Sensirion

Inno
va
tors
Annual Report 2024

Sensirion is a pure-play 
sensor company at the forefront of 
sensor innovation and has 
demonstrated a strong track record 
of developing and manufacturing 
sophisticated and cost-effective environ- 
mental and flow sensor solutions for 
the automotive, medical, industrial and 
consumer markets. 
Founded in 1998 as a spin-off 
company of the Swiss Federal Institute 
of Technology in Zurich (ETH Zurich), 
Sensirion has more than 20 years 
of experience in creating best-in-class 
sensor solutions for a variety of 
demanding customer applications, 
including those in which the sensors
perform mission-critical functions.

Contents
Key Figures	
2
Letter to the Shareholders	
6
Business Report	
10
Markets	
10
Strategy	
15
Future Innovations	
18
Corporate Governance	
30
Compensation Report	
56
Sustainability Report	
73
Financial Report	
141
Consolidated Financial Statements	
144
Notes to the Consolidated Financial Statements	
148
Financial Statements of Sensirion Holding AG	
177
Notes to the Financial Statements of Sensirion Holding AG	
179
Shareholder Information	
189

2
Sensirion Annual Report 2024  Key Figures
2022
2022
1,164
2023
2023
2024
2024
Revenue 
(in CHF million)
Revenue by market 
2024 (2023)
Number of employees 
(FTE) as of Dec 31
Revenue by region 
2024 (2023)
Key figures
Automotive
APAC
Medical
EMEA
Industrial
Americas
Consumer
 41 % (43 %) 
44 % (45 %)
15 % (12 %)
5 % (7 %) 
29 % (31 %)
16 % (19 %)
50 % (43 %)
1,225
233.2
276.5
1,293
321.7

3
Key Figures  Sensirion Annual Report 2024
Revenue 
in CHF million
EBITDA Margin
adjusted 1
(EBITDA Margin: 0.1 %)
276.5 
49.2 %
10.5 %
Gross Margin
adjusted 1
(Gross Margin: 48.8 %)
1 Please find the adjustment definition on page 5

4
Sensirion Annual Report 2024  Key Figures
	
In 2024, broad-based return to 
organic growth
High focus on commercial 
product launches to fully realize short 
and long-term growth opportunities
	
	
	
Clear strategic growth levers: 
Market leadership in environmental 
and flow sensing, capturing 
growth opportunities and 
pioneering technology to secure 
long-term growth 

5
Key Figures  Sensirion Annual Report 2024
Consolidated, in millions of CHF
31 December 2024
31 December 2024
adjusted1
 in %
adjusted1 
31 December 2023
Revenue
276.5 
276.5
18.6 %
233.2 
Gross profit
134.9 
136.1
11.8 %
121.8 
– as % of revenue
48.8 % 
49.2 % 
52.2 % 
Operating profit (EBIT)
(18.4)
10.2 
276.1 %
(5.8)
– as % of revenue
(6.7 %)
3.7 % 
(2.5 %)
Profit for the period
(28.9)
4.5 
168.7 %
(6.6)
– as % of revenue
(10.4 %)
1.6 % 
(2.8 %)
Earnings per registered share (in CHF)
(1.85)
0.29
(0.42)
EBITDA2
0.4
29.0
186.3 %
10.1
– as % of revenue
0.1 % 
10.5 %
4.3 % 
Cash flow from operating activities
37.2
(10.9)
Capital expenditures 3
(33.7)
(35.5)
Free cash flow 4
3.5
(46.4)
31 December 2024
31 December 2023
Total assets
347.0 
332.6 
Total liabilities
55.1 
36.9
Total equity
291.9 
295.7 
Net cash (Net debt) 5
54.4
73.1 
Number of employees (FTE)
1,164 
1,293
1	Internally and externally Sensirion uses additional adjusted performance measure (Gross Profit, Operating Profit, EBITDA, profit for 
the period, earnings per share) which are not defined by Swiss GAAP FER. More specifically we define adjustments as certain non-recurring items 
that management believes are not indicative of operational performance. The non-recurring items are cost related to the closure 
of Sensirion Connected Solutions GmbH in Berlin, including Goodwill recycling, impairment loss of the inventory and other costs. The non-
recurring restructuring costs (CHF 28,607 thousand) in period 2024 are reflected in research and development expenses (CHF 26,331 thousand, 
thereof Goodwill recycling CHF 25,583 thousand, non-cash relevant), cost of sales (CHF 1,179 thousand), selling and distribution (CHF 867 
thousand) and administrative expenses (CHF 230 thousand) resultant in an EBITDA impact of CHF 28.6 million (cf note 1.4). 
In addition, the income tax includes the extraordinary tax expenses (CHF 4,809 thousand) related to the closure of Sensirion Connected Solutions 
GmbH because of the impairment to the tax loss carryforwards resultant in a net profit impact of CHF 33.4 million (cf not 2.4 and Sensirion 
Interim Report 2024, note 7.1).
2	EBITDA is calculated as the sum of operating profit or loss and depreciation, amortization and impairment and non-recurring restructuring costs.
3	Defined as the sum of investments in property, plant and equipment, proceeds from sale of property, plant and equipment, investments in 
intangible assets and capitalized development expenditure.
4	Defined as the sum of cash flows from operating activities and cash flows from investing activities, excluding M&A activities.
5	Defined as the sum of cash and cash equivalents less loans and borrowing (current and non-current).
Key figures

6
Sensirion Annual Report 2024  Letter to the Shareholders
Last year, we navigated a challenging environment and 
achieved important operational and strategic progress, 
returning to growth after the difficult year of 2023. We 
experienced a surge in momentum, particularly in the 
second half of the year. The growth was mainly driven by 
new, innovative products, while the global market environ­
ment for our existing business remained challenging. Our 
strategy of continuing to invest in growth projects and 
innovation, even during the crisis year of 2023, has paid 
off. Profitability also improved thanks to revenue growth 
and a rigorous cost optimization program, and is slightly 
above the communicated full-year guidance. However, we 
view the level of profitability as only an interim step. It 
remains our clear objective to further improve profitability 
in the current year and to return to our medium-term target 
in the mid to high teens. 
Our outlook for the coming years remains optimistic due to 
a robust pipeline of new business and strong global mega­
trends such as energy efficiency, climate change and health, 
all of which are being supported by our sensor solutions.
Broad-based return to organic growth 
Total revenue for 2024 came in at CHF 276.5 million, which 
is at the upper end of the guidance published in March. 
This represents strong organic revenue growth of +22.1 % 
in local currencies and +18.6 % in Swiss francs compared 
to the previous year. 
The operating result was significantly impacted by the dis­
continuation of our condition monitoring activities in Berlin, 
which we will cover in more detail later in this letter. 
Adjusted for these one-off effects, the gross margin was 
49.2 %, slightly above the communicated annual guidance 
but lower than in the previous year. This is primarily due 
to the lower-margin module business making up a larger 
proportion of sales. In addition, the underutilization of our 
component manufacturing capacity had a negative impact 
on the gross margin, although this improved through-
out the year. The adjusted EBITDA was CHF 29.0 million 
(10.5 %). At the operating result level, there was an adjusted 
profit of CHF 10.2 million, resulting in an adjusted net profit 
of CHF 4.5 million for the reporting year. Operating cash 
flow increased significantly compared to the previous year, 
Dear Shareholders
coming in at CHF +37.2 million. The measures initiated at 
the end of 2023 to increase productivity and optimize costs 
in the plants and other areas were implemented as planned 
and had a noticeable impact, particularly in the second half 
of the year. Overall, this program reduced the annualized 
operating cost base by approximately CHF 9 million, with- 
out losing sight of the well-filled pipeline of short and 
long-term growth projects.
Solid growth in the automotive and industrial markets; 
stable development in the medical and consumer markets
Revenue in the automotive market increased by 11 % com­
pared to the previous year, coming in at CHF 80.6 million. 
However, the macroeconomic environment in this market 
deteriorated in the second half of the year, reflected in 
particular in fewer call-off orders from European OEMs. 
Nevertheless, we were still able to close the second half of 
the year with an increase in sales (compared to the same 
period last year). The continued growth was mainly driven 
by newly launched module projects as a Tier 1 supplier for 
European OEM customers. Due to economic headwinds, 
the existing Tier 1 and Tier 2 component business remained 
stable or saw slight declines, depending on the application.
The medical market remained almost flat year over year, 
with annual revenue of CHF 44.6 million (−1 % compared to 
the previous year). After a sharp decline in the first half of 
2024 due to inventory reductions and a base effect from 
the first half of 2023, demand recovered well in the second 
half of the year, especially in the CPAP segment. The inven­
tory situation now appears to have normalized, slightly 
earlier than expected. We also benefited from a short-term 
surge in demand from China toward the end of the year, 
ahead of the impending tariffs on Chinese medical prod­
ucts in the US.
After a decline in revenue in 2023, the broadly diversified 
industrial market is showing a promising recovery. Revenue 
increased by 36 % compared to the previous year, reaching 
CHF 137.3 million. This growth was driven primarily by two 
factors: a strong recovery in demand for air purifiers follow­
ing significant corrections in the previous year and the first 
substantial revenue contribution from our new product cate­
gory of A2L leakage sensors for air conditioning systems. 

7
Letter to the Shareholders  Sensirion Annual Report 2024
Marc von Waldkirch (CEO), 
Felix Mayer (Co-Chairman) 
and Moritz Lechner (Co-Chairman)
This new A2L business, which is mainly targeting the US 
market, will also make a significant contribution to revenue 
growth in 2025. The performance of the other segments in 
the industrial sector was mixed. While gas metering recorded 
further growth due to new projects in European countries, 
the cyclical semiconductor business saw a decline.
The consumer market, which tends to be more cyclical, 
has shown only tentative signs of recovery so far. At CHF 
14.0 million (−6 % compared to the previous year), annual 
revenue again came in slightly below the already weak 
2023 figure. This was due in particular to the generally 
poor economic conditions and the inventory situation, 
which was still not fully resolved during the year. Sales 
were also impacted by the persistently weak distribution 
business.
New ambitious growth strategy: We make the difference 
in sensing for a better world
At the Capital Markets Day in Stäfa in November 2024, we 
reflected on the key strategic achievements since the last 
Capital Markets Day back in spring 2021. We also pre­
sented an update on our ambitious growth strategy for the 
next three to five-year growth cycle, guided by our mission: 
“We make the difference in sensing for a better world”.
As an innovative sensor manufacturer, we are strategically 
well positioned and have a positive outlook for the medium 
and long term. We continue to benefit from megatrends 
such as energy efficiency, climate change and health, 
which are driving the increased use of sensors across a 
wide range of applications. At the same time, we have a 
robust pipeline of promising new customer and design-in 
projects in all markets. This strong strategic positioning is 
also the result of our decision to continue investing in 
growth projects, even during the challenging year of 2023.
Our newly defined “strategic growth focus 1” is to strengthen 
our core market for environmental and flow solutions in 
all our end markets. Here, our strategic goal for the next 
medium-term cycle is to further drive and expand our 
already strong market position by new product innova­
tions. One key driver is the miniaturization of all our envi­
ronmental sensors. Thanks to our unique technology that 
combines electronics and sensors on a single chip, the 
second- and third-generation CO2, particulate matter and 
formaldehyde sensors will soon be available in significantly 
smaller form factors. This miniaturization will open up new 
applications for this type of environmental sensing, driving 
focus 1 growth over the coming years. In addition, modules 
or combo modules based on the miniaturized sensor ele­
ments will help to provide our customers with comprehen­
sive solutions for specific applications and thereby make a 
major difference – fully in line with our new mission.
In our “strategic growth focus 2”, we want to leverage our 
strong position in our core business to unlock adjacent new 
applications and business areas. To do so, we are strategi­
cally building on the strength of our proven technology 
portfolio and our broad, long-standing customer base. For 

8
Sensirion Annual Report 2024 Letter to the Shareholders
example, we see significant growth potential in the field of 
leakage detection sensors. The current ramp-up of A2L 
leakage sensors for air conditioning systems in the US is 
just the beginning. We see further potential applications for 
leakage detection in battery monitoring systems in the 
automotive industry and methane leaks in the oil and gas 
industry, for example. The latter is a particular focus of our 
strategic efforts to not only concentrate on hardware but 
also build a service business around sensors and sensor 
data. We made significant strategic progress in this area 
with key customers last year. Finally, we believe that 
medical solutions also offer significant growth potential 
and exciting opportunities in the medium term. We are 
already well positioned with flow sensors that monitor the 
airflow of patients during inhalation and exhalation. In com­
bination with our environmental sensor technology, our 
goal is to measure not only the flow rate but also the com­
position of exhaled air to gather valuable insights into the 
patient’s lung function, circulation and/or metabolism.
Our “strategic growth focus 3” remains on in-house develop- 
ment and the targeted acquisition of sensor technologies 
as the basis for further long-term growth in new areas. This 
approach has already proved successful in the past. For 
instance, our early in-house development of technology for 
leakage measurement has laid the foundation for our 
strong position in the emerging market for A2L leakage 
sensors in the US air conditioning market.
Sustainability: a market driver and an ethical responsibility
Energy efficiency and the looming threat of climate change 
are powerful megatrends that have been driving our busi­
ness for years. Our innovative sensor solutions help to sig­
nificantly reduce the daily energy consumption of modern 
cars and air conditioning systems, for example, or to monitor 
emissions of the environmentally harmful gas methane. 
At the same time, sustainability remains our top priority as 
we aim to shrink the ecological footprint of our own business 
processes along the value chain. Since 2022, we have been 
actively working on our ambitious roadmap to decarbonize 
our own production activities as fully as possible.
Discontinuation of condition monitoring activities 
Alongside our growth projects, cost efficiency remains a 
key focus. We consistently pursued our optimization pro- 
gram and, among other measures, subjected all ongoing 
research and development projects to a critical review. On 
the basis of this assessment, we decided to discontinue 
our activities in the condition monitoring segment and 
close the Berlin site (formerly AiSight), as announced back 
in April. We explained this step in detail in the half-year 
update in August 2024. We remain committed to our stra­
tegic goal of building a data-driven service business along­
side our important OEM business. For now, Sensirion is 
focusing on the detection of environmentally harmful 
methane leaks in the oil and gas industry. Financially, the 
decision to discontinue the activities in Berlin has resulted 
in an extraordinary impairment of CHF 28.6 million at the 
EBITDA level and CHF 33.4 million at the net profit level. 
CHF 30.4 million of this consists of non-cash impairments, 
which includes CHF 25.6 million for goodwill recycling as 
required under Swiss GAAP FER and CHF 4.8 million due 
to the absence of tax loss carryforwards. The remaining 
amount of approximately CHF 3 million is made up of 
restructuring costs. All extraordinary expenses have been 
fully charged to the income statement for the first half 
of the year and adjusted for comparative purposes. The 
deconsolidation had no significant impact on revenue as 
the Berlin activities were still in the startup phase.
Securing our long-term presence in Stäfa
As part of our long-term capacity and growth planning, we 
managed to secure two key plots of land in Stäfa after a 
lengthy search, thereby also securing our long-term growth 
opportunities in Stäfa. This will allow us to continue to 
benefit from the proximity of R&D and operations, which is 
so important for innovation in the MEMS sector, as well as 
from the world-class talent pool of the Swiss education 
system. We acquired the first plot of land in January, 
directly adjacent to our headquarters, and are now plan­
ning to expand our cleanroom and production capacities 
there. The planning application for the new building was 
submitted in the fall. The second plot has been acquired 
from the municipality, although we have not been able to 
take possession of it yet due to some regulatory issues.

9
Letter to the Shareholders  Sensirion Annual Report 2024
Moritz Lechner
Co-Chairman of the Board
Felix Mayer
Co-Chairman of the Board
Marc von Waldkirch
CEO
Board and Executive Committee renewals
At the Annual General Meeting 2024, all proposals put 
forward by the Board of Directors were approved. All 
members of the Board of Directors who stood for re-election 
were confirmed for another term. The Annual General 
Meeting elected Henri Mrejen to the Board of Directors. He 
has replaced François Gabella, who was no longer availa- 
ble after serving on the board for five years. 
At the upcoming Annual General Meeting in May 2025, our 
long-serving board member and Chair of the Audit Commit­
tee, Ricarda Demarmels, will not be available for re-election 
for a further term. The Board of Directors proposes to the 
General Meeting that Mirjana Blume be elected. She has 
extensive experience as a CFO and CEO in various technol­
ogy sectors, and currently serves as a member of the Board 
of Directors and Chair of the Audit Committee for several 
companies.
There were also some changes to the Executive Committee, 
as already reported in the Interim Report: Andrea Orzati (VP 
Marketing & Sales) has decided to pursue a new challenge 
outside the company after 16 years with Sensirion, including 
11 years on the Executive Committee. He was succeeded on 
1 November by Simon Sonderfeld, whose most recent role 
was at Bosch Sensortec in Stuttgart. 
In addition, Matthias Gantner retired as CFO on 31 Decem­
ber 2024. He was succeeded on 1 January 2025 by Martin 
Wirz, who has been with Sensirion for over 11 years in various 
leadership roles.
We would like to express our heartfelt thanks to all depart­
ing members of the Board of Directors and Executive Com­
mittee for their outstanding contributions and dedication 
over the years. We wish them all the best in their future 
endeavors.
Outlook
We are optimistic about 2025 and expect further strong 
sales growth, mainly driven by the continued ramp-up of 
A2L sensors for the US HVAC market. We remain cautiously 
optimistic about our existing business due to the challeng­
ing macroeconomic and geopolitical situation and structural 
weakness in our key automotive markets. Uncertainties 
arise mainly from the exact course of the ongoing A2L 
ramp-up, the difficulty of predicting US trade policy and the 
economic development in China.
In terms of profitability, we expect to see a significant 
improvement over last year, driven by a combination of 
renewed sales growth and savings from the cost optimi-
zation program implemented last year.
Assuming unchanged exchange rates and a stable economy, 
we expect consolidated sales of CHF 310-350 million (FY 
2024: CHF 276.5 million) for the 2025 financial year. This 
represents projected organic growth of 12-27 % compared 
to 2024. We expect the EBITDA margin to be in the mid- 
to high teens, in-line with our medium-term target range. 
Based on our growth strategy and the supporting secular 
megatrends, we also confirm our medium-term targets as 
discussed at the Capital Market Day in November 2024.
Sincere thanks to all our employees and our shareholders
We made significant operational and strategic progress in 2024 
despite the challenging economic and geopolitical environ­
ment. None of this would have been possible without the tire- 
less efforts of our employees around the world. They deserve 
our sincere recognition and heartfelt thanks. Their loyalty, 
ambition and teamwork means that we are well positioned 
both operationally and strategically for the next growth cycle.
We also extend our heartfelt thanks to you, dear share-
holders, for the trust and loyalty you have continued to 
show us, even in these challenging times.

10
Sensirion Annual Report 2024  Markets
Automotive
In the automotive market, revenue amounted to CHF 80.6 million, which corresponds to an increase of 
11.3 % compared to 2023 and accounts 29.2 % of group revenue. 
Revenue development in CHF million
The continued growth was primarily driven by a large, newly started vehicle interior air quality (VIAQ) 
module projects within the Tier 1 business related to European OEM customers. In the remaining Tier 1 
business and the Tier 2 component business, most applications were stable, due to global economic 
headwinds.
In Sensirion’s established Tier 1 module business, sensor applications measure and support control of 
vehicle interior air quality (VIAQ) – covering CO2, relative humidity (RH), temperature (T), dew-point, 
particulate matter (PM2.5) – as well as anti-fogging and are independent of the drive mode (combus­
tion, battery electric vehicle (BEV)). These applications not only improve comfort and safety but also the 
energy efficiency of cars.
In the Tier 2 component business, demand was stable for mass air flow sensors and RH and T sensors, 
which are located in combustion engines’ air intake to improve precision control of the combustion 
process and optimize engine performance, partly declining due to the weak demand in the global 
car market.  
Reducing emissions, saving energy and increasing passenger safety and comfort are the main drivers 
behind Sensirion’s sensors being used in the automotive segment.  The passenger cabin climate can be 
controlled, and the windshield automatically defogged by incorporating humidity sensors, either directly 
on the windshield or in the dashboard, or by using a combination of those two options. Sensirion contin­
ually expands its environmental sensor portfolio that is the foundation for continuing our success as 
direct supplier and development partner to automotive OEMs. 
Success in the automotive market depends on meeting rigorous product reliability, process quality and 
customer proximity requirements. Accordingly, Sensirion’s automotive products meet the quality 
requirements set out by the Automotive Electronics Council (AEC-Q100), and Sensirion’s manufacturing 
sites in Switzerland, Hungary, China and South Korea are certified to the stringent international auto­
motive standard IATF 16949. 
Looking ahead, we are confident that the gradual transition to battery electric vehicles (BEVs), along 
with the shift toward smarter and more autonomous vehicles, will further drive the demand for sensors 
per car.
Markets
80.6
2023
2024
72.5

11
Markets  Sensirion Annual Report 2024
We believe that vehicle interior air quality (VIAQ) sensors – including CO₂, RH, T and PM2.5 sensors –
will become increasingly important and ultimately a standard feature, regardless of the vehicle’s 
powertrain.
Beyond these established applications, emerging automotive trends are creating new opportunities for 
sensor technologies. These include sensor-based battery leakage monitoring and sensor-based diag­
nostics for the growing adoption of heat pumps in vehicles. Additionally, ensuring water and humidity 
ingress protection in Advanced Driver Assistance Systems (ADAS) is critical for maintaining optimal 
performance and reliability under all conditions.
To address these evolving needs, we are actively engaged in collaborative projects with leading auto­
motive customers, working to develop next-generation sensor solutions.
Medical
In the medical market, revenue amounted to CHF 44.6 million (2023: CHF 44.9 million), declining −0.7 % 
year-on-year and contributing 16.1 % to group revenue.  
Revenue development in CHF million
After a sharp decline in the first half of 2024 to CHF 18.3 m (2023: CHF 31.7 m) due to inventory reduc­
tions across the continuous positive airway pressure (CPAP) market and a base effect from the first 
half of 2023, there was a significant recovery in demand in the second half of the year to CHF 26.2 m 
(2023: CHF 13.2 m), particularly in the CPAP area. The stock level optimization in the CPAP market 
appears to have normalized, showing the first signs of a recovery in demand that materialized some­
what earlier than expected. 
Towards the end of the year, the medical business also benefited from a short-term surge in demand 
from China in advance of the impending tariffs on Chinese medical products in the USA.  
In the medical market, Sensirion’s sensor solutions are used first and foremost in human respiratory 
applications. A ventilator or respirator is used for life support in emergency situations. In ventilators 
used in intensive care units (ICU) of hospitals and mobile ambulances, gas flow sensors and gas flow 
meters measure the flow into and out of the patient.  
Apart from ventilation, the other important medical applications include continuous positive airway 
pressure (CPAP) devices to treat sleep apnea and anesthesiology devices. In CPAP devices used in 
home care settings, gas flow and humidity sensors enable them to maintain the correct air flow into the 
patient and control humidification, thus helping the patient to sleep better and wake up feeling more 
rested in the morning.  
44.9
44.6
112.3
2023
2024

12
Sensirion Annual Report 2024  Markets
In anesthesiology, Sensirion’s mass flow meters play a mission-critical role to correctly dose the applied 
amount of the anesthetic agent.  
In the future, other applications centered around real-time monitoring of gases and liquids entering and 
exiting patients might emerge, in areas such as smart inhalers, drug delivery or monitoring devices. 
Sensirion sees promising growth opportunities in medical solutions, building on our expertise in flow 
and environmental sensors. Our sensors currently monitor airflow during patient respiration, and we 
aim to expand this to include measuring the composition of exhaled air to gain valuable insights into 
lung function, circulation, and metabolism. We are committed to partnering with OEMs to enhance 
resuscitation and respiratory monitoring that is crucial for patient care, making these processes more 
accurate and data-driven.
Industrial
In 2024, the diverse industrial market returned to its growth trajectory and revenues increased to 
CHF 137.3 million, which corresponds to a + 36.0 % increase compared to 2023 and accounts for 49.7 % 
of group revenue.   
Revenue development in CHF million
The increase was primarily driven by the appliance and HVAC (heating, ventilation, air conditioning) 
business. Both market segments showed high growth rates in 2021 and 2022, benefiting from the greatly 
increased sensitivity to indoor air quality solutions caused by the pandemic as well as from higher 
demand due to concerns about a shortage of chips. In 2023, this excess demand normalized and led to 
a temporary dip in demand due to de-stocking. The inventory corrections started to level off in the first 
half of 2024 and both segments returned to growth in the second half.
In the appliance market, application drivers are optimized energy consumption and increased comfort. 
Applications include incorporating humidity sensors in refrigerators to optimize energy consumption, 
using air quality sensors in air purifiers to improve detection of harmful gases, pollutants, high CO2 
levels and, finally, installing CO2 sensors in air conditioners for enhanced efficiency in room ventilation 
based on actual occupancy and related CO2 levels. In 2025 and in the coming years, sensor modules that 
are comprised of a combination of various sensor components such as humidity, TVOC (total volatile 
organic compounds), formaldehyde and PM2.5 are expected to be a major pillar for the home appliances 
market.
In the heating, ventilation and air-conditioning (HVAC) segment, sales showed strong growth, mainly 
driven by the launch of the A2L Sensor, a gas leakage sensor deployed in US air conditioning systems. 
2023
2024
137.3
101.0

13
Markets  Sensirion Annual Report 2024
The A2L sensor is a promising growth opportunity arising from a new US Environmental Protection 
Agency (EPA) regulation. From 1 January 2025, this will require a switch to a new refrigerant class 
(named A2L), which has a lower GWP (global warming potential) but a higher flammability risk. The 
regulation also stipulates that larger air conditioning systems in the US must be equipped with A2L 
leakage sensors in order to minimize the flammability risk. 2024 marked the beginning of the A2L 
sensor launch that delivered the first significant sales contribution. The roll-out of the AC devices with 
A2L sensors will continue across the US in 2025.  Sensirion as a supplier to OEMs can safeguard the 
associated risk and ensure safety and reliability across the life cycle of the product.
The smart gas meter market showed good growth driven by new customer projects. While the gas 
metering market is generally slow to adapt to new technologies, Sensirion has been able to prove the 
readiness and reliability of its technology for smart gas metering and will continue to support the 
market’s transition to smart gas metering with suitable products.
Consumer
In the consumer market, revenues slightly decreased to CHF 14.0 million, corresponding to a −5.7 % 
year-on-year decline and accounting for 5.1 % of group revenue.  
Revenue development in CHF million
The highly fragmented consumer market with numerous small players and a high share of distribution 
business saw strong growth during the pandemic, driven by increased awareness of indoor air quality 
as well as by higher demand due to concerns about a shortage of chips. This has led to overconsumption 
and up-stocking across the supply chain. Revenues in 2023 and 2024 have been impacted by both 
ongoing inventory corrections as well as weak end consumer demand following economic uncertainties. 
Sensirion’s environmental sensor portfolio, covering CO₂, RH, T, PM2.5/10 and formaldehyde sensors, 
supports the development of advanced air quality monitoring devices. In 2025, Sensirion will expand its 
portfolio with a newly miniaturized generation of environmental sensors for CO₂, particulate matter, and 
formaldehyde. These sensors will offer a more optimized form factor and improved cost efficiency, 
making them even more accessible for integration. Their enhanced features are expected to drive higher 
adoption rates, empowering customers to develop cost-effective, innovative air quality monitoring 
devices and applications that meet rising global demand.
The pandemic has illustrated the importance of indoor CO2 monitoring – for both well being and opti­
mized ventilation – and accelerated the development of global standards. Therefore, since 2023, 
Sensirion has ensured that our sensors are harmonized with RESET and WELL building standards. 
14.9
2023
2024
14.0

14
The goal of the WELL Standard is to enhance people’s health and well being in the built environment. 
It is an evidence-based rating system that ensures occupant’s health and well being by measuring, 
certifying, and monitoring the building features.
The RESET standard stands for “Regenerative, Ecological, Social & Economic Targets” and is a sensor- 
based, performance-driven data standard and certification system that requires the data to be sent to 
the cloud and the results to be communicated with the building users. More specifically, RESET Air is one 
of the modules of this standard that is currently available to the projects for certification. The RESET Air 
standard sets out the requirements for continuous monitoring of air quality of an interior space/building, 
including the deployment of monitors, collection of monitor data and reporting of results. The air quality 
monitors are required to measure parameters, such as particulate matter (PM2.5), CO2, TVOC, CO (in 
places where combustion exists), temperature and relative humidity.
Sensirion, empowers its customers by offering solutions that comply with RESET and WELL standards, 
contributing to the global initiative for heightened awareness and improvement of indoor air quality. In 
addition, we take a seat in the WELL Air Concept Advisory board (consisting of scholars and industry 
representatives) that provides guidance on how WELL can incorporate building interventions that 
promote high levels of air quality, thereby making sure that WELL takes into considerations the latest 
advances in sensor technologies to assess and control indoor air quality.
Finally, increasing urbanization is driving heavy traffic situations and global warming is promoting heat 
waves that increase the number of wildfires breaking out around the globe. Both trends are boosting 
demand for Sensirion’s proven environmental sensor portfolio.
 
 
Sensirion Annual Report 2024  Markets

15
Strategy  Sensirion Annual Report 2024
Strategy
Finally, our unique culture of innovation and entrepreneurship serves as the foundation for these 
objectives. This strategy aligns with key megatrends, including energy efficiency, environmental protec­
tion, health and an aging society, as well as safety and regulations.
Cultivating excellence: the essence of SensiSpirit
Our distinctive corporate culture, known as SensiSpirit, stems from the entrepreneurial and collaborative 
mindset embraced by our exceptional people and their shared drive to deliver top performance every 
day. To remain innovative, agile and ambitious, we strive to attract highly qualified talent across all fields. 
We want our award-winning company culture to continue evolving, as it enhances recruitment, improves 
employee retention, and fosters the ideal environment for long-term innovation.
Focus 1: Pioneering growth through innovation – miniaturized environmental and flow sensing 
solutions for market leadership
Our core market for environmental and flow sensing solutions spans all our end markets and remains 
central to our strategic growth objectives. Over the next medium-term cycle, we aim to further strengthen 
and expand our market position. In sectors where we already hold a dominant presence, we will con-
solidate our leadership through a combination of cost efficiency and technological advancements. 
Elsewhere, we seek to increase market share through continuous innovation and the introduction of next- 
generation products – while maintaining long-standing, trusted customer relationships and broadening 
our customer base.
We will leverage our unique technology value chain to miniaturize sensor principles, boosting production 
volumes across all segments to capitalize on economies of scale in both development and manufacturing.
Miniaturization will unlock new applications in environmental sensing, driving growth across all end 
Our recently revised growth strategy for the next medium-term 
cycle is anchored in our mission “We make a difference in sensing for 
a better world” and is based on three strategic focuses:  
Focus 1: Drive and expand our strong market position in our core markets 
of environmental and flow sensing
Focus 2: Go beyond our core to foster additional growth opportunities 
in adjacent market fields, such as e.g. leakage sensing, sensor solutions 
for medical breath analysis as well as advanced gas analytics solutions. 
Focus 3: Continue to focus on the development of pioneering tech-
nologies to lay the foundation for long-term growth.

16
SensiSpirit 
Unique culture of innovation 
and entrepreneurship
Sensirion Annual Report 2024  Strategy
Strategic 
focus
03
Lay the technological foundation for 
long-term growth
02
Go beyond our core to foster 
additional growth opportunities in
adjacent market fields
01
Drive and expand our strong 
market position in our 
core markets of environmental 
and flow sensing
markets while addressing evolving customer needs. These 
advancements will also lay the foundation for new modules 
and integrated solutions that holistically address specific 
application challenges – delivering enhanced value to our 
customers and making a decisive impact in line with our 
mission.
Looking ahead, we aim to further utilize our in-house tech­
nology value chain to develop sensors for additional gas 
parameters. Additionally, we will expand our portfolio of 
combination modules, integrating multiple environmental 
sensors to enable new applications and deliver greater cus­
tomer value.
01
02
03
Fundamentals
Focus 2: Going beyond Sensirion’s core to foster 
growth opportunities in adjacent applications and busi- 
ness areas
We aim to leverage our strong market position, customer 
relationships, and proven technology portfolio to expand 
beyond our core business, fostering growth opportunities 
in adjacent markets such as leak detection, medical breath 
analysis, and advanced gas analysis. In all these focus 
areas, we benefit from the convergence of secular mega­
trends driving new sensor applications, our expertise in 
environmental and flow sensing, and our broad customer 
base. In addition, our strategy includes complementing 
our hardware-centric OEM business with a service-oriented 
model based on sensors, sensor data and advanced 
algorithms.

17
Strategy  Sensirion Annual Report 2024
Expanding in leak detection
HVAC market
New environmental regulations for low-global-warming, yet flammable, refrigerants (A2L) in air condition­
ing (AC) applications have created a dedicated AC leak detection market. We aim to establish ourselves 
as the leading supplier in this space.
Automotive applications  
Beyond HVAC, leakage sensors will play a growing role in battery electric vehicles (BEVs), particularly 
for heat pumps and automotive battery monitoring systems.
Methane emissions in the oil and gas industry
Finally, there is increasing environmental regulation for the detection of methane leakage in the oil and 
gas industry. Sensirion’s Nubo Sphere solution enables real-time monitoring of methane emissions along 
the gas value chain, allowing customers to take timely corrective actions. This application is a key part 
of our strategy to build a service business centered on sensors and sensor data. 
Advancing medical breath analysis
Sensirion is a trusted and leading supplier to the medical market for flow solutions in ventilation, CPAP 
and anesthesia. Looking ahead, we aim to combine our flow technology with environmental sensor 
technologies, to analyze not only flow rate but also the composition of the exhaled breath. This will 
provide critical insights into the patient’s lung function, circulation and metabolism. 
Exhaled breath analysis is an emerging and non-invasive diagnostic approach with the potential to deliver 
valuable health insights.  
By combining our expertise in flow sensing and environmental gas analysis, we seek to drive innovation 
in this promising field and further expand our presence in the medical sector.
Focus 3: Propelling long-term growth through new technologies 
We will continue investing in fundamental technological innovation to achieve sustainable company 
growth by systematically exploring and assessing new sensor technologies, applications, and market 
opportunities. There are two primary avenues for ensuring long-term growth: firstly, to expand our 
product portfolio beyond flow and environmental sensing by mobilizing our core competencies across 
the entire value chain. Secondly, we will expand to offer high-end solutions in certain fields. To uncover 
new growth opportunities, we will closely monitor the entire sensor market, identify emerging trends 
and adapt to evolving customer demands.
Furthermore, we have implemented a systematic strategy for M&A activities to enhance our strategic 
growth areas. Leveraging our connections with the global and local startup community, we aim to 
identify cutting-edge sensor technologies and strategically acquire technologies, companies or manu­
facturing capacities that enhance and fortify our competitive standing. 

18
Sensirion Annual Report 2024  Key Figures
Future
inno
vations

We want to make the difference through new technology. Innovations 
that will improve the energy efficiency of devices, protect the climate and 
enhance health and safety applications.
If we want to achieve our goals, we need all our employees – the 
innovators behind the future solutions for new applications.  As a team, 
we provide top-quality services as we want to surpass even the very 
best of our competitors. Everyone applies their skills with the maximum 
impact and is supported by their environment. We want to work 
together to continually re-invent ourselves and be agile, hungry and 
ambitious. We uphold our company values of fairness and honesty, and 
actively embody them at a global level.
The innovators behind it all
We provided an overview of future innovations at the Capital Market 
Day in November 2024. On the following pages, we would like to present 
three applications in more detail and show the innovators behind them.
19
Innovations  Sensirion Annual Report 2024

20
Sensirion Annual Report 2024  Sustainability
The project team (from left), including Tong Wu (Market Manager, Manuel Becker (Senior Program Manager), 
Julien Cors (Product Manager) and Mareike Weiss, are at the forefront of autonomous driving. 

21
Innovations  Sensirion Annual Report 2024
Apart from the advantages for consumers, AD also repres- 
ents a lucrative opportunity for the automotive industry: 
McKinsey estimates the market for advanced driver assis­
tance systems (ADAS) and autonomous driving systems to 
be worth between USD 300 and 400 billion by 20351. Auto-
nomous driving will also have an impact on various other 
industries.
High demands on the automotive industry
However, fully autonomous driving brings many new chal­
lenges for technology. Who sees and senses what is hap­
pening around the car if these tasks are no longer performed 
by the driver or a human being in the future? The seam-
less integration of various sensor inputs will be essential. 
Multiple optical sensor technologies are required to enable 
autonomous driving beyond conditional driving automation. 
Typically, original equipment manufacturers (OEMs) use a 
combination of LiDAR and long-range radar and camera 
sensors to equip their vehicles with environment perception 
capabilities. Subsequent sensor fusion is typically executed 
using a central control unit (CCU) or an advanced driver 
assistance gateway. Furthermore, X-by-wire systems play 
a crucial role in steering and braking by replacing conven­
tional mechanical linkages with electronic controls, 
enabling more precise and responsive control over safety- 
critical vehicle functions.
Keeping ADAS safe: water ingress detection
The presence of humidity, through condensation or water 
ingress, presents significant challenges, impacting perfor­
mance and compromising safety by increasing the risk of 
corrosion inside the systems. 
This is where Sensirion’s SHT4xA humidity and tempera­
ture sensor comes into play. By using our sensors in AD 
systems, condensation and water ingress can be detected 
at an early stage, thus ensuring the reliability and safety of 
the electronic systems.
Making autonomous 
driving a reality – 
Detecting condensation 
and water ingress in 
safety-critical systems
Autonomous driving (AD) will revolutionize the automotive industry 
in the coming years. It will transform the consumer experience and make 
traveling safer and more enjoyable. Potential benefits include increased 
productivity during commutes and improved mobility for elderly drivers. 
In terms of safety, we can also expect a significant reduction in the 
number of accidents.
Future innovations Autonomous driving
1 	www.mckinsey.com

22
The transition to higher levels of autonomy requires stron­
ger secondary measures for fault diagnosis while also cre­
ating new opportunities, such as innovative B2B insurance 
models designed to address emerging risks. 
Sensirion at the forefront of functional safety 
in RHT sensing
Functional safety is crucial in ADAS to ensure reliable ope-
ration, detect and mitigate potential failures and minimize 
the risk of accidents, especially as liability shifts from 
human drivers to electronic systems. Central to functional 
safety is the Automotive Safety Integrity Level (ASIL) 
rating, which is a classification defined by ISO 26262 that 
measures the risk and safety requirements of automotive 
components. As the market leader for automotive relative 
humidity and temperature (RHT) sensing for more than 
20 years, Sensirion has been working with multiple key 
stakeholders from the beginning in the development of AD 
systems and their safety. This focus over the past several 
years has enabled Sensirion to bring the first ASIL-rated 
RHT sensor to the market. Unlike standard automotive 
components, ASIL-rated components need to follow strict 
“
design and development guidelines and require extensive 
risk assessments, fault tolerance and diagnostic mea­
sures as well as fully traceable development processes.
Fundamental changes to the product development 
process
To develop the first ASIL-rated RHT sensor (SHT41A-AWSB), 
Sensirion made fundamental changes to its product deve-
lopment process, led by the project team including Mareike 
Weiss, Julien Cors, Manuel Becker and Tong Wu. Part of 
the transformation was the creation of new roles, such as 
Head of Functional Safety in Production as well as a new 
structure (ASIL Council), composed of representatives 
from all company departments, that oversees functional 
safety-related processes. 
All members involved are now Certified Functional Safety 
Engineers and are experts in the strictly defined ASIL 
project management framework.
We are spearheading the next level of automotive RHT sensing. 
This was only possible because of our long-standing history 
of the highest quality and reliability standards and our constant 
drive towards being one step ahead of the competition.” 
Julien Cors, Product Manager 
“
Sensirion Annual Report 2024  Innovations
SHT4xA 
humidity sensor
Autonomous driving is no longer 
just a vision – we are working hand in 
hand with OEMs and Tier 1s to bring 
the future of mobility to life.”
Tong Wu, Market Manager Mobility

23
This poses a serious challenge for established original 
equipment manufacturers (OEMs) in the HVACR industry. 
Sensirion plays a key role in supporting manufacturers. As 
a leading company in gas sensor technology with over 20 
years of experience, we are very well established and ideally 
placed to meet the requirements.
New regulations in the US heating, ventilation, 
air conditioning and refrigeration market
The HVACR industry is in the midst of one of its biggest 
regulatory changes in decades with the transition to lower 
global warming potential refrigerants, which are often flam­
mable A2L refrigerants. As of January 1, 2025, only systems 
using the new refrigerants may be manufactured in the US 
and Canada. This change is forcing OEMs to build systems 
with different safety mechanisms. OEMs must ensure that 
leaks in appliances with significant refrigerant loads are 
detected and trigger a system response to minimize any 
safety risks. To avoid concentrations above the critical 
flammability limit, sensors are used to detect leaks quickly, 
effectively and reliably.
Strengthening proximity to the end customer with 
complete solutions
To detect refrigerant leaks, we develop complete sensor 
solutions that can be used directly by the OEMs. These 
modules consist of a sensing core component, which is 
based on the measurement principle of thermal conduc-
tivity, and other supporting electronic components – all 
housed together in a protective casing. The modules 
combine important properties such as durability, fast res- 
ponse time and robustness. They allow accurate and fast 
measurement even under the harshest environmental  con-
ditions while remaining a cost-efficient solution. More than 
10 million such A2L sensors will be installed in air condi- 
tioning systems and heat pumps every year.
Close customer 
contact thanks to module 
strategy – A2L sensors 
for refrigerant leakage 
detection
With our sensor solution for measuring A2L refrigerants, we are making 
a contribution to the safe transition to those that are more climate 
friendly. The heating, ventilation, air conditioning and refrigeration (HVACR) 
industry is currently experiencing one of its most significant regulatory 
changes in recent decades. As of January 1, 2025, most newly manufac- 
tured appliances in the US and Canada can only contain these new 
refrigerants.  
Future innovations Refrigerant leackage detection
Innovations  Sensirion Annual Report 2024

24
Sensirion Annual Report 2024  Innovations
We develop different product variants to accommodate 
diverse customer requirements. They are based on the 
same measuring cell but otherwise differ greatly. Each 
customer project has to meet different criteria and the 
modules therefore have varied form factors, connectors or 
cables, electrical interfaces as well as refrigerant type 
support with tailored alarm thresholds.
This module strategy allows us to be a direct supplier and 
thus create closer contact with the OEM. As a result, we 
understand the use case better, gain experience together 
and can thus define the mission profile and requirements 
more precisely. This vertical integration helps us to actively 
shape the market together with the customer and be at the 
forefront of new innovations.
Sensirion’s refrigerant leakage sensors officially 
recognized by UL Solutions
All our refrigerant leak detection sensors are recognized by 
either UL Solutions or Intertek according to UL 60335-2-40. 
These certifications are a crucial prerequisite for the regu­
lated use of our products and make them an indispensable 
component for residential and commercial systems. The 
certification helps HVACR application manufacturers to 
simplify product compliance and accelerate their time 
to market.
A2L as a great opportunity for Sensirion
Leakage sensors for the new A2L refrigerants are cur­
rently one of the biggest opportunities for Sensirion. We 
want to establish ourselves as the number one for A2L 
sensors to play a major role in this market in the future. 
We are continuously working with all the relevant key cus­
tomers in the market across all subsidiaries. As a result, 
many employees are currently actively working on various 
A2L projects worldwide in the departments of R&D, Opera­
tions, Quality and Sales.
Innovations thanks to top team performancee
The collaboration is based on an agile and dynamic mindset 
across all the departments involved. The team demon­
strates a continuous willingness to go the extra mile at a 
fast pace, enabling short development cycles of just a few 
weeks. Behind this achievement are employees who are 
motivated and ambitious, and together pursue one goal: 
to bring the project successfully to the market. This is 
innovation!
Sensirion provides employees the “playground” to realize 
such innovations. There is a mixture of required proce­
dures, boundaries and formalities combined with a certain 
degree of freedom in the way we work and the opportunity 
to take shortcuts – we call this the “Sensi-style”. It allows 
the team to make the difference together.
Sensirion offers a ‘playground’ 
for the development of innovations. 
With the entire team, we manage to 
make the difference for the HVACR 
industry.”
Andreas Lutz, Senior R&D Project Leader
Our module strategy fosters close collaboration with OEM 
manufacturers, allowing us to better understand their needs and 
drive market innovation and development.”
Alvaro Charlet, Product Manager
“
“

25
Corporate Governance  Sensirion Annual Report 2024
From left: Johannes Goedejohann (Product Manager), Andreas Lutz (Senior R&D Project Leader) 
and Alvaro Charlet (Product Manager), three representatives of the A2L project team

26
Sensirion Annual Report 2024  Innovations
Future innovations Smart resuscitation
Manual ventilation during cardiopulmonary resuscitation 
is very demanding 
Cardiopulmonary resuscitation (CPR) is an emergency pro­
cedure that is performed when a person’s heart has stopped 
beating and they are no longer breathing. CPR combines 
chest compressions and rescue breathing to manually pump 
blood and oxygen through the body. It is an important life- 
saving intervention that provides oxygen to the brain and 
heart until further medical help arrives.
Manual bag ventilation is very demanding. It is difficult to 
perform correctly in a hectic situation, even by medical pro­
fessionals. This is because, compared to medical ventila­
tors, conventional methods such as the manual ventilation 
bag lack feedback on the amount of airflow entering and 
exiting the patient as well as the pressure applied to 
the airway. This, too, often leads to complications such as 
hyperventilation, lung damage and barotrauma, and may 
result in the patient’s death. 
Smart resuscitation: improving patient survival 
through sensor-based feedback 
Without the feedback on flow and barometric pressure, 
it is almost impossible to improve ventilation. Another 
important parameter is the exhaled CO2 concentration, 
which can provide insight into the quality of the performed 
ventilation, the overall CPR maneuver, the position of the 
endotracheal tube (if intubated) and the timely recognition 
of the return of spontaneous circulation.
Sensirion has been working with a pioneering customer in 
this space for more than five years. Relying only on our 
flow sensing technology, they have been able to advance 
manual ventilation and develop the monitoring part of 
Significantly improve 
patient survival during 
resuscitation – Sensor 
modules for emergency 
ventilation feedback 
Death by cardiac arrest is a huge problem worldwide. Every year, 
around 6 million sudden cardiac deaths occur. This means that death from 
cardiac arrest claims more lives worldwide than colorectal cancer, 
breast cancer, prostate cancer, influenza, pneumonia, car accidents, HIV 
infections, firearm incidents and house fires combined. In the US, for 
example, more than 500,000 people suffer a sudden cardiac arrest every 
year. Less than 15 % of them survive.  

