Sick AG continues its growth course

Adjusted for exchange rate effects, sales even increased by 8.8% compared to the previous year. The overall financial and earnings situation developed positively. The company invested 11.7% of its turnover in research and development in the past financial year. Sick is putting its solution portfolio on a broad footing and aims to support customers with industrial digitalization. The company filed 70 patent applications for software and AI-based automation solutions in 2023 alone and further developed its sensor intelligence. A total of 12,185 employees work for Sick worldwide.

"Flexibly adapted to the fast pace of market dynamics"

The company's sales revenue increased by a total of 5.4% to 2,307 million euros. Earnings before interest and taxes (EBIT) also increased year-on-year by 15.1% to 189 million euros. "We have increased sales and profits and are proud of this performance in a challenging year. More than 12,000 people in the global Sick team have worked passionately on new solutions for our customers, adapting flexibly to the fast pace of market dynamics and technological progress. The positive business development in 2023 motivates us to shape industrial digitalization together with our customers and partners, even in persistently challenging times," said Dr. Mats Gökstorp, CEO of Sick AG.

The 2023 financial year was characterized by the spread of geopolitical conflicts, a slowdown in the global economy, more difficult financing conditions with high inflation rates and key interest rates and a resulting reluctance to invest. "In addition to turnover and profit, our profitability also improved. The EBIT margin increased to 8.2% from 7.5% in the previous year. This characterizes the successful balance between securing short-term earnings and long-term technology at Sick," explained Jan-H. Eberhardt, CFO of Sick AG.

Market and employee growth worldwide

Sick sensor applications are the basis for controlling digital and automated industrial processes in the factory, logistics and process industries. In the 2023 financial year, Sick recorded sales increases in these three business segments, with factory automation showing the strongest growth of 6.9% to EUR 1,185 million. Process automation grew by 5.8% to 348 million euros in sales. Logistics automation continued to show solid growth of 2.8% to EUR 747 million following the record years of the coronavirus pandemic and high growth in e-commerce.

In the home market of Germany, sales grew by 4.2% to 380 million euros despite a slight economic downturn. In the EMEA region, sales increased disproportionately by 12.2% to 823 million euros. This positive development is reflected in many countries, particularly in large European markets such as the UK and Italy. Sales growth in the Americas region of 7.1% to EUR 545 million was achieved in particular in the major markets of the USA and Brazil. Sales in the Asia-Pacific region fell by 4.0% to 559 million euros. This is attributable to the Chinese market, which was impacted by negative changes in the Chinese renminbi exchange rate and general market uncertainties in the region.

9.2 percent more employees in research and development

As at the reporting date of December 31, 2023, the Sick Group employed 12,185 people - an increase of 2.3% on the previous year. The company focused on research and development when expanding its workforce. The number of employees in this area increased by 9.2% to 1,760. Innovative ideas from research and development have flowed into marketable products and 137 patent applications from Sick. Software-based solutions accounted for around 70 patents and the embedding of artificial intelligence in Sick sensor hardware was also implemented in more and more applications. The company holds almost 4,000 patents worldwide for technological solutions that support customer companies in controlling digital and automated industrial processes.

"Like many industrial companies, Sick has started the new financial year with the appropriate caution and the necessary cost awareness. With our broad portfolio of solutions for industrial digitalization and a dedicated global team, we are convinced that we can meet the current and future requirements of our customers in the best possible way," says Sick CEO Dr. Mats Gökstorp.