Endress+Hauser achieves a record high in sales, headcount and profit in 2011, and expects stable growth this year.
Net sales rose by 16% to €1.5 billion. At the end of 2011, the company counted 9,414 employees, 820 more than a year ago. 474 of these jobs were created in Europe. Operating profit increased by 32% to €247 million, net income reached €177 million (an increase of 40%).
Presenting the financial results in Basel, CEO Klaus Endress made no secret of his surprise regarding these positive developments. The sovereign debt crisis and resulting currency upheavals, as well as the natural disasters in Asia that led to bottlenecks in the supply of electronic components had, he said, stretched the company's employees to their limit.
Endress+Hauser stands on solid financial ground. The equity ratio has reached almost 70% and the company holds liquid assets of €443 million compared with just €40 million in bank liabilities.
After two years of reticence, the Group increased investments by 49% to €85 million. Good capital resources allowed two acquisitions, with Endress+Hauser buying interests in Finesse Solutions – a US company operating in bioprocess engineering – and in the German engineering bureau Systemplan offering consulting services in energy efficiency.
Endress+Hauser has set a growth target of 11% for 2012. Sales are moderately below budget at present, said Klaus Endress. "But our figures are robust. There is neither recession nor crisis right now." Nevertheless the CEO warned of uncertainties owing to the continuing sovereign debt crisis and tensions in the euro zone.
Endress+Hauser aims to invest €140 million this year, mainly in production. A new production facility for flow, level and pressure engineering is under construction in Brazil. Around 700 new jobs are expected to be created worldwide: by the end of the year, Endress+Hauser will most likely top the 10,000 mark in terms of headcount.
