Sennheiser 2013 Annual Report Download

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2013 Annual Report
20,000 – 200,000 HZ
IN THE HEIGHTS
OF SOUND

Table of contents

  • Page 1
    2013 Annual Report 20,000 - 200,000 HZ IN THE HEIGHTS OF SOUND

  • Page 2
    ... Board Management Report of the Sennheiser Group Principles Economic Report Post-balance-sheet-date Events Outlook, Opportunities and Risk Report 17 Consolidated Financial Statements 2013 17 Consolidated Balance Sheet as of December 31, 2013 19 Consolidated Profit and Loss Statement 2013 02

  • Page 3
    ... and approved the Consolidated Management Report and the Consolidated Financial Statements for financial year 2013, which were submitted on time by the management. During the year under review, the members of the Executive Management Board were: Daniel Sennheiser, CEO, Spokesman of the Executive...

  • Page 4
    ... MANAGEMENT REPORT 2013 - Upon Daniel and Andreas Sennheiser's assumption of the CEO position and their appointment as Spokespersons of the Executive Management Board, appointments of the members of the Executive Management Board were re-assigned. Dr. Heinrich Esser's retirement at the end of 2013...

  • Page 5
    CONSOLIDATED MANAGEMENT REPORT 2013 MANAGEMENT REPORT OF THE SENNHEISER GROUP --- 1. PRINCIPLES 1.1 PRELIMINARY REMARKS The Group's production sites are located in Wennebostel (Germany), Tullamore (Ireland) and Albuquerque (New Mexico, USA). While Wennebostel chieï¬,y manufactures wireless and ...

  • Page 6
    ... a new addition to the Momentum product family of headphones, the on-ear version, which combines excellent sound experience with authentic materials. Mid-year saw the completion of the LSP 500 Pro wireless PA system in the IS Division. By integrating mixing functions into a battery-operated speaker...

  • Page 7
    ... OVERALL BUSINESS DEVELOPMENT Global economic growth hit a temporary low at the end of 2012/beginning of 2013, but gradually picked up momentum during the course of 2013. The recovery was achieved on the back of the revived economies in the USA and China and stabilization in the problem-ridden...

  • Page 8
    ... Sennheiser brands in local and regional markets. The latter in particular is paying off in emerging markets (Brazil, India, China and Russia). With the acquisition of the Australian partner Syntec and the founding of Sennheiser Australia/New Zealand, Sennheiser has strategically expanded its sales...

  • Page 9
    ...in Australia and New Zealand. All regions were severely impacted by the currencies which depreciated sharply against the euro. The annual average staff level at the Sennheiser Group increased by 9 percent to 2,542 in 2013, including 78 trainees (previous year: 76). At the end of the year, the number...

  • Page 10
    ... % 584.4 +10.0 % 590.5 +1.0 % TURNOVER BY REGION (â,¬ Millions) Change from previous year, in % -0.8 -0.2 % 500 400 300 200 133.6 100 0 2011 2012 Americas 2013 2011 2012 EMEA 2013 2011 2012 APAC 2013 146.5 147.1 Germany 88.3 (25.8 %) 0.6 +0.4 % 324.8 342.9 342.1 6.3 +6.6 % 73.0 95.0 101.3 10

  • Page 11
    ...MANAGEMENT REPORT 2013 TURNOVER BY BUSINESS DIVISION (â,¬ Millions)/in % Change from previous year, in % Professional Systems 197.2 33 % -4 % Consumer Division 300.5 51 % +4 % Integrated Systems 92.7 16 % +2 % EMPLOYEES Change from previous year, in % 2,542 +9.1 % 2,500 2,132 +0.7 % 2,000 1,500...

  • Page 12
    ... be broken down into â,¬7.2 million for Sennheiser Australia Pty Ltd., â,¬3.4 million for the Irish production facility of Sennheiser Consumer Electronic GmbH (primarily for a new production line under construction) and â,¬1.6 million for the plant in Singapore. Other investments in the foreign...

  • Page 13
    ... during 2013. This is partly due to the abating crisis in the Eurozone towards the end of the year, thanks to measures taken by the European Central Bank and European governments. The economies of the USA and Asia's emerging markets have also recently picked up steam. In comparison, the euro...

  • Page 14
    ... to the USA and Europe in particular and should give both consumption and investments the necessary boost. Global commodity prices should hardly see any change in 2014 despite the recovery in momentum, or, as in the case of crude oil, could even fall slightly due to relatively high inventories and...

  • Page 15
    ...and authorities on an international scale to effectively counteract this threat. In 2013, raids were also conducted in cooperation with other companies. A new product security plan was finalized in 2013. It allows customers and dealers to authenticate selected products online as original Sennheiser...

  • Page 16
    ... trade barriers and thus doing an even better job of meeting customers' demands. In order to take an active part in the dismantling of national requirements, the Sennheiser Group is active in ZVEI and other local industry associations. Wennebostel, Germany, 14 April 2014 The Executive Management...

  • Page 17
    CONSOLIDATED FINANCIAL STATEMENTS 2013 CONSOLIDATED FINANCIAL STATEMENTS 2013 --- CONSOLIDATED BALANCE SHEET AS OF DECEMBER 31, 2013 ASSETS 2013 EUR A. Fixed assets I. Intangible assets II. Property, plant and equipment III. Financial assets 14,265,616.79 48,140,609.48 1,642,615.30 64,048,841.57 ...

  • Page 18
    CONSOLIDATED FINANCIAL STATEMENTS 2013 LIABILITIES 2013 EUR A. Equity B. Special items C. Provisions D. Liabilities E. Accruals and deferrals 72,603,712.05 159,960.00 111,923,898.68 177,702,216.55 42,749.33 PREV. YEAR EUR ‚000 66,799 166 105,640 178,942 425 362,432,536.61 351,972 18

  • Page 19
    CONSOLIDATED FINANCIAL STATEMENTS 2013 CONSOLIDATED PROFIT AND LOSS STATEMENT FOR FISCAL YEAR 2013 2013 EUR 1. Sales revenue 2. Increase of the inventory of finished and semi-finished products 3. Other own work capitalized 4. Other operating income 5. Raw materials and consumables 6. Personnel ...

  • Page 20
    ... Asia Pte. Ltd., Singapore - Sennheiser Electronic Corporation, Old Lyme, USA - Sennheiser Electronics (Beijing) Co., Ltd., Beijing, China - Sennheiser Electronics India Private Limited, Haryana, India - Sennheiser France S.A.R.L., Ivry sur Seine, France - Sennheiser Hong Kong Ltd., Hong Kong, China...