Annual Report 2023
A challenging fiscal year for the Eppendorf Group
2023 was one of the most challenging fiscal years in Eppendorf’s history, demanding a great deal from the global team and putting all of the company’s employees under much strain. The year was characterized by harsh economic conditions, geopolitical crises and steep price increases along the entire value chain.
The Eppendorf Group recorded consolidated revenue of €1.081 million in the reporting year (prior year: €1.234 million). In comparison with the same period last year, this corresponds to a decrease of 12.3% (prior year: +12.1%). The Eppendorf Group’s operating profit (EBIT) likewise declined, coming to €113.8 million in 2023 (prior year: €225.6 million). This equates to an EBIT margin of 10.5% (prior year: 18.3%).
Strengthening resilience and staying competitive
In addition to the key financial figures, the new annual report provides many details on the development of our business in the Market Regions and in the Business Divisions. It also provides information on numerous highlights from the past year, such as new, innovative products that were launched. It also reports on products that have been tried and tested for years, such as the "Eppi", which celebrated its 60th birthday in 2023. You can also read details about the activities at Eppendorf's locations worldwide and find out about the numerous successful digitalization measures in various areas, such as the Global Supply Chain. Finally, the topics of sustainability and corporate citizenship are also covered in detail.
The past reporting year demonstrated the importance of flexible and adaptable processes and structures that make it possible to respond quickly to dynamic market developments. To this end, the Eppendorf Group initiated a comprehensive program in fall 2023. Originally referred to as the Eppendorf Fitness Program, it aims to increase the Group’s resilience. The initiative for the future, which has been running under the heading Empowering Eppendorf since 2024, centers on developing measures that will enable the company to remain profitable and grow sustainably in the long term. The objectives were defined in the reporting year and will be elaborated and implemented in 2024.
Outlook for the 2024 fiscal year
The life science industry will continue to grow in the long term. However, the development of global markets in 2024 will remain subject to uncertainty and volatility as well as a number of specific challenges. As a result, the financial year will again be dominated by cost management, budget discipline and savings to improve profitability. Contrary to expectations, demand for our products is recovering only slowly so far. We expect order intake to stabilize in 2024 and development for the year as a whole to be at the same level as the previous year.
