23.04.2021 • News
Sick with slight sales decline in 2020
Sales at sensor manufacturer Sick did fall by 2.9 percent to 1.7 billion euros in 2020. However, the Black Forest company is pleased that the decline was not more severe in view of the Corona pandemic and the significantly greater slump in mechanical engineering production overall.
A bird's eye view of Sick's headquarters in Waldkirch (Image: Sick)
After a significant decline in sales in the spring due to lockdowns in many countries and affected sectors, sales recovered in the second half of the year. Thanks in part to strict cost discipline, operating profit (EBIT) actually rose, namely by 5.8 percent to 140.6 million euros. The Ebit margin also increased, from 7.6 percent in 2019 to now 8.3 percent of sales.
According to preliminary figures from the German Engineering Federation (Verband Deutscher Maschinen- und Anlagenbau e.V. (VDMA)), the production value of the German mechanical engineering industry fell by 12 percent in 2020. Seen in this light, Sick can look back on a successful fiscal year. Accordingly, the number of employees also increased by 2.2 percent, to then 10,433.
