In the challenging financial year 2023, SICK Group achieved further growth in both turnover and EBIT; At the same time, more software-based AI sensor solutions are provided for industrial digitalization.

Achievement review

In the challenging fiscal year 2023, SICK Group continued to maintain a solid growth trend. Group turnover increased by 5.4% to €2.307 billion. Excluding exchange rate effects, group turnover even increased by 8.8% compared to the previous year. The overall financial position and earnings are sound.

In fiscal year 2023, the company invested 11.7% of its turnover in research and development. SICK continues to offer a broad and future-proof portfolio of solutions to support the industrial digital transformation of customers around the world. The company filed 70 patent applications for automation solutions based on software and AI technology in 2023, further promoting the rapid development of sensor intelligence. With 12,185 employees worldwide, SICK will always be there for you.

MPU55 369B1860G0030 Overview of important key data from SICK AG for fiscal year 2023

Challenge and response

SICK is not only doing well in its business, it is also successfully meeting its expectations. Turnover increased by 5.4% to 2.307 billion euros. Earnings before interest and tax (EBIT) increased by 15.1% compared to the previous year to €189 million.

Chairman of the Board of Directors of SICK AG

Dr. Mats Gokstorp

“Fiscal year 2023 was challenging, but we were able to grow both turnover and profit and we are very proud of what we have achieved. SICK’s more than 12,000 employees worldwide are passionate about developing new solutions for their customers, aiming to quickly adapt to market dynamics and achieve technological advances. Despite the challenges ahead, the good business performance in FY2023 encourages us to work closely with our customers and partners to build industrial digitalisation, “said Dr. Mats Gokstorp, Chairman of the Board of Directors of SICK AG.

The fiscal year 2023 was marked by spreading geopolitical conflicts, slowing global economic momentum, tougher financing conditions, and high inflation and benchmark interest rates, which in turn constrained investment.

“In addition to turnover and profit, our profitability has also improved. Ebit improved to 8.2% from 7.5% the previous year. This demonstrates SICK’s successful balance between short-term gains and long-term technical security, “explains Mr. Jan-H. Eberhardt, member of the Executive Board of SICK AG.

Software-based industrial digital sensor solutions

MPU55 369B1860G0030 As of December 31, 2023, SICK had a total of 12,185 employees, an increase of 2.3% compared to the previous year. The focus of staff growth is in research and development. The number of employees increased by 9.2% to 1,760.

Innovative ideas in research and development have been translated into specific products that meet market needs, and SICK has applied for 137 patents. It has 70 patents for software-based solutions and is embedding artificial intelligence into SICK sensor hardware in a growing number of applications. The company holds nearly 4,000 patents worldwide for technology solutions that support customers in the digital management and automation of industrial processes.

Despite the dismal short-term indicators of economic conditions in the first quarter of 2024, with a sustained recovery not expected until late 2024, sensing technologies will remain an important growth market now and in the future.

“Like many industrial companies, SICK begins the new financial year with cautious optimism and the necessary sense of cost control. With our portfolio of efficient industrial digital solutions and the dedication of our employees and teams around the world, we are confident that we can meet our customers’ current and future development requirements in the ideal way, “said Dr. Mats Gokstorp, Chairman of the Board of Directors of SICK.