Endress+Hauser weathers the COVID crisis and keeps profit stable

Endress+Hauser has bridged the physical distance to customers with digital and emotional proximity.

The COVID crisis has had a devastating effect on lives and businesses all over the world. But The Endress+Hauser Group – including its local affiliate, Endress+Hauser Canada Ltd. – has emerged in good shape. Despite a slight decrease in sales over 2020, both profit and employment have remained stable.

The company’s financial solidity has not suffered over the Coronavirus pandemic, and it has even increased employment to a small extent.

Over 100 more workers

At the end of last year, the company employed more than 14,400 people around the world – which is over 100 more that it did a year before. Endress+Hauser managed to avoid short-time work during the COVID crisis. And although sales development in 2020 fell considerably short of the targets, the corporation still maintained profits at a strong level.

Largely as a result of the exchange-rate effects of the COVID crisis, the Group’s consolidated sales fell by nearly three per cent, to just under €2.6 billion, over 2020. Even a strong laboratory business could offset such shortfalls only partially in process automation, a sector that was hit harder than other industries were by the effects of the pandemic.

Despite COVID-19, Endress+Hauser has remained able to deliver. Digital and emotional proximity has helped the company bridge the physical distance to customers. Even if the pandemic continues to dominate the headlines for the next few months, the Group is well-equipped to withstand it; with continued strength in innovation, it plans to launch more groundbreaking new products this year than ever before.

Endress+Hauser is not expecting the global economy to recover from the COVID-19 pandemic until the end of the year. The Coronavirus crisis will continue to have different effects on individual market regions, customer sectors, and fields of activity for some time. But the corporation is already off to a good start in 2021. Although it predicts growth no larger than in the single-digit percentage range this year, it anticipates profits under high pressure.

The company plans to present its audited 2020 financial figures in Basel, Switzerland on May 4 of this year.

For more information, contact Endress+Hauser.

• Tweet