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Financial results: Endress+Hauser proves reliable

Group exceeds own expectations in the 2021 financial year

In the 2021 financial year 2021, Endress+Hauser has achieved new records in incoming orders, sales, profit and headcount and continued to carry this momentum into the new year. Although the Ukraine conflict is dampening hopes for continuation of the solid growth, the company considers itself well equipped for a difficult economic environment.

Endress+Hauser delivered 2.6 million instruments in 2021. “Our customers placed a high degree of trust in us,” said CEO Matthias Altendorf at the annual media conference in Basel. Despite strains on the procurement markets and logistics chains, the company ensured material availability around the world and maintained its high delivery performance. As a result, Endress+Hauser could not only build on the pre-Covid period but significantly improve key business metrics.

Broad-based growth

Net sales rose 11.7 percent to 2.879 billion euros. The Group experienced dynamic growth in Asia and America and a solid performance in Europe. While Africa was up, business in the Middle East, with its heavy dependence on the oil & gas industry, suffered a decline. China extended its lead as the company’s strongest sales market, followed by the US and Germany. Behind this development the CEO sees catch-up effects, as well as renewed demand in nearly all industries.

Vocational training campaign and focus on sustainability

The family-owned company had 15,117 employees worldwide at the end of 2021, 663 more than the year before. Endress+Hauser wants to strengthen its commitment to vocational training and eventually double the number of apprentices, students and interns over the coming years. In the independent EcoVadis sustainability audit, Endress+Hauser scored 76 points, four more than the previous year. In addition, the company has created the position of corporate social responsibility officer at Group level.

Scores of innovations, extensive investments

In 2021 Endress+Hauser spent 213.4 million euros on research and development, roughly 7.4 percent of sales and an increase of 9.4 percent over the prior year. 258 initial patent filings around the world testify to the Group’s strong spirit of innovation. The intellectual property portfolio currently encompasses 8,600 active patents and patent filings. Endress+Hauser invested 192.8 million euros in 2021 (6.4 percent less than 2020).

Above-average rise in profit

While expenses for materials, logistics and personnel rose, costs for business travel, customer support and trade fairs remained under the level of previous years, owing to the coronavirus pandemic. Operating profit (EBIT) increased 28.8 percent to 434 million euros. Return on sales (ROS) climbed three points to 16.1 percent. Net income grew 40 percent to 356.8 million euros due to a lower tax rate. The equity ratio reached 79.1 percent, an increase of 2.1 percentage points.

War in Ukraine overshadows outlook

Endress+Hauser started the year with records in order backlog, and incoming orders were above plan for the first quarter. Although the Group planned growth in the upper-single-digit range for 2022, at the moment it is uncertain whether this target is attainable. “What’s important is not whether we by any means reach our financial targets, but that we continue to provide our customers with the best possible support in this situation,” said Dr Klaus Endress, President of the Supervisory Board.



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