Sennheiser grows for the third consecutive year

With its focus on the professional audio business, the Sennheiser Group achieved revenues of €527.2 million in the 2023 fiscal year. With revenues surpassing the previous year's result with a growth of 12.7%, 2023 also saw the independent family-owned company continue to invest sustainably in its future.

This is the third consecutive year of growth for the company. Co-CEOs Daniel and Andreas Sennheiser provide a positive overview of the company’s performance: "We are more than satisfied with the achieved revenues allowing us to grow for the third consecutive year and further expand our strong position in the global audio market. As a family-owned company, we strive for lasting, sustainable growth."

Worldwide, the company’s 21 sales subsidiaries and 55 distribution partners made a significant contribution to the successful business results. Recording growth in all regions worldwide, the APAC and EMEA regions achieved strong growth rates. Highest revenues continued to be generated in the EMEA region, which also recorded the largest revenue growth of €240.6 million with an increase of 22.2% compared to the previous year. Growing by 15.3%, APAC attained a revenue of €107.2 million. This growth indicates that the APAC region is steadily recovering from the pandemic's impact and that the company’s professional audio product business is gaining strength in markets previously dominated by consumer products.

Andreas added: “We are driven by the ambition to build the future of the audio industry. To achieve that, we must invest in the future, and we’ve been doing that for generations.” The Sennheiser Group made significant investments in 2023, with approximately €62 million in R&D, strengthening the supply chain and digitalisation. More extensive investments are also planned for 2024.

At the Wedemark headquarters in Germany, €5.6 million was invested in modern and automated manufacturing processes in 2023. The site specialises in technologies for highly precise, automated processes in addition to the manufacturing of high-end products, including the production of microphone capsules in its own cleanroom. Last year, the company also continued to expand the production areas of the factory in Braşov, Romania, which has tripled since opening in 2019.

Forming a foundation for digital business models and the implementation of an agile service organisation, nearly €3 million was invested in the digital value chain. This includes the establishment of a shared service centre in Poznań, Poland, which opened in May 2023. The shared service centre provides various automated backend processes from accounting to IT to HR for the entire global organisation.

​The joint CEOs commented: “2024 will remain a dynamic year, especially due to external factors such as interest rate decisions by major central banks and ongoing geopolitical conflicts. Uncertainty can trigger fears about the future, which can impact demand. For us, it is important to respond flexibly to volatile market conditions, which we can do that thanks to our independence. With our great team, clear focus on the professional business and a strong strategy, we are well-positioned for the future.”