27
Future Innovations  Sensirion Annual Report 2024
From left: Andrew Hunter (R&D Engineer), Jakob Hees (Senior Market Manager)
and Pauline Simonet (Senior Product Manager): saving patients’ lives with combo modules

28
Sensirion Annual Report 2024  Innovations
so-called smart resuscitation devices. The customer uses 
our sensor today to measure flow-based feedback and 
recently received FDA certification for its device. In a 
study, they were able to show that their ventilation feed­
back device with our sensor improves the performance 
and quality of manual ventilation during cardiopulmonary 
resuscitation by over 70 % and reduces the risk of hyper­
ventilation by a factor of 10.
We are now working on integrating additional parameters 
such as pressure and CO2 into a combo module, in close 
dialogue with key players in the market. The interest in 
such an innovative sensor module is high, as several inter­
national guidelines for manual emergency ventilation 
recognize the need for ventilation feedback and the moni­
toring of additional parameters like CO2. The aim is to 
provide reliable feedback for manual ventilation, thereby 
improving the quality of emergency ventilation and ulti­
mately the survival rate of CPR.
Combo module with flow, pressure and CO2 sensors  
Sensirion has been a leading manufacturer of flow mea­
surements in medical technology for many years. However, 
the measurement of additional parameters is now crucial 
for our customers’ smart resuscitation devices. Thanks to 
Sensirion’s expertise in a broad range of sensing technol­
ogies, we are capable of developing a combined module 
that can measure flow, pressure and CO2, and will become 
the first of its kind worldwide.
The combo module is very compact, robust and fast. 
It comes fully calibrated and provides drift free and 
fast output. The module is therefore a ready-to-use solu­
tion in emergency situations, one that can be easily inte­
grated into smart resuscitation devices and used by 
healthcare professionals. It enables sensor-based feed­
back to assess the quality of manual ventilation and will 
provide insights that will improve resuscitation and save 
lives in the future.
Understanding customer needs and translating them 
into innovative high-tech solutions 
To make such innovations possible, it is essential to under­
stand the market-specific challenges and needs and then 
do everything we can to develop innovative solutions.
In the medical sector, we have excellent knowledge in 
the field of flow measurement and have established our-
selves as the number 1 supplier in the market over the last 
years. Now it’s time to go further – beyond flow. We want 
to expand our established flow sensor technology, combine 
our broad product portfolio with other parameters and be 
the first manufacturer to develop valuable combo modules 
for our customers.
Good cooperation across all internal departments, such 
as Sales, Product Management and R&D, results in these 
innovative high-tech solutions at Sensirion. Every single 
team member is motivated and keen to develop applica­
tions that save lives and have a positive impact on the 
further development of medical technology.
Combo module with flow, 
pressure and CO2
It is exciting for me to extend 
our established flow sensor 
technology in this project, combining 
different sensors in one module 
to enable intelligent resuscitation 
and contribute to saving lives.”
Jakob Hees, Senior Market Manager 
“

Future innovations
We make the 
difference in sensing for 
a better world.
This is our mission. This is what we stand for. 
This is what makes Sensirion precisely what we are all so proud of: 
a successful, growing company.
29
Innovations  Sensirion Annual Report 2024

Sensirion Annual Report 2024  Corporate Governance
30
This report on corporate governance describes Sensirion’s principles of management and control at the 
highest corporate level of Sensirion in accordance with the Directive on Information relating to Corporate 
Governance of SIX Exchange Regulation (DCG). Unless stated otherwise, the information in this report is 
provided as of 31 December 2024.
Sensirion’s corporate governance largely follows the guidelines and recommendations set out in the 
Swiss Code of Best Practice for Corporate Governance issued by economiesuisse in July 2002, as 
updated in 2007, 2014 and 2023 (the “Swiss Code”). Sensirion has made some adjustments and simplifi­
cations to suit its management and shareholder structure.
Sensirion’s principles and rules of corporate governance are set forth in its Articles of Association, its 
Organizational Regulations (including committee charters) and its Regulations on the Registration of 
Shareholders in the Share Register and the Maintenance of the Share Register (“Share Register Regula­
tions”), which are all available on our website (https://www.sensirion.com/company/investor-relations/
corporate-governance). The Nomination and Compensation Committee of the Board of Directors of 
Sensirion Holding AG regularly reviews Sensirion’s corporate governance framework and ensures 
compliance with corporate governance requirements.
Group structure and shareholders
Group structure
Sensirion Holding AG (or the “Company”) is a stock corporation organized under the laws of Switzerland 
which was incorporated on 7 October 1998 and is registered in the commercial register of the Canton 
of Zurich under the register number CHE-104.836.469 (LEI: 894500ANJ9YNE8YCTT04). Its registered 
address is at Laubisrütistrasse 50, 8172 Stäfa, Switzerland. The shares of Sensirion Holding AG have 
been listed on the SIX Swiss Exchange since the Company’s initial public offering (“IPO”) on 22 March 
2018 (ISIN CH0406705126, Swiss Security Number 40670512) according to the International Reporting 
Standard and since 1 July 2021 according to the Swiss Reporting Standard.
The Sensirion Group (“Sensirion” or the “Group”) consists of Sensirion Holding AG and its consolidated 
subsidiaries, which are listed in the Consolidated Financial Statements on page 144.
Sensirion operates as a single operating and reporting segment that encompasses the development, 
production, sale and servicing of sensor systems, modules and components. This structure is described 
in more detail in the segment information in the Consolidated Financial Statements on page 144. 
Corporate Governance

31
Corporate Governance  Sensirion Annual Report 2024
Significant shareholders
As of 31 December 2024, the following shareholders or group of shareholders have reported to Sensirion 
Holding AG holding 3 % or more of the voting rights in Sensirion Holding AG:
Shareholder
 % of voting rights
Moritz Lechner, Uerikon, Switzerland; Felix Mayer, Stäfa, Switzerland; Fondation 
des Fondateurs, Zurich, Switzerland; 7-Industries Holding B.V., Amsterdam, Netherlands;
EGS Beteiligungen AG, Zurich, Switzerland; Sensirion Holding AG , Stäfa, Switzerland1
32.3 % 
UBS Fund Management (Switzerland) AG2
5.8 %
Gottlieb Knoch, Zug, Switzerland
4.9 %
Dr. Thomas Knecht, Wollerau, Switzerland & Davent Holding AG, Zug, Switzerland3
3.5 %
1	 The beneficial owner of 7-Industries Holding B.V. is Mrs. Ruthi Wertheimer, Herzliya, Israel. The beneficial owner of EGS 
Beteiligungen AG, Zürich, Switzerland, is the Ernst Göhner Stiftung, Zug, Switzerland. The shareholders act in concert 
within the meaning of Article 121 FMIA by virtue of a shareholders’ agreement as a result of which they, together with the 
Company, act in concert. Moritz Lechner, Felix Mayer, Fondation des Fondateurs, 7-Industries Holding B.V. and EGS 
Beteiligungen AG together hold 32.3 % (31 December 2023: 32.0 %) of the voting rights. 
2 	Not or only partially registered in the share register
3 	The beneficial owner of Davent Holding AG is Dr. Thomas Knecht, Wollerau, Switzerland
Moritz Lechner, Felix Mayer (together the “Founders”), Fondation des Fondateurs, 7-Industries Holding 
B.V. and EGS Beteiligungen AG (together the “Anchor Shareholders”) have entered into a shareholders’ 
agreement to govern their rights and obligations as shareholders and/or members of the Board of 
Directors of Sensirion Holding AG. According to the shareholders’ agreement, the Anchor Shareholders 
can propose a majority of the candidates nominated for election to the Board of Directors and one of 
these candidates as Chairman (or two as Co-Chairmen) of the Board of Directors. In addition, each 
Founder has the right to be (re-)elected by the Anchor Shareholders as member and as Co-Chairman of 
the Board of Directors. Further, the Anchor Shareholders have also entered into voting undertakings 
with regard to shareholder resolutions requiring a qualified majority. With respect to the disposal of 
shares, the Anchor Shareholders have granted each other (and, failing them, Sensirion Holding AG) a 
right of first refusal and a right of first offer. 
Finally, the Anchor Shareholders have undertaken that they will only sell all their shares (as long as they 
hold more than 25 % but less than 33 1⁄3 % of the Company’s voting rights) or shares corresponding to 
33 1⁄3 % or more of the Company’s voting rights to a third party if such third party agrees to launch a 
public tender offer for all publicly held shares of Sensirion Holding AG for a consideration not lower than 
the consideration promised to the selling Anchor Shareholders.
The announcements related to the disclosure notifications made by shareholders during 2024 can be 
found via the search facility on the platform of the Disclosure Office of the SIX Swiss Exchange: 
https://www.ser-ag.com/en/resources/notifications-market-participants/significant-shareholders.html#/. 
For the purposes of this section, percentages are based on the issued share capital of Sensirion Holding 
AG recorded in the commercial register as of 31 December 2024.
Cross shareholdings
The Group has no cross-shareholdings that exceed 5 % of the holdings of capital or voting rights on both 
sides.

32
Sensirion Annual Report 2024  Corporate Governance
Capital structure
Capital
As of 31 December 2024, the share capital of Sensirion Holding AG amounts to CHF 1,561,572.30 divided 
into 15,615,723 fully paid-in registered shares with a par value of CHF 0.10 each. In addition, Sensirion 
Holding AG has a capital range in the amount of CHF ±156,157.20 (corresponding to ±10 % of the share 
capital). Further, Sensirion Holding AG has conditional share capital for employee participations in the 
amount of CHF 138,924.70 (corresponding to 8.9 % of the share capital) and conditional share capital for 
financing, acquisitions and other purposes in the amount of CHF 145,581.70 (corresponding to 9.3 % of the 
share capital). The following table summarizes the capital structure of Sensirion Holding AG.
Share capital
As per 31 December 2024
% of capital
Shares
In CHF
Share capital
100.0 %
15,615,723
1,561,572.30
Capital range1 (lower limit)2
 (upper limit)3
−10 % 
+10 % 
−1,561,572
+1,561,572
−156,157.20
+156,157.20 
Conditional share capital
Reserved for employee participation plans
8.9 %
1,389,247
138,924.70
Reserved for financing, acquisitions and other purposes
9.3 %
1,455,817
145,581.70
1 Expiring on 15 May 2028
2 The lower limit of the capital range amounts to CHF 1,405,415.10 or 14,054,151 shares. 
3 The upper limit of the capital range amounts to CHF 1,717,729.50 or 17,177,295 shares. 
Capital range 
As of 31 December 2024, the Articles of Association provide for a capital range ranging from CHF 
1,405,415.10 (lower limit) to CHF 1,717,729.50 (upper limit) (see Article 3a of the Articles of Association). 
Based thereon, the Board of Directors is authorized within the capital range to increase or reduce the 
share capital once or several times and in any amounts or to acquire or dispose of shares directly or 
indirectly until 15 May 2028 or until an earlier expiry of the capital range. The capital increase or reduction 
may be effected by issuing up to 1,561,572 fully paid in registered shares with a par value of CHF 0.10 each 
and cancelling up to 1,561,572 registered shares with a par value of CHF 0.10 each, as applicable, or by 
increasing or reducing the par value of the existing shares within the limits of the capital range. In the 
event of an issue of shares, the subscription and acquisition of the new shares as well as any subsequent 
transfer of the shares shall be subject to the restrictions set out in the Articles of Association (see 
“Limitations on Transferability and Nominee Registrations”). In the event of a capital increase within the 
capital range, the Board of Directors determines, to the extent necessary, the issue price, the type of 
contribution (including cash contributions, contributions in kind, set-off and conversion of reserves or of 
profit carried forward into share capital), the date of issue, the conditions for the exercise of pre-emptive 
rights and the beginning date for dividend entitlement. It may issue new shares by means of a firm under­
writing with a subsequent offer to the existing shareholders or, if pre-emptive rights have been withdrawn 
or not duly exercised, to third parties. The Board of Directors may permit, restrict or exclude the trade 
with pre-emptive rights. It may permit the expiry of unexercised pre-emptive rights, or it may place such 
rights or the respective shares at market conditions or may use them otherwise in the interest of Sen­
sirion Holding AG. Further, the Board of Directors is authorized to withdraw or restrict pre-emptive rights 
of existing shareholders and allocate such rights to third parties or any Group companies for the acquisi­
tion of companies, part(s) of companies or participations, for the acquisition of products, intellectual 

33
Corporate Governance  Sensirion Annual Report 2024
property or licenses by or for investment projects of the Group, or for the financing or refinancing of any 
of such transactions through a placement of shares. In the event of a reduction of the share capital within 
the capital range, the Board of Directors determines, to the extent necessary, the use of the reduction 
amount.
Conditional capital
As of 31 December 2024, the Articles of Association provide for two categories of conditional capital. 
First, the share capital of Sensirion Holding AG may be increased by an amount not to exceed CHF 
138,924.70 by issuing up to 1,389,247 fully paid-in registered shares with a par value of CHF 0.10 per 
share through the direct or indirect issuance of shares, options or related subscription rights to members 
of the Board of Directors, members of the Executive Committee or employees of the Group (see Article 
3b of the Articles of Association). The pre-emptive rights and advance subscription rights of existing 
shareholders are excluded. Shares, options or related subscription rights are issued pursuant to regula­
tions issued by the Board of Directors and taking into account the compensation principles pursuant to 
the Articles of Association. Shares or subscription rights may be issued to employees at a price lower 
than the respective market price quoted on the stock exchange. Second, the share capital may be 
increased by an amount not to exceed CHF 145,581.70 by issuing up to 1,455,817 fully paid-in registered 
shares with a par value of CHF 0.10 per share through the exercise or mandatory exercise of conversion, 
exchange, option, warrant or similar rights for the subscription of shares granted to shareholders or 
third parties alone or in connection with bonds, notes, options, warrants or other securities or contrac­
tual obligations of Sensirion Holding AG or a Group company (see Article 3c of the Articles of Associa­
tion). The pre-emptive rights of existing shareholders are excluded upon the exercise of any such finan­
cial instruments in connection with the issuance of shares. The then-current owners of such financial 
instruments are entitled to acquire the new shares issued upon exercise. The Board of Directors is 
authorized to restrict or withdraw advance subscription rights of existing shareholders in connection 
with the issuance of financial instruments if the issuance is for purposes of financing or refinancing the 
acquisition of companies, parts of a company, participations or investments. If the advance subscription 
rights are not granted, the financial instruments must be issued at market conditions, the exercise price 
must be set with reference to the prevailing market conditions and the maximum exercise period is 
10 years.
 
The subscription and acquisition of the new shares under any conditional capital as well as any sub- 
sequent transfer of the shares is subject to the restrictions set out in the Articles of Association (see 
“Limitations on Transferability and Nominee Registrations”).
 
Changes in capital
There were no changes in the share capital of Sensirion Holding AG in the financial year 2024. For 
information on changes of the share capital during 2023 and 2022, see our Annual Report 2023 on
page 89 and our Annual Report 2022 on page 87, respectively.
Shares and participation certificates
All shares of Sensirion Holding AG are registered shares (Namenaktien) with a par value of CHF 0.10 
each and are fully paid-in and non-assessable. All shares rank pari passu in all respects with each other, 
including in respect of entitlements to dividends, to a share in the liquidation proceeds in the case of 
a liquidation and to pre-emptive rights. Each share carries one vote at the general meeting of share-
holders of Sensirion Holding AG, provided that shareholders and their shares are registered with voting 
rights in the share register of Sensirion Holding AG. The shares have been issued as uncertificated 

34
Sensirion Annual Report 2024  Corporate Governance
securities (Wertrechte) within the meaning of Article 973c of the Swiss Code of Obligations (“CO”), are 
registered in the main register (Hauptregister) maintained by SIX SIS Ltd. and constitute intermediated 
securities (Bucheffekten) within the meaning of the Swiss Federal Act on Intermediated Securities.
As of 31 December 2024, Sensirion Holding AG has not issued any participation certificates.
Profit sharing certificates
As of 31 December 2024, Sensirion Holding AG has not issued any profit sharing certificates (Genussscheine).
Limitations on transferability and nominee registrations
Persons acquiring shares will be registered in the share register as shareholders with voting rights upon 
their request if they expressly declare that they have acquired these shares in their own name and for 
their own account, that there is no agreement on the redemption of the relevant shares and that they 
bear the economic risk associated with the shares. The Board of Directors may refuse the registration 
of an acquirer in the share register as a shareholder with voting rights if such acquirer would, directly or 
indirectly, acquire, or hold in the aggregate, more than 5 % of the shares of Sensirion Holding AG 
recorded in the commercial register (the “Percentage Limit”; see Article 5 of the Articles of Association). 
According to Article 5 para. 7 of the Articles of Association, a group clause applies to determine whether 
the Percentage Limit is crossed. Even if the Percentage Limit is exceeded, the Board of Directors may grant 
an exception and enter a shareholder with voting rights in the share register (i) if such shareholder held 
or was allotted more than 5 % of the shares recorded in the commercial register before completion of the 
IPO, (ii) if such incumbent shareholder (or their legal successor, respectively) acquires additional shares 
after the IPO, provided that the opting-up threshold of 40 % of voting rights is not exceeded or (iii) if a 
person acquires such shares recorded with voting rights from such an incumbent shareholder off-market.
Details on the implementation of such exceptions are set out in the Share Register Regulations, in par­
ticular, the rule that no shareholder or group of shareholders will be registered in the share register with 
more than 40 % of the Company’s voting rights. The decision on the granting of exceptions to the Per­
centage Limit lies with the Board of Directors who may, with the approval of all members of the Board 
of Directors, in its own discretion grant further exceptions.
In the financial year 2024, the Board of Directors granted no exceptions from the Percentage Limit pur­
suant to Article 5 para. 3 of the Articles of Association.
Further, any person that does not expressly make the declarations set forth above in its application for 
registration (a “Nominee”) may be entered in the share register as a shareholder with voting rights 
regarding up to 5 % of the share capital recorded in the commercial register, provided that the Nominee 
has entered into an agreement with the Company regarding its position and is subject to a recognized 
bank or financial market supervision. Beyond such registration limit, the Board of Directors may register 
Nominees as shareholders with voting rights in the share register if such Nominees undertake to dis­
close the full name, address, citizenship and shareholdings of those persons for whose account the 
Nominee holds 0.5 % or more of the share capital recorded in the commercial register. The group clause 
pursuant to Article 5 para. 7 of the Articles of Association also applies to Nominees.
A resolution passed at a general meeting of shareholders with a qualified majority of at least two-thirds of 
the votes represented and the majority of the par value of shares represented at such meeting is required 
for the restriction on the transferability of shares or the cancellation of such a restriction, and for the amend- 
ment or cancellation of Article 5 of the Articles of Association regarding the share register and restrictions 
on the registration of shareholders and nominees (see Article 13 para. 2 of the Articles of Association).

35
Corporate Governance  Sensirion Annual Report 2024
Convertible bonds and options
Except for Sensirion’s employee participation plans, neither Sensirion Holding AG nor any of its Group 
companies has any convertible bonds or options on the equity securities of Sensirion Holding AG out- 
standing as of 31 December 2024. For information on Sensirion’s employee participation plans, see the 
Compensation Report on pages 56 to 72 as well as Note 6.2 of the Consolidated Financial Statements on 
pages 144 to 188.
Board of Directors
The duties and responsibilities of the Board of Directors of Sensirion Holding AG are defined by the
Swiss Code of Obligations, the Articles of Association and the Organizational Regulations.
Members of the Board of Directors
The Board of Directors consists of at least three and no more than seven members (see Article 14 of the 
Articles of Association). As of 31 December 2024, the Board of Directors consisted of six members. All 
members of the Board of Directors are non-executive directors. None of the members of the Board of 
Directors held an executive position with Sensirion during the last three financial years preceding the 
financial year 2024. Other than as set forth below, none of the members of the Board of Directors has any 
significant business connections with the Group.
The following table sets forth the name, function and committee membership of each member of the 
Board of Directors as of 31 December 2024.
Name
Function
Committee membership
First elected
Elected until AGM
Dr. Moritz Lechner  1
Co-Chairman
Member of the Nomination and 
Compensation Committee
1998
(formation)
2024
Dr. Felix Mayer  1
Co-Chairman
Chairman of the Nomination and 
Compensation Committee
1998
(formation)
2024
Ricarda Demarmels 2 Member
Chairwoman of the Audit Committee
Chairwoman of the Independent 
Directors’ Committee and 
Lead Independent Director
2018
2024
Henri Merjen2
Member
Member of the Audit Committee
2024
2025
Dr. Anja König 2
Member
Member of the Nomination 
and Compensation Committee
Member of the Independent 
Directors’ Committee
2021
2024
Dr. Franz Studer 2
Member
Member of the Audit Committee
2019
2024
1	 Dr. Moritz Lechner acts for Sensirion AG, on a 50 % basis, where he is responsible for sensor innovation and strategic 
tasks. Dr. Felix Mayer acted jointly with Dr. Moritz Lechner for Sensirion AG, on a 50 % basis until 30 August 2024, where 
he was responsible for sensor innovation and strategic tasks. 
	 As of 1 September 2024, Felix Mayer has stopped his responsibilities in the area of strategic advisory and sensor 
innovation and will focus on his role as Co-Chairman and Chairman of the Nomination and Compensation Committee (NCC). 
Moritz Lechner will continue to assume responsibility for strategic advisory and sensor innovation.
2	 Independent in the sense of the Swiss Code.

36
Sensirion Annual Report 2024  Corporate Governance
Board of Directors
Felix Mayer, Co-Chairman
Moritz Lechner, Co-Chairman
Ricarda Demarmels, Non-Executive Director

37
Corporate Governance  Sensirion Annual Report 2024
Anja König, Non-Executive Director
Franz Studer, Non-Executive Director
Henri Mrejen, Non-Executive Director

38
Sensirion Annual Report 2024  Corporate Governance
Dr. Moritz Lechner 1 Co-Chairman, Swiss national, born in 1969
Moritz Lechner is one of the two founders and Co-Chairman of the Board of Directors of Sensirion Holding AG 
and a member of the Nomination and Compensation Committee. He has been a member of the Board of 
Directors, acting as Chairman or Vice-Chairman, since the incorporation of Sensirion in 1998. Until June 2016, 
he served as Co-CEO of the Company together with Felix Mayer. Moritz Lechner has received numerous entre­
preneurial awards. Currently, he serves on the Board of Directors of Dectris AG and of Lumiphase AG. He 
worked in the fields of microelectronics and detector technology research at the Swiss Federal Institute of 
Technology (ETH Zurich) and the Paul Scherrer Institute, and studied Physics at ETH Zurich, from which he 
also received his PhD in Microelectronics and Detector Technology. 
Dr. Felix Mayer 2 Co-Chairman, Swiss national, born in 1965
Felix Mayer is one of the two founders and Co-Chairman of the Board of Directors of Sensirion Holding AG and 
Chairman of the Nomination and Compensation Committee. He has been a member of the Board of Directors, 
acting as Chairman or Vice-Chairman, since the incorporation of Sensirion in 1998. Until June 2016, he served as 
Co-CEO of the Company together with Moritz Lechner. Felix Mayer worked at Siemens for five years and con­
ducted research in the area of microtechnology at the Swiss Federal Institute of Technology (ETH Zurich) for 
four years. He is a recipient of numerous entrepreneurial awards. Currently, Felix Mayer serves on the Board of 
Directors of Nextlens Switzerland AG, Optotune Holding AG and Luma Beef AG. He studied Physics at ETH 
Zurich, from which he also received his PhD in Physics.
Ricarda Demarmels 3 Non-Executive Director, Swiss national, born in 1979
Ricarda Demarmels has been a non-executive member of the Board of Directors of Sensirion Holding AG since 
2018. She serves as Chairwoman of the Audit Committee and the Independent Directors’ Committee and as 
Lead Independent Director. On 1 January 2023, Ricarda was appointed as CEO of the Emmi Group where she 
has served as Group CFO and a member of the Group Management since June 2019. Between 2015 and 2018, 
Ricarda Demarmels served as Group CFO and member of the Management Board at Orior AG. From 2009 until 
2014, she worked for Capvis Equity Partners AG, where she was in charge of various acquisitions and divesti­
tures and supported the strategic development of portfolio companies. From 2005 to 2009, Ricarda Demar­
mels led various strategy, M&A and integration projects for Oliver Wyman, a global management consulting 
firm. Currently, Ricarda Demarmels serves on the Board of Directors of the Swiss-American Chamber of Com­
merce and is member of the HSG Advisory Board. She studied Finance and Accounting at the University of St. 
Gallen and holds a Master’s degree in Business Administration from the University of St. Gallen (lic.oec. HSG).
Henri Mrejen 4 Non-Executive Director, French national, born in 1969
Henri Mrejen has been spearheading the business development efforts for 7-Industries group, Sensirion’s 
anchor shareholder, since 2007. Prior to that, he was the head of Supply Chain at Adama Agricultural 
Solutions from 2002 to 2007. He was also a strategy consultant for LEK and the Monitor Group for eight years. 
Board of Directors

39
Corporate Governance  Sensirion Annual Report 2024
He started his career as environmental engineer at Woodward Clyde in the USA. Henri Mrejen has also been 
the Chairman of Supervisory Board of Tecinvest Holding AG, the global leader for laser beam deflection 
systems, based in Munich since 2023 and a member of the Supervisory Board of Tecinvest Holding AG since 
2014. He also has served as Member of the Board of Directors of Servotronix Motion Control Ltd from 2011 to 
2017. Henri Mrejen holds a master’s degree in Engineering from Centrale Supélec in Paris.
Dr. Anja König 5 Non-Executive Director, Swiss national, born in 1970
Anja König has been a non-executive member of the Board of Directors of Sensirion Holding AG since 2021. She 
serves as a member of the Nomination and Compensation Committee and Independent Directors’ Committee. 
Since 2017, Anja König has been Global Head of the Novartis Venture Fund (NVF) in Basel, Switzerland. Prior 
to that, she held the position of Managing Director at NVF for 10 years. In the context of her work at NVF, she 
has served on more than fifteen private biotech and foundation boards in the US, Europe and Asia. From 2000 
to 2006, Anja König was an Associate Partner at McKinsey & Company in New York. She is currently also 
serving on the board of Mediar Therapeutics, a biotech company in the US. Anja König holds a Master’s degree 
(Diploma) in Physics from Ludwig-Maximilians-Universität in Munich and a PhD in Theoretical Physics from 
Cornell University.
Dr. Franz Studer ⁶ Non-Executive Director, Swiss national, born in 1965
Franz Studer has been a non-executive member of the Board of Directors of Sensirion Holding AG since 2019. 
He serves as member of the Audit Committee. Since 2012, he has served as Investment Director and Member 
of the Executive Committee of EGS Beteiligungen AG, and as Managing Director since 2024. In 2010 and 2011, 
he was CEO/COO of aizo group. Prior to that, for more than ten years, Franz Studer held various management 
positions at Bühler AG, including Commercial Director, Vice President, Engineered Products. From 1994 until 
1999, he served as attorney at a law firm in Zurich. Currently, he serves on the Board of Directors of Roth 
Gerüste AG, FAES Finanz AG, Kantonsspital Winterthur (Chairman of the Board), HUBER + SUHNER AG, DV 
Bern AG and Serto AG. Franz Studer received both a Master’s and PhD degree from the Faculty of Law, Univer­
sity of Zurich, bar admission from the Canton of Zurich, and an Executive MBA from the University of St. Gallen.
1 In 2023, Moritz Lechner served on the Board of Directors of Dectris AG.
2 In 2023, Felix Mayer served on the Board of Directors of Lumiphase AG, Nextlens Switzerland AG, Optotune Holding AG 
and Luma Beef AG.
3 In 2023, Ricarda Demarmels did not serve in any additional Board roles.
4 In 2023, Henri Mrejen served on the Board of Directors of Tecinvest Holding AG
5 In 2023, Anja König served on the Board of Directors of Mediar Therapeutics.
6 In 2023, Franz Studer served on the Board of Directors of Roth Gerüste AG, FAES Finanz AG, Kantonsspital Winterthur, 
HUBER + SUHNER AG and of DV Bern AG.

40
Sensirion Annual Report 2024  Corporate Governance
Changes in the composition of the Board of Directors
At the Annual General Meeting on 13 May 2024, François Gabella did not stand for re-election. All other 
members of the Board of Directors were re-elected for another term of office until completion of the 
next Annual General Meeting in 2025. In addition, Henri Mrejen, Head of Investments at 7-Industries, 
was elected as a new member of the Board of Directors until the upcoming Annual General Meeting on 
12 May 2025.
Ricarda Demarmels will not stand for re-election for another term of office and the Board of Directors will 
propose the election of Mirjana Blume, Founder and Managing Director at SML Solutions AG, as new 
member of the Board of Directors at the upcoming Annual General Meeting on 12 May 2025. Subject to 
election, Mirjana Blume will be appointed as chairperson of the Audit Committee and become a member
of the Independent Directors’ Committee. Anja König will serve as chairperson of the Independent
Directors’ Committee and as Lead Independent Director.
Other functions and activities
Pursuant to Article 29 of the Articles of Association, no member of the Board of Directors may hold 
more than ten mandates in comparable functions at enterprises with an economic purpose other than 
Sensirion Holding AG or its subsidiaries, of which not more than four (4) may be in listed companies.
Elections and terms of office
The members of the Board of Directors and the Chairman (or the two Co-Chairmen) of the Board of Direc­
tors are elected individually by the general meeting of shareholders for a term of office until completion 
of the next Annual General Meeting. Re-election is permitted. If the office of both Co-Chairmen is vacant, 
the Board of Directors has to appoint a new Chairman from among its members for a term of office until 
completion of the next Annual General Meeting. The Organizational Regulations of Sensirion Holding AG 
provide that the Board of Directors shall not propose any candidate for election to the Board of Directors 
who is aged 70 years or above. On an exceptional basis, the Board of Directors may propose candidates 
aged up to 75 years.
Internal organization
The Board of Directors may appoint one or several vice-chairmen from among its members. The Board 
also has to appoint a secretary, who need not be a member of the Board of Directors. According to the 
Articles of Association and the Organizational Regulations, the Board of Directors meets at the invitation 
of the competent Co-Chairman as often as required and at least four times a year, or whenever a member 
of the Board of Directors so requests in writing or electronically. In 2024, the Board of Directors held 
twelve meetings, seven of which were telephone conferences. The meetings lasted on average approxi­
mately eight hours each and the telephone conferences approximately one hour. All on-site meetings 
were attended by all members of the Board of Directors, Ricarda Demarmels was excused from the 
December Meeting. The CEO and CFO regularly participate in meetings of the Board of Directors in an 
advisory capacity. Other members of the Executive Committee are invited.
According to Article 3.6 of the Organizational Regulations and subject to certain exceptions, the Board of 
Directors is quorate when the majority of its members (including at least one Co-Chairman) is present. 
Generally, the Board of Directors may adopt a resolution by the majority of the votes cast. In case of a tie, 
the Co-Chairman who chairs the meetings of the Board of Directors has the casting vote. However,
according to the Organizational Regulations, (i) decisions regarding the registration or non-registration of 
acquirers of shares as shareholders with voting rights in deviation from the regulations governing such 
registrations and (ii) amendments to the Organizational Regulations that are not of a merely formal nature 

41
Corporate Governance  Sensirion Annual Report 2024
or made to conform to statutory requirements require the consent of all members of the Board of Direc­
tors. Resolutions of the Board of Directors may also be passed by way of written consent or electroni­
cally, provided that no member of the Board of Directors requests oral deliberations.
Powers and duties
The Board of Directors is responsible for the ultimate direction of the Company and the Group’s business 
and the supervision of the persons entrusted with the management of Sensirion. The Board of Directors 
represents Sensirion Holding AG vis-à-vis third parties and manages all matters that have not been dele­
gated to another corporate body by law, the Articles of Association, the Organizational Regulations or 
other internal regulations.
Pursuant to Article 19 of the Articles of Association, the non-transferable and inalienable duties of the 
Board of Directors include:
•	 the ultimate management of the Company and the issuance of necessary instructions;
•	 the determination of the organization of the Company;
•	 the structuring of the accounting system, the financial controls and the financial planning;
•	 the appointment and dismissal of the persons entrusted with management and representation of the 
Company and issuance of rules on the signature authority;
•	 the ultimate supervision of the persons entrusted with management, in particular in view of 
­compliance with the law, the Articles of Association, regulations and directives;
•	 the preparation of the Annual Report, the Compensation Report, the report on non-financial matters 
pursuant to Article 964c CO and other reports as required by law, if any;
•	 the preparation of the general meeting of shareholders and the implementation of its resolutions;
•	 the adoption of resolutions on the increase of the share capital to the extent that such power is 
vested in the Board of Directors, the confirmation of capital increases, the preparation of the report 
on the capital increase and the respective amendments to the Articles of Association (including 
deletions);
•	 the non-transferable and inalienable duties and powers of the Board of Directors pursuant to the 
Swiss Merger Act;
•	 the submission of a petition for debt-restructuring moratorium and notification of the court if 	
	
	
liabilities exceed assets; and 
•	 other powers and duties reserved to the Board of Directors by law or the Articles of Association.
In addition, Article 3.3 of the Organizational Regulations reserves the powers of the Board of Directors 
(i) to approve the annual investment and operating budgets of the Company and the Group, (ii) to 
approve certain major transactions, including the purchase and sale of real estate, the raising of finan­
cial indebtedness outside of the ordinary course of business, the granting of unsecured loans and 
guarantees exceeding CHF 2 million, and any unbudgeted non-recurring investment exceeding CHF 2 
million and any recurring expenses exceeding CHF 500,000 per year, (iii) to adopt or amend the Com­
pany’s compensation and benefits strategy and the basic elements of the compensation system for the 
members of the Board of Directors and of the Executive Committee, (iv) to adopt or amend any partici- 
pation or incentive plans for the members of the Board of Directors, the Executive Committee, or other 
employees, (v) subject to shareholder approval of the maximum aggregate compensation, to approve 
the compensation of each member of the Board of Directors and the Executive Committee, (vi) to estab­
lish the Company’s dividend policy and to approve share buy-back programs, and (vii) to exercise 
shareholder rights in other Group companies and to supervise their business operations. Further, the 
Nomination and Compensation Committee proposes the individual fixed and variable compensation of 
the members of the Executive Committee to the Board of Directors for approval.

42
Sensirion Annual Report 2024  Corporate Governance
In accordance with and subject to Swiss law, the Articles of Association and the Organizational Regula­
tions, the Board of Directors has delegated the Company’s management to the Executive Committee 
under the direction of the CEO.
The Co-Chairmen
According to Article 4 of the Organizational Regulations, each Co-Chairman may exercise all powers of a 
Chairman externally and may represent the Company like a Chairman using the title of Co-Chairman. One 
Co-Chairman is to chair the meetings of the Board of Directors (as of 31 December 2024 Moritz Lechner), 
and the other Co-Chairman is to chair the annual general meeting of shareholders (as of 31 December 
2024 Felix Mayer). The Co-Chairman who is to chair the meetings of the Board of Directors has the 
casting vote at meetings of the Board of Directors. Further, the Board of Directors has delegated the 
preparation and implementation of its resolutions as well as the supervision of particular matters to the 
Co-Chairmen. Should a Co-Chairman be unable to exercise his functions, his functions are assumed by 
the other Co-Chairman or, if the latter should also be unavailable, by another member of the Board of 
Directors appointed by the Board of Directors.
Board Committees
The Board of Directors has established three standing board committees: an audit committee (the 
“Audit Committee”), a nomination and compensation committee (the “Nomination and Compensation 
Committee”), and an independent directors’ committee (the “Independent Directors’ Committee”). 
According to the Organizational Regulations, each standing board committee has the power to procure 
any information and assistance from within the Company and the Group that it needs to discharge its 
responsibilities and is authorized to obtain subject-specific professional consultancy services from 
third parties at the expense of the Company. The chairperson of a board committee reports to the 
Board of Directors on the committee’s activities. The minutes of the meetings of the board committees 
are available upon request to the members of the Board of Directors.
Audit Committee
The chairperson and the other members of the Audit Committee are appointed by the Board of Directors. 
According to Article 5.2 of the Organizational Regulations, a majority of the members of the Audit Com­
mittee shall be independent as defined by the Swiss Code of Best Practice for Corporate Governance of 
2014, published by economiesuisse (the “2014 Swiss Code”), and a majority of the members of the Audit 
Committee, including its chairperson, shall be experienced in financial and accounting matters. As of 31 
December 2024, the Audit Committee consisted of Ricarda Demarmels (Chairwoman), Franz Studer and 
Henri Mrejen.
According to the Charter of the Audit Committee attached to the Organizational Regulations, the Audit 
Committee’s responsibilities include:
•	 assessing the quality and effectiveness of the external audit and the internal control system, 
including risk management;
•	 reviewing the Company’s financial statements and the auditors’ management letter;
•	 making recommendations to the Board of Directors regarding the submission of the Company’s 
financial statements to the Annual General Meeting;
•	 assessing the performance, costs and independence of the external auditors;
•	 reviewing the scope of the external audit and any other matters pertaining thereto;
•	 ensuring appropriate reporting by the external auditors;
•	 reviewing any questions, comments or suggestions the external auditors may have regarding internal 
control, risk management, accounting practices and procedures with the external auditors and the CFO; 

43
Corporate Governance  Sensirion Annual Report 2024
•	 supporting the Board of Directors in preparing the proposal to the general meeting of shareholders 
to elect or remove the external auditors;
•	 discussing any material legal or risk matters with the Executive Committee;
•	 supporting the Board of Directors with regard to financial planning and the principles of accounting 
and financial control;
•	 reviewing and recommending to the Board of Directors for approval the report on non-financial 	
	
	
matters pursuant to Article 964c CO;
•	 reviewing the appropriateness of the Audit Committee’s powers and responsibilities at least annually 	
	
and proposing any amendments to the Board of Directors; and
•	 any other tasks delegated to the Audit Committee by the Board of Directors.
The Audit Committee holds meetings as often as required, but in any event at least twice a year, or as 
requested by any of its members. In 2024, the Audit Committee held four meetings, which lasted on 
average approximately three hours each. All members of the Audit Committee, the CEO as well as the 
CFO in an advisory capacity, attended all meetings. External statutory auditors also participated in the 
meetings on specific topics.
Nomination and Compensation Committee
The members of the Nomination and Compensation Committee are elected by the general meeting of 
shareholders for a term of office until completion of the next Annual General Meeting. Re-election is 
possible. According to the Articles of Association, the compensation committee shall consist of at least 
three members of the Board of Directors, which also applies to the Nomination and Compensation Com­
mittee for so long as the functions of a nomination committee and a compensation committee are com­
bined in one committee. In case of vacancies, the Board of Directors may appoint substitute members 
from among its members for a term of office until completion of the next Annual General Meeting. The 
chairperson of the Nomination and Compensation Committee is appointed by the Board of Directors. 
According to the Organizational Regulations, at least one member of the Nomination and Compensation 
Committee shall be independent as defined by the 2014 Swiss Code. As of 31 December 2024, the Nom­
ination and Compensation Committee consisted of Felix Mayer (Chairman), Moritz Lechner and Anja 
König. All members were elected by the Annual General Meeting on 13 May 2024. Moritz Lechner and 
Felix Mayer, Co-CEOs until June 2016, have been proposed as members of the Nomination and Compen­
sation Committee due to their long-standing experience with the Group and its workforce.
According to the Charter of the Nomination and Compensation Committee attached to the Organizational 
Regulations, the Nomination and Compensation Committee’s responsibilities include:
•	 reviewing and submitting proposals to the Board of Directors regarding the Company’s compen­
sation and benefits strategy and the basic elements of the compensation for members of the Board 
of Directors and the Executive Committee;
•	 developing the compensation system for the members of the Board of Directors and of the 
Executive Committee and ensuring its implementation;
•	 reviewing and submitting proposals to the Board of Directors regarding any participation or 
incentive plans for the members of the Board of Directors, the Executive Committee or other 
employees;
•	 making grants under participation or incentive plans to members of the Executive Committee 
and delegating authority to make grants to beneficiaries other than members of the Executive 
Committee;
•	 reviewing and submitting proposals to the Board of Directors regarding the compensation of each 
member of the Board of Directors;

44
Sensirion Annual Report 2024  Corporate Governance
•	 resolving on the performance criteria and target values of the compensation of the members 
of the Executive Committee;
•	 reviewing and proposing the fixed and variable compensation of the CEO and, upon recommenda-	 	
	
tion of the CEO, of the other members of the Executive Committee to the Board of Directors 
	
for approval, subject to approval of the aggregate compensation by the Annual General Meeting;
•	 reviewing and recommending to the Board for approval the Compensation Report;
•	 determining selection criteria for the succession of the members of the Board of Directors and its   		
	
committees, the CEO and the other members of the Executive Committee (upon motion of the CEO)   	
	
and establishing the related succession planning;
•	 assessing the performance of the members of the Board of Directors and its committees, as well as   	
	
that of the members of the Executive Committee, on an annual basis;
•	 monitoring and assessing developments and trends in corporate governance;
•	 reviewing proposals to be made to the Board of Directors for the amendment of the Articles of 	
	
	
Association, the Organizational Regulations, or any other rules or regulations;
•	 reviewing the appropriateness of the Nomination and Compensation Committee’s powers 	  	
	
	
and responsibilities at least annually and proposing any amendments to the Board of Directors; and 
•	 any other tasks delegated to the Nomination and Compensation Committee by the Board of 	
	
	
Directors.
The Nomination and Compensation Committee holds meetings as often as required, but in any event at 
least twice a year, or as requested by any of its members. In 2024, the Nomination and Compensation 
Committee held seven meetings, which lasted on average approximately two hours each. All members, 
as well as the CEO in an advisory capacity, attended all meetings.
Independent Directors’ Committee
According to the Organizational Regulations, all members of the Board of Directors who are non-
executive, have not been members of the Executive Committee for at least three years, have no or com­
paratively minor business relations with the Company, and are not the Founders or other representa­
tives of the shareholder pool to which the Founders belong collectively form the Independent Directors’ 
Committee. The chairperson of the Independent Directors’ Committee is appointed by the members of 
the Independent Directors’ Committee and also acts as Lead Independent Director. As of 31 December 
2024, the Independent Directors’ Committee consisted of Ricarda Demarmels (Chairwoman and Lead 
Independent Director) and Anja König.
The responsibilities of the Independent Directors’ Committee include:
•	 approving any transactions between Anchor Shareholders (or their representatives on the Board 
of Directors) and the Group;
•	 resolving any matters in which an Anchor Shareholder (or its representative on the Board of Directors)
has a conflicting interest;
•	 reviewing the appropriateness of the Independent Directors’ Committee’s powers and responsibili­
ties at least annually and proposing any amendments to the Board of Directors;
•	 resolving any changes to the Independent Directors’ Committee’s powers; and
•	 any other tasks delegated to Independent Directors’ Committee by the Board of Directors.
The Independent Directors’ Committee holds meetings as often as required or as requested by any of its 
members. The Independent Directors’ Committee held no meeting in 2024 since no matter to be reviewed 
or approved by the Independent Director’s Committee was pending.

45
Corporate Governance  Sensirion Annual Report 2024
Areas of responsibility of the Board of Directors and the Executive Committee
The Board of Directors has the ultimate responsibility for the business strategy of Sensirion and super­
vises the management of the Group. In particular, it decides on the strategic, organizational, accounting
and financial planning and non-financial (sustainability) framework of Sensirion.
The Board of Directors has delegated the management to the Executive Committee under the direction 
of the CEO. The powers and duties of the CEO and the Executive Committee are set forth in the 
Organizational Regulations. The CEO has all powers and duties that are not reserved to the Board
of Directors or the Co-Chairmen by virtue of law, the Articles of Association or the Organizational Regu­
lations. The CEO chairs the Executive Committee and is responsible for:
•	 preparing and implementing resolutions of the Board of Directors and making proposals to the 
Board of Directors;
•	 organizing, managing and supervising the day-to-day business;
•	 making proposals regarding the appointment of other members of the Executive Committee and 
	
for the approval of certain major transactions;
•	 organizing the Executive Committee and preparing, calling and chairing Executive Committee 
	
meetings; 
•	 ensuring a timely and orderly flow of information between the Executive Committee and the Board 
of Directors; and
•	 organizing, managing and supervising non-financial / sustainability topics.
The Executive Committee shall support the CEO in the discharge of his duties and shall consider and 
decide on all matters and decisions material to the Group that are within its purview. The Executive 
Committee meets on a regular basis in accordance with the guidelines and instructions established from 
time to time by the CEO.
Management and oversight of sustainability
At the Executive Committee level, non-financial/sustainability topics are managed by the CEO. A team of 
experts led by a representative for ESG matters meets once a month to discuss sustainability topics, 
measures and progress. Progress and pending decisions regarding sustainability ambitions are dis­
cussed with the CEO and the Board of Directors on a regular basis. The interdisciplinary sustainability 
team consisting of a group of internal experts on topics linked to sustainability (e.g. Investor Relations, 
Environmental Health and Safety, Maintenance & Infrastructure) drive activities and initiatives towards 
achieving the set goals. They are also responsible for informing the Board of Directors on all relevant 
matters related to sustainability and preparing recommendations to the Board of Directors, which leads 
all strategic initiatives including the achievement of the set sustainability goals. In 2022, the CO2 roadmap 
and the materiality matrix were approved by the Board of Directors.
Information and control instruments vis-à-vis the Executive Committee
The CEO informs the Board of Directors at its meetings on the current course of business and all major 
business matters of the Company or the Group companies. On a quarterly basis, the CEO informs the 
Board of Directors on quarterly results (with a comparison to the budget and the result of the previous 
quarter and the same quarter of the previous year), the Company’s financial situation, as well as any 
developments that might have a significant impact on the course or conduct of business. Any extraordi- 
nary matters must be reported by the CEO to the members of the Board of Directors without delay.

