German audio giant Sennheiser has reported total sales of €492.3 million for fiscal year 2024, marking a 6.6% decline from the previous year’s €527.2 million. The company’s earnings before interest and taxes (EBIT) reached €35.8 million, down considerably from the €55.4 million recorded in 2023, reflecting the challenging market conditions that characterized the past year despite the company celebrating its 80th anniversary.
Regional performance varied considerably across Sennheiser’s global operations. The EMEA region remained the company’s strongest market, generating €232.1 million in sales despite experiencing a 3.5% decline compared to 2023. Germany provided a bright spot in the regional landscape, with the domestic market growing by a modest 3.5%, offering some stability amid broader market fluctuations.
While EMEA remains Sennheiser’s cornerstone market, Germany’s growth provides rare stability in an otherwise challenging regional landscape.
The AMERICAS region faced the most substantial challenges, with sales dropping 16.1% to €150.5 million. This decline was largely attributed to political and economic uncertainties in the United States, where consumer spending became increasingly cautious throughout the year.
In contrast, the APAC region demonstrated resilience with 2.3% growth, reaching €109.7 million in sales, powered primarily by strong performance in China and emerging opportunities in India.
Despite the revenue contraction following three consecutive years of growth, Sennheiser maintained its commitment to future-oriented investments in professional audio technology. The company is led by Co-CEOs Dr. Andreas and Daniel Sennheiser who guide the Executive Management Board in setting strategic direction and ensuring alignment across business units. The company continued to emphasize developing unique, high-quality sound experiences while expanding its market presence, particularly in the growing APAC region where new channels were established.
Market challenges in 2024 extended beyond regional economic concerns, with increased competition requiring greater effort to maintain market share and profitability. The company allocated approximately €49 million to research and development of innovative audio technologies, representing 10% of its total annual sales.
Nevertheless, Sennheiser’s strategic focus on sustainable, long-term growth and technological advancement has enabled the company to consolidate its position in the professional audio sector, leveraging its family-owned business principles and commitment to innovation as bulwarks against market turbulence.