Management consultancy Munich Strategy conducted the “Innovation Champions 2022” study on behalf of business weekly WirtschaftsWoche and selected the 100 most innovative SMEs in Germany. After 2021, Sihl GmbH is in the top 30 again this year too.
“Innovation is part of our DNA, it’s something that we live and breathe every day and being recognised as one of Germany’s most innovative medium-sized companies is a major accolade for us,” comments Peter K. Wahsner, CEO of the Sihl Group, about the Group’s success.
Innovation is an important part of Sihl’s company strategy. With comprehensive technology and market scouting, new opportunities are being developed, for example in the area of personalisation with the PERIGON joint venture. The core business is still dynamic too and products are always being further developed, especially in the areas of sustainability and recyclability, in order to look after the environment for future generations.
100 innovation champions chosen from 4,000 companies
For the study, Munich Strategy looked at and evaluated 4,000 German companies with a turnover of between EUR 10 million and EUR 1 billion. Finally, it selected the “TOP 100 Innovation Champions 2022” from 400 finalists that distinguished themselves as industry leaders and through innovations.
The basis for the final selection was an “innovation score”, which is calculated as two-thirds innovativeness and one-third company performance. To determine innovativeness, Munich Strategy examined the extent to which companies are characterised by continuous innovations (innovation vitality), whether they are considered innovative by the market and competitors (innovation perception), and whether they invest in innovations on a sustained basis (R&D and tech power). Performance is calculated on the basis of sales growth, earnings ratio and EBIT growth over recent years.
“When it comes to innovation, one thing that all 100 champions have in common is their ability to deliver solutions for multiple needs and challenges that we are facing at this time. The cornerstone for lasting success is cemented by their comprehensive understanding of innovation and alignment of their business model in accordance with this,” explains Barbara Siegert, innovation expert and author of the study.
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