Global sales for Endress+Hauser rose by 9.5 per cent over the year 2018June 7, 2019 REDWIRE is news you can use from leading suppliers. Powered by FRASERS.
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Endress+Hauser Canada Ltd. is part of a worldwide organization that continues to revolutionize process automation in numerous industries. The year 2018 was a great period for the parent company, which saw net global sales rise to €2.455 billion – an increase of 9.5 per cent. The corporation invested heavily and created hundreds of jobs while improving profits, in spite of strong headwinds from foreign exchange rates.
High demand, strong economy
The company’s 2018 numbers were announced at the Endress+Hauser Group’s recent annual media conference in Basel, Switzerland on May 14. CEO Matthias Altendorf credited the organization’s substantial growth to many factors. A strong economy in the process automation sector helped, as did continuing high demand from private consumers and recovering oil and raw-material prices. Large-scale projects have made a comeback following years of restrained investment activity.
While Endress+Hauser did very well in Europe, Africa, the Middle East, and the Asia-Pacific region, it saw the strongest growth in the Americas. “After 65 years,” Altendorf said at the conference, “the U.S. replaced Germany as our largest sales market.”
In addition, the Chinese market grew at a double-digit pace, he added. “If this trend continues, China could soon take over the top spot.”
Endress+Hauser spurred its growth by introducing 54 new products in 2018, while filing 287 initial patents. Its research and development expenses increased to represent 7.5 per cent of its sales. By the end of last year, the company held close to 7,800 patents and other intellectual property rights. About one-third of the new patents were related to the Industrial Internet of Things, digital communications, diagnostics, and electronics.
Sustainability is another factor in Endress+Hauser’s growth. Last year, the company scored 68 out of 100 on the EcoVadis benchmark, placing it in the top five per cent of its comparison group. “As a family-owned company, sustainable development is important to us,” said Altendorf.
So far this year, Endress+Hauser’s incoming orders and net sales are moving at higher than 2018 rates. As a world leader in process automation, the company looks forward to further success in 2019 and beyond.
To learn more, contact Endress+Hauser.