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PCB | September 11, 2007

Cicor increase sales by 14,1%

The Cicor Technologies Group increased its sales in the first half year of 2007 by 14.1% to CHF 100.4 million. For the first six months the Group showed a net profit from operating activities before interest and taxes (EBIT) of CHF 6.0 million and achieved a net profit of CHF 4.5 million.
Following the strong growth by acquisition of the last three years, the group is intensifying the cooperation between the three Divisions and is planning to stronger anchor itself internationally by taking a majority holding of the ESG Group.

During the reporting period, the Cicor Technologies Group was able to increase its sales by 14.1% to CHF 100.4 million (1st half year 2006: CHF 87.9 million). 5.7% of the increase resulted from organic growth; the acquisition of the Reinhardt Microtech Group and RHe Microsystems contributed 8.4%. Profit from operating activities before interest and taxes (EBIT) amounted to CHF 6.0 million. The amount is lower than the CHF 6.7 million during the same period last year. However, taking into account the one-time contributions from the reversal of provisions of CHF 2.3 million contained in the previous year's result, the Group increased its profit from operating activities significantly.

The net profit of CHF 4.5 million (2006: 5.2 million) for the first half year of 2007 is, without the one-time effect included in the first half year of 2006, also over the previous year's result.

The increase of total assets of the Group by CHF 46.2 million to CHF 269.4 million (31.12.2006: CHF 223.2 million) is primarily due to the integration of the companies of the Microelectronics (ME) Division. The equity ratio has therefore declined slightly from 57.8% to 55.4%. However, with this equity ratio, the Group continues to be solidly financed.

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