46
Sensirion Annual Report 2024  Corporate Governance
The Co-Chairmen maintain close contact with the CEO and the other members of the Executive Com­
mittee. The course of business and all major issues are discussed at regular meetings with the CEO 
and/or the CFO scheduled at least once a month. Each member of the Board of Directors may request 
information from the CEO and from the other members of the Executive Committee on the course of 
business.
The Executive Committee updates the Board of Directors on the status of the business plan and key 
financial figures on a monthly basis. Disruptive differences to the business plan are reported by the 
CEO to the Co-Chairmen on a case-by-case basis. The yearly forecast and business plan are approved 
by the Board of Directors.
The internal audit, control and risk management systems within the Group are based on structured and 
assigned competencies, which are implemented in the ERP system based on function and legal entity. 
To mitigate financial risks, the subsidiaries may not take out any credit lines nor any bank loans with 
third parties. Furthermore, clear delimitations of responsibilities and process-integrated controls such 
as the use of the dual control principle constitute additional control measures. During the financial year, 
specific control activities have been performed at subsidiary level to ensure a proper and reliable 
accounting from a stand-alone but also from a group view. The correctness and effectiveness of the 
internal control system is ensured on an annual basis by process-independent auditing activities by 
internal audit team members and is regularly reported to the Executive Committee and the Audit Com­
mittee. The internal audit reports are made available to the external statutory auditors.
The subsidiaries report their financial results to the Executive Committee on a monthly basis. Recruiting 
of new staff at the subsidiary level has to be approved by the respective board of directors. In addition, 
the Board of Directors of Sensirion Automotive Solutions AG, Qmicro B.V. and Sensirion Connected 
Solutions AG receive a separate financial and business update from its business on a quarterly basis.

47
Corporate Governance  Sensirion Annual Report 2024
Executive Committee
In accordance with and subject to Swiss law, the Articles of Association and the Organizational Regulations, 
the Board of Directors has delegated the Company’s management to the Executive Committee under the 
direction of the CEO.
Members of the Executive Committee
According to the Organizational Regulations, the CEO is appointed by the Board of Directors and shall not 
be a member of the Board of Directors. The other members of the Executive Committee are appointed 
or removed by the Board of Directors upon motion of the CEO.
As of 31 December 2024, the Executive Committee consisted of six members (including the CEO). The 
following table sets forth the name and position of each member of the Executive Committee.
Name
Appointed
Position 
Dr. Marc von Waldkirch
2016
CEO
Dr. Franziska Brem
2023
VP Operations
Matthias Gantner
2012
CFO (retired 31 December 2024)
Rahel Meuwly
2023
VP Human Resources
Simon Sonderfeld
2024
VP Marketing & Sales
Dr. Johannes Schumm
2016
VP Research & Development
Changes in the composition of the Executive Committee
After 16 years with Sensirion, 11 of which on the Executive Committee as VP Marketing & Sales, Andrea 
Orzati has decided to pursue a new challenge outside Sensirion. Effective as of 1 November 2024, Simon 
Sonderfeld joined the Executive Committee as VP Marketing & Sales.
Matthias Gantner, CFO, retired on 31 December 2024 after 13 years at Sensirion. Martin Wirz was 
appointed as CFO and joined the Executive Committee effective as of 1 January 2025. Martin Wirz has 
been with Sensirion for over 11 years, covering various leadership roles.
The biography of Andrea Orzati can be found on page 107 of the Annual Report 2023. The biography of 
Martin Wirz can be found on our website.
Other functions and activities
Pursuant to Article 29 of the Articles of Association, no member of the Executive Committee may hold 
more than five mandates in comparable functions at enterprises with an economic purpose other than 
Sensirion Holding AG or its subsidiaries, of which not more than one may be in listed companies.
Management contracts
Sensirion Holding AG has not entered into any management contracts with other companies (or indi- 
viduals) not belonging to the Group.

48
Sensirion Annual Report 2024  Corporate Governance
Executive Committee
Matthias Gantner, CFO
Marc von Waldkirch, CEO
Rahel Meuwly, VP Human Resources

49
Corporate Governance  Sensirion Annual Report 2024
Simon Sonderfeld, VP Marketing & Sales
Franziska Brem, VP Operations
Johannes Schumm, VP Research & Development

50
Sensirion Annual Report 2024  Corporate Governance
Executive Committee
Dr. Marc von Waldkirch CEO, Swiss national, born in 1974
Marc von Waldkirch has been serving as the Company’s CEO since 2016. Before becoming CEO, he held a 
variety of management positions in the Group from 2005 to 2016, including Vice President Research & Develop­
ment and Head of the Research & Development Liquid Flow Sensors. Before joining the Group, he worked as 
Research Assistant at the Swiss Federal Institute of Technology (ETH Zurich). Currently, Marc von Waldkirch 
serves on the Board of Directors of Lumiphase AG and Tannerberg AG. He received an MSc in Physics and a 
PhD in Electrical Engineering, both from ETH Zurich.
Dr. Franziska Brem, VP Operations, Swiss national, born in 1977
Franziska Brem has been Vice President Operations since 2023. After joining the Group in 2017, she was Head 
of R&D Packaging. Previously, she worked for 7 years at ABB Switzerland AG in the Corporate Research Center 
as Group Leader Power Electronics Packaging and Reliability and as Principal Scientist. Prior to that, she 
worked for 4 years at Sensirion as a Research and Development Engineer. She holds a Master’s degree in 
Materials Engineering and a PhD in Materials Science, both from ETH Zurich.
Matthias Gantner CFO, German national, born in 1964
Matthias Gantner has been serving as the Company’s CFO since 2012. He has many years of experience in 
finance and, prior to joining the Group, he held the position of Head of Service and Sales Order Processing at 
allsafe Jungfalk for one year, where he was a member of the Executive Committee for the same period. Prior to 
that, he held various functions related to finance and controlling at Norican Group for thirteen years and worked 
as Controller at Schiesser Eminence Group for three years. He holds a degree in Business Administration from 
the University of Applied Sciences, Pforzheim (Dipl.-Betriebswirt).
Rahel Meuwly VP Human Resources, Swiss national, born in 1980
Rahel Meuwly has been Vice President Human Resources since 2023. From 2019 until 2022, she was Head of 
People and Places at Appway AG, where she was responsible for Human Resources as well as the global offices. 
Until end of 2018, she spent more than seven years in senior management positions in the area of Talent and 
People Development at Zurich Insurance Company. Before that, she spent six years at Credit Suisse, where her 
roles included team leader and Global HR Business Partner in the IT division. Rahel Meuwly holds a Master of 
Business Administration with a specialization in Management of Social Processes from the University of St. 
Gallen. She completed a Leadership Training at the IMD as well as several postgraduate studies in Human 
Capital Management at the ZHAW (Zurich University of Applied Sciences).

51
Corporate Governance  Sensirion Annual Report 2024
Simon Sonderfeld VP Marketing & Sales (since Nov 1st, 2024), German national, born in 1980 
Simon Sonderfeld has been Vice President Sales & Marketing since 2024. Prior to joining Sensirion, he was 
Director Global Sales at Bosch Sensortec, overseeing global sales strategy and serving on the MEMS product 
area board. Before that, his career covered various leadership positions at Bosch, including regional respon-
sibility for business development in Southeast Asia and deployment of telemedicine solutions for Bosch 
Healthcare in the UK. He holds a Diploma in Industrial Engineering and Management from Karlsruhe Institute 
of Technology.
Dr. Johannes Schumm VP Research & Development, German and Swiss national, born in 1979 
Johannes Schumm has been the Vice President Research & Development since 2016. Before that, he worked 
as Director of Research & Development Pressure Sensors and Project Manager. Prior to joining the Group in 
2010, he was Research Assistant at the Swiss Federal Institute of Technology (ETH Zurich) for four years. He is 
a member of the Industry Advisory Board of the SATW in Switzerland and the Advisory Board of the Fraunhofer 
IPMS in Germany. He studied Electrical Engineering and Information Technology at RWTH Aachen University 
and received a PhD in Electrical Engineering from ETH Zurich.

52
Sensirion Annual Report 2024  Corporate Governance
Compensation, shareholdings and loans
Information on the compensation and shareholdings of the members of the Board of Directors and the 
Executive Committee are set forth in the Compensation Report starting on page 56.
Shareholders’ participation rights
Voting rights restrictions and representation
At the general meeting of shareholders of Sensirion Holding AG, each registered share of Sensirion 
Holding AG entitles the owner to one vote. A shareholder may only exercise voting rights or rights asso- 
ciated therewith to the extent that such shareholder has been recorded in the share register as a share- 
holder with voting rights. No shareholder or proxy may, directly or indirectly, exercise voting rights 
attached to shares that they own or represent that would collectively exceed 5 % of the shares of
Sensirion Holding AG recorded in the commercial register (the “Voting Limit”; see Article 12 of the 
Articles of Association). According to Article 12 para. 3 of the Articles of Association, a group clause 
applies to determine whether the Voting Limit is crossed. The Voting Limit does not apply to (i) the exer­
cise of voting rights by shareholders or their proxies, respectively, to the extent that their shares are 
registered with voting rights in the share register (see above “Limitations on Transferability and Nominee 
Registrations” on page 34), or (ii) to the independent proxy to the extent that he has been appointed as 
proxy by shareholders. A resolution passed at a general meeting of shareholders with a qualified major­
ity of at least two-thirds of the votes represented and the majority of the par value of shares represented 
at such meeting is required for the amendment or cancelation of Article 12 para. 1 to 4 of the Articles of 
Association regarding the Voting Limit.
Shareholders of Sensirion Holding AG may elect to be represented at a general meeting of shareholders 
by the independent proxy, by their legal representative or, by means of a written proxy, by any other 
proxy, who need not be a shareholder. On 13 May 2024, the Annual General Meeting re-elected Law 
Office Keller Partnership, Zurich, as the independent proxy of Sensirion Holding AG for a term of office 
until completion of the next Annual General Meeting.
Quorum and majorities required by the Articles of Association
There is no provision in the Articles of Association requiring the presence of shareholders to constitute a 
quorum for general meetings of shareholders.
Shareholders’ resolutions generally require the approval of a majority of the votes represented at the 
general meeting of shareholders, unless otherwise required by Swiss law or the Articles of Association. 
A resolution passed at a general meeting of shareholders with a qualified majority of at least two-thirds 
of the votes represented and the majority of the par value of shares represented at such meeting is 
required by law and the Articles of Association for (i) any amendment of the Company’s purpose; (ii) the 
creation or cancelation of shares with privileged voting rights; (iii) restrictions on the transferability of 
registered shares and the cancelation of such a restriction; (iv) the introduction of conditional share 
capital or the introduction of a capital range; (v) a share capital increase by conversion of equity surplus, 
against contributions in kind, by set-off against a claim, or the granting of special benefits; (vi) the limita­
tion or withdrawal of pre-emptive rights of shareholders; (vii) the relocation of the registered office of the 
Company; (viii) the dissolution of the Company; (ix) mergers, demergers, and conversions pursuant to the 
Swiss Merger Act; (x) the combination of shares; (xi) the change of currency of the share capital; (xii) the 
introduction of the casting vote of the acting chair in the general meeting of shareholders; (xiii) a provi­
sion in the Articles of Association to conduct a general meeting of shareholders abroad; (xiv) the delisting 

53
Corporate Governance  Sensirion Annual Report 2024
of the Company’s equity securities; and (xv) the introduction of an arbitration clause in the Articles of 
Association. In addition, such qualified majority is also required pursuant to Article 13 para. 2 section 16 
of the Articles of Association for the amendment or cancellation of the following provisions of the Articles 
of Association, with the exception of editorial or technical amendments: (w) the provisions regarding the 
share register, restrictions on the registration of shareholders therein, and nominees (Article 5), (x) the 
provisions regarding shareholders’ right to vote, including the Voting Limit (Article 12 para. 1 to 4), (y) the 
provision regarding the size of the Board of Directors (Article 14), and (z) the provision regarding the 
opting-up in relation to the obligation to make a mandatory tender offer (Article 33).
Calling and agenda of the general meeting of shareholders
General meetings of shareholders are convened by the Board of Directors or, if necessary, by the exter­
nal auditors in accordance with Swiss law. An extraordinary general meeting of shareholders must be 
convened upon resolution of a general meeting of shareholders or upon written request by one or 
several shareholders who represent an aggregate of at least 5 % of the Company’s share capital or the 
votes, provided that such request specifies the agenda items and the proposals or, in case of elections, 
the names of the proposed candidates. One or several shareholders who represent an aggregate of at 
least 0.5 % of the Company’s share capital or the votes have the right to request that a specific proposal 
be put on the agenda for the next general meeting of shareholders. The Articles of Association require 
that such request is communicated to the Board of Directors at least 45 calendar days prior to the next 
general meeting. A general meeting of shareholders is convened at least 20 calendar days prior to such 
meeting by publishing a notice of the meeting in the Swiss Official Gazette of Commerce (Schweizerisches 
Handelsamtsblatt).
Registration in the share register
Prior to a general meeting of shareholders, the Board of Directors will determine the date on which a 
shareholder has to be registered in the share register in order to exercise their participation and voting 
rights in the general meeting of shareholders. This record date will be published, together with the 
invitation to the general meeting of shareholders, in the Swiss Official Gazette of Commerce. As a rule, the 
share register will be closed for new entries around 10 days prior to the general meeting of shareholders.
Changes of control and defense measures
Duty to make an offer and opting-up
Pursuant to the Swiss Federal Financial Market Infrastructure Act (“FMIA”), any person that acquires 
equity securities of a company whose shares are listed on a Swiss stock exchange, whether directly or 
indirectly or acting in concert with third parties, and, as a result, exceeds the threshold of 33 1/3 % of the 
voting rights (whether exercisable or not) of such company must submit a public tender offer to acquire 
100 % of the listed equity securities of such company. Article 33 of the Articles of Association of Sensirion 
Holding AG provides for an opting-up pursuant to Art. 135 para. 1 FMIA by raising such threshold to 40 % 
of the voting rights of Sensirion Holding AG. Accordingly, the rules regarding mandatory tender offers 
would only be triggered if the threshold of 40 % of the voting rights is exceeded.
Clauses on changes of control
Sensirion Holding AG granted restricted share units (“RSUs”) outstanding as of 31 December 2024 to 
employees of the Group, including members of the Executive Committee, under the Bonus and Restricted 
Share Unit Plan of Sensirion Holding AG (see Compensation Report on pages 56 to 72). In the event of a 
change of control of Sensirion Holding AG, the Board of Directors may in its sole discretion (i) terminate 
unvested RSUs against compensation, (ii) convert, replace or roll over unvested RSUs, and (iii) in the 
event of a conversion, sell the shares resulting from such conversion.

54
Sensirion Annual Report 2024  Corporate Governance
Auditors
Duration of the mandate and term of office of the lead auditor
KPMG AG (“KPMG”), Badenerstrasse 172, 8004 Zurich, Switzerland has acted as statutory external auditor 
of Sensirion Holding AG since 2008. The Annual General Meeting re-elected KPMG as external auditors 
on 13 May 2024. Silvan Jurt (Partner) has been acting as the responsible lead auditor since 2019. In accor­
dance with Swiss law, the lead auditor will rotate at least every seven years.
Auditing fees and additional fees
In the financial year 2024, total auditing fees charged by KPMG for the audit of the consolidated financial 
statements of Sensirion Holding AG and its Group companies as well as the audit of the statutory financial 
statements of Sensirion Holding AG amounted to CHF 408,000. This includes audit-related additional fees 
of CHF 72,000.
For additional services performed by KPMG in the financial year 2024, Sensirion was charged total non-
auditing fees as follows.
Additional fees, in thousand of CHF
 Amount
Corporate compliance services *
130
Tax advice
148
Total
278 
*	Including services for risk assessment, forensic consulting as well as sustainability
Information instruments
The Board of Directors exercises its responsibility for the supervision of the auditors through the Audit 
Committee, which assesses the quality and effectiveness of the external audit on a regular basis. The 
Audit Committee reviews the scope of the external audit, the audit plan as well as the results of the 
external audit. Further, the Audit Committee reviews any questions, comments or suggestions of the 
external auditors regarding internal control, risk management and accounting practices and procedures 
with the external auditors and the CFO.
In addition to the audit reports on the consolidated financial statements and the statutory financial state- 
ments of Sensirion Holding AG, the external auditors prepare a comprehensive report for the Board of 
Directors pursuant to Article 727a CO. The Audit Committee discusses the comprehensive report and the 
results of the external audit in detail with the external auditors.
The lead auditor attended all meetings of the Audit Committee. Further, the Audit Committee assesses 
the performance, costs and independence of the external auditors on an annual basis and supports the 
Board of Directors in preparing the proposal to the general meeting of shareholders to elect the external 
auditors.
The Audit Committee verifies that any additional services of the external auditors not relating to the audit 
services are provided within the independence requirements pursuant to Swiss law. The external auditors 
are required to confirm that their performance of these additional services will not affect their indepen- 
dence for the audit mandate.

55
Corporate Governance  Sensirion Annual Report 2024
Information policy
Sensirion Holding AG publishes its Annual Report and its interim report on the dates listed in the finan­
cial calendar set forth below and published on its Investor Relations website at https://www.sensirion.
com/ financial-calendar. Financial reports, press releases, information on corporate governance and 
share information are available on the Investor Relations website at https://www.sensirion.com/investors.
The CEO, the CFO and the Director Investor Relations regularly take part in various external investor 
meetings.
Sensirion Holding AG publishes price-sensitive information in accordance with its disclosure obligations 
pursuant to the rules of the SIX Swiss Exchange (rules on ad hoc publicity). Interested persons may join 
Sensirion’s mailing list for ad hoc disclosures by subscribing for the company’s financial media releases
at https://www.sensirion.com/financial-newsletter. Further information for shareholders is available at 
https://www.sensirion.com/ad-hoc-notices. 
General black-out periods
According to the Company’s securities trading policy, members of the Board of Directors and the 
Executive Committee and employees directly reporting to them, including their respective staff having 
access to inside information, are prohibited from trading in shares and other securities of the Company 
as well as related financial instruments during the following periods due to their access to confidential 
information on a regular basis:
•	 the periods starting two weeks prior to the end of any half- and full-year reporting period of the 
	
Company and ending one full trading day following the public release of the respective results;
•	 the period starting two weeks before any other public earnings release of the Company and 
	
ending one full trading day following such public release; and
•	 the period starting four weeks prior to the first public release of an offering memorandum for the
	
issuance of shares or other securities of the Company and ending one full trading day following
	
such public release.
Contact
Sensirion Holding AG · Lars Dünnhaupt, Director Investor Relations
Laubisrütistrasse 50 · 8712 Stäfa · Switzerland	
Phone: +41 44 306 40 00 · lars.duennhaupt@sensirion.com
Financial calendar
11 March 2025	
2024 full-year results and Annual Report
12 May 2025	
2025 Annual General Meeting
20 August 2025	
2025 half-year results and Interim Report

56
Sensirion Annual Report 2024  Compensation Report
Compensation Report
This Compensation Report describes Sensirion’s principles of compensation and provides information 
on the compensation awarded to the members of the Board of Directors and the Executive Committee in 
the financial year 2024. The Compensation Report has been prepared in accordance with Art. 734 et seq. 
of the Swiss Code of Obligations (the “CO”), item 5 of the Directive on Information relating to Corporate 
Governance of SIX Exchange Regulation and the Swiss Code of Best Practice for Corporate Governance 
issued by economiesuisse (the “Swiss Code”).
The Compensation Report will be presented to the annual general meeting of shareholders of Sensirion 
Holding AG (the “Annual General Meeting”) on 12 May 2025 for a consultative vote.
Basic principles of compensation
The compensation system of Sensirion aims to attract, engage and retain talented, highly qualified and 
motivated executives and employees to implement Sensirion’s strategy, to ensure sustainable corporate 
growth, to foster an entrepreneurial mindset and to create long-term sustainable shareholder value. The 
key principles of our compensation system are based on our company values “fair and honest, work 
together, top performance” and are as follows:
•	 Fairness, transparency and simplicity (reflecting “fair and honest”);
•	 Reward for performance (reflecting “top performance”);
•	 Focus on sustainable long-term value creation, thereby aligning executives’ and employees’ interests 
with shareholders’ interests (reflecting “work together”).
In order to implement the above-mentioned principles, we treat all employees, including the Executive 
Committee, in the same manner regarding remuneration. In addition, as a result of Sensirion’s long-term 
business perspective based on the fact that the majority of projects worked on in a given year only 
generate relevant revenues within a timeframe of two to four years, Sensirion does not believe that a very 
short-term view reflects all considerations pertaining to an annual bonus. As a consequence, our guiding 
principles for the annual bonus are as follows:
•	 Employees participate in the long-term development of Sensirion by way of the Bonus and RSU Plan.
•	 At Sensirion, individual performance is assessed against pre-defined individual performance 
objectives and discussed with the supervisor as part of a year-end personal review meeting where 
new individual performance objectives are determined for the following year.
•	 Sensirion believes that individual performance cannot be fully measured by key performance 
indicators only and that looking at quantitative targets only may create wrong incentives. Therefore, 
(i) the major part of an employee’s compensation consists of a fixed base salary and the variable 
bonus only accounts for a small portion of the total compensation and (ii) the bonus takes into account 
the overall assessment of an employee’s individual performance by their direct supervisor. The annual 
bonus typically amounts to up to 10 % of fixed compensation for employees and up to 20 % of fixed 
compensation for members of the Executive Committee.
•	 For the members of the Executive Committee, the aggregate variable compensation proposed to the 
Annual General Meeting by the Board of Directors is subject to approval by the Annual General Meeting 
before being executed.

57
Compensation Report  Sensirion Annual Report 2024
Compensation governance
Responsibility for compensation
In accordance with the Articles of Association and the Organizational Regulations of Sensirion Holding 
AG, the Board of Directors is responsible for the compensation and benefits strategy of Sensirion and for 
the basic elements of the compensation system for the members of the Board of Directors and of the 
Executive Committee. The Board of Directors approves the individual compensation of the members of 
the Board of Directors and the Executive Committee subject to approval of the maximum aggregate com­
pensation by the Annual General Meeting.
The Nomination and Compensation Committee supports the Board of Directors in compensation-related 
matters. It consists of at least three members of the Board of Directors, of which at least one member 
must be independent as defined by the 2014 Swiss Code. As of 31 December 2024, the Nomination and 
Compensation Committee consisted of Felix Mayer (Chairman), Moritz Lechner and Anja König, who were 
elected by the Annual General Meeting on 13 May 2024. According to the Charter of the Nomination and 
Compensation Committee attached to the Organizational Regulations, the Nomination and Compensation 
Committee has the following main tasks:
•	 developing the compensation system for the members of the Board of Directors and the Executive 
Committee and ensuring its implementation;
•	 making grants under participation or incentive plans to members of the Executive Committee 
	
and delegating authority to make grants to beneficiaries other than members of the Executive 	
	
	
Committee;
•	 resolving on the performance criteria and target values of the compensation of the members of the 
Executive Committee; and
•	 proposing the fixed and variable compensation of the CEO and, upon recommendation of the 
	
CEO, of the other members of the Executive Committee to the Board of Directors for approval, 	
	
	
subject to approval of the aggregate compensation by the Annual General Meeting 
The Nomination and Compensation Committee holds meetings as often as required, but in any event at 
least two times a year, or as requested by any of its members. In 2024, the Nomination and Compensation 
Committee held seven meetings, which all members attended. The Chairman of the Nomination and Com­
pensation Committee reports to the Board of Directors on the committee’s activities. The minutes of the 
meetings of the Nomination and Compensation Committee are available upon request to the members of 
the Board of Directors.
Additional information on the Nomination and Compensation Committee is provided in the Corporate 
Governance Report on pages 43-44.

58
Sensirion Annual Report 2024  Compensation Report 
Authorities in compensation-related matters
AGM
Board
NCC
CEO
Compensation and benefits strategy; 
basic elements of the compensation system
Approves
Proposes
Maximum aggregate compensation of the Board Approves
Proposes
Proposes
Individual compensation of Board members
Approves
Proposes
Maximum aggregate fixed compensation
of the EC (prospective)
Approves
Proposes
Proposes
Aggregate variable compensation of the EC 
(retrospective)
Approves
Proposes
Proposes
Individual compensation of the CEO
Approves
Proposes
Individual compensation of other EC members
Approves
Proposes
Proposes
Performance criteria and target values 
of compensation of EC members
Approves
Proposes
Compensation Report
Consultative vote
Approves
Proposes
AGM: Annual General Meeting; Board: Board of Directors; NCC: Nomination and Compensation Committee; 
CEO: Chief Executive Officer; EC: Executive Committee
Shareholders’ approval of compensation (Say on Pay)
In accordance with Art. 735 CO and Article 25 of the Articles of Association, the Annual General Meeting 
must approve the proposals by the Board of Directors regarding the aggregate amounts of:
(1) the maximum compensation of the Board of Directors until completion of the next Annual General 
Meeting; (2) the maximum fixed compensation of the Executive Committee for the following financial 
year; and (3) the variable compensation of the Executive Committee for the preceding financial year.
The following chart shows for which periods proposals on compensation will be submitted for approval 
to the Annual General Meeting on 12 May 2025.
AGM 2025
(12 May 2025)
AGM 2026
1 Board of Directors 
Max. aggregate compensation of Board 
of Directors until completion of Annual 
General Meeting 2026 (prospective)
2 Executive Committee fixed
Max. aggregate fixed compensation 
of Executive Committee for financial 
year 2026 (prospective)
3 Executive Committee variable 
Aggregate variable compensation 
of Executive Committee for financial 
year 2024 (retrospective)
Financial year 2024
Financial year 2025
Financial year 2026

59
Compensation Report    Sensirion Annual Report 2024
If the maximum aggregate amount of compensation of the Executive Committee already approved by the 
Annual General Meeting is not sufficient to also cover the compensation of persons newly appointed to 
or promoted within the Executive Committee, each such person may be paid up to 40 % (in the case of the 
CEO) or 20 % (all other members of the Executive Committee), as applicable, of the aggregate amount of 
(maximum) compensation of the Executive Committee last approved by the Annual General Meeting.
Compensation rules in the Articles of Association
The Articles of Association of Sensirion Holding AG, which can be found on our website (https://www.
sensirion.com/articles-of-association-internal-regulations), provide for the principles of compensation 
applicable to the Board of Directors and the Executive Committee. These provisions include:
•	 Approval of the compensation of the Board of Directors and the Executive Committee by the Annual 
General Meeting (Article 25);
•	 Supplemental amount for changes to the Executive Committee (Article 26); and
•	 Principles of compensation of the members of the Board of Directors and the Executive Committee 
(Article 27).
The Articles of Association do not provide for the granting of loans and credit facilities to the members 
of the Board of Directors or the Executive Committee.
Compensation of the members of the Board of Directors
Compensation structure
The compensation for the members of the Board of Directors consists exclusively of a fixed compensa- 
tion in cash to ensure that the Board of Directors remains independent in exercising its supervisory duties 
towards the Executive Committee. In accordance with the Articles of Association, the Board of Directors 
determines the amount of compensation of its members based on their position and level of responsibil- 
ity on an annual basis.
Until 30 August 2024, the Co-Chairmen acted for Sensirion AG, Stäfa, Switzerland, each on a 50 % basis, 
and were responsible for sensor innovation and strategic tasks. They were not involved in the day- 
to-day management of Sensirion. For their work, each Co-Chairman received a fixed compensation of 
CHF 250,000 p.a., consisting of CHF 100,000 for their role as Co-Chairman and CHF 150,000 for sensor 
innovation and strategic tasks. As of 1 September 2024, Felix Mayer has stopped his responsibilities in 
the area of strategic advisory and sensor innovation and will focus on his role as Co-Chairman and 
Chairman of the Nomination and Compensation Committee (NCC). Moritz Lechner will continue to 
assume responsibility for strategic advisory and sensor innovation.  In addition, the Co-Chairmen parti-
cipate in the occupational pension plans of Sensirion, but they are not entitled to a performance-related 
compensation.
The compensation awarded to the other members of the Board of Directors consists of a fixed board 
membership fee of CHF 50,000 p.a. and additional fixed fees as chairperson or member of a committee 
of the Board of Directors as set forth below.

60
Sensirion Annual Report 2024  Compensation Report 
Elements of Board compensation (in CHF per year)
Chairperson1
Member
Board of Directors
130,000
50,000
Audit Committee (AC)
30,000
20,000
Nomination and Compensation Committee (NCC)
20,000
10,000
Independent Directors’ Committee (IDC)
10,000
10,000
Strategic advisory and Sensor Innovation                                                                              
110,000
1	Until 30 August 2024, each Co-Chairman received a fixed compensation of CHF 250,000 p.a. by Sensirion AG, 
each on a 50 % basis, CHF 100,000 for their role as Co-Chairman and CHF 150,000 for sensor innovation and strategic tasks. 
Dr. Felix Mayer, Co-Chairman, did not receive any additional compensation as chairman of the NCC. Dr. Moritz Lechner, 
Co-Chairman, did not receive any additional compensation as member of the NCC. As of 1 September 2024, Felix Mayer 
has stopped his responsibilities in the area of strategic advisory and sensor innovation and will focus on his role as Co- 
Chairman and Chairman of the Nomination and Compensation Committee (NCC). Moritz Lechner will continue to assume 
responsibility for strategic advisory and sensor innovation. As of 1 September 2024, Dr. Felix Mayer, Co-Chairman, 
will receive compensation as Chairman of the NCC and Dr. Moritz Lechner, Co-Chairman, will receive compensation as 
member of the NCC. In addition, each Co-Chairman participates in the occupational pension plans of Sensirion, but 
they are not entitled to a performance-related compensation.
For the last time in 2024, Sensirion performed a comparison of the compensation for the members of the 
Board of Directors with peers listed on the SIX Swiss Exchange from the technology and manufacturing 
sectors with revenues in the range of CHF 50-600 million.
In addition, all members of the Board of Directors may be compensated with an additional fee in 
exceptional circumstances for performing special tasks for Sensirion, assigned to them and approved 
by the Board of Directors, that are outside of their regular duties and activities as members of the 
Board of Directors.
The members of the Board of Directors are compensated in cash. The cash compensation is paid to the 
Co-Chairmen on a monthly basis and to the other members of the Board of Directors on an annual basis 
in arrears. Further, the members of the Board of Directors are reimbursed for all reasonable expenses 
incurred by them in the discharge of their duties.
The Nomination and Compensation Committee reviews the annual compensation of the members of the 
Board of Directors and submits a proposal to the Board of Directors regarding the compensation of 
each member of the Board of Directors on an annual basis. The Co-Chairmen and the other members of 
the Nomination and Compensation Committee participate in meetings of the Nomination and Compen­
sation Committee where their compensation is discussed. The Nomination and Compensation Commit­
tee decides collectively on the overall proposal to the Board of Directors regarding the individual com­
pensation of the members of the Board of Directors. Once per year in a meeting, the Board of Directors 
approves the individual compensation of each Co-Chairman, in the event of member specific changes 
under abstention of the relevant Co-Chairman and each other member, as well as the proposal to the 
Annual General Meeting regarding the aggregate amount of the maximum compensation for all of its 
members.

61
Compensation Report  Sensirion Annual Report 2024
Compensation awarded to the members of the Board of Directors
As of 31 December 2024, the Board of Directors consisted of six members. At the Annual General 
Meeting on 13 May 2024, François Gabella did not stand for re-election. All other members of the Board 
of Directors were re-elected for another term of office until completion of the next Annual General 
Meeting in 2025. In addition, Henri Mrejen, Head of Investments at 7-Industries, was elected as a new 
member of the Board of Directors until the upcoming Annual General Meeting on 12 May 2025.
For the financial years 2024 and 2023, the compensation of the members of the Board of Directors is set 
out in the following table.
The compensation awarded to the members of the Board of Directors for the term up to the Annual 
General Meeting 2024 was within the maximum aggregate amount of compensation approved by the 
Annual General Meeting 2023 as set forth below. The maximum aggregate amount of compensation for 
the members of the Board of Directors for the current term was approved at the Annual General Meeting 
on 13 May 2024.
Compensation period
Approved (CHF)
Effective (CHF)
AGM 2023 – AGM 2024
950,000
925,743
AGM 2024 – AGM 2025
950,000
to be determined1
AGM: Annual General Meeting
1 The effective amount will be disclosed in the 2025 Compensation Report.
Compensation of the Board of Directors in 2024 (audited)
In CHF
Basic 
compensation
Additional compensation
(committees, 
special tasks)
Pension benefits 
and social 
security 
contributions
Total 
compensation
Dr. Moritz Lechner, Co-Chairman1
246,667
    3,333 
48,455
298,455
Dr. Felix Mayer, Co-Chairman1
210,005
    6,667 
42,017
 258,689 
Ricarda Demarmels
50,000
 40,000 
6,6503 
 96,650 
Francois Gabella2
16,667
6,667
1,335
24,669
Henri Mrejen4
33,333
13,333
3,5093
 50,176 
Dr. Anja König
50,000
30,000
5,9113
85,911
Dr. Franz Studer
50,000
 20,000 
5,2633
 75,263 
Total
 656,672 
120,000
113,141
889,813
1	Until 30 August 2024, each Co-Chairman received a fixed compensation of CHF 250,000 p.a. by Sensirion AG, 
each on a 50 % basis, CHF 100,000 for their role as Co-Chairman and CHF 150,000 for sensor innovation and strategic tasks. 
Dr. Felix Mayer, Co-Chairman, did not receive any additional compensation as chairman of the NCC. Dr. Moritz Lechner, 
Co-Chairman, did not receive any additional compensation as member of the NCC. As of 1 September 2024, Felix Mayer 
has stopped his responsibilities in the area of strategic advisory and sensor innovation and will focus on his role as Co- 
Chairman and Chairman of the Nomination and Compensation Committee (NCC). Moritz Lechner will continue to assume 
responsibility for strategic advisory and sensor innovation. As of 1 September 2024, Dr. Felix Mayer, Co-Chairman, 
will receive compensation as Chairman of the NCC and Dr. Moritz Lechner, Co-Chairman, will receive compensation as 
member of the NCC. In addition, each Co-Chairman participates in the occupational pension plans of Sensirion, but they 
are not entitled to a performance-related compensation.
2	Until May 13, 2024
3	Social security contributions required by Swiss Law.
4	Member of the Board of Directors since 13th May 2024.

62
Sensirion Annual Report 2024  Compensation Report
Compensation of the Board of Directors in 2023 (audited)
In CHF
Basic 
compensation
Additional compensation
(committees, special 
tasks)
Pension benefits 
and social 
security 
contributions
Total 
compensation
Dr. Moritz Lechner, Co-Chairman
250,0001
 – 
45,182
 295,182 
Dr. Felix Mayer, Co-Chairman
250,0001
 – 
48,783
 298,783 
Ricarda Demarmels
50,000
 40,000 
6,7002
 96,700 
François Gabella
50,000
20,000
3,8342
 73,834 
Dr. Anja König
50,000
30,000
5,9552
 85,955 
Dr. Franz Studer
50,000
 20,000 
5,2632
 75,263 
Total
700,000
110,000
115,717
 925,717 
1	Each Co-Chairman received a fixed compensation of CHF 250,000 p.a. by Sensirion AG, each on a 50 % basis, consisting 
of CHF 100,000 for their role as Co-Chairman and CHF 150,000 for sensor innovation and strategic tasks. The Co-Chairmen 
did not receive any additional compensation as Co-Chairmen of the Board of Directors. 
2	Social security contributions required by Swiss Law.
Loans or credits to members of the Board of Directors (audited)
As of 31 December 2024, there were no outstanding loans or credit facilities between Sensirion and 
current members of the Board of Directors.
Former members of the Board of Directors (audited)
In 2024, no compensation was paid to former members of the Board of Directors. As of 31 December 
2024, there were no outstanding loans or credit facilities between Sensirion and former members of the 
Board of Directors.
Related parties of members of the Board of Directors (audited)
In 2024, no compensation was paid to parties closely related to current or former members of the Board 
of Directors. As of 31 December 2024, there were no outstanding loans or credit facilities between 
Sensirion and parties closely related to current or former members of the Board of Directors.

63
Compensation Report  Sensirion Annual Report 2024
Compensation of the members of the Executive Committee
Compensation structure
The compensation for the members of the Executive Committee (or “EC”) consists of an annual base 
salary, benefits and a bonus awarded in the form of restricted shares and restricted share units (“RSUs”).
Compensation components
Instrument
Purpose
Influenced by
Annual base salary
Basic fixed
compensation
Paid in cash on a 
monthly basis
Attract and retain 
talented and highly 
qualified executives
Position
Experience
Competitive market
Bonus 
(share-based compensation)
Annual variable 
bonus
Paid in restricted 
shares and RSUs
Reward individual and 
company performance
Align to shareholders’ 
interest
Foster entrepreneurial 
mindset
Contribution to 
short-, mid- and long-
term goals of the 
company
Personal initiative
Individual extra efforts
Benefits
Pension benefits 
and social security 
contributions
Allowances in kind
Risk protection for 
participants and their 
dependents
Market practice and 
position
Legal requirements
Base salary
Members of the Executive Committee receive an annual base salary as fixed compensation paid in cash 
on a monthly basis. It reflects the scope and key areas of responsibility of the position, the qualification 
and skills required to perform the role, and the experience, seniority and skill set of the individual person. 
The base salary is reviewed and determined on an annual basis by the Nomination and Compensation 
Committee and approved by the Board of Directors. The CEO makes recommendations to the Nomination 
and Compensation Committee for the base salary of the other members of the Executive Committee.
For the last time in 2024, Sensirion performed a comparison of the compensation for the members of the 
Executive Committee with peers listed on the SIX Swiss Exchange from the technology and manufactur- 
ing sectors with revenues in the range of CHF 50-600 million.
Bonus (Equity Award)
Members of the Executive Committee are awarded an annual bonus as variable compensation paid in 
restricted shares subject to a blocking period of three years and in RSUs subject to a vesting period of 
three years under Sensirion’s Bonus and Restricted Share Unit Plan (the “Bonus and RSU Plan”), as 
further described below. As a result, the annual bonus consists of both a short-term incentive and a long-
term incentive. According to Article 25 of the Articles of Association, the aggregate amount of the annual 
bonuses awarded to the members of the Executive Committee is subject to the approval of the variable 
compensation for 2024 by the Annual General Meeting on 12 May 2025.
The Nomination and Compensation Committee reviews and proposes to the Board of Directors the 
annual bonus of the CEO and, upon recommendation of the CEO, the annual bonus of each other member 
of the Executive Committee in its sole discretion on an annual basis.
In determining variable compensation, Sensirion takes an encompassing approach that considers both 
meeting measurable targets and qualitative factors. The number of restricted shares to be awarded is 

64
Sensirion Annual Report 2024  Compensation Report
determined by dividing the bonus amount by an average price of the shares as quoted on the SIX Swiss 
Exchange over a period of time prior to the date of allocation of the shares as determined by the Company 
in its sole discretion (in 2024, 10 (ten) trading days), rounded up to the nearest full number of shares. The 
number of RSUs to be awarded is determined by the Board of Directors in its sole discretion upon recom- 
mendation of the Nomination and Compensation Committee. In 2024, the RSUs awarded for the 2024 
bonus of the members of the Executive Committee represented 100 % of the value of the restricted 
shares to create long-term incentives and alignment with shareholders’ interests. 
As a result of Sensirion’s long-term business perspective based on sustainable innovation and resulting 
long investment cycles, common, mainly short-term-oriented, quantitative target metrics are considered 
inappropriate to determine the annual bonus of the members of the Executive Committee on a strictly 
mathematical basis. Sensirion believes that individual performance cannot be fully measured by key per­
formance indicators only and that looking at quantitative targets only may create wrong incentives. 
Therefore, the major part of the compensation consists of a fixed base salary, and the variable bonus, 
which is based on performance criteria, only accounts for a small portion of the total compensation.
For the members of the Executive Committee and all other employees, individual performance objectives 
are pre-defined prior to the relevant financial year by such person’s direct supervisor (for the CEO, the 
Co-Chairmen; for the other members of the Executive Committee, the CEO) and discussed as part of the 
year-end personal review meeting. At the end of each financial year, the individual performance of the 
members of the Executive Committee and all other employees is assessed against those objectives and 
considered when determining the annual bonus. In general, the annual bonus of the members of the 
Executive Committee and all other employees is determined by taking into account the following perfor­
mance criteria, which are weighted by the Nomination and Compensation Committee in its sole discretion:
•	 Individual criteria
	
Personal contribution to the short-, mid- and long-term goals of Sensirion and the team
	
Personal initiative and willingness to take on responsibility
	
Individual extra efforts to achieve short- and mid-term goals
	
Team player and interdisciplinary skills
	
Entrepreneurial approach to achieve Sensirion’s goals
•	 Additional criteria for team and project leaders
	
Ability to attract, retain and coach talents in one’s team 
	
Communication and motivation skills
•	 Team criteria
	
Overall performance of the team 
	
Achievement of the team’s goals
As a result of this method to determine the annual bonus for the Executive Committee, Article 25 of the 
Articles of Association requires retrospective shareholder approval of the variable compensation. There- 
fore, the Company will not deliver the restricted shares and the RSUs granted with the annual bonus in 2024 
to the members of the Executive Committee prior to the approval by the Annual General Meeting 2025.
In 2024, the variable compensation in the form of the annual bonus, including RSUs, awarded to members 
of the Executive Committee represented around 15 % (in 2023, around 6 %) of the base salary for the CEO 
and between 4 % and 13 % (in 2023, 3 % to 5 %) of the base salary for the other members of the Executive 
Committee. As a rule, the amount of the annual bonus, including RSUs, granted to each member of the 
Executive Committee must not exceed 40 % of such member’s annual fixed base salary.

65
Compensation Report  Sensirion Annual Report 2024
Details of the Bonus and RSU Plan
The Bonus and RSU Plan, which is applicable to all employees of Sensirion (including the members of the 
Executive Committee) eligible for a bonus, includes special provisions applicable to the members of the 
Executive Committee as set forth in this Compensation Report. In particular, members of the Executive 
Committee are awarded their bonus only in the form of restricted shares and RSUs, whereas the other 
employees may choose between a cash bonus or an equity bonus.
Restricted shares are subject to a blocking period of three years as from the date of grant, during which 
the shares may not be sold, otherwise transferred, pledged or made the object of hedging transactions. 
The Co-Chairmen, acting jointly, may waive this sale restriction in cases of hardship or in case of termi-
nation of employment to the extent permitted by law. As a rule, all restricted shares remain restricted 
until the expiration of the blocking period.
The RSUs granted under the Bonus and RSU Plan are subject to a cliff vesting three years after the date 
of grant, provided that the relevant participant has not given or received notice of termination of their 
employment as set forth below by the vesting date, and has not sold or otherwise transferred the eco­
nomic benefit of or pledged any of the restricted shares allocated to their as part of the equity award. On 
the vesting date, each RSU is automatically converted into one share of Sensirion Holding AG. Sensirion 
may settle the RSUs with newly issued shares out of the Company’s conditional share capital and/or out 
of the Company’s treasury shares and/or with shares purchased in the open market.
In case of termination of the employment of a participant as a result of ordinary retirement 1, disability or 
death, such member’s RSUs vest at the relevant vesting date. In all other cases of termination, all unvested 
RSUs will be forfeited without any compensation. The Co-Chairmen, acting jointly, may provide for excep­
tions to the extent permitted by law.
In the event of the acquisition of 50 % or more of the voting rights of all outstanding shares of Sensirion 
Holding AG, through the acquisition of securities or a merger or consolidation, or the sale of substantially 
all of the Company’s assets to a third party, the Board of Directors may, in its sole discretion, (i) terminate 
unvested RSUs against compensation, (ii) convert, replace or roll over unvested RSUs and, (iii) in the 
event of a conversion, sell the shares resulting from such conversion.
Benefits
Benefits consist mainly of retirement and insurance plans that are designed to provide a reasonable 
level of protection for the employees and their dependents with respect to retirement, risk of disability, 
death and illness or accident. The current members of the Executive Committee are all employed under 
a Swiss employment agreement. They participate in Sensirion’s occupational pension plan offered to all 
employees in Switzerland, whereby the base salary is insured up to the maximum amount permitted 
by law. Sensirion’s pension benefits exceed the legal requirements of the Swiss Federal Act on Occupa­
tional Retirement, Survivors’ and Disability Pension Plans (BVG).
In addition, members of the Executive Committee are eligible for standard benefits, such as a represen­
tation allowance and benefits in kind and, in particular, support when commuting by public transportation.
1 	The details of retirement (in particular early retirement and special cases) will be 
specified by the Executive Committee in accordance with local regulations.

