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Annual Report
Sennheiser Group fiscal year 2021

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Review of 2021

2021: A year of hope and endurance – some concerts were allowed to take place again, but only under strict conditions. People gradually felt safer again, but still not as free as before. 2021 was a tour de force - not only for our company, but also for our employees and our customers. But now, more than ever, we know that it was all worth it. A fiscal year in which we achieved incredible things together and thus set the course for a successful future.

The following annual report looks back at the 2021 financial year. Since March 2022, we are focusing entirely on our professional business.

A Conversation with Dr. Andreas and Daniel Sennheiser

Co-CEOs Dr. Andreas Sennheiser and Daniel Sennheiser on a unique year for Sennheiser, on refocusing and on what really matters: true team spirit.

Turnover by business division

in € millions / change from previous year in percent


Turnover development

in € millions / change from previous year in percent


Turnover by region

in € millions


  • CONSUMER DIVISION
    €264.9m
    -0.3 %
    Headphone icon sennheiser
  • PROFESSIONAL SYSTEMS
    €371.4m
    20.6 %
    Microphone icon sennheiser
€636.3m

Divided by divisions, the turnover in the Professional Division amounted to €371.4 million, while the Consumer Division generated an operating turnover of €264.9 million.

Results at a glance

  667.7 710.7 756.7 573.5 636.3  
  +1.4 % +6.5 % +6.5 % -24.2 % +11.0 %
800
750
700
650
600
550
500
450
400
200
0
+€62.8m
  2017 2018 2019 2020 2021  

The Sennheiser Group generated turnover of €636.3 million in fiscal year 2021. This corresponds to an increase of 11.0 percent or €62.8 million compared to the previous year.

Results at a glance

AMERICAS €190.6m AMERICAS €190.6m EMEA €279.7m EMEA €279.7m APAC €166.0m APAC €166.0m

In 2021, the EMEA region continued to be the region with the highest turnover with €279.7 million. In the APAC region, Sennheiser generated turnover of €166.0 million and in the Americas region €190.6 million.

Results at a glance

From a novelty to the new normal

In 2021, despite a partial standstill, a lot has moved socially - especially in the music scene and especially in female hiphop. A new breed of artists are rapping about what moves them rather than conforming to sexist roles and clichés. Yetundey from Berlin, who we had the pleasure of welcoming to the Sennheiser Evolution Wireless Digital Launch Event, is one of them. She is proof that female artists are making this once male-dominated genre more diverse and exciting than ever. The beginning of a movement to the New Normal.

Number of employees

Employees as of 03-01-2022*


Employees in production

Employees by persons as of 03-01-2022*


EMPLOYEES

Every day, 1,969 employees worldwide work with passion
to fulfill the wishes of our customers.
*(after closing of the sale of the Consumer Segment)

24.5%

PRODUCTION

A quarter of our employees work at one of our three global production sites.
*(after closing of the sale of the Consumer Segment)

Better meetings around the world

Since the start of the pandemic, it became undeniable how important reliable and modern meeting and conferencing solutions are. Suddenly, there was a huge demand for increasingly sophisticated technologies in almost all industries. Since 2021, our TeamConnect Ceiling 2 audio and conferencing solution has been enhancing conference experiences worldwide. We see it in action at the state-of-the-art offices of the German Centre Beijing in China.

Employees by region

Employees by region as of 03-01-2022*


Nationalities at the headquarters

Employees by nationality as of 03-01-2022*


Gender split

Employees by gender as of 03-01-2022*


Generation split

Employees by generation as of 03-01-2022*


  • 11%

    APAC

  • 9%

    AMERICAS

  • 80%

    EMEA (63% THEREOF IN GERMANY)

With its own 21 sales subsidiaries and long-term sales partners, Sennheiser is active in more than 50 countries. We have 22 trainees worldwide.
*(after closing of the sale of the Consumer Segment)

Nationalities
33

NATIONALITIES AT
THE HEADQUARTERS

Pin solid
People of 33 different nationalities work at our headquarters in Wedemark.
*(after closing of the sale of the Consumer Segment)
Nationalities
33

NATIONALITIES AT
THE HEADQUARTERS

Pin solid
People of 33 different nationalities work at our headquarters in Wedemark.
*(after closing of the sale of the Consumer Segment)
FEMALE
41 %
MALE
59 %

While the overall percentage of women at Sennheiser is 41 percent (men: 59 percent), the percentage of women in management positions is 17 percent.
*(after closing of the sale of the Consumer Segment)

FEMALE
41 %
MALE
59 %

While the overall percentage of women at Sennheiser is 41 percent (men: 59 percent), the percentage of women in management positions is 17 percent.
*(after closing of the sale of the Consumer Segment)

  • Generation X
    (1966 - 1980)
    38%
  • Baby Boomer
    (older than 1966)
    19%
  • Generation Z
    (1997-2012)
    4%
  • Generation Y
    (1981-1996)
    39%

Four different generations work together at Sennheiser. Generations X and Y are the most strongly represented.
*(after closing of the sale of the Consumer Segment)

Neumann: A year for new paths

In 2021, many bands and musicians were able to return to the stage, while newcomers could at last making their stage debuts. Neumann wants to make live performances as easy as possible for all artists - and in 2021 has integrated instrument microphones into its portfolio for the first time. As it’s Neumann, the emphasis naturally on ensuring high stability and durability in live and stage operation. Because investing in Neumann means investing for life.

Production sites

As of 03-01-2022


Development centers


Investments in Research & Development in 2021


Alberquerque, USA Alberquerque, USA Brașov, Romania Brașov, Romania Wennebostel, Germany Wennebostel, Germany

In addition to production facilities in Germany and Romania, we have our own plant in Albuquerque, USA.

  • SWITZERLAND
    3D audio,
    trend research
    and innovative product concepts
  • GERMANY
    Product development, innovative wireless systems and digital signal connection
SWITZERLAND
3D audio,
trend research
and innovative product concepts
GERMANY
Product development, innovative wireless systems and digital signal connection

We conduct research at four locations to shape the future of the audio world.
One of them is in Switzerland (Zurich) and three of them are in Germany: Wennebostel, Berlin and Duisburg

Investments in rd
€49.4m
investment in Research & Developement in 2021
7.8 %
share of our turnover

In 2021, we invested € 49.4 million in research of new audio technologies.

Stereo was yesterday

It was hard to imagine the everyday lives of millions of people worldwide in 2021 without Netflix. Especially during the pandemic, the evening Netflix series was a special highlight for many. The AMBEO 2-Channel Spatial Audio Renderer brings the home TV experience a little closer to cinema: it translates immersive original mixes into 2-channel audio, providing a spatial experience that goes far beyond stereo. Netflix is the first streaming platform to offer this experience for select content, with Stranger Things kicking things off.

The Supervisory Board of Sennheiser electronic GmbH & Co. KG met for four ordinary and five extraordinary meetings in the past fiscal year.

The board initially consisted of three members since March 2021, after Dr. Frank Heinricht handed over his position as Chairman to Andreas Dornbracht and retired from the Sennheiser Supervisory Board after 12 years. Andreas Dornbracht (Chairman), Prof. Dr. Jörg Sennheiser and Johann Soder formed the Supervisory Board team from March to October 2021.

Stefan Plenz, who brings more than 30 years of experience in mechanical and plant engineering to his role as a member of the Sennheiser Group's Supervisory Board, joined the board in October 2021. In January 2022, the team was completed by Iris Epple-Righi, who has years of experience in business management and merchandise management and thus ideally complements the Supervisory Board. The Supervisory Board of the Sennheiser Group is therefore once again fully staffed.

Further information can be found here.