Solid Results Cap Off 70th Anniversary Year for Endress+Hauser
Endress+Hauser, a global leader in measurement and automation technology, has concluded its 70th anniversary year with impressive growth figures. Despite global economic fluctuations, the company has seen a significant increase in incoming orders, sales, profits, and employment throughout 2023. With a positive outlook for 2024, Endress+Hauser’s annual media conference in Reinach, Switzerland, was a testament to the company’s enduring success and adaptability.
Leadership and Legacy
2023 began with a pivotal leadership change, with Dr. Peter Selders stepping up as the Group’s CEO, succeeding Matthias Altendorf who now serves as president of the Supervisory Board. This transition underscores a shared vision to future-proof the family-owned enterprise, fostering sustainable growth and innovation.
Financial and Operational Achievements
The company reported a record high in order volume at the start of 2023. Despite the economic downturns in the latter half of the year, Endress+Hauser’s performance exceeded expectations, with organic growth offsetting negative currency effects and the withdrawal from the Russian market. The Group’s net sales escalated by 11.0 percent, reaching 3.719 billion euros. Growth was consistent across all regions and sectors, with significant contributions from Europe, the Americas, and especially the Middle East. Notably, the USA overtook China as the Group’s largest market.
In terms of profitability, increased efficiency led to a notable rise in operating profit by 20.3 percent, culminating in a robust return on sales of 14.4 percent. This financial strength has been directed back into the company, with 260.6 million euros invested in infrastructure and technological advancement in 2023 alone.
Innovation and Sustainability at the Forefront
Endress+Hauser’s commitment to innovation is unwavering, with over 1,300 employees engaged in research and development, reflecting a 10.4 percent increase in R&D spending from the previous year. Sustainability and digitalization are identified as intertwined drivers of the company’s business strategy. In alignment with these priorities, Endress+Hauser has joined the Science Based Targets initiative (SBTi) with the goal of achieving net-zero greenhouse gas emissions by 2050.
Expanding Global Presence
The company’s global workforce expanded by 715 in 2023, bringing the total number of employees to 16,532. This growth underscores Endress+Hauser’s role as a key player in the sustainable transformation of the industry. The company’s ambitious investment in infrastructure and global operations, including several major projects across Germany, China, the USA, and more, illustrates a forward-looking approach to meeting broadening market demands.
Strategic Partnerships and Future Outlook
A noteworthy development in 2023 was the announcement of a strategic partnership with German sensor manufacturer SICK, aimed at enhancing offerings in process automation and supporting critical issues like environmental protection and the energy transition. Looking ahead to 2024, Endress+Hauser is cautiously optimistic, with plans to introduce 70 new products and create 300 new jobs worldwide, signifying a steadfast commitment to innovation, sustainability, and global market leadership.
As Endress+Hauser steps into another decade, its legacy of market leadership, coupled with a forward-thinking approach towards technology and sustainability, continues to set benchmarks in the industry. With a heritage rooted in innovation and an eye on the future, Endress+Hauser is well-positioned to navigate the challenges and opportunities of the coming years.