66
Sensirion Annual Report 2024  Compensation Report
Shareholding ownership guideline
Pursuant to the Bonus and RSU Plan, no member of the Executive Committee shall sell or otherwise 
transfer their shares in Sensirion Holding AG if, as a result, the value of their shareholdings in Sensirion 
Holding AG falls below 100 % of their last annual fixed and variable compensation. The value of the 
shareholdings held by an individual member of the Executive Committee is determined by multiplying 
the number of shares (including restricted shares) owned by such member with the market price of 
the shares.
Compensation awarded to members of the Executive Committee
In the financial year 2024, the Executive Committee consisted of six members, with one replacement 
following a resignation (see Corporate Governance Report on page 47 for details). For the financial 
years 2024 and 2023, the compensation of the members of the Executive Committee is set out in the 
tables below. Compared to 2023, the 2024 base salaries of the members of the Executive Committee 
decreased as the role VP Marketing & Sales was vacant for six months. 
The fixed compensation awarded to the members of the Executive Committee for the financial year 2024 
is within the maximum aggregate amount of fixed compensation of CHF 2,400,000 approved by the 
Annual General Meeting 2023.
Fixed compensation for the financial year 
Approved (CHF)
Effective (CHF)
2024 (approved by the AGM 2023) 
2,400,000
1,817,300
AGM: Annual General Meeting
Compensation of the Executive Committee in 2024 (audited)
Compensation Components (in CHF)
Marc von Waldkirch 
(CEO)
Other EC 
(6 members) 2
Total EC
Base salary
 444,184 
 1,090,090 
 1,534,274 
Pension and social security, for base salary
78,611
 189,475 
268,086
Total fixed compensation
 522,795
 1,279,564 
 1,802,360 
Variable bonus (restricted shares and RSUs)1
 65,667 
 94,436 
 160,102 
Social security, for variable bonus
6,830
 8,111 
14,941
Total compensation
 595,292 
 1,382,111 
1,977,403
1 	Variable bonus is based on the average of the share prices over 10 (ten) trading days prior to the date of allocation 
(CHF 56.41) and consists of 50 % restricted shares subject to a blocking period of three years and 50 % RSUs subject to a 
vesting period of three years, and is subject to approval by the Annual General Meeting on 12 May 2025. Following such 
approval, a revised fair value will be determined for accounting purposes only.
2 	In the course of 2024, Dr. Andrea Orzati (VP Marketing & Sales) left Sensirion. Effective as of 1 November 2024, Simon 
Sonderfeld (new VP Marketing & Sales) joined the Executive Committee. Remuneration calculation of newly appointed or 
resigning Executive Committee members is done on a pro rata basis.

67
Compensation Report  Sensirion Annual Report 2024
Compensation of the Executive Committee in 2023 (audited)
Compensation Components (in CHF)
Marc von Waldkirch
(CEO)
Other EC 
(7 members) 2
Total EC
Base salary
 444,184 
 1,341,831 
 1,786,015 
Pension and social security, for base salary
 84,337 
 250,159 
 334,496 
Total fixed compensation
 528,521 
 1,591,991 
 2,120,511 
Variable bonus (restricted shares and RSUs)1
 25,434 
 44,874 
 70,308 
Social security, for variable bonus
 2,035 
 3,590 
 5,625 
Total compensation
 555,989 
 1,640,455 
 2,196,444 
1 	Variable bonus is based on the average of the share prices over 10 (ten) trading days prior to the date of allocation 
(CHF 81.00) and consists of 50 % restricted shares subject to a blocking period of three years and 50% RSUs subject to 
a vesting period of three years, and was approved by the Annual General Meeting on 16 May 2023. Following such 
approval, a revised fair value will be determined for accounting purposes only.
2	 In the course of 2023, Dr. Johannes Bleuel (VP Operations) left Sensirion and Heiko Lambach (VP Human Resources) 
decided to step down as member of the Executive Committee and focus on talent diagnostic and culture development 
across the Sensirion Group. Effective as of 1 November 2023, Rahel Meuwly (new VP Human Resources) joined the 
Executive Committee. Effective as of 1 December 2023, Dr. Franziska Brem (new VP Operations) was appointed as member 
of the Executive Committee. Remuneration calculation of newly appointed or resigning Executive Committee Members 
was done on a pro rata basis.
Loans or credits to members of the Executive Committee (audited)
As of 31 December 2024, there were no outstanding loans or credit facilities between Sensirion and 
current members of the Executive Committee.
Contracts with members of the Executive Committee
All members of the Executive Committee are employed under employment contracts of unlimited dura­
tion that are subject to a notice period of six months. None of the members of the Executive Committee 
is contractually entitled to termination payments or any change of control provisions other than the 
accelerated vesting and unblocking of equity awards as described above.
Former members of the Executive Committee (audited)
In 2024, no compensation was paid to former members of the Executive Committee. As of 31 December 
2024, there were no outstanding loans or credit facilities between Sensirion and former members of the 
Executive Committee.  
Related parties of members of the Executive Committee (audited)
In 2024, no compensation was paid to parties closely related to current or former members of the 
Executive Committee. As of 31 December 2024, there were no outstanding loans or credit facilities 
between Sensirion and parties closely related to current or former members of the Executive Committee.
Employee participation plans
As of 31 December 2024, Sensirion maintains an employee participation plan for its employees in Switzer­
land as well as for employees of Sensirion’s foreign subsidiaries. The Bonus and RSU Plan applies to the 
bonus granted to employees for their performance in the financial year 2024 (the “2024 Bonus”) and to 
any future bonuses. 

68
Sensirion Annual Report 2024  Compensation Report
Bonus and RSU Plan
The purpose of the Bonus and RSU Plan is to provide employees eligible for a bonus with an opportunity 
to participate in the creation of the long-term shareholder value of Sensirion. Sensirion Holding AG and 
its subsidiaries may award a bonus to their employees under the Bonus and RSU Plan, provided that 
such employees have not given or received notice of termination at the time of the award. The Executive 
Committee determines the bonus of the employees in its sole discretion on an annual basis. As a rule, 
the bonus amount shall not exceed 20 % of an employee’s annual fixed salary. The annual funding pool 
for the Bonus and RSU Plan allocated to participants is determined by the Board of Directors in its sole 
discretion upon recommendation of the Nomination and Compensation Committee.
In 2024, Sensirion awarded bonuses to 991 (2023: 1,051) employees who, in accordance with the Bonus 
and RSU Plan, were given the opportunity to choose between payment of their 2024 Bonus either in 
cash (the “Cash Bonus”) or in restricted shares of Sensirion Holding AG subject to a blocking period of 
three years and additional RSUs subject to a vesting period of three years (the “Equity Bonus”). Any 
bonus is subject to the condition that the eligible employee has not been given notice of termination for 
cause by its employer during the election period. If an eligible employee does not notify Sensirion of 
their election during the election period, they receives their 2024 Bonus in the form of a Cash Bonus. 
The election period for the 2024 Bonus ended on 3 January 2025.
For the Equity Bonus, the number of restricted shares is determined by dividing the amount of the Cash 
Bonus by an average price of the shares as quoted on the SIX Swiss Exchange over a period of time 
prior to the date of allocation of the shares as determined by the Company in its sole discretion (in 
2024, 10 (ten) trading days), rounded up to the nearest full number of shares. The number of RSUs to 
be awarded is determined by the Board of Directors in its sole discretion upon recommendation of the 
Nomination and Compensation Committee. In 2024, the RSUs awarded for the 2024 Bonus of all 
employees (other than the members of the Executive Committee) represented 25 % of the value of the 
restricted shares.
For further information, please refer to the description of the Bonus and RSU Plan on pages 63 to 65 of 
this Compensation Report.

69
Compensation Report  Sensirion Annual Report 2024
Shares held by members of the Board of Directors and the Executive Committee (audited)
The members of the Board of Directors and the Executive Committee (including related parties) held the 
following number of shares and RSUs as of 31 December: 
Board of Directors 
2024
2023
Shares
RSUs
Shares
RSUs
Dr. Moritz Lechner, Co-Chairman
 845,743 
–
 854,462 
–
Dr. Felix Mayer, Co-Chairman1
 839,462 
–
854,462
–
Ricarda Demarmels, member
 250 
–
250
–
François Gabella, member, resigned 13 May 2024
n/a
n/a
–
–
Dr. Franz Studer, member
–
–
–
–
Anja König, member
 1,157 
–
 1,157 
–
Henri Mrejen, member, since 13 May 2024
     –
–
      n/a
n/a
Total Board of Directors
 1,686,612
–
 1,710,331 
–
Executive Committee
2024
2023
Shares
RSUs
Shares
RSUs
Dr. Marc von Waldkirch, CEO
 46,802 
 1,118 
 45,784 
 1,032 
Dr. Franziska Brem, VP Operations
 2,218 
255
 1,970 
79 
Matthias Gantner, CFO2
 8,611 
– 
 9,012 
 449 
Rahel Meuwly, VP Human Resources
272
172 
–
– 
Dr. Andrea Orzati, VP Marketing & Sales3
     n/a 
n/a 
 13,473 
 – 
Dr. Johannes Schumm, VP Research & Development
 7,117 
 667 
 6,532 
 606 
Simon Sonderfeld VP Marketing & Sales4
–
–
n/a
n/a
Total Executive Committee
 65,020 
 2,212 
 76,771 
 2,166 
1 Related parties: including shares held by Fondation des Fondateurs, Zürich, Switzerland.
2 Matthias Gantner retired as of 31 December 2024.
3 Dr. Andrea Orzati, VP Marketing & Sales, decided to take on new challenges and left Sensirion effective 30 April 2024.
4 Simon Sonderfeld joined the Executive Committee as VP Marketing & Sales effective as of 1 November 2024. 
Mandates in other enterprises (audited)
The details on the activities of the members of the Board of Directors and the Executive Committee in 
comparable functions at enterprises with an economic purpose other than Sensirion Holding AG or its 
subsidiaries are set forth in the biographies on pages 38-39 and 50-51 of the Corporate Governance 
Report.

70
Sensirion Annual Report 2024  Compensation Report
Auditor’s Report
 
 
Report of the statutory auditor 
To the General Meeting of Sensirion Holding AG, Stäfa 
Report on the Audit of the Remuneration Report 
Opinion 
We have audited the Remuneration Report of Sensirion Holding AG (the Company) for the year ended 2024. The 
audit was limited to the information pursuant to Art. 734a-734f of the Swiss Code of Obligations (CO) in the tables 
marked “audited” on pages 61 to 62 and page 66 to 69 of the Remuneration Report. 
 
In our opinion, the information pursuant to Art. 734a-734f CO in the Remuneration Report complies with Swiss law 
and the Company’s articles of incorporation. 
Basis for Opinion 
We conducted our audit in accordance with Swiss law and Swiss Standards on Auditing (SA-CH). Our responsibili-
ties under those provisions and standards are further described in the “Auditor’s Responsibilities for the Audit of 
the Remuneration Report” section of our report. We are independent of the Company in accordance with the provi-
sions of Swiss law and the requirements of the Swiss audit profession, and we have fulfilled our other ethical re-
sponsibilities in accordance with these requirements. 
 
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opin-
ion. 
Other Information 
The Board of Directors is responsible for the other information. The other information comprises the information 
included in the Annual Report, but does not include the tables marked “audited” in the Remuneration Report, the 
consolidated financial statements, the stand-alone financial statements and our auditor’s reports thereon. 
 
Our opinion on the Remuneration Report does not cover the other information and we do not express any form of 
assurance conclusion thereon. 
 
In connection with our audit of the Remuneration Report, our responsibility is to read the other information and, in 
doing so, consider whether the other information is materially inconsistent with the audited financial information in 
the Remuneration Report or our knowledge obtained in the audit or otherwise appears to be materially misstated. 
 
If, based on the work we have performed, we conclude that there is a material misstatement of this other infor-
mation, we are required to report that fact. We have nothing to report in this regard. 

71
Compensation Report  Sensirion Annual Report 2024
 
 
 
2 
Board of Directors' Responsibilities for the Remuneration Report 
The Board of Directors is responsible for the preparation of a Remuneration Report in accordance with the provi-
sions of Swiss law and the Company’s articles of incorporation, and for such internal control as the Board of Direc-
tors determines is necessary to enable the preparation of a Remuneration Report that is free from material mis-
statement, whether due to fraud or error. The Board of Directors is also responsible for designing the remuneration 
system and defining individual remuneration packages. 
Auditor’s Responsibilities for the Audit of the Remuneration Report 
Our objectives are to obtain reasonable assurance about whether the information pursuant to Art. 734a-734f CO is 
free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our 
opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in ac-
cordance with Swiss law and SA-CH will always detect a material misstatement when it exists. Misstatements can 
arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be 
expected to influence the economic decisions of users taken on the basis of this Remuneration Report. 
 
As part of an audit in accordance with Swiss law and SA-CH, we exercise professional judgement and maintain 
professional skepticism throughout the audit. We also: 
 Identify and assess the risks of material misstatement in the Remuneration Report, whether due to fraud or 
error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is suffi-
cient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement re-
sulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, inten-
tional omissions, misrepresentations, or the override of internal control. 
 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are 
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the 
Company’s internal control. 
 Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates 
and related disclosures made. 
We communicate with the Board of Directors or its relevant committee regarding, among other matters, the 
planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal 
control that we identify during our audit. 
 
 
 

72
Sensirion Annual Report 2024  Compensation Report
 
 
 
3 
We also provide the Board of Directors or its relevant committee with a statement that we have complied with rele-
vant ethical requirements regarding independence, and to communicate with them all relationships and other mat-
ters that may reasonably be thought to bear on our independence, and where applicable, actions taken to elimi-
nate threats or safeguards applied. 
 
KPMG AG 
 
 
 
 
{{Signatureleft}} 
{{Signatureright}} 
Silvan Jurt 
Licensed Audit Expert 
Auditor in Charge 
Keshia Ponato 
Licensed Audit Expert 
 
 
Zurich, 10 March 2025 
 
KPMG AG, Badenerstrasse 172, CH-8036 Zurich 
 
© 2025 KPMG AG, a Swiss corporation, is a group company of KPMG Holding LLP, which is a member of the KPMG global organization of independent firms affiliated with 
KPMG International Limited, a private English company limited by guarantee. All rights reserved. 

73
Sustainability  Sensirion Annual Report 2024
Sustain
ability

74
Sensirion Annual Report 2024  Sustainability
Our business 
Sensirion Holding AG is a joint stock company listed on the SIX Swiss Exchange and headquartered in 
Stäfa, Switzerland. Sensirion further operates 12 offices in China, Germany, Hungary, Japan, Singapore, 
South Korea, Taiwan, the Netherlands and the United States. Sensirion develops and produces sensor 
solutions for measuring environmental parameters, gas flow, liquid flow and machine diagnostics. The 
company enjoys an excellent reputation in its relevant field within the semiconductors industry, deliver­
ing sensor solutions for applications to the automotive, medical, industrial and consumer goods sectors. 
All semiconductor wafers used at Sen­
sirion are developed in-house, specifi­
cally designed for each product family. 
In order to optimize the use of capital 
and increase flexibility, the production 
of these CMOS (complementary metal­
oxide-semiconductor) wafers is out­
sourced to global foundries in Asia and 
Europe. Afterwards, the wafers are 
shipped to Sensirion Switzerland for 
further sensor processing on wafer 
level in our own cleanrooms. The pack­
aging steps and sensor calibration 
steps that follow the clean room pro­
cesses are done on equipment that is 
partially designed by Sensirion’s own 
automation group to meet the specific 
requirements of sensor production. Finally, the end test on component level completes the tight process 
controls and assures that high quality standards are achieved. Depending on the application and 
product, these semiconductor components are either sold directly to the end customers around the 
world or further processed into higher-value integrated sensor modules in our own facilities in Hungary, 
China, South Korea and Switzerland. Sensirion relies on its own sales team, which is organized by market 
and supported by local sales offices in China, USA, Japan, South Korea, Singapore and Taiwan. We also 
work with local distributors to reach relevant customers as well as global catalogue distributors.
Finally, Sensirion’s finished products are shipped through logistics companies that retrieve goods from 
our manufacturing facilities and deliver them directly to customer product assembly lines. We predom­
inantly operate an original equipment manufacturer business (OEM) – in other words, the products we 
make are integrated into our customers’ devices; they are not considered standalone products. Thus, 
the destination of our sensor products is usually another large manufacturing facility that builds our 
sensor products onto a circuit board or directly into the final devices (e.g. a car or an air purifier) and 
then ships them to the end consumers.
 
Key points

75
Sustainability  Sensirion Annual Report 2024
The strategic deep control of the value chain and the close relationship to universities that allows us to 
keep recruiting top talents from engineering are key ingredients for continued success.
Built with values 
Sensirion, a company founded in 1998 as an ETH Zurich spin-off by Moritz Lechner and Felix Mayer, has 
grown to become a global leader in innovation with a unique culture and style that we call the Sensi­
Spirit. At Sensirion, we prioritize the human factor and strive to build long-lasting relationships with our 
customers, prospective employees, shareholders, analysts, suppliers and the general public with both 
curiosity and passion.
The SensiSpirit is based on the following values:
 •	 Fair and honest These are the guiding principles for how we work with all involved
parties here at Sensirion, be it customers, external suppliers and partners, or our employees.
•	 Together We believe that every employee and supplier should actively be involved in 
the constructive journey to find workable solutions. Teams are not opponents; they are partners 
working in concert, where individual goals harmonize with the overall mission. Success is 
	
a collective effort, and we can only succeed together.
•	 Top performance Those who understand the needs of customers and offer innovative solutions 
set themselves apart from the competition. SensiSpirit also means having a competitive 
	
drive – in other words, bringing an entrepreneurial mindset and expertise to the table, thinking 	
	
	
innovatively, sharing responsibility and achieving extraordinary things, day in and day out.
Value chain
ASIC
Idea
MEMS
Packaging
Automation
Manufacturing
module
Package 
component
Supported by 
technical sales and 
field engineering
OEM customer

76
Sensirion Annual Report 2024  Sustainability
1,164
Sensirion Inc. 
(Chicago, United States) 
Sensirion Automotive Solutions Inc. 
(Chicago, United States) 
Sensirion Connected Solutions Inc. 
(Chicago, United States)
North America 
Production
R & D
Sales

77
Sustainability  Sensirion Annual Report 2024
Employees (FTE) 
worldwide 
as of 31 December 2024
Sensirion Holding AG 
Sensirion AG
Sensirion Automotive Solutions AG
(Stäfa, Switzerland)
Sensirion Connected Solutions AG
(Stäfa, Switzerland)*
Sensirion Hungary Kft. 
Sensirion Automotive Solutions Hungary Kft.
(Debrecen, Hungary)
Qmicro B.V. (Enschede, Netherlands)
Sensirion Europe GmbH 
(Gerlingen, Germany)
Sensirion Automotive Solutions Korea Co., Ltd.
(Seoul, South Korea)
Sensirion Automotive Solutions (Shanghai) Co., Ltd. 
(Shanghai, China)
Sensirion Korea Co., Ltd. (Dongan-Gu, South Korea)
Sensirion Japan Co., Ltd. (Tokyo, Japan)
Sensirion Taiwan Co., Ltd. (Taipei City, Taiwan) 
Sensirion Singapore Branch (Singapore) 
Sensirion China Co., Ltd. (Shenzhen, China)
Europe
Asia
* On 9th April 2024, Sensirion announced to discontinue the activities in 
the condition monitoring segment and to close the Berlin site (formerly AiSight).

78
Sensirion Annual Report 2024  Sustainability
Sustainability 
at Sensirion
A holistic 
commitment

79
Sustainability  Sensirion Annual Report 2024
At Sensirion, sustainability drives our business, operations and vision for the 
future. Our commitment encompasses environmental responsibility, sustainable 
growth and social engagement to create lasting value for all stakeholders.
Our innovative sensors play a critical role in enhancing energy efficiency, 
supporting eco-friendly products and helping customers decarbonize their
operations. From automotive systems to methane leakage monitoring, our 
technologies contribute to significant reductions in greenhouse gas emissions. 
Internally, we focus on sustainable production practices that minimize waste, 
improve material efficiency and manage natural resources responsibly. 
Sustainable growth at Sensirion means addressing sensor challenges with 
cutting-edge solutions that deliver clear value to our customers. Our long-term 
customer relationships provide valuable insights that drive our innovation 
pipeline. With a forward-looking mindset, we invest in future technologies that 
will shape product development in the next five years and drive sales within 
the next decade. Stable margins enable us to allocate approximately 19 % of 
sales to Research and Development on average, ensuring continuous 
innovation and value creation.
At the heart of Sensirion’s success are our employees and unique culture. 
We are committed to providing an inspiring work environment that fosters per-
sonal and professional growth. Our award-winning “SensiSpirit” describes a 
unique culture of innovation and entrepreneurship that we expect all employees 
to live by, regardless of their function. Collaboration, fairness, honesty and top 
performance are the foundations of our approach, ensuring every employee 
feels valued and empowered.
Sustainability is not just a goal – it’s how we achieve it. By integrating 
environmental responsibility, social engagement and growth, we are building a 
greener tomorrow while fostering an inclusive, innovative workplace. 
Together, we are shaping a sustainable future.
Marc von Waldkirch, CEO 

80
Sensirion Annual Report 2024  Sustainability
Our commitment 
As a global company, we recognize that our actions impact 
both the environment and society. We are dedicated to opti­
mizing sensor production by conserving natural resources 
and reducing pollutant emissions. Ensuring workplace safety 
is a top priority, and we actively minimize risks and protect 
employee health through proactive measures and robust 
emergency preparedness.
Furthermore, we are steadfast in our commitment to protect­
ing and upholding human rights, both within our organization 
and across our supply chain. We strive to foster an environ­
ment rooted in dignity and respect, ensuring ethical practices 
and a safe, inclusive workplace for all.
Policies and management systems
Sensirion has a Code of Conduct that exceeds the require­
ments of the Responsible Business Alliance (RBA). This Code 
of Conduct is internally trained and published on the intranet. 
The provisions of the RBA Code of Conduct were derived 
for our production facilities in Stäfa, Debrecen, Seoul and 
Shanghai, and these sites were certified in accordance with 
the IATF 16949 standard. Also, customers undergo external 
audits and we require audits of current suppliers. Occupa­
tional health and safety in our facilities are organized, but not 
certified, with regard to the ISO 45001 standard. 
The location Stäfa completed the RBA Validated Assessment 
Program in 2023 valid until 2025, achieving SILVER Status 
without any priority findings. Additionally, the Sensirion Code 
of Conduct training is mandatory for all employees globally 
except management and the Board Directors, who are trained 
individually. This training covers Labor Rights, Environment, 
Occupational Health & Safety, Ethics (including sourcing of 
conflict minerals to protect human rights) and Management 
System topics.
Stakeholder engagement
Engaging in active dialogue with our stakeholders is essen­
tial for effectively managing our impact on sustainable devel­
opment. To provide a clear overview, we have outlined our 
regular communication channels with stakeholders in the 
following table.
Our policies
•	 Management manual
•	 Responsible Business Alliance Code of Conduct
•	 Internal Code of Conduct including military goods and 
	
conflict of interest
•	 Articles of Association and Organizational Regulations
•	 Corporate values
•	 Organizational chart and structure of the company
•	 IT policy
•	 Trading policy (relates to trading in Sensirion shares)
•	 Management principles
•	 Responsible mineral sourcing policy
•	 Anti-corruption policy
Memberships
•	 Zurich Chamber of Commerce 
•	 Swiss-American Chamber of Commerce

81
Sustainability  Sensirion Annual Report 2024
Key stakeholders 	
Engagement methods 
Customers	
·	 Local on-site technical support through 
designated field application engineers (FAE) 
	
	
·	 Online feedback surveys on general satisfaction 
level with Sensirion (Echonovum)
	
	
·	 Regular interactions with key customers and 
Sensirion’s executive managers
	
	
·	 Annual partnership event with global distribution 
and channel partners to provide training and 
strategic alignment

Employees 	
·	 Culture workshops in several locations to engage 
employees on Sensirion’s unique way of working 
together 
	
	
·	 Annual and semi-annual performance and well-being 
reviews for all employees
	
	
·	 Frequent social events to foster Sensirion culture
	
	
·	 Annual international sales meeting where all sales 
employees from all of our subsidiaries are invited to 
the HQ for one week of training and engagement  
	
	
·	 SensiWeekend where all employees spend two days 
together in mixed groups for team building and fun
	
	
·	 We hold town hall meetings every two weeks for 
employees in Stäfa – sometimes internationally – 
to foster an open and transparent communication 
policy
Shareholders	
·	 We regularly attend investor meetings, calls, 
conferences and roadshows 
	
	
·	 We publish an Annual Report (including a Com-
pensation Report) and an Interim Report
	
	
·	 The company biannually organizes a meeting 
for media and financial analysts and holds 
an Annual General Meeting every year
Suppliers	
·	 Initial contact within the scope of the assessment 
procedure and implementation of the Code of 
Conduct 
	
	
·	 Regular performance monitoring (two times per 
year for all category 1 suppliers)
	
	
·	 Approximately 5 % of the supplier base is audited 
each year
Engagement priorities
·	Our high-quality product offering and efficient 
delivery
·	Trust and long-term partnerships






·	Remuneration
·	Company strategy
·	Education, and further training events
·	Occupational health and safety
·	Employees are offered transparency about 
the company’s goals, vision and important 
topics






·	Financial information including shareholder 
returns, management structure, economic 
development, strategy, remuneration system, 
new products and economic outlook


· 	Order volume
· 	Risk assessment and mitigation
· 	Price and contract negotiations
· 	Sustainable and long term technological 
and commercial roadmap

82
Sensirion Annual Report 2024  Sustainability
Material topics
Materiality process
In 2022, we carried out a materiality assessment to identify 
the sustainability topics most relevant to our business and 
stakeholders. In 2024, we revisited these material topics 
and their associated impacts, confirming that no updates 
were necessary. To ensure alignment with regulatory 
requirements and reporting standards, we applied the 
concept of “double materiality”.
This approach analyzes the potential impact Sensirion’s 
business activities could have on the economy, society and 
environment, while also investigating how these topics 
could impact the company’s activities and long-term busi­
ness success.
To evaluate our material topics, we began by reviewing our 
existing materiality matrix, conducting a peer analysis and 
referencing common reporting standards. This process 
led to the identification of 21 potentially relevant topics, 
which were evaluated by senior leaders from various busi­
ness departments during a dedicated workshop.
These senior leaders, including the Director of Marketing 
and Communications, the Director of Investor Relations 
and Business Development, and the Manager for Corpo­
rate Projects, assessed each topic based on its impact on 
society, the environment, and the economy, as well as its 
significance for Sensirion's long-term business success.
The insights gathered from this evaluation were used to 
develop the materiality matrix. This matrix was subse­
quently validated by Sensirion’s CEO and executive man­
agement team. Finally, the results were shared with the 
Board of Directors for their review.
Our materiality matrix
The accompanying graph shows our materiality matrix. 
As a first step, we are focusing on the material topics 
(blue point ), which will be reported on in this Sustain-
ability Report in accordance with the GRI standards. The 
topics below the threshold are not material but will also 
be closely monitored.
Local communities were not identified as a material topic in 
our assessment; however, we recognize their importance 
and remain committed to supporting them. This commit­
ment is evident through initiatives such as our research 
collaboration with ETH Zurich and the development of 
products that can contribute positively to society. In 
addition, we proudly sponsor various ETH Zurich-affiliated 
activities and consider local sponsorship requests when­
ever feasible. 
Although this report does not emphasize local communi­
ties, we remain committed to meaningful engagement and 
supporting projects that create a positive impact where 
possible. We also maintain regular communication with 
local authorities in Stäfa and Debrecen, including munici­
pal and cantonal government entities, ensuring alignment 
and fostering strong relationships with the communities 
where we operate.
Besides others, occupational health and safety is a critical 
area we address alongside our material topics. While 
employee health and safety is a fundamental priority for 
any production company, at Sensirion, we place particular 
emphasis on fostering a safe and supportive workplace 
environment with specificities of our industry in mind. Our 
management approach on occupational health and safety 
is reported on page 118.

83
Sustainability  Sensirion Annual Report 2024
Impact relevance
relevant
very relevant
Business relevance
relevant
very relevant
Compliance and
governance
Employee development 
and training
Diversity, equality and
inclusion
Product quality 
and safety
Sustainable production
Substances of concern
Fair marketing and labeling
Occupational health 
and safety
Waste 
and recycling
Other (non-GHG) emissions
Sustainable supply chain 
management
Company culture 
and employee satisfaction
Innovation
Energy use
Climate
protection
Water and wastewater
Growth
Sustainable products 
and services
Freedom 
of association
Data protection 
and information security
Public policy
Economic value creation
Corporate environmental and climate protection
Our employees
Ethical business conduct
Materiality matrix

84
Sensirion Annual Report 2024  Sustainability
Improving lives and benefiting society 
through our products
Sensirion’s product range includes gas and liquid flow 
sensors, differential pressure sensors, and environmental 
sensors for the measurement of humidity and tempera­
ture, volatile organic compounds (VOCs), carbon dioxide 
(CO2) and particulate matter (PM2.5). These products 
used in automotive, medical, industrial and consumer 
applications can promote safer environments, health, com- 
fort and well-being, and can support improved indoor envi­
ronment and air quality. (SDG 3)
In urban environments, Sensirion’s HVAC solutions and smart gas meters can contribute to more sustainable energy 
use, optimizing heating, ventilation and air conditioning systems, thus helping cities adapt to climate change through 
energy-efficient technologies. (SDG 11)
Sensirion’s gas leakage sensor such as Nubo Sphere combine state-of-the-art sensor technology with advanced analytics 
and comprehensive software to enable oil and gas producers to reliably manage and lower their emissions (methane) and 
reduce the carbon footprint of their own operations. Additionally, Sensirion’s range of environmental sensors for the 
measurement of humidity, temperature and carbon dioxide (CO2) play an integral part in the climate control of a car. 
These sensors work together to ensure the temperature remains at the level set by the driver and manage the energy 
consumption and hence the energy efficiency of modern cars. (SDG 13)
Contribution to the UN Sustainable 
Development Goals
At Sensirion, we aim to contribute to 
the United Nations Sustainable 
Development Goals (SDGs) through 
providing innovative sensor solutions as 
well as conducting our business 
in an environmentally and socially 
responsible manner.

85
Sustainability  Sensirion Annual Report 2024
Environmentally and socially sustainable 
business practices 
Integrating sustainability across our operations ensures 
environmentally and socially responsible business prac­
tices. We are committed to increasing energy efficiency
and renewable energy use, aiming to derive electricity 
from solar cells and clean sources at all production sites 
by 2025. (SDG 7)
From a social perspective, we foster an inclusive, rewarding 
and diverse workplace underpinned by our unique culture 
of innovation and values known as SensiSpirit. Employees 
benefit from targeted training, well-being initiatives, and 
EHS programs to ensure safety and satisfaction. We are 
also committed to responsible sourcing, ensuring ethical 
practices across our supply chain, with 100 % of key suppli­
ers adhering to the Responsible Business Alliance. (SDG 8)
Innovation remains at the core of Sensirion’s strategy, with 19 % of annual revenue invested in research and development. 
(SDG 9)
We adopt a holistic approach to reduce waste generation and ensure the environmentally sound management of chemicals 
and waste throughout their life cycle, especially focusing on wastewater and water management. In addition, we explore 
alternative, environmentally friendly materials and improve processes. (SDG 12)
Since 2023, all global production sites have been powered by 100 % renewable electricity. Manufacturing sites in Stäfa (CH) 
and Debrecen (HU) use fossil-free cooling and heating recovery systems, and we are evaluating a project for district 
heating and lake water cooling for the Stäfa office building. Focused on tackling the challenges of reducing process gas 
emissions, we conduct studies and explore alternative filtration technologies, less harmful gases and improved tools while 
committing to carbon removal projects and decarbonization technologies as of 2025. (SDG 13)

86
Sensirion Annual Report 2024  Sustainability
Growth
Sustainable growth
Sensirion measures success through annual revenue and 
profitability, which reflect the strength of our business. 
Over the past 17 years, we have proudly achieved a com­
pound annual growth rate (CAGR) of over 15 %. Looking 
ahead, we aim to maintain a mid-term growth rate of 
10-15 %, supported by our leadership in both market share 
and technology.
Our “top five” strategy focuses on becoming the preferred 
single-source supplier to the top five customers in each 
of our market segments. This approach, combined with 
cutting-edge innovation, advanced technology and our 
commitment to research and development, strengthens 
our position as an industry leader.
By prioritizing a customer-centric approach and providing 
high-quality technical advice throughout the product life 
cycle, we cultivate loyal and long-lasting relationships. 
This results in good visibility across the markets and solid 
inputs for our innovation pipeline.
Guided by a growth mindset and a long-term perspective, 
we remain fully committed to executing our growth strat­
egy. Our Sales Directors conduct biannual growth strategy 
sessions, updating Sensirion’s management team, CEO 
and founders on market-specific growth, sales and inno- 
vation pipelines. Additionally, the management team over­
sees biannual review meetings for all business units, 
evaluating their longer-term growth roadmaps. We firmly 
believe that sustainable growth is achievable only when 
accompanied by financial stability.
At Sensirion, we create economic value through innovation, responsible 
supply chain management and sustainable growth. By meeting our 
growth objectives, maintaining profitability and achieving capital efficiency, 
we ensure financial stability and generate value for all stakeholders.
Economic value creation
We have established several key performance indicators 
(KPIs) to monitor and drive performance across the 
company. While our Board and executive management 
focus on financial targets such as top-line development, 
gross margin, EBITDA, capex and cash flow, employee sat­
isfaction is equally integral to our success. We measure 
this through a global employee survey, emphasizing the 
importance of collaboration and ensuring every employee 
feels valued and informed (see page 109, Pulse Survey).
Key performance indicators and progress in 2024
The full year 2024 closes with sales of CHF 276.5 million, 
which corresponds to strong, broad-based organic sales 
growth of 22.1 % in local currencies and 18.6 % in Swiss 
francs. The financial performance is described in more 
detail in the Consolidated Financial Statements on pages 
144 to 147 of the Annual Report.
Furthermore, we hosted our second Capital Market Day 
this year, welcoming over 50 investors to our headquarters 
in Stäfa and via video conference. Together, we explored 
the next steps in Sensirion’s growth strategy and medium- 
term outlook, focusing on key priorities:
•	 Drive and expand our strong market position in our core	
	
markets of environmental and flow sensing. Go beyond
	
our core to foster additional growth opportunities in 
	
adjacent market fields like leakage sensors, methane
	
emissions monitoring and medical breath analysis.
•	 Lay the technological foundation for long-term growth.
	
Foster innovation and entrepreneurship through our
	
award-winning corporate culture.

87
Sustainability  Sensirion Annual Report 2024
SCD40 Sensirion’s second generation of optical CO₂ sensors

88
Sensirion Annual Report 2024  Sustainability
Innovation
Innovation and R&D are at the heart of Sensirion’s ability to deliver 
breakthrough technologies that create both economic and environmental 
value. Guided by customer feedback and the latest advancements, 
we develop high-tech solutions that address real-world challenges 
and add tangible value. While our R&D team leads innovation, we also 
have a dedicated business development team. One of our founders, 
as Co-Chairman, actively identifies long-term innovation opportunities, 
driving our commitment to innovation with an entrepreneurial, 
people-centric mindset.
Impacts, risks and opportunities
Our innovations can help to protect the climate (energy 
efficiency and prevention of climate-damaging gases), 
increase health and optimize daily life. Our long-term focus 
in this area can impact the competitive landscape of 
our industry, contributing to our competitive advantage, 
helping to secure jobs at our sites in Switzerland and inter­
nationally, and increasing Sensirion’s sales, market share 
and profitability. By innovatively solving relevant problems, 
we contribute to creating a smarter, better world and 
also enable our customers to develop their own innovative 
solutions.
However, we recognize that misalignment in Research & 
Development could result in products that fail to meet cus­
tomer needs or market demands. Such outcomes could 
lead to inefficient asset allocation, potentially weakening 
our market position. As such, we remain focused on align­
ing our innovation efforts with customer expectations and 
market trends, while also following the megatrends.
Dedication and long-term thinking
Innovation is a cornerstone of our strategic vision, and we 
approach it with an intrinsic commitment to exploration, 
recognizing that calculated risks are inherent in the pursuit 
of groundbreaking solutions. Our innovation philosophy 
embraces a culture of fearlessness in the face of failure, 
but always within the bounds of reason and prudence. 
Maintaining a reasonable and balanced approach is key. 
Realistic expectations, proactive risk management and a 
culture that embraces learning from failures contribute 
to a more resilient and sustainable innovation ecosystem. 
We are committed to allocating around 19 % of our group 
revenue towards Research and Development (R&D). When- 
ever possible, our products are based on internally 
designed, proprietary technologies. Nearly 50 % of our 
annual R&D budget is invested in next-generation programs 
for existing product lines, with the remaining funds allo­
cated to developing entirely new sensor solutions. Our 
R&D team screens and evaluates new disruptive technolo­
gies while collaborating closely with product management 
and sales to continually learn from customer feedback.
Identifying the right ideas for our innovation is embedded 
into a structured process and takes either of the following 
two approaches: 
•	 Firstly, we emphasize direct engagement with our exist-	
	
ing customers such that we identify unsolved and rele-
	
vant sensor problems. If identified, a small joint team of 
	
R&D and sales work closely together to develop inno-
	
vative solutions in a scrum-like, agile process called 
	
“Thesensprint”. 
•	 Secondly, we closely review today’s challenges and 
	
megatrends, such as health, aging society, energy effi-
	
ciency and climate change. This effort is spearheaded 
	
by our internal “Sensor Innovation” group.

89
Sustainability  Sensirion Annual Report 2024
Both approaches share a strong focus on delivering tangi­
ble results. The incorporation of early prototypes at spe­
cific milestones is a crucial element of our well-defined 
process, allowing us to collect valuable market feedback. 
Ultimately, this customer feedback plays a pivotal role in 
determining whether an innovative idea progresses to actual 
product development. Sensirion’s proven innovation capa­
bilities have earned us multiple awards from customers, 
recognizing our outstanding supplier performance.
Key performance indicators and progress in 2024 
Our focus continues with the development of a new line of 
gas leakage sensors tailored specifically for air condition­
ing units in the US market. This A2L initiative is closely 
aligned with regulations requiring the adoption of a new 
class of environmentally friendly coolants. While these 
coolants offer significant environmental benefits, their 
higher flammability risk has created an opportunity for 
Sensirion to deliver innovative solutions to enhance safety 
and reliability in this evolving market.
The A2L campaign remains a key priority and has demon­
strated consistent progress. We are actively engaged in 
numerous projects with various customers, reflecting 
strong market interest and collaboration. Several prod­
ucts are in the ramp-up phase, during which we establish 
and scale the necessary production capacity to ensure 
timely delivery of sensors and modules for all customer 
projects.
of annual revenue 
is invested in research 
and development 
19 %
Additionally, we are expanding our efforts to address low- 
GWP refrigerants, including R290 propane, reinforcing our 
commitment to developing solutions that meet both envi­
ronmental and safety standards while driving innovation 
for leak detection solutions in all markets.
We have also made substantial progress in advancing 
our environmental sensor technologies. Several innovative 
solutions are now in the ramp-up phase, including our 
new miniature CO2 sensors. These developments repre­
sent a significant milestone in our commitment to meeting 
diverse environmental sensing requirements. Our efforts 
also include the next generation of particulate matter. 
By utilizing advanced chip-level integration, we have 
achieved meaningful advancements in miniaturization, 
further enhancing the performance and usability of these 
product families. 
These developments reinforce our dedication to driving 
innovation and maintaining a leadership position in envi­
ronmental sensing solutions.

90
Sensirion Annual Report 2024  Sustainability
Impacts, risks and opportunities
The deployment of Sensirion’s sensors has the potential 
to create significant positive impacts by contributing to 
energy efficiency, reducing carbon emissions and enhanc­
ing the health and safety of end consumers. 
However, there are risks associated with defective or unre­
liable products, which could negatively affect the safety 
and well-being of customers, particularly in critical applica­
tions. This risk is heightened in cases where sensors serve 
security functions, such as in medical devices.
Sensirion’s production is also sensitive to evolving regu-
lations affecting product properties, processes, material 
usage (e.g. per- and polyfluoroalkyl substances, or PFAS) 
and increased transparency requirements. These regula­
tory changes could impact our operations and supply 
chain, including potential challenges in sourcing specific 
materials. Such disruptions might also influence customer 
purchasing behavior, posing a risk to market share.
Emerging technologies and products, such as optimized 
climate control systems and advanced leakage detection 
for refrigerants and other gases, present significant oppor­
tunities for growth and innovation. However, investments in 
technologies nearing obsolescence, such as those reliant 
on fossil fuel consumption, carry the risk of being unsus­
tainable over the long term.
Managing the impact of our sensors 
We are dedicated to an ongoing journey of sustainability, 
consistently working to improve the sustainability profile 
of our products and services. Utilizing technological 
advancements, stakeholder feedback and industry best 
practices, we iteratively enhance our offerings. Our defi-
nition of market success extends beyond individual trans-
actions; we aim for substantial market coverage. We con­
sider a product or service successful when it significantly 
contributes to meeting the needs of a considerable portion 
of the market.
Sustainable 
products and 
services
At Sensirion, we are committed 
to developing solutions that 
contribute to the well-being, health 
and comfort of end consumers. 
Our products prioritize safety in 
both use and manufacturing while 
promoting energy efficiency in 
the final applications. 
We are firmly guided by ethical 
principles, avoiding direct supply to 
the military or tobacco industries. 
Additionally, we ensure that 
raw materials are sourced respon­
sibly and in full compliance with 
regulations. 

91
Sustainability  Sensirion Annual Report 2024
As a responsible corporate entity, we systematically evaluate the effects of our products and services 
across different dimensions, encompassing both environmental and societal considerations. For 
instance, in the case of our methane leakage monitoring service designed to identify methane leaks at 
oil and gas exploration sites, we assess the constructive impact of our innovative products in mitigating 
methane emissions. Furthermore, we support the oil and gas industry in minimizing methane emissions 
and benefiting from savings realized through the prompt detection of leaks.
Since 2023, we have aligned some of our environmental sensors with RESET and WELL building stan­
dards, which certify and monitor commercial buildings for employee-friendly and health-conscious 
environments. These standards focus on indoor air quality, lighting and noise conditions, enabling our 
customers to deliver solutions that comply with these frameworks. Additionally, Sensirion serves on the 
WELL Air Concept Advisory Board, ensuring the latest sensor technologies are integrated into advanc­
ing indoor air quality standards.
At Sensirion, delivering flawless products is a fundamental goal, guided by our dedicated quality man­
agement policy. Our mission is to achieve complete customer satisfaction while continuously improving 
the quality of our products and services. To this end, we implement and maintain efficient processes and 
tools that support a zero-defect approach.
The quality of our products and services is systematically and regularly monitored, assessed and 
reviewed to drive continuous improvement. Customer satisfaction is similarly evaluated on an ongoing 
basis to ensure we meet and exceed expectations. In parallel, we perform detailed evaluations and 
systematic reviews of our key suppliers to secure a reliable foundation for all Sensirion products. A key 
element of our quality strategy is providing ongoing training for our employees, creating an environment 
that supports the achievement of our quality objectives.
To ensure effective management and continuous improvement of customer satisfaction, division man­
agers conduct quarterly KPI reviews focusing on key metrics such as error rates, associated costs, 
complaint volume, processing times and the effectiveness of underlying processes.
Target values are established for both error rates and processing times. If these targets are not met, 
divisional management identifies and implements remedial or improvement measures to address the 
issues. This systematic review process not only ensures accountability but also drives continuous 
improvement, enabling us to refine our processes and enhance overall customer satisfaction.

92
Sensirion Annual Report 2024  Sustainability
Key performance indicators and progress in 2024
In 2023, we established a dedicated PFAS management team to oversee reduction and elimination efforts 
across our operations and supply chain. While some Sensirion products currently still contain PFAS or 
use them in production, we are actively pursuing viable alternatives despite the complexity of replace­
ment. R&D efforts in 2024 are ongoing, supported by allocated resources and budgets, as part of our clear 
strategy to phase out PFAS materials.
We also conduct systematic assessments of our suppliers, examining whether the materials used in our 
sensors contain PFAS. If they do, we actively explore and evaluate alternative materials to ensure com­
pliance with regulations and environmental responsibility.
Building upon our strong foundation in flow sensing technology and our expertise in gas sensing, we 
have also made advanced medical solutions one of our key focus topics in 2024. By combining technol­
ogies, we are creating innovative products that enhance treatment safety and efficiency and ultimately 
patient outcome. Selected areas include smart resuscitation and respiratory exchange rate monitoring, 
where precise flow and gas concentration measurements are critical. Leveraging our deep understanding 
of medical applications and our strong partnerships with leading healthcare manufacturers, we are con­
fident in our ability to deliver solutions that can positively impact patient outcomes.
The following graph illustrates the major materials usage of Sensirion’s business operations in 2024.
Major materials usage in 2024* 
(in tons)
Paper
Plastics
Chemicals*
Gases
Metals
Electronic assemblies
33
57
91
4
192
79
* 	The distribution of materials usage depends highly on the distribution of products produced in the current year. 
	 Data includes direct and indirect materials from production. Restatement: For 2023, the share of chemicals 
	 was overreported (251 t instead of 52 t). The 2023 materials category “Glue and grout” has newly been integrated 
	 into “Chemicals”.

