Cicor expects around 30% growth in 1H22
EMS provider Cicor Group says that it expects a sales growth of around 30% in the first half of 2022 compared to the same period in 2021 as a result of acquisitions made and the successful management of challenges in the current difficult business environment.
The ratio of new orders to sales is again expected to be well above 1, which means that Cicor can also expect business to continue to grow in the second half-year and the entire 2022 financial year.
In addition to the double-digit organic growth, the integration of the newly acquired Axis Electronics (based in Bedford, UK) and SMT Elektronik (in Dresden, Germany, consolidated since May 2022) will especially contribute to the group's sales growth of around 30% in the first half of 2022 compared to the first half of 2021 (CHF 116.7 million or EUR 114.5 million).
The company says in an update that the result at the EBITDA level should also increase – although the passing on of additional costs from component procurement on the spot market to customers and the time-delayed passing on of cost increases to AS Division customers are likely to lead to some margin dilution.
However, due to ongoing shortages and price increases in material supply, the uncertain geopolitical situation and the current inflation, the management of the company continues to refrain from providing a quantitative outlook for the full-year 2022.