Ukraine war affects Endress+Hauser financial forecast

Endress+Hauser started the year with record numbers in its order backlog, and incoming orders were above target for the first quarter. Although the group planned growth in the upper-single-digit range for 2022, it is uncertain whether this target is now attainable.

“Russia’s attack on Ukraine changed everything overnight,” said E+H CEO Matthias Altendorf. “This conflict is bringing suffering to millions of people and is impacting many companies at a time when the pandemic is far from over.”
To do its part in protest of Russian aggression in Ukraine, Endress+Hauser stopped all deliveries to Russia at the beginning of the invasion.
“We will adhere to the full scope of the sanctions,” emphasized the CEO. “At the same time, we have a responsibility to our employees and customers in Russia.”
The E+H  sales centre in Russia employs 182 people.
And Altendorf pointed out that E+H wants to continue delivering to companies that supply civil society and are not subject to sanctions, such as those in the food and beverage, life sciences and water and wastewater industries.

“What’s important is not whether we by any means reach our financial targets, but that we continue to provide our customers with the best possible support in this situation,” emphasized Dr Klaus Endress, president of the supervisory board, adding that the employees and management of the group “have the full trust of the supervisory board and the shareholder family.”
“We will stand together in the company and be there for our employees. Together, we will get through these challenging times and continue to be a reliable partner for our customers.”
Click here to read the entire economic forecast from Endress+Hauser.