SWITZERLAND – Instrumentation and control specialist Endress + Hauser Group has reported a successful 2021 financial year where it managed to sell 2.6 million instruments.
Group CEO Matthias Altendorf at the annual media conference in Basel noted that this was a sign that customers had a high degree of trust in the company.
“They were able to rely on us after the outbreak of the pandemic, and we were a reliable partner once demand picked up again,” Alterndorf added.
Net sales rose 11.7% to 2.879 billion euros with the Group experiencing dynamic growth in Asia and America, and a solid performance in Europe.
Endress noted that its business in Africa was up but the Middle East suffered a decline due to its heavy dependence on the oil & gas industry.
Operating profit (EBIT) increased 28.8% to 434 million euros while profit before taxes (EBT) improved 37.4% to 463.8 million euros (US$470 million).
Return on sales (ROS) climbed three points to 16.1% while net income grew 40% to 356.8 million euros (US$386.3m) due to a lower tax rate.
China extended its lead as the company’s strongest sales market in 2021, followed by the United States and Germany.
During the year, Endress invested heavily on research and development. 213.4 million euros on research and development, roughly 7.4% of sales and an increase of 9.4% over the prior year.
Investment in R&D resulted in the company introducing more than 70 product innovations introduced, many are related to digitalization
The family-owned company also added 663 more employees in 2021 primarily in production.
Endress+Hauser revealed that nearly all apprentices were offered positions in the company upon completion of their training.
Although the Group planned growth in the upper-single-digit range for 2022, at the moment it is uncertain whether this target is attainable due to the war in Ukraine.
“Russia’s attack on Ukraine changed everything overnight,” Altendorf said. “This conflict is bringing suffering to millions of people and is impacting many companies at a time when the pandemic is far from over.”
Earlier, Hans-Peter Endress is leaving the Endress+Hauser Supervisory Board after reaching the age limit of 75.
Taking his place is Sandra Genge, a granddaughter of company founder Dr. Georg H. Endress.
Together with Dr. Klaus Endress, she will be representing the interests of the shareholder family on the Supervisory Board.
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