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Sennheiser EN

CONSOLIDATED MANAGEMENT REPORT 2014 2.3 Position of the Sennheiser Group 2.3.1 Net Earnings Position The Sennheiser Group’s sales increased by €30.0 million in fiscal year 2014 to a total of €50.6 million. Expendi- tures for materials and human resources increased in this context. However, other cost items were able to be maintained at the previous year’s level. Therefore, the increased earnings can be traced back to improved company performance coupled with only a slight increase in expenditures. 2.3.2 Staff growth Personnel costs grew by 8.1 percent over the previous year. This can be attributed both to the increase in employee profit sharing due to the improved earnings situation as well as the rise in the number of employees. The annual average staff level at the Sennheiser Group increased by 2.3 percent to 2,600 employees in 2014, including 76 trainees (previous year: 78). Part-time employees were counted as 0.5 and full-time employees as 1 to determine the number of personnel. At the end of the year, the number of employees at the Sennheiser Group was 2,707 (previous year: 2,620). On average, 51 percent of all employees worked at companies in Germany and 49 percent at companies abroad. Employees Annual average number of employees change from previous year, in percent 2,500 2,000 1,500 1,000 500 0 2010 2011 2012 2013 2014 2,117 –0.7 % 2,183 +3.1 % 2,542 +9.1 %2,329 +6.7 % 1,281 Abroad 49 % 2,600 +2.3 % 1,319 Germany 51 % 13 20102011201220132014

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