International. With a growth rate of 13.5% and profit after tax with an increase of 93%, the audio system manufacturer Sennheiser reported the end of fiscal year 2011 compared to the immediately previous year.
The group's turnover increased significantly from €468.2 million in 2010 to €531.4 million in the last financial year. Profit after tax went from 23.6 to 45.7 million euros in the same period.
According to Volker Bartels, spokesperson for the Executive Board of Directors, "We are very proud of this result that was achieved in all markets and product segments. "The increase in turnover is the direct result of a clear focus on our business divisions, along with careful expense management."
He added that in particular, the results obtained were given by a direct focus on sales in the regions of Asia, Europe, the Middle East and Africa, achieving in this market much more than compensating for the exchange rates faced by the dollar region.
In the Americas, Sennheiser maintained its continuous growth levels of 6.4%, despite the trend in the exchange rate throughout 2011. Overall, the company's export share was 83.3% in 2011.
Most of the group's turnover, at 32.9%, remains the hearing aid business. Followed by wireless microphones (26.4%), products from Sennheiser Communications (9.2%) and wired microphones (7.4%).
These results follow the restructuring of the company last year, especially in the divisions of "Consumer Electronics", "Professional Systems" and "Integrated Systems", in order to offer a better and more effective service.
