Sensirion Shifts Focus from Condition Monitoring to Methane Emission Service

Sensirion Holding AG has announced the termination of its condition monitoring services to prioritize its data-based methane emission monitoring service. This strategic pivot follows a comprehensive review of its innovation projects, aiming to refine the company's focus and enhance its strategic alignment.

The ceased operation in condition monitoring, particularly from the acquired startup AiSight in Berlin, is anticipated to result in non-cash impairments of approximately CHF 25 million, along with restructuring costs and provisions for closing the Berlin site, totaling CHF 3-5 million in 2024. Sensirion projects a minor improvement in operating cash flow, commencing in 2025, as a consequence of this decision.

Marc von Waldkirch, CEO of Sensirion, emphasized that innovation involves both opportunities and risks. He acknowledged the successes of past projects but noted the importance of making decisive moves when initiatives do not meet expectations. The focus now shifts to the burgeoning field of methane leak detection, buoyed by supportive environmental regulations in the US and Europe.

Financially, Sensirion assures that these changes will not significantly impact its medium and long-term growth prospects, maintaining its previously issued forecast for 2024. The company also expresses commitment to supporting the employees affected by the Berlin site's closure in finding new employment opportunities.