93
Sustainability  Sensirion Annual Report 2024
Impacts, risks and opportunities
Sensirion’s business model has a significant impact on people and the environment in the upstream 
supply chain. For Sensirion, sustainable supply chain management therefore includes environmental pro­
tection and respect for human rights, in particular the prevention of child labor.
Sustainable supply chain management can positively impact the suppliers themselves, strengthening 
them economically through close cooperation and promotion of fair business practices while optimizing 
resource use. It can lead to reductions in energy consumption and emissions and prevent negative envi­
ronmental effects in the supply chain. The goal of Sensirion’s framework for human rights compliance, 
prevention of child labor and sourcing of conflict materials is to avoid negative impacts on society and 
establish safe working conditions in the entire supply chain.
Failures to comply with sustainable procurement practices might lead to a loss of reputation due to vio­
lations of human rights, conflict materials’ regulations, social or environmental criteria. An example for 
regulatory changes that might affect environmental aspects in the supply chain is further regulation on 
PFAS. In the case of environmental or social violations in the supply chain, we might face the risk of losing 
suppliers, which may lead to reduced planning security, supply chain disruptions and increased costs 
of supplier management. Further risks comprise legal consequences, risk of fines and loss of market 
access.
Management of conflict minerals and human rights including child labor
Sensirion’s commitment to ethical sourcing and human rights is reflected in its Code of Conduct, which 
addresses issues such as conflict minerals, metals, and child labor. In compliance with Article 964j of the 
Swiss Code of Obligations (CO), we have assessed our purchase of conflict minerals and confirmed that 
we do not exceed the threshold value. Additionally, most of Sensirion’s suppliers adhere to the RBA 
(Responsible Business Alliance) Code of Conduct. Sensirion also maintains an official Responsible Min-
erals Sourcing Policy, which is publicly accessible on our website. To ensure compliance, all employees 
are required to complete Code of Conduct training.
Sustainable supply chain 
management
At Sensirion, we recognize that sustainability is essential for 
building resilient supply chains in the face of climate change, global 
supply chain disruptions and ongoing geopolitical tensions. Ensuring 
resilience while upholding human rights across our supply chain is 
a core priority. To address these challenges, we are responding 
with a comprehensive strategy that emphasizes stability, account-
ability and responsible practices.

94
Sensirion Annual Report 2024  Sustainability
Furthermore, Sensirion ensures that its products or services are not reasonably suspected of being manu­
factured or provided using child labor. We have performed an assessment comparing our transactions over 
the past six years with the UNICEF Children’s Rights in the Workplace Index. Based on the results, Sensirion 
concludes that the company is not subject to due diligence and reporting obligations on child labor.
The topics of child labor as well as conflict minerals and metals are ultimately handled by the supply chain 
department. For further information on the conflict mineral policy or the conflict mineral report, refer 
to our website.
As part of regular audits of Sensirion’s key suppliers, our suppliers are questioned on conflict mineral and 
human rights (including child labor) processes as well as the compliance with RBA. Further, Sensirion 
tracks and identifies suppliers who work with conflict minerals.
Finally, as part of the onboarding process, new production material suppliers are obligated to sign the 
Supplier Commitment on Corporate Social Responsibility, containing specific clauses on child labor.
New suppliers are audited by Sensirion during onboarding. All new suppliers must sign the RBA Code of 
Conduct that specifies the requirements on human rights, conflict minerals and metals. Furthermore, 
each affected supplier is required to provide a completed Conflict Minerals Reporting Template (CMRT) 
where it commits to becoming conflict-free and documenting countries of origin for the tin, tantalum, 
tungsten and gold that it purchases.
To address concerns from external stakeholders about our suppliers, Sensirion provides an ethical 
complaint form on our website. To ensure the effectiveness of this process, our EHS manager conducts 
an annual internal review to verify that submitted reports are directed to the appropriate recipient.
Active supplier engagement 
Sensirion’s supply chain strategy prioritizes building and maintaining a robust local and regional supply 
base, aimed at reducing risks associated with global tensions and potential disruptions. Following the 
OECD Due Diligence Guidance for Responsible Mineral Sourcing, we are committed to ensuring that 
minerals used in our products do not finance or benefit armed groups in conflict-affected or high-risk 
areas. We extend these expectations to our suppliers and encourage them to uphold these standards 
in their own supply chains.
We integrate sustainability principles into our assessment process for new suppliers, giving preference 
to those with well-defined sustainability objectives. 
The establishment of environmental key performance indicators (KPIs) for our suppliers is still in its early 
stages; however, compliance with RBA standards is mandatory for all production-related suppliers. 
Additionally, our supplier quality team has integrated social and environmental considerations into the 
supplier audit process, which also evaluates adherence to our Code of Conduct.

95
Sustainability  Sensirion Annual Report 2024
Key performance indicators and progress in 2024 
In 2023, we explored the possibility of incorporating recycled sea plastic into some of our future prod­
ucts. However, despite these efforts, the requested standard for implementation could not be achieved 
at this stage. This remains an area of focus, and we are committed to continuing our work toward viable 
solutions. During 2023, we surveyed our direct tier 1 suppliers regarding their compliance with the 
Uyghur Forced Labor Prevention Act (UFLPA) of the US law, and received no responses indicating 
non-compliance. While this specific review has been concluded, Sensirion remains committed to 
upholding ethical standards and will take appropriate actions if deemed necessary to ensure compli­
ance with applicable laws and the protection of human rights.
As outlined during our Capital Market Day, Sensirion will focus on Scope 3 activities once we have 
achieved our Scope 1 and 2 goals. Sensirion has also conducted a high-level analysis of its top tier sup­
pliers, covering approximately 50 % of its purchasing volume, with a focus on CO2 emissions and CO2 
reduction strategies. While the analysis results have not yet been integrated into supplier engagement, 
this approach is being considered for future evaluation and implementation. Among Sensirion’s sup-
pliers accounting for the top 90 % of total purchasing revenue, we have successfully elevated the per­
centage of those who have committed to the Responsible Business Alliance (RBA) to 100 %. In 2023, we 
achieved a score of 166 out of 200 points in the RBA Validated Assessment Program for our Stäfa site, 
with the certification remaining valid until November 2025. The result is disclosed on our website.
As of this report’s publication, no human rights violations including child labor in our supply chain have 
been reported to us.
Sensirion has 
elevated the proportion of 
key suppliers committed 
to the Responsible Business 
Alliance (RBA) to
100 %

96
Sensirion Annual Report 2024  Sustainability
Sustainability is integral to Sensirion’s ethos. As innovative pioneers, 
we keep an eye on resource conservation, energy efficiency and climate 
protection in our processes. Recognizing its importance to both em-
ployees and customers, building a sustainable Sensirion is paramount 
for our resilience and success. 
Sensirion effectively upheld external ISO14001 certifications for its pro­
duction facilities in Stäfa, Debrecen, Seoul and Shanghai.
Climate protection
At Sensirion, greenhouse gas (GHG) emissions arise across various 
stages of our value chain. To contribute to global warming mitigation, 
we are actively working within our climate roadmap to reduce both 
direct emissions (Scope 1) and those related to energy use (Scope 2), 
while also starting to evaluate concepts for supplier engagement to 
address emissions across the value chain (Scope 3). We are monitoring 
and reporting on our progress over the years.
Corporate environmental 
and climate protection

97
Sustainability  Sensirion Annual Report 2024
In alignment with our strong commitment to sustainability, 
our ambitious roadmap focuses on preventing, reducing 
and optimizing our CO2 footprint throughout our major 
global sites. Since 2023, we have derived electricity from 
our own solar cells and clean sources at our major global 
locations. This comprehensive initiative reflects our dedica­
tion to minimizing the environmental impact of our activi­
ties. It’s important to note that while we strive for positive 
outcomes in various aspects of our operations, process 
gases, which are essential in our MEMS manufacturing 
process, remain an exception. For these emissions that 
cannot be eliminated, we plan to finance specific projects 
for permanent removal and storage of carbon from the 
atmosphere starting in 2025.
To understand our Scope 3 emissions, we concluded a 
comprehensive analysis of our footprint in 2023. This 
analysis showed that the procurement of materials for pro­
duction is the most significant contributor to Sensirion’s 
emissions. Once Sensirion has achieved its planned activi­
ties to reduce Scope 1 and 2 emissions, the company will 
shift its focus to Scope 3 activities.  
Impacts, risks and opportunities
Our sensors play an important role in numerous applica­
tions in the reduction of GHG emissions as well as energy 
savings, such as in automobiles, in the optimization of buil- 
ding ventilation systems or in the monitoring of methane 
emissions in the oil and gas industry.
Greenhouse gas emissions contribute to climate change, 
posing risks such as supply chain interruptions in Asia due 
to extreme weather events, while potentially also driving 
demand for Sensirion’s products like sensors for coolants 
and air conditioning systems. Additional risks include reg­
ulatory challenges such as CO₂ taxation, alongside oppor­
tunities linked to climate change adaptation and mitigation 
(see Climate Report pages 124 to 132).
Scope 1 and Scope 2
Since 2022, we have been working on the implementation 
of an ambitious roadmap to decarbonize our Scope 1 and 2 
emissions. While we have implemented advanced fossil- 
free cooling and heat recovery systems at our manufac-
turing sites in Stäfa, Switzerland, and Debrecen, Hungary, 
some emissions persist in specific areas:
•	 The production of MEMS sensors remains a significant 	
	
source of emissions, particularly due to the use of 	
	
	
gases such as sulfur hexafluoride (SF6).
•	 The buildings in Enschede and Stäfa still rely on fossil- 
	
fuel heating, contributing to our Scope 1 emissions. 	 	
	
Emissions from company-owned vehicles (mobile com-
 	 bustion) are minimal, accounting for only about 1 % of 	
	
our total Scope 1 and Scope 2 emissions.
As outlined in the table, process gases – particularly SF6, 
which is vital to our MEMS manufacturing process – 
account for 82 % of our total Scope 1 and 2 emissions. SF6 
is primarily utilized for deep reactive ion etching of silicon 
in our process reactors, a well-established and widely used 
process in the semiconductor and MEMS industry. To our 
knowledge, no alternative exists on the market for etching 
vertical holes with well-defined structure sizes in a bulk 
silicon wafer.
In our commitment to continuous improvement, all our 
equipment undergoes regular maintenance, including leak 
measurements and functionality checks. Our state-of-the-
art waste gas abatement system ensures the effective 
cleaning of all waste gases from our processes, achieving 
an absorption rate of 95-99 % (depending on the gas type) 
for climate-damaging process gas emissions. 
We actively explore alternative, less harmful chemical gases 
and investigate different production tools, maintaining com­
munication with tool manufacturers to stay informed about 
new advancements in more efficient processes and waste 
gas treatment systems.

98
Sensirion Annual Report 2024  Sustainability
In 2022, we established the outlined medium-term CO2 
reduction roadmap including the following steps to be 
taken:
For Scope 1, our priorities are:
•	 Replace the remaining fossil-based heating system 
	
in Stäfa, including piloting a concept regarding district 	
	
heating coupled with lake cooling. In the strategic 	
	
	
planning of the new production facility in Stäfa, careful 	
	
consideration was also given to the assessment of 	
	
	
the duplicated cooling and heating supply, factoring it	
 	 into the overall evaluation
•	 Minimize climate-relevant process gases and optimize 	
	
absorption so they do not enter the atmosphere
For Scope 2, our priorities are:
•	 Systematically reduce electricity consumption with 	 	
	
organizational and technical measures
•	 Install further photovoltaic systems on the roofs of all 	
	
our production sites
•	 Incorporate renewable energy sources for our 
	
electricity needs at every facility (hydro-based or 	
	
	
wind-based, depending on the country)
•	 Awareness campaign: promote energy-saving 
	
behavior among our employees, from powering down 
	
electronic devices to turning off lights and projectors 	
	
after meetings
Scope 3
The majority of emissions in Sensirion’s greenhouse gas 
(GHG) inventory fall under Scope 3, occurring throughout 
our value chain. The procurement of goods and services is 
the largest contributor, primarily driven by the emissions 
intensity of the materials and components sourced for 
production, many of which involve complex and energy-
intensive manufacturing processes.
The use of sold products is Sensirion’s second-largest 
source of Scope 3 emissions, largely stemming from the 
energy consumption associated with our products, partic­
ularly within the automotive sector. These emissions occur 
post-sale as our sensors are integrated into final products. 
The most significant opportunity for decarbonization lies 
in engaging with our suppliers to reduce their emissions. 
A key area of focus is the production of silicon wafers, 
a critical component in our sensors, which generates sub­
stantial emissions. 
We actively monitor our carbon footprint resulting from 
business travel and the transportation choices made by 
our employees. Within employee flights, we have invested 
for several years in the combination of the use of sustain­
able aviation fuels (approx. 10 %) and the contribution to 
climate protection projects (approx. 90 %). At our main 
site in Stäfa, we incentivize the use of public transporta­
tion by subsidizing public transport subscriptions. Since 
2020, a parking fee has been implemented in Stäfa for 
those who commute by car, with the collected funds being 
redistributed to employees as an eco-bonus. This bonus 
supports the purchase of public transport half fare sub­
scriptions or other transit passes.
In addition to these initiatives, we provide access to 
“Franz”, the Sensi e-car, which employees can use for both 
business and personal trips. Furthermore, charging sta­
tions for electric vehicles are available in Stäfa, accommo­
dating those who own electric vehicles (EVs).
Key performance indicators and progress in 2024 
In May 2024 we achieved a major milestone with the 
installation of our photovoltaic system on the roof of our 
production building in Stäfa. Further details see page 101.
We are also currently in the planning phase for our new 
production building in Stäfa, designed to meet both DGNB 
(Deutsche Gesellschaft für Nachhaltiges Bauen, Europe’s 
largest network for sustainable building) and Minergie-P 
standards.
In 2024, we celebrated a significant milestone with the 
opening of our new logistics center in Debrecen, Hungary. 
The new facility is directly connected to our existing 
production building, which was inaugurated in 2021. This 
expansion enhances our logistics capabilities while reflect­
ing Sensirion’s commitment to sustainability through the 
integration of eco-friendly systems for efficient operations. 
By bringing warehousing in-house instead of relying on 
external facilities, we have further optimized efficiency and 
streamlined our logistics processes.
In 2024, our global electricity consumption was fully sourced 
from renewable sources, including solar, wind and hydro­
power. Our heating system in Stäfa increased the share of 
renewable biogas from 24 % in 2023 to 35 % in 2024. 

99
Sustainability  Sensirion Annual Report 2024
1	Wherever applicable, emissions factors have been updated between the years 2023 and 2024.
2	Emissions occurring from self-generating electricity (photovoltaic system) are assumed to be emission free in Scope 1 (value-chain-related 
emissions would be assigned to Scope 3 Category 3).  Thus, the avoided emissions (in reference to the location-based method) result in 
62 tCO2e for 2024 (41 tCO2e in 2023).
3	Biogenic CO2 emissions, such as those resulting from the combustion of biomass or biogas, are considered out of scope due to their renewable 
and carbon-neutral nature in accordance with the GHG Protocol. These emissions (77 tCO2e for 2024 and 28 tCO2e for 2023) are reported 
separately, as required by the GHG Protocol.
4	The emissions are mostly attributed to sulfur hexafluoride gases used in production processes.
5	The emission data is calculated on a market-based approach. Since 2023, it includes all production sites. Location-based emissions from 
electricity consumption in 2024 amounted to 2481 tCO2e, which is based on emission conversion data of IEA (2024). 2023 emissions amounted 
to 2242 tCO2e on a location-based approach based on emission conversion data of IEA (2023). 
6	The total energy consumption and the combined energy consumption of Scope 1 emission sources have been restated (reported values in 2023: 
14,933 MWh and 1,045 MWh, respectively). Reason for this was the missing summation of self-generated electricity in both values. 
in May 2024
Installed photovoltaic system 
with nominal output of
355 kWp
Energy and emissions
2024
2023
tCO2e
MWh
tCO2e
MWh6
Delta in %
Emissions
in %
Energy
Total emissions / 
energy consumption 1
989
17,054
926
15,196
5 %
12 %
 
 
 
Scope 1
989
1,753
926
1,308
5 %
34 %
Self-generated 
renewable electricity 2
–
477
–
263
–
81 %
Heating
179
1,276
210
1,045
(14 %)
22 %
– Natural gas
179
887
90
445
99 %
99 %
– Heating oil
–
–
120
460
(100 %)
(100 %)
– Biogas 3
–
389
–
140
–
178 %
Other
810
–
717
–
11 %
–
– Process emissions 4
810
–
717
–
11 %
–
Scope 2
–
15,301
–
13,888
Purchased electricity 5
–
15,301
–
13,888
–
10 %

100
Sensirion Annual Report 2024  Sustainability
Energy intensity
Since 2023, we have maintained a stable and low emission 
intensity, with a slight change from 5.0 last year to 5.1 this 
year. This marks the lower limit of what we can achieve 
under the current setup. 
Looking ahead, we anticipate that implementing district 
heating and cooling will enable us to take another signifi­
cant step toward further reductions.
2020
2021
2022
2023
2024
10
20
30
40
50
60
70
80
90
Energy intensity [kWh/kCHF contribution profit] * 
Emission intensity [kgCO2e/kCHF contribution profit] *
Increased energy 
intensity driven 
by facility expansions 
in Debrecen and 
Stäfa.
The data 2020 to 2021 cover our four largest sites: Debrecen 
(HU), Seoul (KR), Shanghai (CN) and Stäfa (CH). From 2022 
onwards, we cover our five largest sites, including Enschede 
(NL). 
*	 Emission and energy intensity values for the years 2020 to 2022 
	 were recalculated in the previous report (2023). Contribution 	
	
	 profit = revenue minus material expenses
Emission intensity 
2,00
4,00
6,00
8,00
10,00
12,00
14,00
16,00
18,00
2022
2021
2023
2024
6.4
13.2
5.0
5.1
The 2021 data covers our four largest sites: Debrecen (HU),
Seoul (KR), Shanghai (CN) and Stäfa (CH). From 2022, we 
cover our 5 largest sites, including Enschede (NL). 

Please note that the calculation methodology changed. A
location-based approach for 2021 and a market-based ap- 
proach from 2022 was conducted. 

101
Sustainability  Sensirion Annual Report 2024
Energy use
Sensor production is energy-intensive due to stringent environmental 
specifications (such as humidity, temperature or cleanliness) for 
production buildings and the energy demands of production equipment, 
especially in microelectromechanical system (MEMS) cleanrooms.
Significant energy is consumed for heating, production processes 
and cooling.
Impacts, risks and opportunities
Our focus on energy efficiency measures and transitioning 
to renewable energy sources reduces our climate impact, 
helps decrease our energy costs and may enhance our 
reputation as a role model for the industry.  Furthermore, 
these efforts help mitigate the risk of potential energy 
shortages in the areas surrounding Sensirion sites.
Energy sourcing decisions and price fluctuations have a 
direct impact on our production costs. While increasing 
the use of renewable energy can reduce dependence on 
conventional energy sources, it also poses challenges in 
ensuring consistent energy availability due to the inherent 
variability of the renewable supply.
Reducing energy use
The two primary ways we reduce our energy consumption 
across our operations and supply chain are:
1.	 Increasing energy efficiency, with quarterly tracking of 	
	
consumption in Stäfa and annual assessment globally 
2.	 Deliberate selection of technical equipment and 	
	
	
more sustainable processes
Along with these efforts, we also continue to improve 
our sensors’ functionalities given their important role in 
helping customers reduce their energy consumption. 
Approximately 30 % of the electricity consumed in Stäfa is 
dedicated to cooling production tools. To address this 
significant energy demand, we are actively planning a 
project to implement district heating and cooling solu­
tions utilizing lake water. This ongoing initiative, devel­
oped in collaboration with a leading energy supplier, aims 
to enhance energy efficiency, reduce our environmental 
footprint and promote sustainable practices within our 
Stäfa operations. The project reflects our continued com­
mitment to responsible resource management.
Key performance indicators and progress in 2024 
Throughout 2024, we maintained our energy reduction 
efforts in Stäfa by actively monitoring energy consump­
tion to encourage savings. Furthermore, we are preparing 
plans to implement LED conversion for one of our office 
buildings in Stäfa, covering a total area of 6,000 m². For 
detailed energy consumption information, please refer to 
the “Energy and emissions” table on page 99. 
The increased energy intensity this year is primarily due to 
the expansion of our facilities, including the new building 
in Debrecen and the cleanroom expansion in Stäfa dedi­
cated to R&D activities. Although these expansions are 
critical investments for future growth, they are not yet 
fully operational. However, they are already consuming 
energy, which has significantly contributed to the rise in 
energy intensity.
The photovoltaic system on the roof of Building C of the 
production site in Stäfa became operational in May 2024, 
with a nominal output of 355 kWp. By the end of the year, 
the system had already generated 217 MWh of electricity, 
equivalent to powering 43 Swiss households for an entire 
year. This achievement highlights our commitment to 
renewable energy and reducing our environmental foot­
print. Moving forward, we will continue monitoring the 
system’s performance and release an Interim Report to 
compare its energy yield with the consumption of Building 
C, providing valuable insights into its economic efficiency 
and environmental benefits. 

102
Sensirion Annual Report 2024  Sustainability
Water and wastewater
Water protection is a key focus of our operational sustainability priori-
ties. We aim to minimize water consumption, ensure the proper disposal 
of clean wastewater and regularly monitor water usage per sensor at our 
manufacturing sites. Taking a holistic approach to resource and waste 
management, Sensirion’s efforts to reduce water use and manage waste­
water contribute to maintaining water availability and quality in the 
regions where we operate.
Impacts, risks and opportunities
Water is essential for Sensirion’s production processes in Stäfa, and its use, along with wastewater 
management, is regulated by legal requirements. Changes in these regulations may increase costs due 
to changes in operating processes or investment into new filter systems.
Improperly managed wastewater can negatively impact ecosystems and may result in fines if regulatory 
limits, such as those for copper, are exceeded. In case of copper, however, this substance can be 
extracted from the copper-containing sludge and recycled, thus saving costs as well as the environment. 
Costs can be also saved by reducing water consumption as such.
Water protection
In Stäfa as well as in our production facilities and warehouses in Shanghai, Seoul and Debrecen, we are 
committed to the responsible management of water. We use water primarily for the separation of silicon 
wafers for the individual sensors: the wafer saw, which dices the wafers using a high-speed rotating 
diamond saw blade, is cooled with water. As we evolve our products, water management will remain a 
priority, especially as we ramp up production of miniature sensors. The smaller the sensor, the fewer 
resources are needed to produce it.
Since water consumption correlates well with the number of units produced, Sensirion has decided to 
calculate water consumption as intensity in relation to production units (PU). Our goal is to reduce the 
amount of water per PU by 5 % per year until 2026. This year, we achieved 0.24 liters/PU, reflecting a 4 % 
reduction compared to 2023. The reduction activities heavily depend on the product mix we will sell in 
the future. As we see a certain saturation in terms of the package density of sensors on one wafer, we 
also focus on a water recycling project. The technical evaluation started in 2022. In 2023, we installed a 
deionized water recycling unit for processing water used in wafer dicing on a trial basis. This system is 
designed to reduce water and energy consumption, lower operational costs and enable effective moni­
toring during wafer processing. In 2024, we began initial qualifications and trial runs with the system. 

103
Sustainability  Sensirion Annual Report 2024
Key performance indicators and progress in 2024 
The total water withdrawal across our five sites in Debrecen (HU), Enschede (NL), Seoul (KR), Shanghai 
(CN) and Stäfa (CH) amounted to 55,745 m³ in 2024, compared to 44,015 m³ in 2023. Despite the overall 
increase, we achieved a 4 % reduction in water consumption per production unit (Liter/PU) in 2024, 
bringing us back on track toward our midterm goal.
Wastewater
Wastewater from all sites is discharged into the local sewer system. Only the Stäfa site produces indus­
trial wastewater, which is fed into the sewer system via a two-stage filtration/absorption system that is 
monitored at regular intervals.
Key performance indicators and progress in 2024 
Following the significant increase in production capacity by over 50 % in 2022 and elevated copper levels 
observed in industrial wastewater due to construction activities, Sensirion implemented a substantial 
overhaul of the wastewater treatment system for the lead frame dicing process in Stäfa. The outdated 
system, which lacked sufficient filtration and absorption, was replaced with a state-of-the-art treatment 
system featuring advanced centrifuge and filtration technologies. This upgrade has ensured compliance 
with copper limits throughout 2024, even during high production volumes, reflecting strong perfor­
mance over the year. Additionally, we continue to explore the potential for recycling particulate copper 
from the sludge produced by the centrifuge.
reduction in water consumption 
per production unit (Liter/PU) 
compared to 2023, despite the 
overall increase
4 %
2020
2021
2022
2023
2024
0.210
0.220
0.230
0.240
0.250
0.260
0.270
Water intensity [L/Production unit]
Water intensity

104
Sensirion Annual Report 2024  Sustainability
At Sensirion, our people are the heart of our success. By fostering 
engagement and a healthy work environment, we enhance satisfaction, 
motivation and overall employee strength.
Company culture and employee 
satisfaction
Our culture defines who we are. Sensirion stands out with its blend 
of innovation, dynamic energy and a distinctive company culture known 
as “SensiSpirit”. Anchored in the values of “fair and honest”, “together” 
and “top performance”, our culture thrives through flat hierarchies, 
streamlined decision-making and a plethora of employee-organized 
events. The “SensiSpirit” extends beyond the workplace, driving 
our success and shaping our journey every day.
Our employees – 
It’s all about the people”
“

105
Sustainability  Sensirion Annual Report 2024
Composition of the workforce (in headcount)1
Workforce according to employment contract
2024
Gender
Per­ma­nent
Temporary
Per­ma­nent (%)
Temporary (%)
Men
769
22
64.1 %
1.8 %
Women
379
30
31.6 %
2.5 %
Other 2
–
–
0.0 %
0.0 %
Total
1,148
52
95.7 %
4.3 %
Workforce according to employment contract
2023
Gender
Per­ma­nent
Temporary
Per­ma­nent (%)
Temporary (%)
Men
827
39
63.9 %
3.0 %
Women
400
28
30.9 %
2.2 %
Other 
1
–
0.1 %
0.0 %
Total
1,228
67
94.8 %
5.2 %
Workforce by employment relationship 
2024
Gender
Full time
Part time
Full time (%)
Part time (%)
Men
560
231
46.7 %
19.3 %
Women
292
117
24.3 %
9.8 %
Other 2
–
–
0.0 %
0.0 %
Total
852
348
71.0 %
29.0 %
Workforce by employment relationship
2023
Gender
Full time
Part time
Full time (%)
Part time (%)
Men
650
216
50.2 %
16.7 %
Women
313
115
24.2 %
8.9 %
Other 2
1
–
0.1 %
0.0 %
Total
964
331
74.4 %
25.6 %
1 Sensirion has changed the unit for the reporting of employee numbers to headcount only. The 2024 data covers all global employees excluding 
46 apprentices, trainees, and interns (in headcount).
2 Since 2023, Sensirion discloses gender as specified by the employees themselves. 
Employee structure
On 31 December 2024, Sensirion counted 1,164 employees, 
including 43 apprentices, trainees and interns (FTE). Further, 
Sensirion employed 75 workers (FTE) who are not employees, 
mostly agency workers. The composition of the work­
force by employment contract and by employment rela­
tionship is shown in the table below.

106
Sensirion Annual Report 2024  Sustainability
Fluctuation details are shown in the following table.
Fluctuation (gender and age group)1 
 2024
Entries
Exits 2
Permanent employees (in headcount)
Gender
Men
52
105
Women
36
59
Other 3
0
1
Total
88
165
 
Age
< 30
24
27
30-50
58
117
> 50
6
21
Total
88
165
Permanent employees (turnover in %)
Gender
Men
7 %
14 %
Women
9 %
15 %
Other 3
0 %
100 %
Age
< 30
18 %
20 %
30-50
8 %
15 %
> 50
2 %
9 %
1 The data covers all permanent employees globally excluding apprentices, trainees and interns.
2 Including retirement exits
3 Since 2023, Sensirion discloses gender as specified by the employees themselves. 
 2023
Entries
Exits 2
143
63
80
78
0
0
223
141
66
28
133
98
24
15
223
141
18 %
8 %
21 %
21 %
0 %
0 %
39 %
17 %
16 %
12 %
10 %
6 %
As part of our optimization program, we replaced fewer departures compared to previous years. Additionally, the closure 
of the Berlin site contributed to the fluctuation, with further details provided on pages 8 and 107.
Employee turnover of permanent employees (gender and age group) 1

107
Sustainability  Sensirion Annual Report 2024
Impacts, risks and opportunities
Company culture and employee satisfaction have a direct 
impact on the motivation and performance of employees as 
well as the recruitment process. Should culture and satis­
faction decline, Sensirion would face a risk of losing qua-
lified personnel, decreased productivity and increased 
recruitment costs due to higher fluctuation rates and low 
employee loyalty. Conversely, high employee satisfaction 
leads to low absenteeism, enhanced employee health 
and increased ability to innovate. Sensirion’s culture of 
togetherness not only enriches the personal lives of our 
employees but also strengthens our reputation as an indus­
try role model. 
In 2024, Sensirion ended its activities in condition monitor­
ing (formerly the start-up AiSight, Berlin) after a thorough 
review. The closure of the Berlin site, while challenging, 
was managed with care, including reorientation support 
for 45 affected employees and the integration of two 
colleagues into other roles at Sensirion.
Engaged employees drive growth
Since formalizing our company values in 2014, we have held 
annual culture workshops in Stäfa to reinforce Sensirion’s 
core values and integrate new colleagues as part of their 
onboarding process. Following the culture workshops, all 
attendees are encouraged to participate in an anonymous 
survey, the findings of which are discussed in a manage­
ment meeting. Areas identified for improvement are con­
sidered for next year’s culture workshops. Employee par­
ticipation is documented within the training system, with 
careful monitoring to ensure each employee participates 
in the workshop at least once.
Sensirion is not a member of an employer association and 
therefore not subject to any collective labor agreement. 
Sensirion’s employees are not covered under collective 
bargaining agreements accordingly. We maintain a non-
hierarchical and transparent corporate culture, and the 
management prioritizes and lives by an open-door policy, 
so that all employees have the opportunity to directly 
interact with them as needed. Additionally, we perform 
an annual external salary comparison in Switzerland to 
ensure that remuneration for all roles in Stäfa aligns with 
local market standards.
77 %
16 %
65 %
19 %
23 %
Gender 
in manage- 
ment
Age of employees 
without management 
function
< 30
30 - 50
> 50
Female identity
Male identity

108
Sensirion Annual Report 2024  Sustainability
SHT4x Sensirion’s state-of-the-art humidity 
and temperature sensor

109
Sustainability  Sensirion Annual Report 2024
Sensirion conducted 
its first global and 
anonymous “Pulse 
Survey,” with about 
80 % of employees 
participating.
The organizational responsibility rests primarily with the 
management, particularly the Vice President of Human 
Resources. We prioritize cultural fit when hiring applicants, 
even if they possess outstanding qualifications. In cases of 
repeated misconduct against the company’s culture and 
values, we part ways with employees in a fair and transpar­
ent manner. All managers and employees share the respon­
sibility of embodying the corporate culture and values.
Sensirion is honored to be recognized as a kununu Top 
Company for 2024. This award, granted to only about 5 % of 
all employer profiles on kununu, is based entirely on ratings 
provided by current and former employees, reflecting their 
workplace experiences. Our company page on kununu can 
be found here.
Key performance indicators and progress in 2024 
In 2024, Sensirion conducted its first global and anony­
mous “Pulse Survey”, with about 80 % of employees partici- 
pating. Covering around 40 questions, the survey aimed to 
understand employees’, experiences and identify areas for 
growth and improvement, with a focus on strengthening 
organizational cohesion and collaboration. Focus areas 
of the survey were around leadership, communication 
and collaboration, Sensirion’s values of “fair and honest”, 
“together”, and “top performance” as well as the employ­
ees engagement. 
The survey provided valuable feedback, highlighting the 
following key strengths:
•	 High ratings for respect among colleagues, 
	
teamwork and trust within teams.
•	 Positive feedback on regular meetings and approach-	
	
ability of managers.
•	 Employee commitment: Strong dedication 
	
to going the extra mile.
•	 Appreciation for events and activities fostering 
	
camaraderie and well-being.
While no single statement was rated below expectations 
across all groups, areas for improvement were identified 
around global communication and collaboration as well as 
enhanced trainings for leaders.
To address all the insights, results were broken down by 
teams and reviewed by VPs and GMs by the end of Decem­
ber, with more individual action plans to follow. On a global 
level, communication and collaboration were tackled in a 
strategic workshop in December. Leadership development 
will be a key focus for 2025, starting with workshops for 
all people managers at the headquarters in Stäfa in early 
January 2025.
We maintained our commitment to fostering a vibrant cor­
porate culture by hosting numerous events and workshops. 
These initiatives garnered significant attendance, show-
casing the strong engagement and participation of our 
dedicated employees.
In the reporting period, we again successfully conducted 
culture workshops in Switzerland, the Netherlands and 
Korea. 

Afghanistan, Austria, Belgium, 
Bosnia and Herzegovina, Brazil, 
Bulgaria, China, Croatia, Czech 
Republic, Denmark, Eritrea, 
Estonia, Finland, France, Ger- 
many, Greece, Hungary, India, 
Ireland, Italy, Kazakhstan, Korea 
(the Republic of), Kosovo, 
Latvia, Liechtenstein, Luxem­
bourg, Malaysia, Malta, Mexico, 
Morocco, Netherlands, New 
Zealand, Philippines, Poland, 
Portugal, Republic of North 
Macedonia, Romania, Russian 
Federation, Serbia, Singapore, 
Slovakia, Slovenia, Spain, Sri 
Lanka, Sweden, Switzerland, 
Syrian Arab Republic, Taiwan, 
Thailand, Tunisia, Turkey, Uni-
ted Kingdom, United States

111
Sensirion Financial Report 2024
Diversity, equality and inclusion
At Sensirion, our global leadership recognizes that fostering 
diversity, equality and inclusion (DE&I) requires a deliberate mindset 
shift. These principles are integral to our values and we are dedicated 
to ensuring that everyone, regardless of race, gender, sexual 
or political orientation or geographic origin, feels accepted and fully 
embraced within the Sensirion. 
Impacts, risks and opportunities
Sensirion’s commitment to diversity, equality and inclusion 
(DE&I) impacts the local community and society at large, 
contributing to social stability and promoting equal oppor­
tunities within the science, technology, engineering and 
mathematics (STEM) field, especially for women.
Shortcomings in the DE&I area, especially a risk of dis-
crimination, may lead to difficulties in recruitment, lower 
motivation and productivity of employees, damaging also 
Sensirion’s employer image and reputation. Additionally, an 
inconsiderate focus on DE&I initiatives may lead to feelings 
of discrimination and demotivation in other groups of 
employees. However, by incorporating different perspec­
tives, we boost our ability to innovate and reduce risks of 
decision bias.
A commitment to positive change
Through our commitment to promoting diversity, equality, 
and inclusion (DE&I), we strive to create an environment 
that offers equal opportunities and fair conditions for all 
employees. When recruiting for technical roles in our R&D, 
marketing and sales teams, we actively monitor the gender 
ratio. This monitoring involves comparing the gender com­
position of these teams to the gender distribution of grad-
uating classes in the universities from which we source 
our talent. As part of this focus, we continue to partner 
with Fachstelle jumpps*, an organization that promotes 
gender education and encourages girls to pursue their 
interests and talents in science, technology, engineering 
and mathematics (STEM).
Sensirion supports the career advancement of all genders 
equally and encourages and supports qualified people to 
take up leadership positions and inspire others with our 
culture of DE&I. Our global leadership and Board of Direc­
tors are unequivocally aligned on the value of nurturing an 
inclusive workforce to unite our people into a global team. 
Discrimination is always off-bounds at our company. In 
2024, there were no confirmed cases of discrimination at 
Sensirion.
Key performance indicators and progress in 2024 
We continue to organize events at our Stäfa headquarters 
as part of the “It’s MINT” project, in collaboration with our 
partner Fachstelle jumpps*. This initiative aims to inspire 
primary school girls to explore STEM careers in a fun 
and supportive environment. Participants will engage in 
hands-on experiments, tour our R&D labs, and interact with 
female colleagues who will share their experiences and 
serve as role models in STEM. Our partnership remains 
strong, and Sensirion is proud to be listed as an official 
excursion partner on their website.
A strong 
DE&I culture boosts 
motivation and 
loyalty, and fosters 
solidarity.

112
Sensirion Annual Report 2024  Sustainability
In 2024, we have piloted an “Unconscious Bias” training that will be followed up in 2025 for all people 
leaders. Furthermore, we have launched an internal platform called “Women@Sensirion” to strengthen 
the community of women within the company. This initiative aims to create a space for sharing experi­
ences, supporting personal and professional growth, and inspiring the next generation of women in tech. 
Importantly, the platform is open to everyone, not just women, encouraging inclusive participation in 
these topics. As part of the initiative, we organized a workshop on assertiveness, regular lunch meet-
ups and other networking opportunities to build connections and empower our community. This platform 
reflects our commitment to DE&I and creating a workplace where everyone can thrive.
As our global presence expands, we are adapting our  hiring practices and collaborating with partners 
to enhance awareness of our employer brand. Our focus is on attracting diverse candidates, particularly 
at sites beyond Switzerland. At the end of 2024, Sensirion employed people from 53 nationalities. 
The following table shows the diversity of gender and age in the management body and workforce of 
Sensirion as per 31 December 2024 and 31 December 2023.
53
nationalities
The Women@Sensirion initiative to 
strengthen the community of women 
within the company

113
Sustainability  Sensirion Annual Report 2024
2024
%
Board of Directors
Gender
Men
4
67 %
Women
2
33 %
Other 1
–
0 %
Total
6
100 %
Age
< 30
–
0 %
30-50
1
17 %
> 50
5
83 %
Excecutive Management
Gender
Men
4
67 %
Women
2
33 %
Other1
–
0 %
Total
6
100 %
Age
< 30
–
0 %
30-50
4
67 %
> 50
2
33 %
Employees with management function 2
Gender
Men
135
77 %
Women
40
23 %
Other 1
–
0 %
Total
175
100 %
Age
< 30
1
1 %
30-50
123
70 %
> 50
51
29 %
Employees without management function 2
Gender
Men
656
64 %
Women
369
36 %
Other 1
–
0 %
Total
1,025
100 %
Age
< 30
168
16 %
30-50
663
65 %
> 50
194
19 %
1 Since 2023, Sensirion discloses gender as specified by the employees themselves.
2 The data contains all permanent employees excluding apprentices, trainees and interns.
2023
%
4
67 %
2
33 %
–
0 %
6
100 %
–
0 %
1
17 %
5
83 %
4
67 %
2
33 %
–
0 %
6
100 %
–
0 %
4
67 %
2
33 %
137
79 %
37
21 %
–
0 %
174
100 %
2
2 %
124
75 %
48
23 %
703
65 %
381
35 %
1
0 %
1,085
100 %
192
18 %
709
65 %
184
17 %
Diversity of the management body and workforce

114
Impacts, risks and opportunities
Employee development and training not only benefits the 
qualifications of Sensirion’s workforce, but it creates spill-
over effects into the industry, the value chain and the wider 
society in our regions. Enhanced professional development 
also impacts the personal lives of our employees.
Failure to provide employee development and training 
opportunities may result in stagnation of skills, reduced 
innovative ability and competitiveness of Sensirion as well 
as potential migration of employees to other companies 
with better development and training opportunities. Reten­
tion of qualified employees, on the other hand, reduces 
recruitment costs and leads to higher productivity, innova­
tion capacity and adaptability to market developments.
Invested in our employees
Many graduates and students start their careers with us, 
playing a vital role in advancing a smarter world through our 
sensor technologies. Maintaining a robust presence at key 
technical universities and universities of applied sciences is 
crucial for attracting and recruiting such talent. Sensirion 
consistently participates in job fairs and hosts various 
events, including company tours and the Students TechDay, 
as part of our ongoing efforts to engage with and recruit 
talented individuals. Through training initiatives and foster­
ing a positive culture, we cultivate and nurture the finest 
talent internally, providing opportunities for professional 
growth and long-term careers within our organization.
At Sensirion, we deeply value the contributions our employ­
ees make to the company’s success. Consequently, we 
make substantial investments in their professional develop­
ment, aiming to ensure job satisfaction and ongoing growth, 
and positioning Sensirion as their preferred employer. To
align individual career paths with opportunities, Sensirion
Sensirion Annual Report 2024  Sustainability
We prioritize the development of our talent and invest in their
professional growth. Viewing our people as brand ambassadors, we 
strive to make their time at Sensirion satisfying and productive by 
enhancing their skills and empowerment.
Employee development and training
conducts regular performance and career development 
reviews. Oversight of these talent development initiatives is 
led by the Vice President of Human Resources, working in 
collaboration with HR business partners on a local level. 
Sensirion’s employee development program encompasses 
the following offerings for its employees:
A) SensiAcademy 
As part of the SensiAcademy, we provide a comprehensive 
range of approximately 330 digital and on-site training 
sessions featuring both internal and external speakers. All 
employees can register for these training sessions, subject 
to the supervisor’s approval, with all associated costs 
covered by the company. Moreover, employees in specific 
specialized fields, such as information technology, regu­
larly engage in external courses to ensure their skills 
remain current. 
B) Operator trainings
Operators are required to undergo an extensive array of 
process training courses, the completion of which is man­
datory for the performance of their work activities. The 
associated training costs, frequently conducted by inter­
nal trainers or process managers, are not billed to the 
operators.
C) Talent development 
Our talent development efforts focus on identifying and 
supporting our top talents to prepare them for future pro­
motions and strengthen our bench strength. Talent identi­
fication and management alignment on employee devel­
opment helps to prioritize development needs, and then 
individual development plans will be discussed and 
followed up on to provide the best possible support for 
each employee’s growth.

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Sustainability  Sensirion Annual Report 2024
D) Individual training suggested by employees
Individual training suggestions by employees are assessed 
case-by-case. Depending on the compatibility of the training 
with the current or foreseeable career path of the employee 
and therefore the long-term benefit from Sensirion’s point 
of view, we contribute to the training costs. To formalize this 
commitment, employees agree to stay with Sensirion for up 
to two years after completing the training, depending on 
the training costs. The training process and, above all, the 
effectiveness of these courses are monitored in line with 
existing processes. Manual tests are also used by the train­
ers to evaluate content immersion. 
For training courses at external education institutions, we 
check in regularly with the training instructor(s) to evalu­
ate the effectiveness of the training, the applicability for 
the employee to practice new skills in their role and to doc­
ument their progress. As part of externally required audits 
and to retain our ISO certifications, training processes are 
closely monitored. 
Key performance indicators and progress in 2024 
In early 2024, we launched the Specialist Career@Sensirion 
initiative to provide attractive career paths and develop­
ment opportunities while ensuring recognition and appre-
ciation. The model is based on three key criteria: relevant 
work experience, values for assessing performance and 
impact (e.g., professional competence, alignment with cor­
porate values, ownership), and leadership expectations.
Key aspects include:
•	 A maximum of five global levels to maintain a flat 	
	
	
hierarchy.
•	 Globally defined performance values such as 
	
professional experience, communication skills, owner- 	
	
ship and entrepreneurial thinking.
•	 Decision-making committees to ensure consistency, 		
	
with VP oversight for the highest levels.
This initiative encourages growth within roles, allowing 
specialists to expand their responsibilities and expertise 
without requiring a shift into leadership positions. The pro- 
gram supports both leadership development, with an aim 
to fill leadership roles internally whenever possible, and 
specialist development, enabling employees to take on 
significant responsibility in their areas of expertise. Already 
available in Switzerland, the Specialist Career model will 
roll out globally in 2025.
Additionally, one of our key priorities was the development 
of our leadership principles to foster a culture where indi­
viduals deliver results, are inspired to innovate and make a 
meaningful impact on those around them. 
These principles are rooted in our three core cultural 
values and serve as the foundation of our Leadership 
Program. The program is designed to guide and support 
leaders on their individual development journeys, equip­
ping them to become strong and effective leaders. It incor­
porates a comprehensive learning model that combines 
on-the-job experience, social learning through mentoring 
programs or internal communities and formal education.
In January 2025, we will begin the rollout of the Leadership 
Training Program for all leaders based in Stäfa, with plans 
to extend the program to leaders globally in the future. 
This initiative reflects our commitment to investing in 
our leaders and ensuring they are well equipped to drive 
success within our organization. If our leaders reach their 
full potential, they can create an environment where Sensis 
can be at their best, deliver more fulfilling work experience 
for everyone and a greater success for Sensirion as a whole.
Furthermore, we have successfully rolled out a global 
Learning Management System (LMS) across all Sensirion 
locations, implementing SuccessFactors Learning to facili­
tate course delivery and engagement tracking. This unified 
platform ensures consistent training opportunities and 
supports employee development across all entities.
In 2024, development plans were created in Success-
Factors for our US locations and at our headquarters in 
Stäfa. Additionally, performance evaluations, including 
year-end discussions, were conducted globally in Success­
Factors, ensuring a standardized and efficient process 

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Sensirion Annual Report 2024  Sustainability
worldwide. We also launched a new global e-learning 
platform in 2024 as a cornerstone of our formal training 
program. The platform offers courses on self-competence, 
communication and leadership, providing employees with 
valuable tools and resources to enhance their skills.
Performance/career development reviews 1
%
2024 
Gender
Male
100 %
Female
100 %
Other 2
100 %
Management position
Employees with management function
100 %
Employees without management function
100 %
Average hours of training per year per employee 1
Hours
20243
Gender
Male
12 
Female
16 
Other 2
–
Management position
Employees with management function
10 
Employees without management function
14 
1 The data covers all employees incl. apprentices, trainees, interns, temporary and contract workers.
2 Since 2023, Sensirion discloses gender as specified by the employees themselves.
3 The 2024 data covers all sites, whereas the 2023 data only covers Stäfa and Debrecen.
2023
100 %
100 %
100 %
100 %
100 %
20233
15 
20 
20
18 
17 
The following tables show the proportion of employees 
based on gender and position who received a performance/
career development review and the average hours of 
training per year per employee.

