Sensing Sick grows and expands AI sensor solutions

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The sensor company Sick continued its growth course in the 2023 fiscal year: Sales increased by 5.4 percent to 2.3 million euros. In addition, the company can record over 70 patent applications for software and AI-based automation solutions.

The company Sick, headquartered in Waldkirch, can continue its growth course. Sales increased by 5.4 percent to 2.307 billion euros in the 2024 fiscal year. Earnings before interest and taxes (EBIT) also increased by 15.1 percent to 189 million euros compared to the previous year. Adjusted for exchange rate effects, sales even increased by 8.8 percent compared to the previous year. The entire financial and earnings situation developed positively, according to Sick. The company invested 11.7 percent of its sales in its research and development last fiscal year. "We have increased sales and profits and are proud of this performance in a challenging year," said Dr. Mats Gökstorp, CEO of Sick AG.

"Besides revenue and profit, our profitability also improved. The EBIT margin increased to 8.2 percent from 7.5 percent in the previous year. This characterizes the successful balance between short-term earnings and long-term technology security at Sick," said Jan-H. Eberhardt, Chief Financial Officer at Sick.

Factory automation records strongest growth.

Sick sensor applications are the basis for controlling digital and automated industrial processes in factory, logistics and process industry. In the 2023 fiscal year, Sick was able to record sales increases in these three business fields, with factory automation showing the strongest growth of 6.9 percent to 1.185 billion euros. Process automation grew by 5.8 percent to 348 million euros in sales. Logistics automation, following the record years of the Corona pandemic and high growth rates in e-commerce, continued to show solid growth of 2.8 percent to 747 million euros.

In addition to a comprehensive solution portfolio, Sick also has a presence in all established markets and growth regions worldwide. Despite a slightly declining economy, sales in the domestic German market grew by 4.2 percent to 380 million euros. In the EMEA region, sales were disproportionately increased by 12.2 percent 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 percent to 545 million euros came from the large markets of the USA and Brazil. Sales in the Asia-Pacific region fell by 4 percent to 559 million euros. This is attributable to the Chinese market, which was influenced by negative changes in the exchange rate of the Chinese renminbi and general market uncertainties in the region.

More artificial intelligence embedded in sensor hardware.

As of the cut-off date on December 31, 2023, 12,185 employees were working in the Sick Group - an increase of 2.3 percent compared to the previous year. The company focused its staff expansion on the research and development area, increasing the number of employees there by 9.2 percent to 1,760. Ideas from research and development have flowed into marketable products and 137 patent applications from Sick. Software-based solutions accounted for about 70 patents, and the embedding of artificial intelligence in Sick sensor hardware was implemented in more and more applications. Worldwide, the company holds nearly 4,000 patents for technological solutions.

Sensor technology remains a growth market according to Sick, even though short-term economic indicators are cautious in the first quarter of 2024 and a relaxation is predicted only during the course of the year.