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© cicor Electronics Production | March 09, 2017

Cicor with successful turnaround

Cicor, headquartered in Boudry (Switzerland), was able to get back on track in the second half of the year after a difficult first six months.
Turnover in the last financial year was CHF 189.5 million, 4.9 percent above the previous year (2015: CHF 180.6 million). Following a significant loss in 2015, a small net profit of CHF 0.3 million was made in 2016 (2015: CHF -4.1 million). The loss of CHF 0.6 million from the first half of the year was compensated by the resulting profit of CHF 0.9 million (after restructuring costs).

Record order intake

The Group acquired important new customers in the 2016 financial year, which further strengthened the strategic segments of medical and industrial. In addition to gaining new customers in all areas, the order intake from existing customers also increased significantly and additional development and processing orders were obtained. There has also been a significant growth in order intake of 26.7 percent to a record CHF 223.5 million (2015: CHF 176.3 million).

Site optimization executed

Consolidation of printed circuit board manufacturing in Boudry (Switzerland) was completed on schedule in 2016, a prerequisite for the turnaround of the AMS Division. In autumn of 2016, Cicor integrated the two production and administration sites in Bronschhofen SG into a new building with significantly optimized process flows. Cicor Management AG has also moved from Zurich-Oerlikon to eastern Switzerland. In order to ensure continued growth, land has been acquired in Arad (Romania), on which a new manufacturing plant will be erected by mid-2018.

Positive outlook for the 2017 financial year

Thanks to the record order intake in 2016, Cicor had a good start into the new financial year. The restructuring and efficiency improvement measures implemented in 2016 will take effect in the new year. Cicor expects that 2017 will be a year of good sales growth and clear improvement of results for the group.

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March 25 2017 3:01 PM V8.0.2-1