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Sustainability  Sensirion Annual Report 2024
SEN6x The first sensing platform that measures 
up to nine environmental parameters

118
Sensirion Annual Report 2024  Sustainability
Occupational health 
and safety
We foster a safe and supportive workplace environment, 
preventing and mitigating safety risks such as mechanical, 
chemical, laser and fire hazards. Factors affecting the 
health of our people are also our key priority.
Impacts, risks and opportunities
Occupational health and safety aspects are critically rele­
vant across all Sensirion sites, and we strive to protect both 
employees and business operations. Health and safety inci­
dents impact employees and their families, leading to sick 
leave and partial income loss, and decreasing their satis­
faction and well-being. These can also potentially reduce 
productivity, interrupt production processes and create 
planning uncertainties. Risks associated with inadequate 
health and safety measures include financial losses, reputa­
tional damage, legal consequences, higher insurance pre­
miums and increased operational costs. Serious incidents 
can weaken employee motivation, compromise the working 
environment, and necessitate costly technical expertise.
Managing occupational health and safety
At Sensirion, we do not compromise on workplace risks 
prevention and mitigation. Our EHS management system is 
inspired by ISO 45001, although not certified. In addition to 
obligatory insurance, we provide employees based in Stäfa 
private accident insurance with global coverage. 
Along with general safety manufacturing risks, we address 
our production-specific hazards – mechanical (moving robotic 
parts or pressurized systems, e.g. gas cylinders up to 200 
bar), chemical (toxic liquids and gases), laser technology 
and fire hazards (flammable liquids and gases, incl. within 
cleanrooms). We also focus on factors affecting the physi­
cal and mental health of our people – working shifts, work-
related stress, awkward body movements or repetitive 
tasks. All employees receive general EHS and emergency 
response training, with specific sessions for those handling 
chemicals, lasers, or gas cylinders, repeated every three 
years. Each production site is supported by company para­
medics. Additionally, the Stäfa site is specifically equipped 
to handle hydrofluoric acid and chlorine burns. A chemical 
intervention team in Stäfa is established to manage possi­
ble small to medium-sized leaks, ensuring swift and effec­
tive responses. Every accident is thoroughly reviewed and 
recorded for continuous safety improvement.
In Stäfa, we conduct an annual risk analysis for each pro­
duction department and evaluate every new process using 
the STOP strategy defined by SUVA (Swiss Institute for 
Accident Insurance). This process focuses on 13 identified 
hazards to assess potential risks, address emergency situ­
ations and define appropriate measures accordingly. 
Health and safety protection is implemented throughout 
the entire organization and managed locally to comply with 
local laws and ensure effectiveness, setting specific duties 
to employees, their supervisors and the EHS Management.
Key performance indicators and progress in 2024
We focus on achieving zero accidents with lost working 
days. We track data on lost working days and hours 
worked, starting with our Stäfa location, and aim to expand 
data collection to other sites. Additionally, we monitor 
training completion to ensure comprehensive safety pre­
paredness across all locations.
Work-related injuries in Stäfa (CH) 2024
Number 
Rate *  
Fatalities
0
0.00
Number of high-consequence work-related injuries
0
0.00
Number of recordable work-related injuries
6
2.79
* Rates are calculated as accidents per one million hours worked.

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Sustainability  Sensirion Annual Report 2024
Impacts, risks and opportunities
All Sensirion stakeholders are impacted by our compliance 
and governance practices, which form the basis for trusted 
partnerships with employees, customers, suppliers, owners 
as well as entire communities. 
Violations of compliance and governance may lead to 
obstructions in the development of fair market structures, 
distortion of competition and loss of trust, while harming 
the social fabric of wider society. Such events as well as 
violations against human rights in our own operations 
could result in damage to our reputation and possible legal 
risks and fines.
As an international company that is committed to creating long-term 
value, Sensirion maintains high standards of corporate governance and 
pursues a transparent information policy vis-à-vis its stakeholders. 
Transparent reporting forms the basis for trust.
Compliance and governance
Compliance and governance encompass internal regulations, manage-
ment structures, processes and practices upheld at Sensirion to foster 
fairness, transparency and accountability. Our commitment to ethical and 
transparent corporate governance extends to compliance with all legal 
and stock exchange requirements, encompassing the prevention of anti- 
competitive behavior, money laundering and corruption. Through robust 
corporate governance practices, Sensirion establishes a foundation 
for sound business conduct, promoting fairness, honesty, transparency 
and accountability to safeguard the best interests of our stakeholders.
Ethical business 
conduct
Compliance guidelines and mechanisms
We ensure that all our business practices are aligned with 
local / Swiss laws and our Code of Conduct. The Code of 
Conduct covers ethical topics, including anti-corruption, 
anti-bribery and whistleblowing, to protect our business 
from risks. The Code of Conduct also explicitly prohibits 
child labor and violations against human rights within the 
company and is subject to verification during audits. 
We believe in creating value by building a corporate culture 
that puts people first. Sensirion’s Executive Board is 
responsible for overseeing corporate governance with 
mandatory guidelines and policies defining our practices. 

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Sensirion Annual Report 2024  Sustainability
All employees are required to comply with these guidelines 
and policies. For an overview of all our policies, please 
refer to “Our commitment” on page 80. 
In the event of violations against policies, varying actions 
such as reprimands or extraordinary terminations are taken 
depending on their severity. 
Sensirion has clear processes in place for complaint man­
agement and conducts regular audits. The fundamental 
idea behind this is that employees with legitimate, justified 
complaints should not be concerned about any conse­
quences of raising their voice. All employees are encouraged 
to raise issues of concern, including feedback on the strate­
gic and behavioral status of management, to their super­
visors or human resources (HR). 
Additionally, complaints can also be submitted anony­
mously via the whistle­blower hotline. Complaints about 
Executive Committee members are handled discreetly by 
a member of the Board of Directors; complaints about 
employees are handled by the Vice President of Human 
Resources. For complaints from other stakeholders about 
our suppliers, there is an ethical complaint form on our 
website. Critical risks are presented and discussed in 
yearly meetings with the Audit Committee and afterwards 
reported to the Board of Directors. 
Audits and systems controls
Sensirion has an internal control system in place in order to 
ensure accuracy of bookkeeping. In 2024, internal audits 
were conducted for all fully consolidated legal entities to 
identify risks. This process led to continuous improvement, 
including the implementation of measures and an action 
plan. Internal risk assessment guides us in determining 
where audit and control systems need to be implemented. 
This also included checking whether all relevant employees 
had received training in the Code of Conduct. For the audit 
itself, the focus was on:
a.	 Compliance with system controls in the processes 
(approval limits, compliance with the dual control prin- 
ciple)
b.	 A review of the internal control system and an analysis 
of contributions per product at manufacturing sites 
c.	 For legal entities, random testing of operating expenses 
(purpose, amount), review of bank transactions and check 
of payroll accounting (special payments, bonuses, salary)
Anti-corruption communication and trainings
All Sensirion employees must take the Code of Conduct 
training when hired and a refresher every three years. 
Temporary employees and interns must read and sign the 
most important information of the Code of Conduct. In the 
event that an employee fails to complete the training, a 
reminder will be issued by the HR department. The Board 
of Directors and general management are responsible for 
training themselves.
Key performance indicators and snapshot of 2024
In 2024, we upheld our strong commitment to compliance 
and governance, with no significant violations of laws, 
regulations or ethical standards reported. There were no 
instances of non-compliance resulting in sanctions or fines, 
nor any confirmed cases of corruption or human rights vio­
lations within our operations. Additionally, no legal actions 
related to anti-competitive behavior, anti-trust or mono-
poly legislation were reported.

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Sustainability  Sensirion Annual Report 2024
Nomination, selection, composition and independence of the Board of Directors
The Nomination and Compensation Committee of the Board of Directors determines the selection cri­
teria for the succession of members of the Board of Directors. In doing so, it considers, among other 
things, competencies relevant to the further development of the company, the views of stakeholders 
(including shareholders), diversity and independence. Please find further information in the Corporate 
Governance Report – pages 43-44.
As of 31 December 2024, the Board of Directors consisted of six members. All members of the Board 
of Directors are non-executive directors. The governance structure and members including the 
committees of the Board of Directors are described in more detail in the Corporate Governance Report 
– pages 35 to 46, in our Organizational Regulations and in the Corporate Governance section on our 
website.
The information on the two founders and Co-Chairmen of the Board of Directors and their function within 
Sensirion’s management can be found in the Corporate Governance Report – page 42. The information 
on the Independent Director’s Committee to prevent and mitigate conflicts of interest can be found in 
the Corporate Governance Report – page 44.
Chapter eight “Conflicts of Interest” of the Organizational Regulations sets out guidelines for dealing 
with potential and actual conflicts of interest. Its purpose is to clarify and establish appropriate guide­
lines for conducting business to ensure business judgment and decision-making are not influenced 
by improper personal interests. Any other board memberships of the Executive Committee or Board
of Director members are disclosed in their respective CVs in the Corporate Governance Report – 
pages 38-39 and 50-51. Related party transactions are disclosed in the Compensation Report – pages 
62 and 67.
Policies and processes to determine remuneration
The remuneration policies of the Board of Directors and the Executive Committee are disclosed in the 
Compensation Report – pages 56-57. The processes to determine remuneration of the Board of Direc­
tors and the Executive Committee are disclosed in the Compensation Report – pages 57 to 59. The total 
annual compensation ratio in 2024 of the CEO compared to the median total annual compensation for 
all employees (excluding the CEO) based in Switzerland was 5.56.
 
Organizational 
structure

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Sensirion Annual Report 2024  Sustainability
Management and oversight of sustainability
Business-relevant sustainability topics such as innovation and growth are anchored in the corporate 
strategy. The Board of Directors monitors the execution of the strategy and reviews the key activities. 
The Board of Directors is informed once a year about the progress in the CO2 strategy, thereby also 
exerting indirect influence. The assessment of the quality and effectiveness of the external audit and 
the internal control system is performed by the Audit Committee on a yearly basis as described in the 
tasks of the Committee in the Corporate Governance Report – pages 42-43. On a regular basis, members 
of the Board of Directors perform a self-evaluation and assess the efficiency and effectiveness of 
their work. 
Most of the members of the Board of Directors have experience of leading or oversight positions at 
other listed companies where they also face sustainability topics and are hence well aware of recent 
best practices. 
Every year, the Board of Directors and the Executive Committee review the corporate strategy in a joint 
meeting. This is prepared by a strategy committee (consisting of the two founders and Co-Chairmen 
and three members of the Executive Committee), which meets several times a year for ongoing reviews 
and further development of the strategic framework. Significant adjustments to the strategy must be 
approved by the full Board of Directors. 
The Board of Directors has delegated the Company’s management to the Executive Committee under 
the direction of the CEO. The Executive Committee, led by the CEO, oversees sustainability topics and 
is supported by an interdisciplinary sustainability team. The sustainability team develops the CO2 
roadmap and targets, drives initiatives, monitors progress and provides strategic recommendations to 
the Executive Committee and information to the Board of Directors (for more details see Climate Report 
pages 124-125).

123
Sustainability  Sensirion Annual Report 2024
About this 
Sustainability Report
This Sustainability Report of Sensirion was published on March 11, 2025. The reporting frequency is 
annually until further notice and the reporting scope of this Sustainability Report covers the consolidated 
subsidiaries listed in the Consolidated Financial Statements on page 165 of the Financial Report, except 
it is stated differently within this Sustainability Report. Restated data is clearly indicated and marked 
within the report at the specific locations where it is applicable.
The emissions calculations in this report follow the GHG Protocol Corporate Standard. We have chosen 
the financial control approach for this purpose, as we stated above. We include all our activities (produc­
tion, R&D, labs, offices and warehouses) in our operational boundary without any exclusions. The report­
ing period is in line with the financial statement. Furthermore, the following emission factors build the 
basis for preparation of our GHG balance: DEFRA (2024) emission factors for all fuels; IPCC AR4 GWP100y 
and EPA emission factors for all process gases; market-based emissions factors for Scope 2 as stated by 
our electricity providers; IEA (2024) emission factors (with reference year 2022) for our location-based
Scope 2 emissions calculations.
A limited assurance engagement has been conducted on Total Scope 1 emissions (GRI 305-1) and Total 
Scope 2 emissions (GRI 305-2) of Sensirion Holding AG. Please refer to the sections highlighted as 
“assured by KPMG” in the GRI Content Index (page 135) of the Sustainability Report for the period ending 
31 December, 2024.
Since financial year 2023, Sensirion is mandated by the Swiss Code of Obligations (CO) to disclose a 
Non-Financial Report. This statement is presented as a consolidated, distinct Non-Financial Report within 
this Sustainability Report.
Regarding questions on this report, please contact: 
Lars Dünnhaupt, Director Investor Relations, lars.duennhaupt@sensirion.com

124
Sensirion Annual Report 2024  Sustainability
Climate Report
Sensirion Holding AG is reporting for the first time on climate-related risks and opportunities following 
the recommendations of the Task Force on Climate-related Financial Disclosures (TCFD) pursuant to the 
“Swiss Ordinance on Climate Disclosures”, which refers to Art. 964a ff CO. The TCFD recommendations 
are organized into four pillars: governance, strategy, risk management as well as metrics and targets. 
This report details how Sensirion identifies and manages physical and transition risks and opportunities 
induced by climate change that could impact the company’s long-term performance.
Our product portfolio, which includes mainly environmental and flow sensor solutions for automotive, 
medical, industrial and consumer markets, showcases our innovation in these areas. We contribute in 
several applications to either the adaptation to climate change or the mitigation of CO2 emissions from 
our customers and end consumers. However, climate change also presents potential transition and 
physical risks to our company and value chain. 
To address this, we are committed to reducing our carbon footprint through our climate strategy, ensur­
ing the adaptability of our production processes to potential regulatory changes and monitoring the 
resilience of our supply chain against physical and transition climate change risks.
 Governance
Board oversight
The Board of Directors actively oversees the execution of the company’s strategy and reviews the key 
activities. Given that several products and Sensirion’s innovative approach can contribute to adapting to 
and mitigating climate change, strategic decisions regarding the product portfolio influence the man­
agement of climate-related risks and opportunities for both customers and end consumers.
In 2022, the Board of Directors approved the CO2 roadmap. In September 2024, the Board received the 
annual update on the progress of the CO2 strategy, thus exercising indirect influence. Looking ahead, we 
continue to further anchor sustainability topics into the Board agenda. The Audit Committee annually 
evaluates the quality and effectiveness of the internal control system, including risk management, as 
detailed in the Corporate Governance Report (Annual Report, pages 42-43). Risk matters that may have a 
material impact on the Company’s financial statements are therefore discussed between the Audit Com­
mittee and the Executive Committee. Subsequently, the Audit Committee informs the Board of Directors 
about the outcomes of the risk analysis. Climate-related risks are evaluated annually by the interdisciplin­
ary sustainability team (see page 125); however, this year they were assessed with a comparatively lower 
impact on Sensirion’s business than other business risks and therefore not explicitly integrated into the 
general risk management processes or included in the Board’s annual risk reporting. 
Nevertheless, the Board of Directors took notice and approved the Climate Report as part of the Swiss 
Non-financial Reporting obligations.

125
Sustainability  Sensirion Annual Report 2024
Management oversight
The Board of Directors has entrusted the management of the company to the Executive Committee, led 
by the CEO. At this level, the CEO oversees sustainability topics, including the implementation of the CO2 
strategy and the management of climate-related risks and opportunities.
An interdisciplinary sustainability team of internal experts from areas such as Investor Relations, Envi­
ronmental Health and Safety, and Maintenance & Infrastructure, and headed by a representative for ESG 
(Environmental, Social and Governance) matters, convenes monthly to drive sustainability activities and 
initiatives, including the development of the CO2 roadmap and targets. Regular discussions about sus­
tainability goals, including pending decisions, occur between this team, the CEO and the Executive 
Committee. The team is also tasked with making recommendations to the Executive Committee, which 
oversees all strategic initiatives, including achieving the CO2 roadmap. Furthermore, they are respon-
sible for providing the Board of Directors with information on all relevant sustainability matters.
Strategy
Climate-related risks and opportunities
At Sensirion, greenhouse gas (GHG) emissions occur across various stages of our value chain. GHG 
emissions of the value chain arise mainly from the complex and energy-intensive production processes 
of purchased goods and materials (such as silicon wafers) from suppliers’ foundries, as well as from the 
use phase of the sold products. In our own operations, GHG emissions result mainly from the usage 
of process gases or the combustion of heating oil or natural gas.
GHG emissions contribute to climate change, causing long-term shifts in climate patterns and an increas­
ing frequency of extreme weather events. These changes could impact our supply chain, particularly in 
Asia, due to factors like water scarcity or cyclones. Conversely, more extreme weather conditions may 
boost the demand for our products, especially sensors used in cooling, air conditioning systems and 
other climate change adaptation measures.
Our innovations can contribute, among others, to protecting the climate by enhancing energy efficiency 
and preventing harmful emissions, while having the potential to boost Sensirion’s sales, market share 
and profitability. By solving relevant problems innovatively, we also enable our customers to develop 
their own innovative solutions. In parallel, we recognize the risk that a misalignment in our Research & 
Development efforts could result in products that do not align with customer needs or demands. This 
misalignment poses a risk of incorrect asset allocation and could weaken our market position. In addi­
tion, sensor products designed for fossil fuel-based applications might become obsolete.
Failure to effectively manage and communicate our climate targets poses reputational risks, while reg­
ulatory changes such as taxation with regards to high-GWP process gases could also have an impact on 
Sensirion and its supply chain.

126
Sensirion Annual Report 2024  Sustainability
Climate-related risks and opportunities were considered 
under the following two scenario outlines
2°C or lower scenario 	
Higher temperature scenario
•	 Global cooperation drives climate mitigation efforts 	
	
	
across countries and industries, combining regu-	
	
lations on greenhouse gas emissions with incentives 
	
to promote cleaner technologies and sustainable 	
	
	
practices.
•	 Transition to renewable energy and trends towards 	
	
	
circular economy practices reduce reliance on fossil 
	
fuels and virgin materials.
•	 Mobility trends shift toward non-fossil-fuel solutions, 
	
including electric vehicles, public transportation, and 
	
innovative mobility systems.
	
	
Drastically reduced greenhouse gas emissions 
	
	
limit global warming to below 2°C, stabilizing 	
	
	
	
climate patterns and strengthening resilience for 		
	
	
ecosystems and communities.
•	 Limited international collaboration and a lack of 	
	
	
regulations result in “business as usual” approaches 	
	
	
dominating economic systems and consumer 	 	
 	
	
behaviors, leaving vulnerable regions exposed to 	
	
	
greater climate impacts.
•	 Energy systems remain reliant on fossil fuels, with slow 	 	
	
adoption of renewables and continued dependence on 	 	
	
virgin materials, including fossil-based mobility systems.
•	 Societies and businesses focus on reactive adaptation to 	
	
climate events, prioritizing the protection of infra-
	
structure, supply chains and community resilience.
	
	
Persistently high greenhouse gas emissions 	
	
	
	
drive global warming well beyond 2°C, 
	
	
intensifying climate events such as extreme 	
	
	
	
weather, droughts, and rising sea levels, 
	
	
disrupting ecosystems and communities.
Climate-related risks in Sensirion’s supply chain 
and operations
Sensirion’s value chain as well as our direct operations 
could be affected by climate-related physical risks. The 
primary concerns lie within our supply chain due to possi­
ble water shortages and climate change effects in East 
Asia. In contrast, our own operations might face compara­
tively lower risks. In Shanghai, we might face risks associ­
ated with rising sea levels. However, our current facilities 
are leased, so the impact is somewhat mitigated. In addi­
tion, there is a risk in summer that air conditioning systems 
may have to be switched off due to energy contingencies. 
In Seoul, we may encounter typhoon risks, and the produc­
tion site in Debrecen may be potentially threatened by 
extreme flooding and droughts. The financial implications 
are manageable due to our limited balance sheet expo­
sure in these areas. On the other hand, we own significant 
assets in Stäfa, but the local risks related to climate change 
appear to be less severe compared to other locations. 
Evolving regulations might impact our operations. A strong 
focus on innovation is essential, particularly in our produc­
tion processes, supplier management and product devel­
opment, as some materials or processes we are currently 
using might become more strictly regulated or even, while 
some applications of our products might become obsolete 
or less viable at the same time. Additionally, we need to 
consider potential taxation of high GWP process gases, 
which might affect our operational costs. 
The following table outlines the most relevant climate-
related risks identified and assessed by Sensirion that 
could impact the supply chain and own operations of 
Sensirion.

127
Sustainability  Sensirion Annual Report 2024
Assessment and management of
climate-related risks in Sensirion’s supply chain and operations
  Climate-related risks
  Time horizon 
  + scenario
   Potential impact
   Sensirion’s measures
   Physical risks (chronic)
 · Higher energy consumption through 
   cooling requirements for production 
   processes
long-term
·	 Higher energy costs in own 
operations
·	 Fossil-free cooling and heating recovery
   systems at the manufacturing sites in    
   Stäfa (CH) and Debrecen (HU)
·	 Piloting in a concept regarding district 
heating coupled with lake cooling in Stäfa
 · Switching-off of air conditioning 
   systems during summer due to energy 
   quota
long-term
·	 Disruptions in production processes
and effect on working conditions 
of employees
·	 Flexibilization of working hours
·	 No installation of continuous production 
processes in affected sites, but assembly 
operations
 · Water shortage affecting foundries 
   in East Asia
long-term
·	 Disruptions in production processes 
of the supply chain might lead to 
poorer planning capability and pro-
duction losses
·	 Diversification of supplier base and dual 
sourcing strategy for key materials
   
   Physical risks (acute) 
 · Inclement weather conditions in Asia
short/
mid-term
·	 Disruptions in the supply chain might 
lead to poorer planning capability 
and production losses
·	 Diversification of supplier base and dual 
sourcing strategy for key materials
   
   Transition risks (policy + legal) 
 · Regulations on reducing leakage 
   and ensuring efficient use of high-GWP      
   process gases
mid-term
 
·	 Production process conversion costs 
   and capital expenditures for alter- 
   native filtration technologies to achieve 
   further leakage reductions
·	 Studying alternative filtration technologies 
to reduce the process gas emissions
·	 Exploration of alternative, less harmful 
chemical gases and investigation of different 
production tools while staying updated with 
manufacturers on advancements
 · Introduction of a taxation with regards 
to high-GWP process gases
mid-term
·	 Increased operation costs
short-term: up to 2 years	
                  	2°C or lower scenario	             	
                 	 low impact	               
mid-term: 2-4 years	
	
	
higher temperature scenario	
	
medium impact
long-term: more than 4 years	
	
	
	
	
	
high impact
Climate-related risks and opportunities in Sensirion’s markets
While climate change presents risks, it also opens up significant opportunities. Several of our sensors 
monitor environmental parameters. They can thus contribute to energy conservation in buildings and 
vehicles as well as household appliances like refrigerators, and can improve quality of life for our cus­
tomers and consumers while creating business opportunities for us. In essence, climate change is 
driving growth opportunities for Sensirion, provided we effectively manage physical and regulatory 
risks to our supply chain and production.
The potentially most relevant climate-related risks and opportunities for Sensirion on the product port­
folio side are outlined in the following table.

128
Sensirion Annual Report 2024  Sustainability
Assessment and management of climate-related risks 
and opportunities in Sensirion’s markets
  Climate-related risks
  and opportunities
  Time horizon 
  + scenario
   Potential impact
   Sensirion’s measures
 ·	 Sensirion reviews today’s challenges 
    and megatrends, such as Industry 4.0, 
    challenges around climate change  
    or the electrification of the car industry
 ·	 Our R&D team screens and evaluates 
 new disruptive technologies while 
 collaborating closely with product 
 management and sales
 ·	 For further information on the innovation   
    approach of Sensirion, please refer to  
    the chapter “Innovation” on pages 88-89   
    of the Sustainability Report.
 · 	 Diversification in markets is part 
 of Sensirion's strategy to have a higher 
    stability in market crises and economic 
    downturns
   Transition risks (market)
   Opportunities (market)
 · Decreasing combustion engine 
  business, whereas the electric vehicles    
   market is expected to grow
 · Change in individual transportation due
   to environmental awareness leading     
   to changes in the number of sold cars
  
 · Shift to new energy sources and need 
   for increased energy efficiency
mid-term
·	 Decreasing sensor volumes for com- 
bustion engines may be offset by growth 
in sensor demand for electric vehicles, 
while most of our automotive applications 
are engine-type independent. 
·	 Less sold cars leading to a loss in demand 
for installed sensor technology
·	 Sensirion can increase sales, market 
share and profitability, whereas misalign-
ment in R&D can pose a risk of wrong 
asset allocation
   
   Opportunities (policy and  legal)  
 · Change to low-GWP refrigerants    
   mandated in the US for air conditioning   
   systems drives the need for refriger-
   ant leakage detection sensors. Increa-   
   sing interest in low GWP-refrigerants 
   can provide also business opportunities
   in Europe and Asia
 · Regulations on uncontrolled methane 
emissions require detection of methane 
leaks in natural gas well
short/
mid-term
·	 Sensirion can increase sales, 
market share and profitability in these 
segments
·	 In the long run, Sensirion could lose some 
sales markets as it is partly depen- 
dent on the oil and gas industry, which is 
likely to decline in the shift towards 
sustainable energy sources
   
   Opportunities (physical-acute)  
 · Forest fires might increase demand for 
   fine dust sensors in forest fire detection
 · Increasing temperatures might increase 
demand for control applications for 
private home HVAC   
mid-term
·	 Increasing demand for products 
might increase sales and market share 
in this segment
short-term: up to 2 years	
                  	2°C or lower scenario	             	
                 	 low impact	               
mid-term: 2-4 years	
	
	
higher temperature scenario	
	
medium impact
long-term: more than 4 years	
	
	
	
	
	
high impact

129
Sustainability  Sensirion Annual Report 2024
First steps in assessing the resilience 
of the business model 
Sensirion’s inaugural Climate Report focuses on providing 
a first indication of potentially relevant climate-related 
risks and opportunities. This first assessment is laying the 
groundwork for future advanced scenario analyses.
Generally, in a scenario where the international community 
intensifies efforts to limit global warming, Sensirion and its 
value chain would potentially face stronger regulatory risks 
on production processes. Conversely, if global warming 
accelerates, Sensirion could be confronted by more supply 
chain disruptions due to extreme weather events. Since 
Sensirion offers products that can support climate change 
mitigation and adaptation, there could be varying levels of 
opportunity in both scenarios. 
More detailed statements about the resilience of the busi- 
ness model are only possible with a detailed scenario ana- 
lyses including a detailed financial impact analysis over 
2019
Introduction of parking 
fee in CH and eco-bonus 
for public transport
First installation of solar 
panels
2020
For business flights, 
we contribute to climate 
protection projects and, 
since 2023, invest in 
sustainable aviation fuels 
at ~10 %
2021
Initial comprehensive 
greenhouse gas accounting 
(Scope 1 and 2) completed 
for further analysis
2022
In CH: gas mix of heating 
system switched to 
25 % renewable biogas and 
initiation of sourcing of 
hydro-power for operations
2023
Solar cell installation at 
our HU site achieved 
over 50 % self-sufficiency 
in summer 2023
2024
Installation of photovoltaic 
system on the roof of 
our production building in 
Stäfa
 
2025
Partnerships with two 
carbon capture and 
removal projects to invest 
in permanent carbon 
removal solutions
2026
Project for district 
heating and lake 
water cooling 
to eliminate fossil 
heating in Stäfa
     	Implemented / confirmed	
  In progress / to be confirmed	
different time horizons. Ongoing discussions among our 
teams are crucial for specifying the climate scenarios and 
evaluating their potential impact on Sensirion. 
Climate strategy & transition plan
Sensirion pledges to the Swiss Federal government a net-
zero target for 2050. The climate transition plan contains 
planned activities to reduce greenhouse gas emissions in 
operations, as well as product innovation approaches to 
support the transition to a low-carbon economy. In addi­
tion, the climate transition plan is for addressing and reduc­
ing climate risks.
Production and supply chain
In 2019, Sensirion kicked off its ambitious journey to decar­
bonize its own operations (Scope 1 and 2). As illustrated in 
the roadmap graph below, Sensirion has successfully per­
formed various initiatives to reduce its carbon footprint of 
its own operations in the past years.
Selected milestones on our journey to decarbonization

130
Sensirion Annual Report 2024  Sustainability
Since 2023, all global production sites have been powered 
by 100 % renewable electricity. Currently, one office build­
ing in Stäfa (Switzerland) and one building in Enschede 
(Netherlands) are still heated with non-renewable energy. 
In order to transition the office building in Stäfa to renew­
able energy supply, Sensirion evaluated a project for dis­
trict heating and lake water cooling. This project is expected 
to start in spring 2026.
The main challenge for further GHG emission reductions at 
Sensirion’s own operations is the use various process 
gases (mainly SF6) at our wafer factory in Switzerland, 
which have a very high global warming potential and cannot 
be completely eliminated. This issue is not unique to Sen­
sirion but is a broader challenge faced by the entire semi­
conductor industry on the path to net zero emissions. In 
2023, Sensirion conducted a comprehensive study, con­
cluding in 2024, to explore alternative filtration technolo­
gies aimed at further reducing our process gas and Scope 
1 emissions. Additionally, we are actively exploring alterna­
tive, less harmful chemical gases and investigating differ­
ent production tools. We maintain ongoing communication 
with tool manufacturers to stay abreast of new advance­
ments in more efficient processes and waste gas treatment 
systems. In parallel, Sensirion is committed to investing in 
carbon removal projects and innovative decarbonization 
technologies from 2025. 
Our current climate roadmap focuses on Scope 1 and 
Scope 2 emissions. In addition to reducing these emissions, 
Sensirion also enhances transparency and accountability 
by subjecting its Scope 1 and Scope 2 emissions to limited 
assurance by an independent auditor. To understand our 
Scope 3 emissions, we have concluded a comprehensive 
analysis of our footprint in 2023. This analysis showed that 
the procurement of materials for production is the most 
significant contributor to Sensirion’s emissions. Once Sen­
sirion has achieved its planned activities to reduce Scope 1 
and 2 emissions, the company will shift its focus to Scope 3 
activities. For more detailed information about our climate 
strategy and roadmap, please refer to the “Climate protec­
tion” chapter in our Sustainability Report.
Innovation and product portfolio
At Sensirion, it is our mission to leverage innovation and 
technology for enhancing quality of life and aiding in the 
reduction of energy consumption and CO2 emissions 
across a broad spectrum of applications, for which we 
already offer several products.
As part of our innovation approach, our R&D team reviews 
today’s challenges and megatrends, such as Industry 4.0, 
challenges around climate change or the electrification of 
the car industry. Since several product opportunities also 
arise for Sensirion from environmental regulation affecting 
our customers, our product management and sales team 
are screening and evaluating the regulatory landscape to 
align the product portfolio and realize market opportunities.
With our environmental sensor solutions, we are com-
mitted to assisting in the adaptation to and mitigation of 
climate change for our customers and end consumers. 
Together with our customers and partners, we explore 
innovative technologies and develop state-of-the-art prod­
ucts that empower our customers to be responsible pro­
viders and leaders in their markets. We strive to make 
more sustainable decisions, particularly in development 
and production. 
The aim is, to increase the use of recyclable materials in 
our products and their packaging to optimize the environ­
mental impact. Several of our sensors play a crucial role in 
reducing energy consumption and greenhouse gas emis­
sions across a variety of applications. For instance, our 
carbon dioxide sensors activate air conditioning only when 
offices are occupied, leading to energy savings and a better 
carbon footprint. 
Highlighted next are selected, recent product examples
currently in the ramp-up phase:

131
Sustainability  Sensirion Annual Report 2024
Gas leakage sensors 
for US air conditioning units
 
Sensirion developed a new series of gas leakage sensors 
with production start in the second half of 2024. The sensors 
will be in line with the US regulations on less climate damag­
ing, but more flammable coolants. 
Our sensor solution for monitoring A2L and A3 refrigerants 
leakage will help ensure a safe transition to a more climate- 
friendly HVAC industry in the coming years. 
Continuous monitoring 
of methane gas emissions in 
oil and  gas industry
Cutting methane emissions from fossil fuels by 75 % by 
2030 is vital to limit global warming to 1.5°C. Sensirion’s 
Nubo Sphere was launched in 2022 for detecting, locating 
and measuring methane leakages from sources like oil and 
gas production plants, sewage treatment or biogas plants. 
While helping to prevent these methane emissions, we also 
recognize the risk associated with this product as it is partly 
dependent on the oil and gas industry, which is likely to 
decline in the shift towards sustainable energy sources. 
EV-mobility sensors
increase energy efficiency of cars 
Sensirion’s humidity, temperature, and CO2 sensors can 
enhance energy efficiency in vehicles by optimizing climate 
control systems. 
This can reduce AC usage, improving overall efficiency and 
extending the range of electric vehicles (EVs).

132
Sensirion Annual Report 2024  Sustainability
Sensirion’s innovative efforts and product portfolio decisions within the company’s overall growth strat­
egy can therefore support both market trends such as the mobility transition towards electric vehicles 
and regulatory trends such as methane sensing regulations towards a low carbon economy. For further 
information on the innovation approach of Sensirion, please refer to the chapter “Innovation” on pages 
88-89 in the Sustainability Report.
Risk management
Annually, Sensirion’s CEO conducts a general risk analysis of the top risks for the business. This analysis 
is based on expert analyses and review assessment and presented to the Executive Committee. The 
findings are presented to the Audit Committee and Board of Directors once a year, and significant risks 
typically prompt strategic responses. General risk management processes are described in more detail 
on page 163 of the Annual Report.
In 2023, climate-related risks and opportunities were explicitly assessed for the first time during a work­
shop, which involved various corporate functions, to ensure a thorough evaluation of potential impacts 
on the value chain and business. In 2024, the identification and assessment of climate-related risks and 
opportunities was reviewed within a workshop of Investor Relations, Supply Chain Management, Product 
Management and Sustainability. The processes for handling climate-related risks and opportunities are 
described with the measures in the tables above on pages 127-128.
For 2024, climate-related risks were assessed with a comparatively lower impact on Sensirion’s business 
than other risks and therefore not explicitly integrated into the general risk management processes. 
Metrics and targets
Energy consumption and greenhouse gas emissions
Since 2022, Sensirion has been reporting its data on energy consumption and Scope 1 and Scope 2 emis­
sions. The energy consumption data and the Scope 1 and 2 emissions for the reporting year 2024 as well 
as the historical emission intensity development (kgCO2e/kCHF contribution profit) are in the Sustaina-
bility Report, detailed on pages 99-100. A first internal analysis of Scope 3 emissions was concluded and 
descriptive results were reported in the Annual Report 2023. In 2024, Sensirion demonstrated its com­
mitment to accountability and accuracy by adopting independent limited assurance for its Scope 1 and 
2 greenhouse gas emissions data.
CO2 reduction targets
The CO2 roadmap is described in the chapter “Strategy” of this Climate Report on pages 125 to 132. For 
further details on the roadmap and planned activities to reduce the Scope 1 and 2 emissions, please 
refer to the chapter ”Climate protection“ in this Sustainability Report on pages 96 to 100.

133
Sustainability  Sensirion Annual Report 2024
GRI Content Index
Sensirion Holding AG has reported in accordance with the GRI Standards for the period 1 January 2024 to 31 December 2024. 
For the Content Index – Essentials Service, GRI Services reviewed that the GRI content index has been presented in a way 
consistent with the requirements for reporting in accordance with the GRI Standards, and that the information in the index 
is clearly presented and accessible to the stakeholders. This service was carried out on the English version of the report.
GRI Standard
Disclosure
Location 
in the Annual Report
Omission
General Disclosure
The organization and its reporting practices
GRI 2: 
General Disclosures 2021
2-1 Organizational details
P. 30, 74
2-2 Entities included in the organization’s 
sustainability reporting
P. 123
2-3 Reporting period, frequency and contact point
P. 123, 133
2-4 Restatements of information
P. 123
2-5 External assurance
P. 123, 137-139
Activities and workers
GRI 2: 
General Disclosures 2021
2-6 Activities, value chain and other business 
relationships
P. 74-75
2-7 Employees
P. 105-107
2-8 Workers who are not employees
P. 105-107
Governance
GRI 2: 
General Disclosures 2021
2-9 Governance structure and composition
P. 121
2-10 Nomination and selection of the highest 
governance body
P. 40, 121
2-11 Chair of the highest governance body
P. 42
2-12 Role of the highest governance body in 
overseeing the management of impacts
P. 121-122
2-13 Delegation of responsibility for managing 
impacts
P. 122
2-14 Role of the highest governance body in 
sustainability reporting
P. 45, 122
2-15 Conflicts of interest
P. 44, 121
2-16 Communication of critical concerns
P. 120
2-17 Collective knowledge of the highest 
­governance body
P. 122
2-18 Evaluation of the performance of the highest 
­governance body
P. 122
2-19 Remuneration policies
P. 121
2-20 Process to determine remuneration
P. 121
2-21 Annual total compensation ratio
P. 121
GRI 1 used 
GRI 1: Foundation 2021
Applicable GRI Sector
Standard(s)
None

134
Sensirion Annual Report 2024  Sustainability
GRI Standard
Disclosure
Location 
in the Annual Report
Omission
Strategy, policies and practices
GRI 2: 
General Disclosures 2021
2-22 Statement on sustainable development 
strategy
P. 79
2-23 Policy commitments
P. 80
2-24 Embedding policy commitments
P. 80, 119-120
2-25 Processes to remediate negative impacts
P. 94, 103, 119-120
2-26 Mechanisms for seeking advice and raising 
concerns
P. 94, 120
2-27 Compliance with laws and regulations
P. 120
2-28 Membership associations
P. 80
Stakeholder engagement
GRI 2: 
General Disclosures 2021
2-29 Approach to stakeholder engagement
P. 81
2-30 Collective bargaining agreements
P. 107
Material topics
Materiality assessment and list of material topics
GRI 3: Material Topics 2021
3-1 Process to determine material topics
P. 82
3-2 List of material topics
P. 83
Economic value creation
Growth
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 86
GRI 201: Economic 
Performance 2016
201-1 Direct economic value generated and 
distributed
P. 86
Innovation
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 88-89
Sustainable products and services
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 90-91
GRI 301: Materials 2016
301-1 Materials used by weight or volume
P. 92
Sustainable supply chain management
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 93-94
GRI 308: Supplier Environ­
mental Assessment 2016 
308-1 New suppliers that were screened using 
environmental criteria
P. 94-95
GRI 414: Supplier Social 
­Assessment 2016
414-1 New suppliers that were screened using 
social criteria
P. 94-95

135
Sustainability  Sensirion Annual Report 2024
GRI Standard
Disclosure
Location 
in the Annual Report
Omission
Corporate environmental and climate protection
Climate protection
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 96-98
GRI 305: Emissions 2016
305-1 Direct (Scope 1) GHG emissions
P. 99
305-2 Energy indirect (Scope 2) GHG emissions
P. 99
305-4 GHG emissions intensity
P. 100
Energy use
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 101
GRI 302: Energy 2016
302-1 Energy consumption within the organization
P. 99
302-3 Energy intensity
P. 100
302-4 Reduction in energy consumption
P. 101
Water and wastewater 
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 102-103
GRI 303: 
Water and Effluents 2018
303-3 Water withdrawal
P. 102-103
Our employees
Company culture and employee satisfaction
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 107-109
GRI 401: Employment 2016
401-1 New employee hires and employee turnover
P. 106
Diversity, equality and inclusion
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 111-112
GRI 405: Diversity and 
Equal Opportunity 2016
405-1 Diversity of governance bodies and employees P. 113
GRI 406: 
Non-discrimination 2016
406-1 Incidents of discrimination and corrective 
actions taken
P. 111
Employee development and training
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 114-116
GRI 404: Training and 
Education 2016
404-1 Average hours of training per year per 
employee
P. 116
404-3 Percentage of employees receiving regular 
performance and career development reviews
P. 116
Ethical business conduct
Compliance and governance
GRI 3: Material Topics 2021
3-3 Management of material topics
P. 119-120
GRI 205: 
Anti-corruption 2016
205-3 Confirmed incidents of corruption and actions 
taken
P. 120
GRI 206: Anti-competitive 
Behavior 2016
206-1 Legal actions for anti-competitive behavior, 
anti-trust, and monopoly practices 
P. 120
Assured by KPMG

136
Sensirion Annual Report 2024  Sustainability
Declaration of the Board 
of Directors
The Board of Directors of Sensirion Holding AG is responsible for the preparation of the Non-Financial Matters Report 
including Climate Disclosures for the financial year 2024 in accordance with the Articles of Association and the Organiza­
tional Regulations.
This Non-Financial Matters Report for the financial year 2024 was prepared in accordance with Article 964a et seq. CO and 
the Ordinance on climate disclosures. The report was approved by the Board of Directors of Sensirion Holding AG.
This Non-Financial Matters Report 2024 will remain accessible on the Company’s website for at least ten years.
Requirements of Art. 964b CO
Referenced chapters in the 
Non-Financial Report
Pages
General information
Business model
Identification of material non-financial matters
Policies
Coverage of undertakings
Key points
Material topics 
Policies and management systems
About this Sustainability Report
P. 74-77 
P. 82-83 
P. 80 
P. 123 
Non-financial matters*
Environmental matters, in particular 
the CO2 goals 
Climate protection 
Energy use 
Water and wastewater 
Sustainable products and services 
P. 96-100
P. 101 
P. 102-103 
P. 90-92 
Social issues
Sustainable products and services
P. 90-92
Employee-related issues
Company culture and employee 
satisfaction 
Diversity, equality and inclusion 
Employee development and 
training
P. 104-110
P. 111-113 
P. 114-116
Respect for human rights
Sustainable supply chain 
management
Compliance and governance
P. 93-95 
P. 119-120 
Combating corruption
Compliance and governance
P. 119-120 
Climate disclosures
Climate Report
Governance 
Strategy 
Risk management 
Metrics and targets 
P. 124-125 
P. 125-132 
P. 132 
P. 132 
*	Risks, policies including due diligence, measures, assessment of effectiveness and main performance indicators are 
presented in the referenced individual chapters. 	
	
Stäfa, March 5, 2025 
Moritz Lechner
Co-Chairman of the Board
Felix Mayer
Co-Chairman of the Board
Marc von Waldkirch
CEO

137
KPMG Assurance Report 
Sustainability  Sensirion Annual Report 2024
 
© 2025 KPMG AG, a Swiss corporation, is a group company of KPMG Holding LLP, which is a mem-
ber of the KPMG global organization of independent firms affiliated with KPMG International Limited, 
a private English company limited by guarantee. All rights reserved. 
 
 
 
Independent limited assurance report on selected 
sustainability information of Sensirion Holding AG 
To the Board of Directors of Sensirion Holding AG, Stäfa, Zurich 
We have undertaken a limited assurance engagement on Sensirion Holding AG (hereinafter “Sensirion”) and its 
subsidiaries (the Group) for the following selected Sustainability Information in the Sustainability Report for the 
year 2024 (hereinafter “Sustainability Information”): 
 
Global Reporting Initiative (GRI) 305-1 and 305-2 related KPIs which are marked as “assured by KPMG” 
in the GRI Content Index table (page 135) 
 
Our Limited Assurance Conclusion 
Based on the procedures we have performed as described under the ‘Summary of the work we performed as the 
basis for our assurance conclusion’ and the evidence we have obtained, nothing has come to our attention that 
causes us to believe that the Sustainability Information is not prepared, in all material respects, in accordance with 
the Sustainability Reporting Criteria. 
We do not express an assurance conclusion on information in respect of earlier periods or future looking infor-
mation included in the Sustainability Report 2024, information included in the Financial Report 2024, information 
included in the Business Report 2024, information linked from the Sustainability Report 2024, information linked 
from the Financial Report 2024 or any images, audio files or embedded videos. 
Understanding how Sensirion Holding AG has Prepared the Sustainability Information 
Sensirion prepared the Sustainability Information using the following criteria (hereinafter referred to as the "Sus-
tainability Reporting Criteria”): 
- 
Global Reporting Initiative (GRI) 2021 Standards 
- 
Greenhouse Gas (GHG) Protocol, Corporate Standard  
Consequently, the Sustainability Information needs to be read and understood together with these criteria. 
Inherent Limitations in Preparing the Sustainability Information 
Due to the inherent limitations of any internal control structure, it is possible that errors or irregularities may occur 
in disclosures of the Sustainability Information and not be detected. Our engagement is not designed to detect all 
internal control weaknesses in the preparation of the Sustainability Information because the engagement was not 
performed on a continuous basis throughout the period and the audit procedures performed were on a test basis. 

138
Sensirion Annual Report 2024  Sustainability
 
 
© 2025 KPMG AG, a Swiss corporation, is a group company of KPMG Holding LLP, which is a mem-
ber of the KPMG global organization of independent firms affiliated with KPMG International Limited, 
a private English company limited by guarantee. All rights reserved. 
 
