Devices” for the transfer of data on the UHF band pose a
further risk to the uninterrupted use of this frequency range for wireless production tools. Sennheiser has been
preparing for the restriction of the UHF spectrum for some years now, in order to provide its customers with
disruption-free productions and therefore safe investments for the future. These measures include the develop-
ment of cognitive technologies. We will also explain the negative impact of the reduction of the spectrum to
decision-makers in politics and administration, thereby raising awareness to the increasing number of wireless
productions and focusing our attention on quality improvements in wireless production equipment, which also
require a broader spectrum (HD images – HD sound). A newly established team of Sennheiser specialists will be
involved in the coordination and use of the remaining UHF spectrum.
———
OUTLOOK FOR FUTURE DEVELOPMENT
In 2013, we will work to consolidate the new structures and processes that have arisen from the successful
implementation of the divisional reorganization. Sennheiser will continue to follow its current strategic path.
Each year the company looks toward the coming five years in order to adjust its ambitions to the present
conditions.
Overall, it should be remembered that the long-term strategic approach of the Sennheiser Group has led to a
situation in which sufficient reserves were built up over recent years to avoid the increased volatility and
insecurity that is affecting the market. In the coming years, this will eliminate the need for hectic reactions to
short-term changes, instead allowing us to work closely with our customers to address important topics. This
increases the trust customers place in the Sennheiser Group’s brands and organization.
A further important element of future success is the consistent training and qualification of our employees.
This creates enough internal flexibility to allow the company to keep up with intensifying competition, despite
extremely low staff turnover.
The company expects to increase its turnover further in the coming financial years. The Group result is expected
to remain more or less constant.
Wennebostel, Germany, April 10, 2013
The Executive Management Board