Based on the ramp-ups of the new product families of carbon dioxide (CO₂) and particulate matter (PM2.5) sensors and strong market diversification, demand for Sensirion’s sensor solutions was robust. At the same time, Sensirion recorded a one-time COVID-19-related strong increase in demand for sensors for ventilators. Consolidated revenue amounted to CHF 253.7 million and the gross margin reached 57.6% resulting in a high adjusted EBITDA margin of 27.1%. In the mid and long term, Sensirion is confident about the coming years as the new product families will support further growth.
For Sensirion Holding AG, a pure-play sensor company offering environmental and flow sensor solutions, the coronavirus year 2020 proved to be very multi-faceted: despite many COVID-19-related restrictions and challenges, additional opportunities opened for Sensirion. On the one hand, demand for Sensirion’s sensor solutions was very robust, which can be attributed to the successful ramp-ups of Sensirion’s new product families (CO₂, PM2.5) and a continued strong market diversification. On the other hand, Sensirion recorded a COVID-19-related strong increase in demand for sensors for ventilators. This enabled Sensirion to raise its outlook for 2020 twice, in June and in December. Sensirion is also confident about the coming years: the new product families in the environmental area and numerous ongoing projects will support further growth. In addition, Sensirion has been able to set the course for new business areas in recent months that should contribute to the company’s longer-term growth after a few years of development.
Strong revenue and profitability growth
Consolidated revenue amounted to CHF 253.7 million (+48.4% compared to the prior-year period, +53.5% organic, -5.1% foreign currency effects). Of this amount, CHF 77.0 million (prior-year period CHF 7.0 million) came from gas flow sensors for ventilators. Even without this one-time COVID-19-related effect, the pandemic year showed good growth of +7.4% (+12.5% organic, -5.1% foreign currency effects) compared to the previous year. The gross margin improved to 57.6%, and the adjusted EBITDA margin reached a high 27.1%, both thanks to economies of scale from the one-time additional business in the medical sector. The operating profit was CHF 51.1 million, resulting in a net profit for the period of CHF 41.9 million. Operating cash flow amounted to CHF 53.3 million.