Endress+Hauser enjoyed strong growth in 2012 and achieved record figures in net sales, employment, profits and equity. Despite ongoing global economic uncertainty, the Group expects this positive trend to continue in 2013.
“2012 was not an easy year,” underlined Group CEO Klaus Endress at the results presentation in Switzerland. “In some markets sales dropped, but in many others we recorded growth. In the end we only just missed our ambitious targets. Above all, Endress+Hauser made the best possible use of the opportunities that the past year offered, despite all the risks.”
The company increased net sales by 11% to almost €1,7 billion. Despite higher depreciation and amortisation, the operating profit (EBIT) almost kept pace, increasing by 10% and ultimately reaching €273 million. Owing to a higher tax rate, net income rose by only 3% to €183 million, which is nevertheless a new record.
The Executive Board of the Endress+Hauser Group.
Development across a wide base
Endress+Hauser showed growth across all regions, with exceptionally good developments in the Americas. “In the United States this was the third good year in succession for us,” explained COO Michael Ziesemer. “Low energy prices have sparked re-industrialisation in the USA. In contrast, business in China showed disappointing development. This was an unusual experience after years of dynamic development.
“Growth was broad-based across all customer industries. The strongest results were delivered by the oil & gas and power & energy industries, followed by the chemical, food & beverage, life science and water & wastewater industries. Key drivers behind our growth are megatrends such as energy, resources and efficiency, food, water and demography.”
At €127 million the Group’s investments have reached a new high. Most of this was spent on expanding production facilities. By no means the biggest but certainly the most important project was a new production facility in Itatiba near São Paulo. Endress+Hauser expects this to have a significant impact on business in Brazil and the rest of the South American continent.
Ambitious targets for 2013
Endress+Hauser has set itself ambitious targets for 2013. Net sales are expected to grow by 10% to almost €1,9 billion. For operating profit and net income, the company expects a moderate decrease. This is where investments in buildings and plants, software and IT of a record-high €160 million come to bear, as well as increased expenditure in research and development.
“We do not expect 2013 to be an easy year,” stressed Endress. “The problems which have made our world so insecure and changeable still exist.” This was one of the reasons why the change at the top of the company was announced so early. Endress will move to the Supervisory Board in 2014 where he will succeed Klaus Riemenschneider as president. His successor as CEO will be Matthias Altendorf, currently managing director of the Group’s largest production centre in Maulburg.
“We have taken the steps in terms of organisation, strategy and personnel to set the course that will lead the company towards a successful future,” concluded Endress.
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