Endress+Hauser increased sales and profit in 2017. The Group benefited from stronger industry conditions and introduced a wide range of product innovations, including the first digital services offering. Numerous new hires, substantial investments and great strides in the area of sustainability underscore the Group’s balanced growth.
In 2017 net sales rose 4,8% to 2,241 billion euros. However, the appreciation of the euro against most other currencies distorts the picture. “When adjusted for local currencies, we grew at a 6,5% and the instrumentation business enjoyed 8% growth,” said CEO Matthias Altendorf during the Group’s annual media conference in Basel. “We are confident that Endress+Hauser has strengthened its market position.”
Broad-based growth
A strong consumer business environment, stabilising oil prices and low interest rates in 2017 led to greater investment activity in the process industry. “Apart from having to expand capacity, companies were looking for ways to produce more competitively, reliably and sustainably,” said Altendorf.
The business performed well across practically all regions and industries. Two of the three largest markets, China and the US, grew dynamically. In Germany, the Group’s top market, sales by the year-end had yet to catch up with the rise in incoming orders. The solid growth was supported by a wide variety of industries, with the oil and gas contributing to growth yet again. Development in the power and energy sector was driven in particular by the area of renewable energy.
Impetus from digitalisation
Digitalisation is playing an increasingly important role. With concepts of the IIoT taking shape, Endress+Hauser introduced its first digital service for analysing and managing the installed base of field devices. “Our customers have realised that the Industrial Internet of Things is changing their value chains,” explained Altendorf. “A new degree of transparency makes it possible to optimise processes and gain in efficiency.”
Solid outlook for the current year
Endress+Hauser is off to a good start this year with a strong increase in incoming orders. The Group is planning growth in the mid-single-digit range and anticipates profitability remaining at the current level without extraordinary effects. 223 million euros have been set aside for investments and the Group plans to create up to 500 new jobs worldwide. “Incoming orders are currently tracking above our target,” concluded Altendorf. “We expect 2018 to be another good year for Endress+Hauser.”
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