Cicor thrives in a challenging environment
The Cicor Group continued its growth path in the third quarter of 2024. Quarterly sales increased by 26.3% to CHF 120.4 million (EUR 128.2 million). The order intake of CHF 121.1 million (EUR 128.9 million) corresponds to a book-to-bill rate of 1.01.
The group says its organic sales growth in the third quarter was -1.5%. In the European market for EMS, which shrank by around 10% in the first half of 2024 due to ongoing destocking and generally weak demand, Cicor was able to gain market share again.
The company states in a press release that its focus on its three core markets and close customer relationships should enable it to continue outperforming the market in the future. In addition, Cicor will continue to drive the consolidation of the European market through acquisitions, as the company sees attractive value creation opportunities in a highly fragmented market.
Provided that there is no significant downturn in geopolitical, economic and financial conditions, Cicor continues to expect sales growth to reach CHF 470-510 million (EUR 500-543 million) and EBITDA to reach CHF 50-60 million (EUR 53.2-63.8 million) for the full year 2024.
