Cicor Technologies : expects around 30 percent growth in the first half-year due to strong business performance
June 16, 2022 at 01:03 am EDT
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Cicor expects around 30 percent growth in the first half-year due to strong business performance
Ad hoc announcement pursuant to Art. 53 LR
Bronschhofen, June 16, 2022 - Cicor Group (SIX Swiss Exchange: CICN) expects a sales growth of around 30% in the first half of 2022 compared to the same period in 2021 as a result of acquisitions made and the successful management of challenges in the current difficult business environment. The ratio of new orders to sales is again expected to be well above 1, which means that Cicor can also expect business to continue to grow in the second half-year and the entire 2022 financial year.
In addition to the double-digit organic growth, the integration of the newly acquired Axis Electronics (Bedford, UK) and SMT Elektronik (Dresden, Germany, consolidated since May 2022) will especially contribute to the Cicor Group's sales growth of around 30% in the first half of 2022 compared to the first half of 2021 (CHF 116.7 million).
The result at the EBITDA level should also increase, although the passing on of additional costs from component procurement on the spot market to customers and the time-delayed passing on of cost increases to AS Division customers are likely to lead to some margin dilution.
The positive business performance demonstrates that Cicor is successfully managing the operational challenges in the supply chains, that the growth strategy is taking effect and that the acquired companies are being successfully integrated. Due to ongoing shortages and price increases in material supply, the uncertain geopolitical situation and the current inflation, the management of the Cicor Group continues to refrain from providing a quantitative outlook for the full-year 2022.
The half-year results will be published as scheduled on August 11, 2022.
Contact:
Cicor Management AG Media & Investor Relations
Gebenloostrasse 15 Phone +41 71 913 73 00
9552 Bronschhofen Email: media@cicor.com
Switzerland
Related Files
Cicor ad hoc announcement
(pdf, 86 KB)
Cicor Ad-hoc-Mitteilung
(pdf, 91 KB)
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Cicor Technologies SA published this content on 16 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 June 2022 05:02:02 UTC.
Cicor Technologies Ltd is a Switzerland based company engaged in the electrical engineering and electronics sector. The Company operates though four divisions: Cicor Printed Circuit Boards; Cicor Microelectronics; Cicor Electronic Solutions, and Asia division. The Cicor Printed Circuit Boards (PCB) division develops and produces printed circuit boards with the usage of high density interconnects (HDI's) and reel-to-reel technology. The Cicor Microelectronics division offers a range of microelectronic manufacturing from various thick and thin film coating technologies through micro assembly and up to delivery of tested and qualified electronic components. The Cicor Electronic Solutions division provides a range of production options for PCB assembly, system assembly, box-building and switch-box construction, cable assembly, tool making and injection molding. The Asia division focuses on the provision of the Company's technology to the Asian market.