News

German audio equipment and portable electronics manufacturer Sennheiser intends to wind up its business in Russia. This was reported by TASS, citing the company financial information register, Fedresurs.

According to the agency, the decision was made on 26 August, and a liquidator has already been appointed at the Russian representative office. The decision to liquidate was made by the company's sole member, German Sennheiser Global Operations, according to a notice on Fedresurs. Sennheiser Audio LLC has been operating in Russia since 2006.

Sennheiser's deliveries and sales to Russia were suspended in 2022. According to TASS, in 2023–2024, the company was considering alternative ways to export its products to Russia.

The primary global manufacturers of microphones and audio/radio systems are in the United States, Germany, and, for some specialised products, Denmark and Australia, Sennheiser's Russian subsidiary said in its 2024 report. "These high-tech products have no close counterparts in terms of technical characteristics among manufacturers in other countries," it said. Deliveries of these products to Russia via third countries are severely limited, partly due to contractual payment difficulties, the report said.

According to state accounting (financial) reporting resource data, Sennheiser in Russia had a net loss of RUB 44.8 million in 2024. The average number of employees in the Russian subsidiary for 2024 and 2023 was 26. The company paid RUB 12.2 million in income tax in 2024 and RUB 17.7 million in 2023.

Sennheiser is controlled by the Sennheiser family. The group's turnover in 2024 amounted to €492 million.