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©Cicor PCB | August 22, 2012

Cicor posts first half results

Cicor has increased net revenue for the first half of 2012 but business volume has fallen from YoY.

During the first six months of the 2012 financial year, the Cicor Group generated net revenue of CHF 84.4 million (70.2 million euros), representing a slight increase compared to the second half 2011 (CHF 84.1 million) and a 10.8% drop in the business volume compared to the previous year period (CHF 94.6 million). The company said net revenue fell short of expectations, due to decreased sales in the domestic market in the Electronic Solutions Division, uncompleted pilot projects in China, and an absence of new orders from the public sector. Operating profit increased to CHF 2.5 million (first half of 2011: CHF 2.0 million) and the EBIT margin improved to 3.0% (first half of 2011: 2.1%). Net income amounted to CHF 1.4 million (first half of 2011: CHF 0.3 million). Net revenue generated in the Printed Circuit Boards Division during the first half of the year amounted to CHF 16.6 million down from CHF 19.6 million from the same period last year. Net revenue generated by the Electronic Solutions Division amounted to CHF 43.4 million (first half of 2011: CHF 50.1 million, -13.5% compared to 2011). Operating profit (EBIT) amounted to CHF 2.6 million during the first half year (first half of 2011: CHF 2.8 million) and the EBIT margin improved from 5.6 to 6.0%.
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