Cicor Group Reports 26.3% Q3 Sales Growth, Gains Market Share Amid Challenging Conditions

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The Cicor Group continued its growth path in the third quarter of 2024. Quarterly sales increased by 26.3% to CHF 120.4 million, and the order intake of CHF 121.1 million corresponds to a book-to-bill rate of 1.01.

Cicor has further strengthened its position in Europe as one of the leading development and manufacturing partners for complex electronics in its core markets of medical technology, industrial, aerospace, and defense. The Cicor Group's organic sales growth in the third quarter was -1.5%. In the European market for Electronic Manufacturing Services (EMS), which shrank by around 10% in the first half of 2024 due to ongoing destocking and generally weak demand, Cicor gained market share again.

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 close customer relationships should enable it to continue outperforming the market. 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.

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