 
 
Sensirion Holding AG’s Responsibilities 
The Board of Directors of Sensirion Holding AG is responsible for: 
- 
selecting or establishing suitable criteria for preparing the sustainability information, taking into ac-
count applicable law and regulations related to reporting the sustainability information; 
- 
the preparation of the sustainability information in accordance with the criteria; and 
- 
designing, implementing and maintaining internal control over information relevant to the preparation 
of the sustainability information that is free from material misstatement, whether due to fraud or error. 
Our Responsibilities 
We are responsible for: 
- 
planning and performing the engagement to obtain limited assurance about whether the Sustainabil-
ity Information is free from material misstatement, whether due to fraud or error; 
- 
forming an independent conclusion, based on the procedures we have performed and the evidence 
we have obtained; and 
- 
reporting our independent conclusion to the Board of Directors of Sensirion Holding AG. 
As we are engaged to form an independent conclusion on the Sustainability Information as prepared by the Board 
of Directors, we are not permitted to be involved in the preparation of the Sustainability Information as doing so 
may compromise our independence. 
Professional Standards Applied 
We performed a limited assurance engagement in accordance with International Standard on Assurance Engage-
ments 3000 (Revised) Assurance Engagements other than Audits or Reviews of Historical Financial Information 
(ISAE 3000), issued by the International Auditing and Assurance Standards Board (IAASB). 
Our Independence and Quality Control 
We have complied with the independence and other ethical requirements of the International Code of Ethics for 
Professional Accountants (including International Independence Standards) issued by the International Ethics 
Standards Board for Accountants (IESBA Code), which is founded on fundamental principles of integrity, objectiv-
ity, professional competence and due care, confidentiality, and professional behavior.  
Our firm applies International Standard on Quality Management 1, which requires the firm to design, implement 
and operate a system of quality management including policies or procedures regarding compliance with ethical 
requirements, professional standards and applicable legal and regulatory requirements. 
Our work was carried out by an independent and multidisciplinary team including assurance practitioners and sus-
tainability experts. We remain solely responsible for our assurance conclusion. 

139
Sustainability  Sensirion Annual Report 2024
 
 
© 2025 KPMG AG, a Swiss corporation, is a group company of KPMG Holding LLP, which is a mem-
ber of the KPMG global organization of independent firms affiliated with KPMG International Limited, 
a private English company limited by guarantee. All rights reserved. 
 
 
 
Summary of the Work we Performed as the Basis for our Assurance Conclusion 
We are required to plan and perform our work to address the areas where we have identified that a material mis-
statement of the Sustainability Information is likely to arise. The procedures we performed were based on our pro-
fessional judgment. Carrying out our limited assurance engagement on the Sustainability Information included, 
among others: 
- 
assessment of the design and implementation of systems, processes and internal controls for deter-
mining, processing and monitoring sustainability performance data, including the consolidation of 
data; 
- 
inquiries of employees responsible for the determination and consolidation as well as the implemen-
tation of internal control procedures regarding the selected disclosures; 
- 
inspection of selected internal and external documents to determine whether quantitative information 
is supported by sufficient evidence and presented in an accurate and balanced manner;  
- 
assessment of the data collection, validation and reporting processes as well as the reliability of the 
reported data on a test basis and through testing of selected calculations; 
- 
analytical assessment of the data and trends of the quantitative disclosures included in the scope of 
the limited assurance engagement; and 
- 
assessment of the consistency of the disclosures applicable to Sensirion with the other disclosures 
and key figures and of the overall presentation of the disclosures through critical reading of the Sus-
tainability Report 2024. 
The procedures performed in a limited assurance engagement vary in nature and timing from, and are less in ex-
tent than for, a reasonable assurance engagement. Consequently, the level of assurance obtained in a limited as-
surance engagement is substantially lower than the assurance that would have been obtained had we performed a 
reasonable assurance engagement. 
 
KPMG AG 
 
 
 
 
 
Silvan Jurt 
Licensed audit expert 
Cyrill Kaufmann 
Licensed audit expert 
 
Zurich, 10 March 2025 
 


 Finan
cial
Report

142
Sensirion Financial Report 2024
Contents
Financial Report
Consolidated Financial Statements	
144
	
	
Consolidated Income Statement	
144
	
	
Consolidated Balance Sheet	
145
	
	
Consolidated Statement of Cash Flows	
146
	
	
Consolidated Statement of Changes in Equity	
147
Notes to the Consolidated Financial Statements 	
148
	
	
  1	 Information on this report	
148
	
	
  2	 Performance	
149
	
	
  3	 Invested capital	
153
	
	
  4	 Financing and risk management	
160
	
	
  5	 Group structure	
165
	
	
  6	 Other information	
167
	
Auditor’s Report	
171
Financial Statements of Sensirion Holding AG	
177
Notes to the Financial Statements of Sensirion Holding AG	
179
Proposed appropriation of available earnings	
185
Auditor’s Report	
186

143
Sensirion Financial Report 2024

144
Sensirion Financial Report 2024
Consolidated Financial Statements
Consolidated Income Statement
In thousands of CHF, for the year ended 31 December
Note
2024
 in %
2023
Revenue
2.1
 276,501 
18.6 % 
233,167
Cost of sales
 (141,561)
(111,363)
Gross profit
 134,940 
121,804
– as  % of revenue
48.8 %
52.2 %
Research and development expenses
 (82,187)
(54,011)
Selling and distribution expenses
 (35,776)
(39,160)
Administrative expenses
 (35,379)
(34,465)
Operating profit (loss) (EBIT)1
 (18,402)
215.5 % 
(5,832)
– as  % of revenue
(6.7 %)
(2.5 %)
Financial result
2.3
 1,237 
(5,201)
Result of equity-accounted investees
 (4,157)
(608)
Profit (loss) before tax
 (21,322)
(11,641)
Income taxes
2.4
 (7,557)
5,061
Profit (loss) for the period, attributable to owners of Sensirion Holding AG
 (28,879)
338.9 % 
(6,580)
– as  % of revenue
(10.4 %)
(2.8 %)
Earnings per registered share
Basic earnings per registered share (in CHF)
4.3
(1.85)
(0.42)
Diluted earnings per registered share (in CHF)
4.3
(1.85)
(0.42)
Earnings before interest, tax, depreciation and amortization (EBITDA)
Earnings before interest, tax, depreciation and amortization (EBITDA)
1.4
 362 
(96.4 %)
10,118
– as  % of revenue
0.1 %
4.3 %
Adjusted earnings before interest, tax, depreciation and amortization 
(Adjusted EBITDA)
1.4
 28,972 
186.3 %
 10,118
– as  % of revenue
10.5 %
4.3 %
1 Defined as profit or loss for the period before financial result, result of equity-accounted investees and income taxes (EBIT).

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Sensirion Financial Report 2024
Consolidated Balance Sheet
In thousands of CHF
Note 31 December
2024
in %
31 December
2023
in %
Assets
Cash and cash equivalents
4.1
 54,394 
73,062
Trade receivables
3.1
 50,505 
26,233
Prepaid expenses
 3,597 
3,036
Other receivables
3.1
 5,091 
6,178
Inventories
3.2
 67,403 
77,957
Total current assets
 180,990 
52.2 %
186,466
56.1 %
Property, plant and equipment
3.3
 107,749 
95,993
Financial assets
3.4
 17,945 
27,934
Equity-accounted investees
5.2
 20,237 
4,744
Intangible assets
3.5
 20,053 
17,464
Total non-current assets
 165,984 
47.8 %
146,135
43.9 %
Total assets
 346,974 
100.0 %
332,601
100.0 %
Liabilities
Trade payables
 11,088 
6,661
Accrued expenses
 14,297 
3,573
Employee benefits
3.6
 7,924 
7,773
Provisions
3.7
 – 
5
Other liabilities
 5,382 
5,002
Total current liabilities
 38,691 
11.2 %
23,014
6.9 %
Employee benefits
3.6
 2,918 
2,710
Provisions
3.7
 – 
32
Deferred tax liabilities
2.4
 13,462 
11,106
Total non-current liabilities
 16,380 
4.7 %
13,848
4.2 %
Total liabilities
 55,071 
15.9 %
36,862
11.1 %
Equity
Share capital
 1,562 
1,562
Capital reserve
 157,560 
157,458
Treasury shares
 (2,613)
(2,790)
Retained earnings
 135,394 
139,509
Total equity, attributable to owners of Sensirion Holding AG
4.2
 291,903 
84.1 %
295,739
88.9 %
Total liabilities and equity
 346,974 
100.0 %
332,601
100.0 %

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Sensirion Financial Report 2024
Consolidated Statement of Cash Flows
In thousands of CHF, for the year ended 31 December
2024
2023
Cash flows from operating activities
Profit (loss) for the period
 (28,879)
(6,580)
Adjustments for:
–	Depreciation and amortization
 18,764 
15,950
–	Goodwill recycling
 25,583 
–	Gain on sale of property, plant and equipment
 (2)
(56)
–	Other non-cash expense (income)
 371 
2,032
–	Financial result without foreign exchange (gain) loss
 (629)
(667)
–	Result of equity-accounted investees
 4,157 
608
–	Equity-settled share-based payment transactions
 2,223 
1,545
–	Tax expense (income)
 7,557 
(5,061)
Changes in:
–	Trade and other receivables
(23,185)
10,771
–	Prepaid expenses
 (559)
(1,472)
–	Inventories
 10,741 
(17,902)
–	Trade and other payables
5,137
(876)
–	Accrued expenses  
11,081
(899)
–	Employee benefits
 359 
(2,334)
–	Asset from employer contribution reserve (in financial assets)
 5,173 
5,168
–	Provisions
 (37)
(2,013)
Interest and bank charges received (paid)
 (61)
507
Income taxes paid
 (560)
(9,612)
Net cash from operating activities
 37,234 
(10,891)
Cash flows from investing activities
Investments in property, plant and equipment
 (26,016)
(26,884)
Proceeds from sale of property, plant and equipment
 2 
56
Investments in financial assets (equity securities) 
 –  
(12)
Investments in equity-accounted investees
 (19,650)
–
Investments in intangible assets
 (687)
(1,094)
Development expenditure capitalized
 (7,046)
(7,627)
Net cash from investing activities
 (53,397)
(35,561)
Cash flows from financing activities
Repurchase of treasury shares 
 (1,991)
Net cash from financing activities
 (1,991)
–
Net change in cash and cash equivalents
 (18,154)
(46,452)
Cash and cash equivalents at 1 January
 73,062 
123,025
Currency translation
 (514)
(3,511)
Cash and cash equivalents at 31 December
 54,394 
73,062

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Sensirion Financial Report 2024
Attributable to owners of Sensirion Holding AG
In thousands of CHF
Share 
capital
Capital 
reserve
Treasury 
shares
Offset
goodwill
Translation
reserve
Other 
retained 
earnings
Total 
retained 
earnings
Total 
equity
Balance at 1 January 2023
 1,562  156,826 
 (3,774)
 –
 (2,314)  151,845  149,531  304,145 
Restatement 1
 –
 –
 –
 (46,608)
 –
 46,608
 –
 –
Profit (loss) for the period
 –
 –  
 –  
 –
–
(6,580)
(6,580)
(6,580)
Currency translation of foreign operations
 –  
 –  
–
 –
 (3,442)
 –  
(3,442)
(3,442)
Transaction with treasury shares
 –  
 (984)
 984 
 –
–
 –  
–
–
Equity-settled share-based payment transactions
–
1,616
–
 –
–
–
–
1,616
Balance at 31 December 2023
 1,562 157,458
 (2,790)  (46,608)
 (5,756) 191,873
139,509
295,739
Balance at 1 January 2024
 1,562 157,458
 (2,790)  (46,608)
 (5,756) 191,873
139,509
295,739
Profit (loss) for the period
 –
 –  
 –  
 –
–
 (28,879)  (28,879)
(28,879)
Currency translation of foreign operations
 –  
 –  
–
 –
(819)
–
(819)
 (819)
Transaction with treasury shares
 –  
 (2,168)
177
 –
–
–
–
 (1,991)
Goodwill recycling
–
–
–
 25,583 
–
  –    25,583  
 25,583 
Equity-settled share-based payment transactions
–
2,270
–
 –
–
–
–
 2,270 
Balance at 31 December 2024
 1,562  157,560 
 (2,613)  (21,025)
 (6,575)  162,994  135,394  291,903 
1 Adjustment of disclosure due to first-time adoption of Swiss GAAP FER 30 revised.
Consolidated Statement of Changes in Equity

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Sensirion Financial Report 2024
1	 Information on this report
1.1	 Reporting entity
Sensirion Holding AG (the “Company”) is domiciled in Switzerland. The Company’s registered office is at Laubisrütistrasse 50, 
8712 Stäfa. These consolidated financial statements comprise the Company, its subsidiaries (collectively the “Group” and 
individually “Group companies”) and their investments in equity-accounted investees.
Sensirion is one of the world’s leading manufacturers of digital microsensors and microsystems. The product range 
includes environmental sensors for the measurement of humidity and temperature, volatile organic compounds (VOC), 
carbon dioxide (CO2) and particulate matter (PM2.5), gas and liquid flow sensors, differential pressure sensors as well as 
gas leakage sensors. Sensirion also provides sensor solutions and services based on connected sensor and data systems. 
Using Sensirion’s microsensor solutions, OEM customers benefit from the proven CMOSens® Technology.
1.2	 Basis of accounting
The consolidated financial statements have been prepared in compliance with all existing guidelines of Swiss GAAP FER 
(Swiss Accounting and Reporting Recommendations). They provide a true and fair view of the net assets, financial position 
and results of operations and meet the requirements of Swiss law. Sensirion implemented the revised Swiss GAAP FER 
standard 30 “Consolidated financial statements” as of 1 January 2024. The first-time application has no impact on the finan­
cial, liquidity or earnings situation, but on disclosure of the equity table.
The consolidated financial statements are presented in Swiss francs. Unless otherwise stated, all financial information in 
Swiss francs has been rounded to the nearest thousand. For this reason, rounding differences may occur.
The valuation basis used in these consolidated financial statements is based on historical acquisition or production costs, 
unless a standard requires a different valuation basis for an item or a different valuation basis has been used to exercise 
an option. In this case, it is explicitly mentioned in the accounting principles. Accounting principles that are relevant to an 
understanding of the consolidated financial statements are set out in the specific notes. The consolidated income state­
ment is presented according to the activity-based costing method.
1.3	 Use of judgments and estimates
In preparing these consolidated financial statements, management has made judgments, estimates and assumptions that 
affect the application of the Group’s accounting policies and the reported amounts of assets, liabilities, income and 
expenses. Actual results may differ from these estimates. Estimates and underlying assumptions are reviewed on an 
ongoing basis. Revisions to estimates are recognized prospectively. Information about assumptions and estimation uncer­
tainties at 31 December 2024 that have a significant risk of resulting in a material adjustment to the carrying amounts of 
assets and liabilities is included in the following notes:
•	 Note 3.5 – Intangible assets (recoverability of development costs);
•	 Note 3.2 – Inventories (measurement).
Notes to the Consolidated Financial 
Statements

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Sensirion Financial Report 2024
1.4	 Performance measures not defined by Swiss GAAP FER
Internally and externally, the Group uses EBITDA as an additional performance measure, which is not defined by Swiss GAAP 
FER. EBITDA is calculated as the sum of operating profit (loss) and depreciation, amortization and non-recurring restruc­
turing costs related to reorganization. We define adjusted EBITDA as EBITDA, adjusted from certain non-recurring items 
that management believes are not indicative of operational performance. The non-recurring items are expenses from the 
closure of Sensirion Connected Solutions GmbH in Berlin, including Goodwill recycling, impairment loss of the inventory 
and other costs. The non-recurring restructuring costs (CHF 28,607 thousand) in period 2024 are reflected in research 
and development expenses (CHF 26,331 thousand, thereof Goodwill CHF 25,583 thousand), cost of sales (CHF 1,179 thou­
sand), selling and distribution (CHF 867 thousand) and administrative expenses (CHF 230 thousand).
In thousands of CHF,  for the year ended 31 December
2024
2023
Reconciliation of operating profit (loss) to EBITDA for the period
Operating profit (loss) (EBIT)
 (18,402)
 (5,832) 
Depreciation and amortization
 18,764 
 15,950 
Earnings before interest, taxes, depreciation and amortization (EBITDA)
 362 
 10,118 
Adjusted for:
–	Goodwill recycling
 25,583 
–
–	Other restructuring costs related to reorganization
 3,027 
–
Adjusted earnings before interest, tax, depreciation and amortization 
(Adjusted EBITDA) 
 28,972 
 10,118 
2	 Performance
2.1	 Segment reporting and breakdown of revenue
2.1.1	
Basis for segmentation
The Group operates in one industry segment which encompasses the development, production, sales and servicing of 
sensor systems, modules and components. The allocation of resources and performance assessment is made at Group 
level. The Group’s organization is not divided into business units, neither in the management structure nor in the internal 
reporting system.
2.1.2	
Breakdown of revenue
In thousands of CHF, for the year ended 31 December and as % of revenue
2024
2023
Revenue – geographic information by region
APAC 
 113,460 
41.0 %
99,514
42.7 %
EMEA 
 120,364 
43.5 %
106,741
45.8 %
Americas 
 42,677 
15.5 %
26,912
11.5 %
Total 
 276,501 
100.0 %
233,167
100.0 %
The geographic information on revenues in the table above is based on the customers’ location.

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Sensirion Financial Report 2024
As an additional voluntary information, revenue is allocated to end markets as follows:
In thousands of CHF, for the year ended 31 December and as % of revenue
2024
2023
Revenue – per customer market
Automotive
 80,644 
29.2 %
72,460
31.1 %
Medical
 44,552 
16.1 %
44,874
19.2 %
Industrial
 137,295 
49.6 %
100,978
43.3 %
Consumer
 14,010 
5.1 %
14,855
6.4 %
Total 
 276,501 
100.0 %
233,167
100.0 %
Accounting principles
Revenue is measured based on the consideration specified in a contract with a customer and excludes amounts 
­collected on behalf of third parties. The Group recognizes revenue when the risks and benefits incidental to ownership 
are transferred to a customer. The groups contracts generally include a standard warranty clause to guarantee tha­t 
the ­products comply with agreed specifications.
Sensors	
The Group sells its standardized sensors generally via purchase orders to customers (i.e. end customers 
and distributors) and recognizes as revenue when the sensor is delivered to the customer. This generally 
occurs in accordance with the applicable Incoterms which are usually FCA (Free carrier named place of 
delivery) or DAP (Delivered at place). Sales are stated before value added tax, sales tax and after any 
deduction of discounts and credits. Appropriate warranty provisions are recognized for anticipated claims. 
Customers usually pay within 30 to 60 days from the delivery of the products.
2.2	 Expenses by nature
In thousands of CHF, for the year ended 31 December 
2024
2023
Changes in inventories
 (10,554)
17,902
Raw materials and consumables
 (78,923)
(76,974)
Employee benefits
 (132,983)
(134,926)
Depreciation, amortization and impairment loss
 (18,764)
(15,950)
Goodwil recycling
 (25,583)
–
Other
 (28,096)
(29,051)
Total cost of sales, research and development expenses, 
selling and distribution expenses and administrative expenses 
 (294,903)
(238,999)

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Sensirion Financial Report 2024
2.3	 Net finance result
In thousands of CHF, for the year ended 31 December
2024
2023
Finance income
Interest income
 176 
731
Net foreign exchange gains
 2,300 
–
Other financial income
 987 
38
Finance income
 3,463
769
Finance costs
Interest expenses
(84)
(5)
Net foreign exchange losses
(2,024)
(5,868)
Bank charges
(118)
(97)
Finance costs
(2,226)
(5,970)
Net finance result recognized in profit (loss)
 1,237
(5,201)
2.4	
Income taxes
In thousands of CHF, for the year ended 31 December
2024
2023
Current income taxes 
(203)
249
Deferred income taxes 
(7,354)
4,812
Total 
(7,557)
5,061
Average applicable tax rate 
14.0 %
22.0 %
In thousands of CHF
2024
2023
Details on change of tax claims from tax loss carryforwards 
Recognized tax claims from tax loss carryforwards  
6,070
12,783
Unrecognized tax claims from tax loss carryforwards 
15,148
9,978
Total tax claims from tax loss carryforwards 
21,218
22,761
Recognized tax claims from tax loss carryforwards at 1 January
12,783
4,177
Additions
797
8,606
Reassessment
(3,811)
–
Utilization
(3,699)
–
Recognized tax claims from tax loss carryforwards at 31 December
6,070
12,783
The adjusted (restructuring Sensirion Connected Solutions GmbH) effective tax rate of 31.1 % (2023: 41.7 %) has decreased 
compared to the prior period.

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Sensirion Financial Report 2024
The income tax effect from the utilization of non-capitalized loss carryforwards in 2024 amounts to CHF 1,485 thousand 
(2023: CHF 0). In 2024, a reassessment in relation to non-capitalized loss carryforwards lead to the capitalization of 
CHF 1,601 thousand (2023: CHF 961 thousand). In 2024, CHF 956 thousand expired (2023: CHF 25).
The deferred tax assets related to recognized tax claims from tax loss carryforwards amount to CHF 6,070 thousand of 
which CHF 1,485 thousand (2023: CHF 3,937 thousand) were offset with deferred tax liabilities.
 
Accounting principles
Current income tax
Current income tax comprises the expected tax payable or receivable on the taxable income or loss for the year and 
any adjustment to the tax payable or receivable in respect of previous years. It is measured using tax rates enacted or 
substantively enacted at the reporting date. Current tax also includes any tax arising from dividends. Current tax 
assets and liabilities are offset only if certain criteria are met.
Deferred income tax
Deferred income tax is recognized in respect of temporary differences between the carrying amounts of assets and 
liabilities for financial reporting purposes and the amounts used for taxation purposes. Deferred tax is not recognized 
for temporary differences related to investments in subsidiaries and associates to the extent that the Group is able to 
control the timing of the reversal of the temporary differences and it is probable that they will not reverse in the 
foreseeable future.
Deferred tax assets are recognized for unused tax losses, unused tax credits and deductible temporary differences to 
the extent that it can be assumed with sufficient probability that the respective company will have sufficient taxable 
income against which temporary differences and unutilized loss carryforwards can be used. Deferred tax assets are 
reviewed at each reporting date and are reduced to the extent that it is no longer probable that the related tax benefit 
will be realized; such reductions are reversed when the probability of future taxable profits improves. Unrecognized 
deferred tax assets are reassessed at each reporting date and recognized to the extent that it has become probable 
that future taxable profits will be available against which they can be used.
Deferred tax is measured at the tax rates that are expected to be applied to temporary differences when they reverse, 
using tax rates enacted or substantively enacted at the reporting date. The measurement of deferred tax reflects the 
tax consequences that would follow from the manner in which the Group expects, at the reporting date, to recover or 
settle the carrying amount of its assets and liabilities. 
Deferred tax assets and liabilities are offset when the income taxes are levied by the same taxation authority and when 
there is a legally enforceable right to offset them.

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Sensirion Financial Report 2024
3	 Invested capital
3.1	 Trade and other receivables
In thousands of CHF
31 December 2024 
31 December 2023 
Trade receivables, gross 
 50,510 
26,321
Allowance for doubtful receivables 
 (5)
(88)
Total trade receivables 
 50,505 
26,233
Non-income tax receivables 
 2,808 
3,551
Other 
 2,283 
2,627
Total other receivables 
 5,091 
6,178
Trade receivables result from transactions in the ordinary course of business in which Sensirion has provided goods and 
services and has a right to receive the payment.
Accounting principles
Receivables are reported at nominal value. Business default risks are taken into account by individual and general 
value adjustments. General value adjustments are made for items which have not already been subject to individual 
value adjustments. General value adjustments are based on the past experience of Sensirion.
3.2	 Inventories
In thousands of CHF
31 December 2024
31 December 2023
Purchased parts 
 32,937 
41,599
Semi-finished and finished goods 
 35,075 
34,631
Work in progress 
 6,461 
4,750
Total 
 74,473 
80,980
Allowance on purchased parts 
 (4,708)
(1,598)
Allowance on semi-finished and finished goods 
 (2,362)
(1,425)
Total 
 (7,070)
(3,023)
Total inventories 
 67,403 
77,957
Accounting principles
Inventories are measured at the lower of cost and net realizable value. The cost of inventories is based on the weighted 
average method. In the case of manufactured inventories and work in progress, cost includes an appropriate share 
of production overheads based on normal operating capacity. Inventory allowances are recognized for slow- and 
non-moving stock. Technically obsolete items are written off. The valuation of work in progress, semi-finished and 
finished goods is underlying management judgment with regard to planned production capacities which impact stan­
dard costs. Valuation allowances are calculated based on historical experience including management’s judgement 
which directly affects the carrying amount of inventories.

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Sensirion Financial Report 2024
3.3	 Property, plant and equipment 
In thousands of CHF
Land 
and buildings
Production 
facilities
Under 
construction
Other
Total
Cost
Opening amount 1 January 2024 
 61,960 
 110,066 
 11,037 
 23,097 
 206,160 
Additions 
 7,543 
 6,338 
 10,262 
 1,583 
 25,726 
Disposals 
 –  
 (668)
 –  
 (1,862)
 (2,530)
Reclassifications 
 775 
 4,255 
 (6,213)
 1,183 
 –  
Currency translation differences 
 (331)
 (316)
 (254)
 137 
 (764)
Closing amount 31 December 2024
 69,947 
 119,675 
 14,832 
 24,138 
 228,592 
Accumulated depreciation and impairment 
Opening amount 1 January 2024 
 23,364 
 71,142 
 –  
 15,661 
 110,167 
Depreciation 
 2,637 
 8,045 
–
 2,554 
 13,236 
Disposals 
 –
 (761)
 –  
 (1,722)
 (2,483)
Currency translation differences 
 (36)
 (69)
–
 28 
 (77)
Closing amount 31 December 2024 
 25,965 
 78,357 
 –  
 16,521 
 120,843 
Total carrying amount 
 43,982 
 41,318 
 14,832 
 7,617 
 107,749 
Carrying amount pledged as security for liabilities 
–
–
–
–
–
Cost
Opening amount 1 January 2023 
56,154
96,978
8,328
21,520
182,980
Additions 
6,410
14,229
4,588
1,731
26,958
Disposals 
–
(1,620)
–
(224)
(1,844)
Reclassifications 
69
969
(1,731)
693
–
Currency translation differences 
(673)
(490)
(148)
(623)
(1,934)
Closing amount 31 December 2023 
61,960
110,066
11,037
23,097
206,160
Accumulated depreciation and impairment 
Opening amount 1 January 2023 
21,050
66,097
–
13,782
100,929
Depreciation 
2,374
6,869
–
2,375
11,618
Disposals 
–
(1,552)
–
(190)
(1,742)
Currency translation differences 
(60)
(272)
–
(306)
(638)
Closing amount 31 December 2023 
23,364
71,142
–
15,661
110,167
Total carrying amount 
38,596
38,924
11,037
7,436
95,993
Carrying amount pledged as security for liabilities 
–
–
– 
–
–
As of the balance sheet date, prepayments in the amount of CHF 400 thousand (2023: CHF 2,408 thousand) were recog­
nized in property, plant and equipment.

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Sensirion Financial Report 2024
Accounting principles
Recognition and measurement
Items of property, plant and equipment are measured at cost less accumulated depreciation and any accumulated 
impairment losses. If significant parts of an item of property, plant and equipment have different useful life, then 
they are accounted for as separate items (major components) of property, plant and equipment. Any gain or loss on 
­disposal of an item of property, plant and equipment is recognized in the income statement.
Subsequent expenditures
Subsequent expenditure is capitalized only if it is probable that the future economic benefits associated with the 
expenditure will flow to the Group.
Depreciation
Depreciation is calculated to write off the cost of items of property, plant and equipment less their estimated residual 
values using the straight-line method over their estimated useful life and is generally recognized in the income 
­statement. Land is not depreciated. The estimated useful life of property, plant and equipment for the current and 
comparative period is as follows:
Class
Years
Land
No depreciation
Buildings
20-40
Production facilities
2-8
Other property, plant and equipment
4-8
Depreciation methods, useful life and residual values are reviewed at each reporting date and adjusted if appropriate.
3.4	 Financial assets
In thousands of CHF
31 December 2024
31 December 2023
Non-current financial assets
Assets from employer contribution reserve
 9,660 
14,866
Deferred tax assets 
 4,585 
9,368
Investment in MaxWell Biosystems AG
 3,700 
3,700
Total non-current financial assets
 17,945 
27,934
Accounting principles
Investments
Investments with a long-term investment purpose and less than 20 % capital rights are considered financial assets. 
Such investments are recognized at acquisition cost, taking into account any reductions in value (impairment) through 
corresponding devaluations in the income statement.
Assets from employer contribution reserve
Please refer to Note 6.1

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Sensirion Financial Report 2024
3.5	 Intangible assets
In thousands of CHF
Patents and 
trademarks
Development 
costs
Software
Under
construction
Other 
intangibles
Total intangible 
assets
Cost 
Opening amount 1 January 2024 
 11,028 
 23,817 
 3,413 
 6,326 
 2,299 
 46,883 
Additions – internally developed 
 – 
 6,535 
–
 511 
 – 
 7,046 
Additions – separately acquired 
 404 
 – 
 242 
 – 
 466 
 1,112 
Disposals 
 (614)
 (90)
 (31)
 – 
– 
 (735)
Reclassifications 
– 
 6,326 
 – 
 (6,326)
 – 
 – 
Currency translation differences 
 (10)
 – 
– 
 – 
 (5)
 (15)
Closing amount 31 December 2024
 10,808 
 36,588 
 3,624 
 511 
 2,760 
 54,291 
Accumulated amortization and impairment 
Opening amount 1 January 2024
 6,835 
 18,208 
 2,991 
 – 
 1,385 
 29,419 
Amortization 
 1,032 
 3,925 
 217 
 – 
 354 
 5,528 
Disposals 
 (609)
 (90)
 (5)
 – 
 – 
 (704)
Currency translation differences 
 (5)
 – 
 – 
 – 
 – 
 (5)
Closing amount 
 7,253 
 22,043 
 3,203 
 – 
 1,739 
 34,238 
Total carrying amount 31 December 2024
 3,555 
 14,545 
 421 
 511 
 1,021 
 20,053 
Cost 
Opening amount 1 January 2023 
11,009
22,145
3,141
371
2,205
38,871
Additions – internally developed 
–
1,301
–
6,326
–
7,627
Additions – separately acquired 
428
–
302
–
100
830
Disposals 
(390)
–
(29)
–
–
(419)
Reclassifications 
–
371
–
(371)
–
–
Currency translation differences 
(19)
–
(1)
–
(6)
(26)
Closing amount 31 December 2023
11,028
23,817
3,413
6,326
2,299
46,883
Accumulated amortization and impairment 
Opening amount 1 January 2023
6,085
15,533
2,831
–
1,066
25,515
Amortization 
1,147
2,675
190
–
320
4,332
Disposals 
(389)
–
(29)
–
–
(418)
Currency translation differences 
(8)
–
(1)
–
(1)
(10)
Closing amount 
6,835
18,208
2,991
–
1,385
29,419
Total carrying amount 31 December 2023
4,193
5,609
422
6,326
914
17,464

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Accounting principles
Research and Development
Expenditure on research activities is recognized in the income statement as incurred. Development expenditure is 
capitalized only if the expenditure can be measured reliably, the product or process is technically and commercially 
feasible, future economic benefits are probable and the Group intends to and has sufficient resources to complete 
development and to use or sell the asset. Otherwise, it is recognized in the income statement as incurred. Directly attrib­
utable borrowing costs are capitalized as part of the respective development costs. Subsequent to initial ­recognition, 
development expenditure is measured at cost less accumulated amortization and any accumulated impairment losses.
Patents and trademarks
Patents, trademarks and capitalized customer relationships that are acquired by the Group have finite useful lives and 
are measured at cost less accumulated amortization and any accumulated impairment losses.
Amortization
Amortization is calculated to write off the cost of intangible assets less their estimated residual values using the 
straight-line method over their estimated useful life and is generally recognized in the income statement. 
The estimated useful life for the current and comparative period is as follows:
Class
Years
Patents and trademarks
10
Development costs
5
Software
4
Other intangible assets
4-10
Amortization methods, useful life and residual values are reviewed at each reporting date and adjusted if appropriate.

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Effects of the theoretical capitalization of goodwill
In thousands of CHF
2024
2023
Cost at 1 January * 
46,608
46,608
Disposals 
 (25,583)
–
Cost at 31 December 
 21,025 
46,608
Accumulated amortization at 1 January *  
 32,793 
22,844
Amortization for the year 
 4,022 
7,509
Impairment
 – 
2,440
Disposals
 (18,333) 
–
Accumulated amortization at 31 December 
 18,482 
32,793
Theoretical net book value at 31 December 
 2,543 
13,815
Equity according to balance sheet 
 291,903 
295,739
Theoretical book value of goodwill 
 2,543 
13,815
Theoretical shareholders’ equity at 31 December including goodwill 
 294,446 
309,554
Profit (loss) for the year 
 (28,879)
(6,580)
Theoretical amortization of goodwill 
 (4,022)
(7,509)
Impairment
 – 
(2,440)
Theoretical profit (loss) for the year after goodwill amortization 
(32,901) 
(16,529)
* Adjustment of disclosure due to first-time adoption of Swiss GAAP FER 30 revised.
The closure of Sensirion Connected Solutions GmbH in Berlin results in a goodwill recycling and disposal in the theo-
retical capitalization of goodwill.
In the prior year the annual impairment test indicated a need for an impairment of the goodwill associated with Sensirion 
Connected Solutions GmbH. The recoverable amount was determined by discounting scenario-weighted future cash flow 
projections. This resulted in an impairment loss of CHF 2,440 thousand.
Accounting principles
Goodwill is offset with equity at the date of the acquisition of a subsidiary or an investment in an associated company. 
The theoretical capitalization of goodwill with straight-line amortization over five years would impact the consolidated 
balance sheet and consolidated income statement as shown above.
3.6	 Employee benefits
In thousands of CHF
31 December 2024
31 December 2023
Short-term employee benefits 
 7,924 
7,773
Total employee benefit liabilities, current 
 7,924 
7,773
Other long-term employee benefit liabilities
 2,918 
2,710
Total employee benefit liabilities, non-current 
 2,918 
2,710

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Accounting principles
Short-term employee benefits
Short-term employee benefits are expensed as the related service is provided. A liability is recognized for the amount 
expected to be paid if the Group has a present legal or constructive obligation to pay this amount as a result of past 
service provided by the employee and the obligation can be estimated reliably.
Other long-term employee benefits
The Group’s net obligation in respect of other long-term employee benefits is the amount of future benefit that 
­employees have earned in return for their service in the current and prior periods. That benefit is discounted to deter­
mine its present value. Remeasurements are recognized in the income statement in the period in which they arise.
3.7	 Provisions 
31 December 2024
In thousands of CHF
Warranty provisions
Total
Current provisions 
–
–
Non-current provisions 
–
–
Total provisions 
–
–
Opening amount 1 January 2024 
37
37
Utilization
–
–
Reversal 
(37)
(37)
Currency translation differences
–
–
Closing amount 31 December 2024 
–
–
31 December 2023
In thousands of CHF
Warranty provisions
Total
Current provisions 
5
5
Non-current provisions 
32
32
Total provisions 
37
37
Opening amount 1 January 2023 
2,050
2,050
Utilization
–
–
Reversal 
(1,738)
(1,738)
Currency translation differences
(275)
(275)
Closing amount 31 December 2023
37
37
The warranty provisions have been estimated based on incurred warranty expenses to date as well as expected future 
costs. The calculation is based on various weighted scenarios and discounted with a discount rate of 0.0 % (2023: 3.5 %).

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Accounting principles
Provisions are recognized when the Group has a present obligation as a result of a past event and it is probable that 
an outflow of resources will be required to settle the obligation, and a reliable estimate can be made of the amount of 
the obligation. The amount recognized as a provision is the best estimate of the expenditure required to settle the 
present obligation at the balance sheet date. Where the effect of the time value of money is material, the amount 
recognized is the present value of the estimated expenditures.
Provisions for warranty commitments are recognized as a consequence of the Group’s policy to cover the cost of 
repair of defective products.
3.8	 Contingent liabilities and other commitments
In thousands of CHF
31 December 2024
31 December 2023
Operating lease liabilities
Due within 1 year 
 5,041 
4,042
Due within 1 to 5 years
15,787
13,628
Due after more than 5 years
 11,877 
9,374
Total undiscounted lease payments 
32,705
27,044
As of the balance sheet date, the company has committed investment obligations amounting to CHF 7,500 thousand 
related to the acquisition of land and properties (2023: CHF 10,850 thousand).
Accounting principles
Contingent liabilities and other obligations not to be recognized are valued and disclosed on each balance sheet date.
Payments from operating leases are recognized in the income statement on a straight-line basis over the lease term.
4	 Financing and risk management
4.1	 Cash and cash equivalents
In thousands of CHF
31 December 2024
31 December 2023
Cash and bank accounts 
 54,394 
73,062
Cash and cash equivalents 
 54,394 
73,062
Accounting principles
Cash and cash equivalents are defined as short-term, liquid financial investments that are readily convertible to 
defined cash amounts within 90 days from the balance sheet date. 

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4.2	 Equity
4.2.1	
Share capital
As of 31 December 2024, the fully paid-up share capital of the parent company, Sensirion Holding AG, in the total amount 
of CHF 1,561,572.30  (2023: CHF 1,561,572.30) is divided into 15,615,723 registered shares (2023: 15,615,723) with a nominal 
value of CHF 0.10. Holders of these shares are entitled to dividends and to one vote per share at general meetings of the 
Company. All rights attached to the Company’s shares held by the Group are suspended until those shares are reissued. 
4.2.2	 Capital range
The Company has an authorized share capital in the form of a capital range. The capital range as of 31 December 2024 is 
CHF ±156,157.20 (corresponding to ±10 % of the share capital) and amounts to CHF 1,405,415.10 or 14,054,151 shares 
(lower limit) and to CHF 1,717,729.50 or 17,177,295 shares (upper limit). The Board of Directors is authorized within the 
capital range to increase or reduce the share capital. The capital range replaced the authorized share capital from the 
previous year.
4.2.3	 Conditional capital
As in the previous year, the Company’s conditional capital as of 31 December 2024 amounts to CHF 285 thousand, encom­
passing 2,845,064 shares each with a nominal value of CHF 0.10.
The Company’s conditional capital is composed as follows:
In shares
31 December 2024 
31 December 2023 
Conditional share capital for employee participations
 1,389,247
1,389,247
Conditional share capital for financing, acquisitions and other purposes
1,455,817
1,455,817
Total conditional share capital
 2,845,064
2,845,064
4.2.4	 Non-distributable legal reserves
Non-distributable legal reserves amounted to CHF 2,925 thousand as at 31 December 2024 (previous year: CHF 3,102 
thousand).
4.2.5	 Nature and purpose of reserves
4.2.5.1	Capital reserve
The capital reserve comprises share premiums, the gain or loss on sale of treasury shares, the effect of modification of 
cash-settled to equity-settled plans and the effects of equity-settled share-based payment transactions, including any 
tax effects such as excess tax deductions. 

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4.2.5.2	Treasury shares
The reserve for the Company’s treasury shares comprises the cost of the Company’s shares directly held by the Group. 
As of 31 December 2024, the Group held 36,079 of the Company’s registered shares (2023: 30,650 registered shares). The 
treasury shares held at 31 December 2024 account for 0.23 % of the issued capital (2023: 0.20 % of the issued capital).
Ø Transaction 
price in CHF 
Number of 
registered shares 
Balance in 
thousands of CHF
Balance at 1 January 2023
57,450
3,774
Allocations from share-based payment plan
100.36
(26,800)
(984)
Closing amount 31 December 2023
30,650
2,790
Balance at 1 January 2024
 30,650 
 2,790 
Purchase treasury shares
 66.37 
 30,000 
 1,991 
Allocations from share-based payment plan
 79.15 
 (24,571)
 (2,168)
Closing amount 31 December 2024
 36,079 
 2,613 
The transaction prices corresponded to the respective market prices. For shares allocated in the current period, the 
average acquisition costs per share amounted to CHF 79.15 (previous year: CHF 36.70).
Accounting principles
When shares recognized as equity are repurchased, the amount of the consideration paid, which includes directly 
attributable costs, net of any tax effects, is recognized as a deduction from equity. Repurchased shares are classified 
as treasury shares and are presented in the treasury shares reserve. When treasury shares are sold or reissued 
­subsequently, the amount received is recognized as an increase in equity and the resulting surplus or deficit on the 
transaction is presented within the capital reserve.
4.2.5.3	Translation reserve
The translation reserve comprises all foreign currency differences arising from the translation of the financial statements 
of foreign operations, including foreign currency differences on dedicated intra-group loans.
4.2.5.4	Retained earnings
The retained earnings include the accumulated net profit or loss of the Group and offsetting of goodwill.
4.3	 Earnings per registered share
4.3.1	
Basic earnings per share
The weighted-average number of registered shares for the period ended 31 December 2024 for the purpose of calculating 
basic earnings per registered share amounts to 15,601,677 (2023: 15,584,341).
4.3.2	 Diluted earnings per share
The calculation of diluted earnings per share has been based on the profit or loss attributable to ordinary shareholders as 
presented in the consolidated income statement and the weighted-average number of registered shares outstanding after 
adjustment for the effects of all dilutive potential ordinary shares.
The weighted-average number of registered shares for the purpose of calculating diluted earnings per registered share 
amounts to 15,601,677 (2023: 15,584,341).

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The potential dilutive effect results from the outstanding restricted share units under the bonus and restricted share unit 
plan. The effects of all potential ordinary shares in the reporting year are anti-dilutive and therefore not considered in the 
diluted earnings per share.            
4.4	 Capital management
The objectives when managing capital are to safeguard the Group’s ability to continue as a going concern in order to provide 
returns for shareholders and benefits for other stakeholders, and to maintain an optimal capital structure. In order to maintain 
or adjust the capital structure, the Group may repay capital to shareholders, issue new capital or sell assets to reduce debt.
By ensuring the Group adheres to defined debt/equity ratio covenant limits and other covenants under the Group’s financing 
arrangements, management meets the primary capital risk objective.
In thousands of CHF
31 December 2024
31 December 2023
Total liabilities
 (55,071)
(36,862)
Less: cash and cash equivalents
 54,394 
73,062
Net cash (debt)
 (677)
36,200
Total equity
 291,903 
295,739
Net cash (debt) to equity ratio
(0.2 %)
12.2 %
4.5	 Financial risk management
The Group’s international operations expose it to a variety of financial risks, such as credit, liquidity, market and currency risks.
4.5.1	
Risk management framework
The Company’s Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk man­
agement framework. The Group’s management is assisted in its oversight role by internal audits. Internal audits take place 
on both a regular and ad-hoc basis, the results of which are reported to the Group’s management and the Company’s 
Board of Directors.
4.5.2	 Credit risk
Credit risk is the risk of incurring financial loss when a counterparty to a financial instrument fails to meet its contractual 
obligations. 
Credit risks are most likely to be associated with trade receivables and cash or cash equivalents. The Group minimizes the 
credit risk associated with cash and cash equivalents by only doing business with reputable financial institutions and 
by dealing with a range of such institutions rather than just one. To reduce the risk associated with trade receivables, 
customers are subject to internal credit limits. Creditworthiness is reviewed on an ongoing basis according to internal 
guidelines. Credit limits are set based on financial situation, previous experience and other factors. The Group’s extensive 
customer base, which covers a variety of regions and sectors, means that the credit risk on receivables is limited. For 
incurred and expected losses on receivables, value adjustments are recognized. In the past, actual losses have not 
exceeded the management’s expectations. Details of concentration of revenue are included in Note 2.1.
The Group’s policy is to provide financial guarantees to subsidiaries. At 31 December 2024, the Company has issued a 
guarantee to certain banks in respect of credit facilities granted to Sensirion AG in the amount of CHF 40,000 thousand 
(2023: CHF 40,000 thousand). The credit line is used with a guarantee to CHF 1,701 thousand as of 31 December 2024 
(2023: CHF 473 thousand).

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4.5.3	 Liquidity risk
A liquidity risk arises if future payment obligations of the Group cannot be covered by its available liquidity or correspond­
ing credit facilities. The Group’s objective when managing liquidity is to ensure, as far as possible, that it will have sufficient 
liquidity to meet its liabilities when they are due, under both normal and stressed conditions, without incurring unaccept­
able losses or risking damage to the Group’s reputation. Suitable processes are in place within the Group with which cash 
inflows or outflows and maturities are monitored and controlled on an ongoing basis.
Within the frame of a rolling liquidity plan, the Group ensures that sufficient liquidity to cover the short-term operational 
needs is continuously available. Within the liquidity plan, the Group includes cash and cash equivalents, lines of credit and 
possibilities to increase share capital. As part of the Group’s liquidity management, lines of credit are maintained.
4.5.4	 Market risk
Market risk is the risk that changes in market prices – such as foreign exchange rates and interest rates – will affect the 
Group’s income or the value of its holdings of financial instruments.
4.5.5	 Currency risk
The functional currencies of the Group companies are in the currency of the local legislation. The Group is exposed to 
currency risk to the extent that there is a mismatch between the currencies in which sales, purchases and borrowings are 
denominated and the respective functional currencies of the Group companies. The main exposure arises from sales trans­
actions denominated in USD and EUR and other currencies deviating from the functional currency of the respective Group 
company. Generally, cash flows generated by the underlying operations of the Group are primarily in USD, EUR and CHF 
or in the currency of the local legislation. The Group’s cash outflows are denominated mainly in CHF due to the significant 
amount of personnel costs generated in Switzerland. To a certain extent, there is an economic hedge by sourcing activities 
in USD and EUR.
The following significant exchange rates have been applied:
Average rate
Year-end spot rate
In CHF
2024
2023
2024
2023
Euro (EUR) 1
0.9638
0.9857
0.9419
0.9281
US Dollar (USD) 1
0.8872
0.9146
0.9038
0.8401
South-Korean Won (KRW) 1,000
0.6574
0.7015
0.6143
0.6506
4.5.6	 Interest risk
The Group has no significant interest-bearing financial assets. Therefore, the income is not exposed to significant interest 
rate risk. Furthermore, the tenure for fixing interest rates on financial liabilities are one year as maximum. Therefore, interest 
rate risk is not considered to be significant for the Group.

