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Annual Report 2021
Strained supply chains, new virus variants and rising commodity prices: 2021 was another very challenging year for B. Braun. Yet, despite all the uncertainty in the markets, we stayed by our customers’ side as a strong partner. This accomplishment was especially possible thanks to our 66,000 employees around the world, whose outstanding commitment ensured the supply of health care systems.
In the 2021 reporting year, B. Braun sales grew 7.4 percent at constant exchange rates. This puts us above our strategic target growth range of 5 to 7 percent. Sales in the reporting currency increased 5.8 percent to € 7.9 billion (previous year: € 7.4 billion).
At the start of 2021, B. Braun was reorganized: the Out Patient Market division was integrated into the Hospital Care and Avitum divisions; the Aesculap division was unchanged. All three divisions saw good sales increases in 2021. Our domestic market of Germany performed well in the reporting year, and sales around the world largely increased, especially in the US, Brazil, China, India and Australia.
We were unable to improve our earnings in the reporting year. In particular, the coronavirus pandemic influenced the situation for earnings in the Aesculap and Avitum divisions. Starting in the second half of the year, supply shortages, significant increases in component, raw material and energy prices, and a sharp rise in freight costs prevented our earnings from growing more. Through a comprehensive review of ongoing projects and of the current cost structure, we have identified areas for potential improvement.
|2020||2021||Change in %|
|Sales (in € million)||7,426.3||7,859.8||+ 5.8|
|EBITDA (in € million)||1,103.2||1,101.9||- 0.1|
|Profit before taxes (in € million)||416.1||408.6||- 1.8|
|Consolidated net income (in € million)||301.5||300.1||- 0.5|
|Employees (as of December 31)||64,317||66,234||+ 3.0|
Despite the challenging market environment, we invested over € 1 billion in both new production facilities and research and development projects to grow and secure our business activities in 2021. We expanded our core business capacities by expanding and optimizing our locations in Germany, Switzerland, Spain, the US and Vietnam. We acquired additional shares in Schölly Fiberoptic, a specialist in the field of endoscopic visualization. We also expanded our global network of renal care centers. We invested € 416.9 million (previous year: € 369.8 million) in research and development, 12.7 percent more than the previous year.
As a family-owned company, we always have the next generation in mind, which is why we have embedded our responsibility for sustainable growth into our business processes. In 2022, we will begin reporting our sustainability data and the sustainability goals we have established in our first integrated Annual Report. In the section “Our Responsibility”, we are making B. Braun’s sustainable growth transparent.