Growth and market share gains – Cicor thrives in a challenging environment

Ad hoc announcement pursuant to Art. 53 LR

Bronschhofen, October 15, 2024 – The Cicor Group (SIX Swiss Exchange: CICN) continued its growth path in the third quarter of 2024. Quarterly sales increased by 26.3% to CHF 120.4 million (YTD: CHF 351.7 million, an increase of 19.4%). The order intake of CHF 121.1 million corresponds to a book-to-bill rate of 1.01.

The almost balanced development of organic sales and the book-to-bill ratio in the quarter under review demonstrate Cicor's strength. Cicor's focus on its three core markets and its close customer relationships should enable it to continue outperforming the market in the future. In addition, Cicor will continue to drive the consolidation of the European market through acquisitions, as the company sees attractive value creation opportunities in a highly fragmented market. Cicor will thus remain the fastest growing and one of the most profitable electronics manufacturers in Europe.

Provided that there is no significant downturn in geopolitical, economic and financial conditions, Cicor continues to expect sales growth to reach CHF 470-510 million and EBITDA to reach CHF 50-60 million for the full year 2024.

The Cicor Group is a globally active provider of full-cycle electronic solutions from research and development to manufacturing and supply chain management. Cicor’s approximately 3,300 employees at 19 locations are serving leaders from the medical, industrial and aerospace & defence industries. Cicor creates value to its customers through the combination of customer-specific development solutions, high-tech components, as well as electronic device manufacturing. The shares of Cicor Technologies Ltd. are traded at the SIX Swiss Exchange (CICN). For further information, please visit the website www.cicor.com.