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Annual Report 2024

Empowering
Eppendorf

Annual Report 2024

Editorial

Editorial
Dr. Christine Munz, CEO
"The year 2024 will be remembered for the outstanding team effort by all of our employees. They were the ones who made the successful start to Eppendorf’s realignment possible."
Editorial

Foreword
by the
Management
Board

Rarely has Eppendorf faced great challenges throughout an entire year – the result of both tough markets and the company’s successful realignment.
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Facts &
Figures


980.3
million €
Total revenue of the Eppendorf Group in fiscal year 2024
70.6
million. €
Investments in research & development
4,0
%
EBIT margin in 2024
-9,1
%
total revenue compared
with the previous year

Financial section

The measures initiated to achieve targeted cost reductions and increase the company's profitability are taking effect.

Combined
Management Report Consolidated
Financial Statements Report of the
Supervisory Board

Empowering
Eppendorf

Launched in April 2024, the Empowering Eppendorf program aims to increase efficiency and capacity for innovation throughout the group and ensure sustainable growth.

ANNIVERSARYExcellence
by Eppendorf
THE NORTH STARA clear course
for a successful
future
STRATEGYNew tier
for company
management
AUTOMATION & CELL BIOLOGYNew
products
ESG ReportingTransparency
for sustainable
growth

Outlook for
2025

For the long term, we continue to strongly anticipate sustained growth in the global life sciences industry. Nevertheless, uncertainty and volatility, as well as a range of political, economic, and geopolitical challenges will continue to shape the development of global markets in 2025. Eppendorf will keep working on the Empowering Eppendorf program while maintaining a strategic approach to cost management and demonstrating strict budget discipline over the new fiscal year.

We are witnessing a continued recovery in demand for our products and expect incoming orders to stabilize further in 2025. We foresee moderate growth within the single-digit percentage range for the entire fiscal year, compared to the previous year.

Annual Report 2024

The Eppendorf Group’s realignment has achieved key milestones.
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Precision, reliability and intuitive usability

Eppendorf launched its first centrifuge, the 3200, onto the market in 1964. Since its introduction 60 years ago, Eppendorf has expanded its portfolio of innovative, premium devices for a wide range of applications on a continuous basis. The precision, reliability, and intuitive usability that define every Eppendorf centrifuge contribute directly to scientific advancement. Eppendorf offers a one-stop shop solution with its centrifuges, available in nearly every country worldwide, enabling customers to meet all their needs and requirements with Eppendorf products. Eppendorf has been constantly working on further developments and investing in innovative technologies for 60 years.

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Strong core business – new priorities

To fulfill its purpose of improving human living conditions, Eppendorf needs a clear, unequivocal direction for its entire Group. The Eppendorf North Star serves as a reliable point of reference in this respect. It is the basis for the company’s strategic orientation and defines where the company aims to be in the future. Eppendorf will continue to invest significantly in its primary product lines: pipettes, consumables, and centrifuges. They will remain the company’s core business as it seeks to defend its strong market position in the academic arena. At the same time, Eppendorf has established a new strategic direction centered on the rapidly growing biotech and pharmaceuticals sectors.

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Management competence shared among multiple individuals

Another new element introduced within the Empowering Eppendorf program is the Group Executive Committee (GEC). Since April 2024, management competence has been shared among multiple individuals. These comprise the company’s Management Board members (CEO, CFO, CTO, and COO) and the Senior Vice Presidents of the three Commercial Units and the two Business Divisions.

With the new committee in place, the company’s leadership is now more broadly positioned in terms of competence and operational practice, thus bringing notably more perspectives into discussions. The GEC assists and advises the Management Board in managing the Eppendorf Group, easing its workload, and is responsible for implementing board resolutions. The new committee also acts as an advisory and feedback mechanism for the Management Board, a function that had not previously existed in this form.

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New products
for growing markets

As one of the world's leading companies in liquid and sample handling, Eppendorf draws on a strong portfolio, consisting of pipettes, consumables, and centrifuges. These products are highly regarded and safeguard the company’s future success. Eppendorf sees significant potential specifically in the expanding pharma and biotech segments and is focusing its efforts heavily on these markets. For example, during the reporting year, new innovative products were launched onto the market with this aim. These included the epMotion® 96 Flex, the CellXpert® CS220, the further enhanced Bioprocess Autosampler, and new Eppendorf Consumables BioBased, which all offer significant added value for Eppendorf customers.

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Future-oriented transparency for sustained growth

In 2024, significant progress was made in implementing the Corporate Sustainability Reporting Directive (CSRD), which has now become obligatory for Eppendorf from the fiscal year 2025 onward. A cross-divisional ESG reporting project has been initiated that unites the expertise of the Sustainability & HSE, Corporate Finance, Global IT, and Corporate Controlling Departments to create a robust, future-proof reporting format. One milestone for this project comprised conducting a double materiality assessment that considers both the financial implications of sustainability matters for Eppendorf’s business and the company’s impact on society and the environment. This assessment was used to validate the four sustainability goals as strategic fields of action (climate change, natural resources, social compliance, and social well-being), which will serve as the basis for the reporting framework.

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Focusing on profitability,
aiming at growth

The Empowering Eppendorf program represents a pivotal initiative for the Group, designed to fortify its long-term position, ensure global competitiveness through strategic measures, and achieve enduring profitability. Successfully launched in 2024, the program already showed early signs of improvement in efficiency and progress toward its set goals by the end of the fiscal year. The company paid close attention to its day-to-day operations and to its customers around the world to ensure they received the continued same high quality for its products and services.

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