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© luchschen dreamstime.com Electronics Production | August 12, 2015

'Good order intake despite a difficult first half'

Swiss high-tech industrial group Cicor, working with printed circuit boards, microelectronics and electronic solutions, reports good order intake despite a difficult first half of 2015.
The Group experienced reductions in EBITDA and in sales of 10.0 % and 10.5 % to CHF 7.9 million (7.2 million euro) and CHF 92.1 million (85 million euro) respectively. The Group's management anticipates slightly higher volumes in the second half of 2015, as well as upward momentum in terms of operating result and profitability compared with the first six months –
but precise forecasts for the whole of 2015 are difficult from the current perspective.

In the first half of 2015, the Cicor Group recorded order intake of CHF 98.6 million, which in Swiss franc terms was only 1.6 % down on the robust order intake seen in the first half of 2014 (first half of 2014: CHF 100.2 million). In local currencies, the order intake for the first half of 2015 even exceeded the prior-year period by 3.9 %. The Cicor Group's sales fell 10.5 %, from CHF 102.9 million (first half of 2014) to CHF 92.1 million in the first half of 2015.

The Cicor Group's EBITDA in the first half of 2015 amounted to CHF 7.9 million, 10.0 % lower than EBITDA in the prior-year period (first half of 2014: CHF 8.8 million.). EBITDA profitability of 8.6 % was maintained in the first half of 2015. EBIT amounted to CHF 3.4 million, which was 21.6 % down on the prior-year period (first half of 2014: CHF 4.3 million). Operating profit was greatly affected by the relatively high cost base in Swiss francs and the increased pressure on sales prices.

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