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Sensirion Financial Report 2024
5	
Group structure
5.1	 Changes in the scope of consolidation
Following the decision to end activities in condition monitoring in April 2024, Sensirion Connected Solutions GmbH was 
closed at the end of June 2024. This closure is reflected in the income statement in the current period with the costs 
(non-cash) of recycling goodwill (CHF 25.6 million) and other non-recurring restructuring costs (CHF 3.0 million).
In the first half of 2023 the subsidiary IRsweep AG based in Switzerland was merged into the Sensirion AG. The merge 
was approved by the board of directors and the commercial register on 30 June 2023 with retroactive effect of 1 January 
2023. An impairment test of the theoretical book value of the Goodwill associated with IRsweep AG was performed after 
the decision by the board with the result, that no impairment of the theoretical book value was needed. 
5.2	 Subsidiaries
The Company has direct or indirect control over the following subsidiaries or significant influence over the following 
associates.
For the year ended 31 December
2024
2023
Consoli­
dation
Company, principal place of business
Share capital
in %
Voting rights
in %
in %
Voting rights
in %
Sensirion AG, Stäfa (Switzerland)
CHF
2,000,000
100
100
100
100
Sensirion China Co. Ltd., Shenzhen (China)
CNY
1,260,000
100
100
100
100
Sensirion Inc., Chicago (USA)
USD
660,000
100
100
100
100
Sensirion Japan Co. Ltd., Yokohama (Japan)
JPY
25,000,000
100
100
100
100
Sensirion Korea Co. Ltd., Anyang-Si 
(South Korea)
KRW
100,000,000
100
100
100
100
Sensirion Taiwan Co. Ltd., Hsinchu 
(Taiwan)
TWD
25,000,000
100
100
100
100
Sensirion Hungary Kft., Debrecen (Hungary) 
HUF
3,210,000
100
100
100
100
Sensirion Europe GmbH, Gerlingen
(Germany)
EUR
25,000
100
100
100
100
Sensirion Automotive Solutions AG, 
Stäfa (Switzerland)
CHF
100,000
100
100
100
100
Sensirion Automotive Solutions Inc., 
Eaton Rapids (USA)
USD
250,000
100
100
100
100
Sensirion Automotive Solutions Korea Co. Ltd., 
Seoul (South Korea)
KRW
38,543,000,000
100
100
100
100
Sensirion Automotive Solutions (Shanghai) Co. 
Ltd., Shanghai (China)
CNY
28,450,000
100
100
100
100
Sensirion Automotive Solutions Hungary Kft., 
Debrecen (Hungary)
HUF
3,100,000
100
100
100
100
Sensirion Connected Solutions AG, 
Stäfa (Switzerland)
CHF
100,000
100
100
100
100
Sensirion Connected Solutions GmbH,
Berlin (Germany)
EUR
30,870
100
100
100
100
Sensirion Connected Solutions Inc., 
Chicago (USA)
USD
2,631,099
100
100
100
100
Qmicro B.V., Enschede (Netherlands)
EUR
1,000
100
100
100
100
Lumiphase AG, Stäfa ­(Switzerland)1
CHF
353,529
49
36
49
36
∆
1 Participation in capital increase (CHF 19,650 thousand).
Consolidation
 Fully consolidated company          ∆ Equity method

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Sensirion Financial Report 2024
Accounting principles
Business combinations
Business combinations are accounted for using the acquisition method. The assets including previously unrecog­
nized intangible assets that are relevant to the decision to obtain control and liabilities of the acquired company are 
valued at fair values using uniform accounting policies. The differences between the cost of acquisition and the fair 
value of the net assets acquired are recognized as goodwill and offset with equity. In a step acquisition the acquired 
net assets are recognized on the balance sheet at their fair value when control is obtained. Goodwill is determined as 
the difference between the cost of acquisition and the pro rate net assets and is calculated separately for each acqui­
sition step. The valuation differences between the fair values and the carrying amounts on previously held equity 
interests are recognized in equity. Profit or losses that result from the sale of shares are recognized in the income 
statement. If a sale of shares leads to a loss of control, or a loss of significant influence, the remaining interest is 
valuated as part of pro rate net assets under consideration of the pro rate (negative) goodwill. Transaction costs in 
connection with acquisitions and divestments are recognized directly in the income statement. Upon acquisition of 
minority interests in a fully consolidated company, the difference between the purchase price and the propor-
tional carrying amount of the minority interests is recognized as goodwill and directly offset with equity in retained 
earnings.
Purchase price components that are contingent on future events are considered part of the purchase price at the 
acquisition date if an outflow of funds is likely. Changes stemming from the subsequent measurement of the result­
ing liability on future balance sheet dates will lead to an adjustment of the goodwill recognized on the balance sheet, 
or the offset (negative) goodwill. 
Subsidiaries
Subsidiaries are entities controlled by the Group. The Group controls an entity directly or indirectly, either by holding 
more than half of the voting rights or by having the power to govern their operating and financial policies. The financial 
statements of subsidiaries are included in the consolidated financial statements from the date on which control 
­commences until the date on which control ceases.
Associated companies
Companies in which Sensirion Group can exercise a decisive influence are included in the consolidation using the 
equity method. The investment is valued at the Group’s share of the equity, and the Group’s share of the net result is 
included in the consolidated income statement. A decisive influence is assumed if the Group holds at least 20 % but 
less than 50 % of the voting rights. Goodwill arising from the acquisition of an associated company is offset with equity.
Transactions eliminated on consolidation
Intra-group balances and transactions, and any income and expenses arising from intra-group transactions, are 
eliminated. Unrealized gains arising from transactions with equity-accounted investees are eliminated against the 
investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as 
unrealized gains, but only to the extent that there is no evidence of impairment.
Foreign currency transactions in Group companies
Transactions in foreign currencies are translated into the respective functional currencies of Group companies at the 
exchange rates at the dates of the transactions. Monetary assets and liabilities denominated in foreign currencies are 
translated into the functional currency at the exchange rate at the reporting date. Foreign currency differences are 
generally recognized in the income statement. Non-monetary items that are measured based on historical cost in a 
foreign currency are not translated.
Translation of financial statements to be consolidated
Group financial statements are presented in Swiss francs. Assets and liabilities of Group companies with a functional 
currency other than the Swiss franc are translated at the exchange rates at the reporting date, equity is translated at 

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Sensirion Financial Report 2024
historical rates, while the income statement is translated using average rates for the reporting period. Any resulting 
exchange differences are recognized in shareholders’ equity. 
Translation differences on long-term loans which are similar in nature to equity are posted in translation reserves in 
equity. In the event of loss of control of a subsidiary or loss of significant influence of an associate, the corresponding 
accumulated exchange differences of foreign companies recognized in equity are reclassified to the income statement.
6	 Other information
6.1	 Pension benefit obligations
The Group has pension plans in Switzerland and South Korea in accordance with the relevant national regulations. The Swiss 
plan is the most important, as the majority of staff operate from Switzerland. 
6.1.1	
Economical benefit/economical obligation and pension benefit expenses
In thousands of CHF 
Surplus/
Deficit
Economical part of the
organization
Change 
from 
previous 
year
Contributions 
concerning 
the business 
period
Pension benefit 
expenses within 
personnel expenses
31 Dec 2024 31 Dec 2024 31 Dec 2023
2024
2024
2024
2023
Pension funds without surplus/deficit 
–
–
–
–
6,115
6,115
5,970
Total economical benefit/economical obligation 
and pension benefit expenses 
–
–
–
–
6,115
6,115
5,970
Swiss employees are insured with Servisa Sammelstiftung (renamed from “Swisscanto Sammelstiftung”). As of 31 Decem­
ber 2024, the statutory funding ratio of this pension plan is 108.6 % (31 December 2023: 103.0 %). Due to the comprehensive 
solidarities in the pension fund, the surplus cannot be allocated to the affiliated companies. Therefore, no economic share 
of the Group can be claimed.
6.1.2	
Employer contribution reserves (ECR)
In thousands of CHF 
Nominal 
value
Waiver
of use
Balance 
sheet
Accumu-
lation
Balance 
sheet
Result from ECR in 
personnel expenses
31 Dec 2024
2024
31 Dec 2024
2024
31 Dec 2023
2024
2023
Pension funds
9,660
–
9,660
–
14,866
5,206
5,167
Total employer contribution reserves 
9,660
–
9,660
–
14,866
5,206
5,167
The employer contributions for the Swiss entities in the current financial year were charged to the employer contribution reserves.
Accounting principles
Assets and liabilities from employee benefits (incl. employer contribution reserve)
The employee benefit plans are either financially independent entities and foundations outside of the Group (funded 
plans) or unfunded plans with a corresponding liability in the balance sheet. Financing is provided by employee and 
employer contributions. The actual economic impact of all employee benefit plans that provide benefits for retirement, 
death or disability are calculated as at the balance sheet date. In the case of foreign plans, the provisions calculated 
according to local regulations are included in the consolidated financial statements. A benefit resulting from employer 
contribution reserves is recognized as an asset. Any additional economic benefit (from a surplus in pension fund 
cover) is not capitalized. An economic obligation is recognized as a liability if the conditions for the recognition of a 
provision are met.

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Sensirion Financial Report 2024
6.2	 Share-based payment arrangement
6.2.1	
Description of share-based payment arrangement
At 31 December 2024, the Group had the following share-based payment arrangement.
Bonus and Restricted Share Unit Plan (settlement choice for employees and equity-settled for members of the 
Executive Committee)
The Group established a recurring bonus program under which an eligible employee who has not given or received notice 
of termination may choose between the payment of its annual bonus entirely in cash (“Cash Bonus”) or entirely in shares 
of the Company and additional RSU (“Equity Bonus”), provided that the employee has not been given notice of termination 
for cause by its employer. For the Equity Bonus, the number of shares is determined by dividing the bonus amount by the 
average price of the Company’s shares on the SIX Swiss Exchange over a period of time before the date of the allocation 
of the shares. Such shares may not be sold, otherwise transferred, pledged or made the object of hedging transactions for 
a period of three years after the end of the election period. The number of RSU granted within the Equity Bonus will be 
determined by the Group in its sole discretion at the grant date. The RSU vest over a period of three years starting from 
the end of the election period.
The number of shares granted to employees amounts to 28,915 (2023: 10,002) and the number of RSU granted amounts to 
7,366 (2023: 2,659). The fair value of one share at grant date amounts to CHF 54.80 (2023: CHF 85.10) and the fair value of 
one RSU at grant date amounts to CHF 54.80 (2023: CHF 85.10). The values correspond to the listed share price of the 
Company’s shares at grant date.
Contrary to employees, members of the Executive Committee have no settlement choice; they will receive their annual 
bonus entirely in the form of an Equity Bonus. Approval of the aggregate amount of variable compensation for the Execu­
tive Committee by Sensirion Holding AG’s Annual General Meeting pursuant to the Articles of Association of the Company 
is required. All other conditions are similar to the other employees. The number of shares granted to members of the 
Executive Committee amounts to 1,458 (2023: 503) and the number of RSU granted amounts to 1,259 (2023: 364). The 
estimated fair value of one share at grant date amounts to CHF 55.30 (2023: CHF 83.30) and the estimated fair value of 
one RSU at grant date amounts to CHF 55.30 (2023: CHF 83.30). The values correspond or are derived from the listed 
share price of the Company’s shares at 31 December 2024. These estimated fair values will be updated to reflect the 
circumstances at the date of the next Annual General Meeting.
For 2024, the Group granted a total annual bonus amount of CHF 4,689 thousand (2023: CHF  2,321 thousand). The amount 
is split between cash bonus of CHF 2,551 thousand (2023: CHF 1,171 thousand) and equity bonus of CHF 2,138 thousand 
(2023: CHF 1,150 thousand).
6.2.2	 Outstanding instruments at the reporting date
Details on the number of instruments outstanding under the share-based payment arrangements at the reporting date 
are as follows:
In units 
31 December 2024
31 December 2023
Restricted share units – Bonus and Restricted Share Unit Plan 
23,462
30,777

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Sensirion Financial Report 2024
6.2.3	 Reconciliation of outstanding RSU
The number and weighted-average exercise prices of RSU under the share-based payment arrangements were as follows:
In options
Number of RSU 
Weighted-average 
exercise price 
(in CHF)
2024
Outstanding at 1 January
 30,777 
0.10
Exercised during the year
 (14,066)
0.10
Granted during the year
 8,625 
0.10
Forfeited during the year
 (1,874)
0.10
Outstanding at 31 December
 23,462 
0.10
Exercisable at 31 December
–
–
2023
Outstanding at 1 January
36,810
0.10
Exercised during the year
(5,660)
0.10
Granted during the year
3,042
0.10
Forfeited during the year
(3,415)
0.10
Outstanding at 31 December
30,777
0.10
Exercisable at 31 December
–
–
The RSU outstanding at 31 December 2024 had an exercise price of CHF 0.10 (31 December 2023: CHF 0.10) and a 
weighted-average contractual life of 1.6 years (31 December 2023: 0.9 years). 
Accounting principles
Cash-settled share-based payment transactions
The fair value of the amount payable to employees is recognized as an expense with a corresponding increase in 
­liabilities. The liability is remeasured to fair value at each reporting date and at settlement date. Any changes in the 
liability is recognized as part of personnel costs.
Equity-settled share-based payment transactions
The grant-date fair value of equity-settled share-based payment arrangements granted to employees is generally 
recognized as an expense, with a corresponding increase in equity, over the vesting period of the awards, if any. The 
amount recognized as an expense is adjusted to reflect the number of awards for which the related service condition, 
if any, is expected to be met, such that the amount ultimately recognized is based on the number of awards that meet 
the related service condition at the vesting date.
Share-based payment transactions with settlement choice for the counterparty
When the counterparty has a choice of settlement in a share-based payment transaction, the Group grants a com­
pound financial instrument which includes a debt component (i.e. the counterparty’s right to demand payment in cash) 
and an equity component (i.e. the counterparty’s right to demand settlement in equity instruments rather than in cash). 
The Group first measures the fair value of the debt component and then measures the fair value of the equity compo­
nent. The fair value of the debt component is recognized over the vesting period, if any, as employee benefit expenses 
with a corresponding entry to cash-settled share-based payment liabilities, whereas the equity component is recog­
nized as employee benefit expenses with a corresponding entry to capital reserves. At the date of settlement, the 
Group remeasures the cash-settled share-based payment to its fair value. If the counterparty chooses to receive 
equity instruments, the remeasured liability is transferred directly to capital reserves.

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Sensirion Financial Report 2024
6.3	 Related parties
As part of its normal business activities, the company maintains relations with associated companies as well as transac­
tions with key management personnel.
Transactions with key management personnel
There were no transactions with key management personnel outside of the ordinary compensation from their activities as 
employees or as specifically appointed bodies.
Other related party disclosures
In thousands of CHF
31 December 2024
31 December 2023
Trade receivables
–
317
In thousands of CHF, for the year ended 31 December
2024
2023
Sales and other income
1,537
1,234
6.4	 Subsequent events
The consolidated financial statements were approved for publication by the Board of Directors on 10 March 2025. The 
approval of the consolidated financial statements by the shareholders will take place at the Annual Shareholders’ Meeting. 
No events have occurred between 31 December 2024 and 10 March 2025 which would necessitate adjustments to the 
carrying values of the Sensirion Group’s assets or liabilities, or which require additional disclosure.  

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Sensirion Financial Report 2024
 
 
 
2 
Statutory Auditor's Report 
To the General Meeting of Sensirion Holding AG, Stäfa 
Report on the Audit of the Consolidated Financial Statements 
Opinion 
We have audited the consolidated financial statements of Sensirion Holding AG and its subsidiaries (the Group), 
which comprise the consolidated balance sheet as at 31 December 2024 and the consolidated statement of in-
come, consolidated statement of changes in equity and consolidated statement of cash flows for the year then 
ended, and notes to the consolidated financial statements, including a summary of significant accounting policies. 
 
In our opinion, the consolidated financial statements (pages 144 to 170) give a true and fair view of the consoli-
dated financial position of the Group as at 31 December 2024, and its consolidated results of operations and its 
consolidated cash flows for the year then ended in accordance with Swiss GAAP FER and comply with Swiss law. 
Basis for Opinion 
We conducted our audit in accordance with Swiss law and Swiss Standards on Auditing (SA-CH). Our responsibili-
ties under those provisions and standards are further described in the “Auditor’s Responsibilities for the Audit of 
the Consolidated Financial Statements” section of our report. We are independent of the Group in accordance with 
the provisions of Swiss law and the requirements of the Swiss audit profession and we have fulfilled our other ethi-
cal responsibilities in accordance with these requirements. 
 
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opin-
ion. 
 
 
Key Audit Matters 
 
REVENUE RECOGNITION 
 
COSTING OF WORK IN PROGRESS, SEMI-FINISHED AND FINISHED GOODS 
 
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of 
the consolidated financial statements of the current period. These matters were addressed in the context of our 
audit of the consolidated financial statements as a whole, and in forming our opinion thereon, and we do not pro-
vide a separate opinion on these matters. 
 
 
 
 
 
 
Auditor’s Report

172
Sensirion Financial Report 2024
 
 
 
3 
 
REVENUE RECOGNITION 
Key Audit Matter 
Our response 
Revenue is the basis for evaluating the course of busi-
ness of the Group and is thus a focus area of internal 
target setting and external expectations. These expec-
tations create potential pressure on management to 
achieve the set targets, which leads to an increased risk 
in revenue recognition, in particular the risk that the ac-
crual principle is not correctly applied. 
We analysed the processes set up to ensure a correct 
application of the accrual principle. We identified inter-
nal controls with regards to revenue recognition and 
tested the design and implementation of selected con-
trols. 
 
Furthermore, we performed amongst others, the follow-
ing procedures: 
 
− We evaluated the application of the accrual principle 
as of 31 December 2024 on a sample basis by com-
paring invoices to delivery papers and assessing the 
effect of incoterms. 
 
− We inspected a sample of credit notes issued after 
year-end and evaluated whether the related adjust-
ments to revenue had been recognised in the appro-
priate financial period. 
 
− We assessed profit margins and deviation analyses, 
identifying significant or unusual deviations to prior 
year and to our expectations. We discussed such 
analyses with management and where appropriate 
corroborated with additional documentation. 
 
 
Additionally, we identified transactions that deviated 
from the standard processes, such as entries with unu-
sual counter-entries, for further investigation and vali-
dated the existence and accuracy of this population. 
 
For further information on revenue recognition refer to the following: 
— Note 2.1 to the consolidated financial statements 
 
 
 
 
 
 
 
 
 
 
 

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Sensirion Financial Report 2024
 
 
 
4 
 
COSTING OF WORK IN PROGRESS, SEMI-FINISHED AND FINISHED GOODS 
Key Audit Matter 
Our response 
Work in progress, semi-finished and finished goods 
amount to mCHF 39.2 as of 31 December 2024 and 
therefore form a significant part of the Group’s invento-
ries. 
 
The business is characterized by high precision serial 
production with significant values added during the 
manufacturing process. 
 
During the manufacturing process, standard costs are 
used to allocate fixed and variable overhead costs to 
the produced goods. Standard costs underly manage-
ment judgement with regards to planned production ca-
pacities. Furthermore, input data such as personnel and 
depreciation costs as well as calculation methods of 
standard costs directly affect the carrying amount of in-
ventories. 
Our audit procedures in this area included, amongst 
others:  
− Challenging the Group’s calculation of standard cost 
rates on a sample basis by comparing key parame-
ters such as personnel and depreciation costs used 
in the calculation to the underlying actual data and 
relevant documentation. 
 
− Inspecting on a sample basis whether cost compo-
nents included or excluded in the standard cost rates 
is appropriate.  
 
− Assessing on a sample basis if fixed and variable 
overhead costs were appropriately considered based 
on normal production capacities. 
For further information on costing of work in progress, semi-finished and finished good refer to the following: 
— Note 3.2 to the consolidated financial statements 
 
 
 
 
 

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Sensirion Financial Report 2024
 
 
 
5 
Other Information 
The Board of Directors is responsible for the other information. The other information comprises the information 
included in the Annual Report, but does not include the consolidated financial statements, the stand-alone financial 
statements of the company, the compensation report and our auditor’s reports thereon. 
 
Our opinion on the consolidated financial statements does not cover the other information and we do not express 
any form of assurance conclusion thereon. 
 
In connection with our audit of the consolidated financial statements, our responsibility is to read the other infor-
mation and, in doing so, consider whether the other information is materially inconsistent with the consolidated fi-
nancial statements or our knowledge obtained in the audit or otherwise appears to be materially misstated. 
 
If, based on the work we have performed, we conclude that there is a material misstatement of this other infor-
mation, we are required to report that fact. We have nothing to report in this regard. 
Board of Directors’ Responsibilities for the Consolidated Financial Statements 
The Board of Directors is responsible for the preparation of the consolidated financial statements, which give a 
true and fair view in accordance with Swiss GAAP FER and the provisions of Swiss law, and for such internal con-
trol as the Board of Directors determines is necessary to enable the preparation of consolidated financial state-
ments that are free from material misstatement, whether due to fraud or error. 
 
In preparing the consolidated financial statements, the Board of Directors is responsible for assessing the Group’s 
ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the 
going concern basis of accounting unless the Board of Directors either intends to liquidate the Group or to cease 
operations, or has no realistic alternative but to do so. 
Auditor’s Responsibilities for the Audit of the Consolidated Financial Statements 
Our objectives are to obtain reasonable assurance about whether the consolidated financial statements as a whole 
are free from material misstatement, whether due to fraud or error, and to issue an Auditor’s Report that includes 
our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in 
accordance with Swiss law and SA-CH will always detect a material misstatement when it exists. Misstatements 
can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably 
be expected to influence the economic decisions of users taken on the basis of these consolidated financial state-
ments. 
 
As part of an audit in accordance with Swiss law and SA-CH, we exercise professional judgment and maintain pro-
fessional scepticism throughout the audit. We also:  
— Identify and assess the risks of material misstatement of the consolidated financial statements, whether due to 
fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that 
is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstate-
ment resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, 
intentional omissions, misrepresentations, or the override of internal control. 
— Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are 
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the 
Group’s internal control 

175
Sensirion Financial Report 2024
 
 
 
6 
— Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates 
and related disclosures made.  
— Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, 
based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions 
that may cast significant doubt on the Group’s ability to continue as a going concern. If we conclude that a ma-
terial uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures in 
the consolidated financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclu-
sions are based on the audit evidence obtained up to the date of our auditor’s report. However, future events 
or conditions may cause the Group to cease to continue as a going concern. 
— Evaluate the overall presentation, structure and content of the consolidated financial statements, including the 
disclosures, and whether the consolidated financial statements represent the underlying transactions and 
events in a manner that achieves fair presentation. 
— Plan and perform the group audit to obtain sufficient appropriate audit evidence regarding the financial infor-
mation of the entities or business units within the Group as a basis for forming an opinion on the consolidated 
financial statements. We are responsible for the direction, supervision and review of the audit work performed 
for purposes of the group audit. We remain solely responsible for our audit opinion. 
We communicate with the Board of Directors or its relevant committee regarding, among other matters, the 
planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal 
control that we identify during our audit. 
 
We also provide the Board of Directors or its relevant committee with a statement that we have complied with rele-
vant ethical requirements regarding independence, and communicate with them all relationships and other matters 
that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate 
threats or safeguards applied. 
 
From the matters communicated to the Board of Directors or its relevant committee, we determine those matters 
that were of most significance in the audit of the consolidated financial statements of the current period and are 
therefore the key audit matters. We describe these matters in our auditor’s report, unless law or regulation pre-
cludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter 
should not be communicated in our report because the adverse consequences of doing so would reasonably be 
expected to outweigh the public interest benefits of such communication. 
 
 

176
Sensirion Financial Report 2024
 
 
 
7 
Report on Other Legal and Regulatory Requirements 
In accordance with article 728a para. 1 item 3 CO and PS-CH 890, we confirm that an internal control system ex-
ists, which has been designed for the preparation of the consolidated financial statements according to the instruc-
tions of the Board of Directors. 
 
We recommend that the consolidated financial statements submitted to you be approved. 
 
KPMG AG 
 
 
 
 
{{Signatureleft}} 
{{Signatureright}} 
Silvan Jurt 
Licensed Audit Expert 
Auditor in Charge 
Keshia Ponato 
Licensed Audit Expert 
 
 
Zurich, 10 March 2025 
 
 
KPMG AG, Badenerstrasse 172, CH-8036 Zurich 
 
© 2025 KPMG AG, a Swiss corporation, is a group company of KPMG Holding LLP, which is a member of the KPMG global organization of independent firms affiliated with 
KPMG International Limited, a private English company limited by guarantee. All rights reserved. 

177
Sensirion Financial Report 2024
Income Statement
In thousands of CHF, for the year ended 31 December
Note
2024
2023
Revenue from royalties
1.7
 6,083 
6,151
Total income
 6,083 
6,151
Personnel expenses
 (1,041) 
(1,038)
Other operating expenses
 (1,298) 
(1,446)
Impairment losses on financial assets and investments
2.6
 (15,866) 
(26,876)
Amortization on intangible assets
(1)
(5)
Financial income
2.7
1,626
1,790
Financial expense
2.7
(178)
(1,952)
Income taxes
 (45) 
365
Total expenses
(16,803)
(29,162)
Profit (loss) for the year
(10,720)
(23,011)
Financial Statements 
of Sensirion Holding AG

178
Sensirion Financial Report 2024
Balance Sheet
In thousands of CHF
Note
31 December 2024
31 December 2023
Assets
Cash and cash equivalents
 3,323 
38,449
Other short-term receivables
–	from third parties
125 
120
–	from companies in which the entity holds an investment
2,637 
1,391
Prepaid expenses and accrued income
 86 
189
Total current assets
6,171
40,149
Financial assets
2.1
62,006
65,630
Investments
2.2
 68,200 
47,958
Property, plant and equipment
2.3
–	Land and buildings
 7,325 
250
Intangible assets
 2 
2
Total non-current assets
137,533
113,840
Total assets
143,704
153,989
Liabilities
Trade payables
–	to third parties
269
38
–	to companies in which the entity holds an investment
218
218
Other liabilities
–	to third parties
68
60
Accrued expenses
207
62
Total current liabilities
762
378
Provisions
51
–
Total non-current liabilities
51
–
Total liabilities
813
378
Equity
Share capital
 1,562 
1,562
Legal capital reserves
2.5
–	Reserves from capital contributions
 132,671 
132,671
–	Other capital reserves
 4,649 
4,649
Legal retained earnings
–	General legal retained earnings in the narrower sense
 603 
603
–	Reserves for treasury shares
2.4
 2,613 
2,790
Voluntary retained earnings
–	Retained earnings brought forward
11,513
34,347
–	Profit (loss) for the year
(10,720)
(23,011)
Total equity
142,891
153,611
Total liabilities and equity
143,704
153,989

179
Sensirion Financial Report 2024
1	 Principles
1.1	 General aspects
These financial statements were prepared according to the principles of the Swiss Law on Accounting and Financial 
Reporting (32nd title of the Swiss Code of Obligations). Where not prescribed by law, the significant accounting and 
valuation principles applied are described below. It should be noted that, to ensure the company’s going concern, the 
company’s financial statements may be influenced by the creation and release of hidden reserves.	
	
1.2	 Financial assets
Financial assets include long-term loans. Loans granted in foreign currencies are translated at the exchange rate at the 
balance sheet date, unrealized losses are recognized immediately whereby unrealized profits are not recognized. Invest­
ments with a long-term investment purpose and less than 20 % capital rights are considered financial assets. Investments 
with long-term investment purpose with more than 20 % capital rights are considered investments.	
	
1.3	 Investments
Investments are recognized at acquisition costs less impairment.	 	
	
	
	
.
1.4	 Property, plant and equipment
Property, plant and equipment is valued at acquisition or production cost less accumulated depreciation and less value 
adjustments. The building is depreciated on a straight-line basis without immediate depreciation. If there are signs of over­
valuation, the carrying amounts are reviewed and adjusted if necessary.	
	
	
1.5	 Treasury shares
Treasury shares are held in the subsidiary Sensirion AG.
1.6	 Share-based payments
The purpose of the Bonus and Restricted Share Plan (see Note 6 of the Consolidated Financial Statements) is to provide 
eligible employees with an opportunity to participate in the creation of long-term shareholder value of the Sensirion Group. 
Members of the Executive Committee shall be awarded their bonus in the form of an equity bonus only, not having the right 
to choose between a cash bonus and an equity bonus. Except for exceptions as determined by the Executive Committee, 
eligible employees who are awarded a bonus from time to time may choose between
	
(a)	payment of the bonus in cash (the cash bonus); or
	
(b)	payment of the bonus in shares of Sensirion Holding AG (shares) and additional restricted share units (RSUs), in each 
case subject to the terms, conditions and restrictions set forth in the plan.
An eligible employee can only elect to receive either the full bonus in the form of a cash bonus or an equity bonus. The 
number of shares to be awarded shall be determined by dividing the bonus amount by an average price of the shares as 
quoted on the SIX Swiss Exchange over a period of time prior to the date of allocation of the shares as determined by 
Sensirion Holding AG in its sole discretion, rounded down to the nearest full number of shares. The number of RSUs to be 
awarded shall be determined by Sensirion Holding AG in its sole discretion.
Notes to the Financial Statements 
of Sensirion Holding AG

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Sensirion Financial Report 2024
1.7	 Revenue from royalties
Sensirion Holding AG charges its subsidiaries royalties. The royalties are based on the revenue that is generated by the 
subsidiaries using the patented technology of Sensirion Holding AG.	
	
	
	
	
1.8	 Foregoing a cash flow statement and additional disclosures in the notes
As Sensirion Holding AG has prepared its consolidated financial statements in accordance with a recognized accounting 
standard (Swiss GAAP FER), it has decided to forego presenting additional information on interest-bearing liabilities and 
audit fees in the notes as well as a cash flow statement in accordance with the law.	 	
	
	
.
2	 Disclosure on balance sheet and income 
statement items
2.1	 Financial assets
In thousands of CHF
31 December 2024
31 December 2023
Non-current financial assets
Investment in MaxWell Biosystems AG
3,700
3,700
Loans to subsidiaries
58,306
61,930
Total non-current financial assets
62,006
65,630

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Sensirion Financial Report 2024
2.2 Investments
In thousands of CHF
31 December 2024
31 December 2023
a) Direct investments
Company, location
Share capital
in %
Share capital
in %
Sensirion AG, Stäfa (Switzerland)
CHF
2,000,000
100
2,000,000
100
Sensirion China Co. Ltd., Shenzhen (China)
CNY
1,260,000
100
1,260,000
100
Sensirion Inc., Chicago (USA)
USD
660,000
100
660,000
100
Sensirion Japan Co. Ltd., Yokohama (Japan)
JPY
25,000,000
100
25,000,000
100
Sensirion Korea Co. Ltd., Anyang-Si (South Korea)
KRW
100,000,000
100
100,000,000
100
Sensirion Taiwan Co. Ltd., Hsinchu (Taiwan)
TWD
25,000,000
100
25,000,000
100
Sensirion Hungary Kft., Debrecen (Hungary)
HUF
3,210,000
100
3,210,000
100
Sensirion Europe GmbH, Gerlingen (Germany)
EUR
25,000
100
25,000
100
Sensirion Automotive Solutions AG, Stäfa (Switzerland)
CHF
100,000
100
100,000
100
Sensirion Connected Solutions AG, Stäfa (Switzerland)
CHF
100,000
100
100,000
100
Qmicro B.V., Enschede (Netherlands)
  
EUR
1,000
100
1,000
100
Lumiphase AG, Stäfa (Switzerland) 
CHF
353,529
49
212,517
49
b) Significant indirect investments
Sensirion Automotive Solutions Inc., Eaton Rapids (USA)
USD
 250,000 
100
250,000
100
Sensirion Automotive Solutions Korea 
Co. Ltd., Seoul (South Korea)
KRW  38,543,000,000 
100
38,543,000,000
100
Sensirion Automotive Solutions 
(Shanghai) Co. Ltd., Shanghai (China)
CNY
 28,450,000 
100
28,450,000
100
Sensirion Automotive Solutions Hungary Kft., 
Debrecen (Hungary)
HUF
 3,100,000 
100
3,100,000
100
Sensirion Connected Solutions GmbH, Berlin (Germany)
EUR
30,870
100
30,870
100
Sensirion Connected Solutions Inc., Chicago (USA) 
USD
2,631,099
100
2,631,099
100
2.3 Property, plant and equipment
The position property, plant and equipment includes land purchased in the current period for TCHF 6,100 and capitalized 
planning costs for a new building amounting to TCHF 1,225. 	
	

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Sensirion Financial Report 2024
2.4 Treasury shares
Held by subsidiary Sensirion AG
In thousands of CHF
2024
2023
Treasury shares nom. CHF 0.10
Stock at 1 January in shares
30,650
57,450
Book value at 1 January
2,790
3,774
Purchases in shares
30,000
–
Purchase price
1,991
–
Allocations from share-based payment plans in shares
(24,571)
(26,800)
Allocation price
(2,168)
(984)
Stock at 31 December in shares
36,079
30,650
Book value at 31 December
2,613
2,790
2.5	 Legal capital reserves
Reserves from capital contributions in the amount of CHF 132,671 thousand have been confirmed by the Federal Tax 
Authority.
2.6	 Impairment losses on financial assets and investments
In the current year the impairment losses on financial assets and investments include an impairment on an intercompany 
loan to Sensirion Connected Solutions GmbH in the amount of CHF 15,866 thousand due to restructuring activities within 
the group. The annual impairment test indicated no need for an impairment on the investments.
In the prior year the impairment test resulted in an impairment loss on the investments in Sensirion Connected Solutions 
AG of CHF 26,876 thousand.
2.7	 Financial result
In thousands of CHF, for the year ended 31 December 
2024
2023
Financial income
1,626
1,790
Financial expenses
(178)
(1,952)
Total
(1,448)
(162)
The financial income of CHF 1,626 thousand (prior year: CHF 1,790 thousand) mainly includes interest income from loans 
to subsidiaries of CHF 1,286 thousand (prior year: CHF 1,326 thousand), income from fixed deposits of CHF 139 thousand 
(prior year: CHF 414 thousand) and valuation differences of exchange gains. Financial expenses in the amount of CHF 178 
thousand mainly includes interest expenses from loans to subsidiaries of CHF 90 thousand (prior year: CHF 0 thousand). 
In the prior year financial expenses included valuation differences of financial assets and exchange losses.

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Sensirion Financial Report 2024
3	 Other information
3.1	 Full-time equivalents
Sensirion Holding AG has no employees.
3.2	 Collateral provided for liabilities of third parties
Collateral provided for liabilities of third parties amount to CHF 40,000 thousand (prior year: CHF 40,000 thousand). These 
are guarantees issued on behalf of subsidiaries of which CHF 1,701 thousand (prior year: CHF 473 thousand) are used.
3.3	 Letter of comfort
Sensirion Holding AG has undertaken to provide Sensirion Automotive Solutions AG (as a supplier to a customer) with the 
necessary financial resources on an ongoing basis. The obligation to provide financial resources amounts to EUR 4,500 
thousand per calendar year and to a maximum total amount of EUR 45,000 thousand during the term of the contract. This 
contract may be terminated for the first time on 31 December 2046 with 12 months’ notice.	
	
	
3.4	 Equity-settled share-based payment transactions
Value in thousands of CHF
2024
2023
Quantity
Value
Quantity
Value
Allocated shares to employees excluding the EC
28,915
1,611
10,002
791
Allocated RSUs to employees excluding the EC
7,366
406
2,659
221
Total
36,281
2,015
12,661
1,013

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Sensirion Financial Report 2024
3.5	 Shares held by members of the Board of Directors 
and the Executive Committee 
The members of the Board of Directors and the Executive Committee (including related parties) held the following number 
of shares and RSUs as of 31 December: 	
	
	
	
	
	
	
	
 
Board of Directors 
2024
2023
Shares
RSUs
Shares
RSUs
Dr. Moritz Lechner, Co-Chairman
 845,743 
–
 854,462 
–
Dr. Felix Mayer, Co-Chairman 1
 839,462 
–
854,462
–
Ricarda Demarmels, member
 250 
–
250
–
François Gabella, resigned 13 May 2024
n/a
n/a
–
–
Dr. Franz Studer, member
–
–
–
–
Anja König, member
 1,157 
–
 1,157 
–
Henri Mrejen, member, since 13 May 2025
     –
–
      n/a
n/a
Total Board of Directors
 1,686,612
–
 1,710,331 
–
Executive Committee2
2024
2023
Shares
RSUs
Shares
RSUs
Dr. Marc von Waldkirch, CEO
 46,802 
 1,118 
45,784
1,032
Dr. Franziska Brem, VP Operations
 2,218 
255
1,970
79
Matthias Gantner, CFO 2
 8,611 
– 
9,012
449
Rahel Meuwly, VP Human Resources
272
172 
–
–
Dr. Andrea Orzati, VP Marketing & Sales 3
     n/a 
n/a 
13,473
–
Dr. Johannes Schumm, VP Research & Development
 7,117 
 667 
 6,532
606
Simon Sonderfeld, VP Marketing & Sales 4
–
–
n/a
n/a
Total Executive Committee
 65,020 
 2,212 
 76,771 
 2,166 
1 Related parties: including shares held by Fondation des Fondateurs, Zürich, Switzerland.
2 Matthias Gantner retired as of 31 December 2024.
3 Dr. Andrea Orzati, VP Marketing & Sales, decided to take on new challenges and left Sensirion effective 30 April 2024.
4 Simon Sonderfeld joined the Executive Committee as VP Marketing & Sales effective as of 1 November 2024. 

185
Sensirion Financial Report 2024
4	
Subsequent events
There are no significant events after the balance sheet date which could impact the book value of the 
assets or liabilities, or which should be disclosed here.
Proposed appropriation 
of ­available earnings
In thousands of CHF
2024
Retained earnings brought forward
11,513 
Net loss for the year
(10,720)
Available earnings
793
The Board of Directors proposes to the General Meeting of Shareholders the following appropriation 
of available earnings.
In thousands of CHF
2024
Balance to be carried forward
793

186
Sensirion Financial Report 2024
Auditor’s Report
 
 
 
2 
Statutory Auditor's Report 
To the General Meeting of Sensirion Holding AG, Stäfa 
Report on the Audit of the Financial Statements 
Opinion 
We have audited the financial statements of Sensirion Holding AG (the Company), which comprise the balance 
sheet as at 31 December 2024 and the income statement for the year then ended, and notes to the financial state-
ments, including a summary of significant accounting policies. 
 
In our opinion, the financial statements (pages 177 to 185) comply with Swiss law and the Company’s articles of 
incorporation. 
Basis for Opinion 
We conducted our audit in accordance with Swiss law and Swiss Standards on Auditing (SA-CH). Our responsibili-
ties under those provisions and standards are further described in the “Auditor’s Responsibilities for the Audit of 
the Financial Statements” section of our report. We are independent of the Company in accordance with the provi-
sions of Swiss law and the requirements of the Swiss audit profession, and we have fulfilled our other ethical re-
sponsibilities in accordance with these requirements. 
 
We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opin-
ion. 
Key Audit Matters 
Key audit matters are those matters that, in our professional judgment, were of most significance in our audit of the 
financial statements of the current period. We have determined that there are no key audit matters to communicate 
in our report. 
Other Information 
The Board of Directors is responsible for the other information. The other information comprises the information 
included in the Annual Report, but does not include the consolidated financial statements, the stand-alone financial 
statements of the Company, the compensation report and our auditor’s reports thereon. 
 
Our opinion on the financial statements does not cover the other information and we do not express any form of 
assurance conclusion thereon. 
 
In connection with our audit of the financial statements, our responsibility is to read the other information and, in 
doing so, consider whether the other information is materially inconsistent with the financial statements or our 
knowledge obtained in the audit or otherwise appears to be materially misstated. 
 
If, based on the work we have performed, we conclude that there is a material misstatement of this other infor-
mation, we are required to report that fact. We have nothing to report in this regard. 
 
 

187
Sensirion Financial Report 2024
 
 
 
3 
Board of Directors’ Responsibilities for the Financial Statements 
The Board of Directors is responsible for the preparation of the financial statements in accordance with the provi-
sions of Swiss law and the Company’s articles of incorporation, and for such internal control as the Board of Direc-
tors determines is necessary to enable the preparation of financial statements that are free from material misstate-
ment, whether due to fraud or error. 
 
In preparing the financial statements, the Board of Directors is responsible for assessing the Company’s ability to 
continue as a going concern, disclosing, as applicable, matters related to going concern and using the going con-
cern basis of accounting unless the Board of Directors either intends to liquidate the Company or to cease opera-
tions, or has no realistic alternative but to do so. 
Auditor’s Responsibilities for the Audit of the Financial Statements 
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free 
from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opin-
ion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accord-
ance with Swiss law and SA-CH will always detect a material misstatement when it exists. Misstatements can 
arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be 
expected to influence the economic decisions of users taken on the basis of these financial statements. 
 
As part of an audit in accordance with Swiss law and SA-CH, we exercise professional judgment and maintain pro-
fessional scepticism throughout the audit. We also:  
— Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or er-
ror, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient 
and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting 
from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omis-
sions, misrepresentations, or the override of internal control. 
— Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are 
appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the 
Company’s internal control. 
— Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates 
and related disclosures made.  
— Conclude on the appropriateness of the Board of Directors’ use of the going concern basis of accounting and, 
based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions 
that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a 
material uncertainty exists, we are required to draw attention in our auditor’s report to the related disclosures 
in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are 
based on the audit evidence obtained up to the date of our auditor’s report. However, future events or condi-
tions may cause the Company to cease to continue as a going concern.  
We communicate with the Board of Directors or its relevant committee regarding, among other matters, the 
planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal 
control that we identify during our audit. 
 

188
Sensirion Financial Report 2024
4 
We also provide the Board of Directors or its relevant committee with a statement that we have complied with rele-
vant ethical requirements regarding independence, and communicate with them all relationships and other matters 
that may reasonably be thought to bear on our independence, and where applicable, actions taken to eliminate 
threats or safeguards applied. 
From the matters communicated to the Board of Directors or its relevant committee, we determine those matters 
that were of most significance in the audit of the financial statements of the current period and are therefore the 
key audit matters. We describe these matters in our auditor’s report, unless law or regulation precludes public dis-
closure about the matter or when, in extremely rare circumstances, we determine that a matter should not be com-
municated in our report because the adverse consequences of doing so would reasonably be expected to out-
weigh the public interest benefits of such communication. 
Report on Other Legal and Regulatory Requirements 
In accordance with article 728a para. 1 item 3 CO and PS-CH 890, we confirm that an internal control system ex-
ists, which has been designed for the preparation of the financial statements according to the instructions of the 
Board of Directors. 
Based on our audit in accordance with Art. 728a para. 1 item 2 CO, we confirm that the proposal of the Board of 
Directors complies with Swiss law and the Company's articles of incorporation. We recommend that the financial 
statements submitted to you be approved.  
KPMG AG 
Keshia Ponato 
Licensed Audit 
Expert 
Silvan Jurt 
Licensed Audit Expert 
Auditor in Charge 
Zurich, 10 March 2025 
KPMG AG, Badenerstrasse 172, CH-8036 Zurich 
© 2025 KPMG AG, a Swiss corporation, is a group company of KPMG Holding LLP, which is a member of the KPMG global organization of independent firms affiliated with 
KPMG International Limited, a private English company limited by guarantee. All rights reserved. 

Financial calendar
11 March 2025
2024 full-year results and Annual Report
12 May 2025
2025 Annual General Meeting
20 August 2025
2025 half-year results and Interim Report
Contact
For further information, please contact:
Lars Dünnhaupt, Director Investor Relations 
Phone: +41 44 544 1627
lars.duennhaupt@sensirion.com	
Shareholder information
Valor symbol
SENS
Reuters symbol
SENSI.S
Bloomberg symbol
SENS.SW
Valor number
40,670,512
ISIN
CH 040 670512 6
End of fiscal year
31 December
Exchange
SIX Swiss Exchange
Trading currency
CHF
Listed since
22 March 2018
Number of issued shares 
(as recorded in the commercial register)
15,573,350 
Nominal value
CHF 0.10
Accounting standard
Swiss GAAP FER

Certain statements in this document are forward-looking statements, including, but not limited to, those using words such 
as “believe”, “assume”, “expect” and other similar expressions. Such forward-looking statements are based on assump­
tions and expectations and, by their nature, involve known and unknown risks, uncertainties and other factors that could 
cause actual results, performance or achievements to differ materially from those expressed or implied by the forward- 
looking statements. Such factors include, but are not limited to, future global economic conditions, changed market 
conditions, competition from other companies, effects and risks of new technologies, costs of compliance with applicable 
laws, regulations and standards, diverse political, legal, economic and other conditions affecting markets in which 
Sensirion operates, and other factors beyond the control of Sensirion. In view of these uncertainties, you should not 
place undue reliance on forward-looking statements. Sensirion disclaims any intention or obligation to update any 
forward-looking statements, or to adapt them to future events or developments.
Sensirion uses certain key figures to measure its performance that are not defined by Swiss GAAP FER. These alternative 
performance measures may not be comparable to similarly titled measures presented by other companies. Additional 
information on these key figures can be found at https://www.sensirion.com/alternative-performance-measures.
This document is not an offer to sell, or a solicitation of offers to purchase, any securities.
Imprint
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Phone: +41 44 306 40 00 · info@sensirion.com
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Sensirion AG
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Sustainserv GmbH
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