Financial year 2020
Endress+Hauser holds its own in the crisis
Endress+Hauser has come through the crisis year 2020 well. However, the Group's consolidated turnover fell by almost 3 percent to just under 2.6 billion euros, strongly influenced by exchange rate effects.
Even a strong laboratory business could only partially compensate for the shortfalls in the area of process automation, which was hit harder by the consequences of the coronavirus pandemic.
While sales development last year was therefore well below target, the Group maintained its profit at a high level. " Endress+Hauser 's financial solidity did not suffer during the crisis," says CFO Dr. Luc Schultheiss. The company was able to avoid short-time working and even slightly increase employment. At the end of 2020, Endress+Hauser had more than 14,400 employees worldwide, over 100 more than a year ago.
Endress+Hauser has always been able to deliver despite the pandemic. "We have bridged the physical distance to our customers through digital and emotional proximity," says CEO Matthias Altendorf. The company boss believes the company is well equipped, even if the coming months continue to be impacted by the coronavirus crisis: "Our innovative strength is unbroken. We will launch more new products on the market in 2021 than ever before."
Economic recovery not before the end of the year
The impact of the pandemic continues to affect individual market regions, customer sectors and areas of work very differently. Nevertheless, Endress+Hauser has made a good start to the current year. The Group anticipates growth in the single-digit percentage range in 2021, but sees profits under greater pressure. The company does not expect a fundamental recovery in the global economy until the end of the year.
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