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PCB | March 15, 2010

2009 was a challenging financial year for Cicor

Switzerland-based Cicor Technologies felt the effects of the difficult economic environment during the financial year 2009.
Sales declined by 23.2% to CHF 160.1 million (2008: CHF 208.4 million). Operating profit before depreciation and amortization was CHF 4.6 million (2008: CHF 20.8 million), while the operating profit came to CHF -4.5 million (2008: CHF -17.6 million after a goodwill impairment of CHF 28.0 million). The overall loss was CHF -7.7 million (2008: CHF -21.6 million after goodwill impairment).

Measures initiated by the Board of Directors and Group Management created the basis for a better earnings situation in the second half of the year, as well as an improvement in operating profit compared with the first six months.

During 2009, Cicor Technologies focused its strategy on the new market challenges and, in particular, on expanding its presence in Asia. At the same time, the group strengthened its management and capital base.

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