The management consultancy Munich Strategy conducted the “Innovation Champions 2021” study on behalf of business weekly WirtschaftsWoche and selected the 100 most innovative SMEs in Germany. Sihl GmbH ranked 12th with 180 points from a list of 4,000 companies.

“Innovation is our DNA, and to be one of Germany’s top 12 most innovative SMEs is a major accolade for us. It shows that we have successfully bridged the gap between tradition and modernity to create unique solutions, trends and potential for our customers,” says Peter Wahsner, CEO of the Sihl Group.

Sihl’s corporate strategy is geared toward innovation, with the focus not only on its core business but also and above all on research and development. With comprehensive technology and market scouting, new opportunities are being developed. For example in flexible packaging with Artysio, or in the area of customization and personalization with the joint venture Perigon.

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 100 “Innovation Champions 2021” 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 characterized 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 the last four years.

“The most innovative companies create real added value for their customers that goes far beyond the mere product,” explains Barbara Siegert, innovation expert and author of the study. “Internal processes or production methods are being improved, and traditional business models are increasingly being replaced by customer-centric digital products and services.”