Strategy 2028: Cicor aims to become leading electronics designer
A stronger focus on high-growth verticals and the accelerated expansion of R&D services is expected to lead to above market growth organically, the company said.
Cicor Group aims to become the leading pan-European electronics developer and manufacturer in key sectors like healthcare technology, aerospace/defence and industrial, the company announced in its ‘Strategy 2028.’
The company also aspires to be recognized as an employer of choice and is committed to operating sustainably.
A stronger focus on high-growth verticals and the accelerated expansion of R&D services is expected to lead to above market growth organically. A newly developed business excellence model is being implemented and will support Cicor’s financial and operational performance, the company said.
“Cicor is taking advantage of the opportunities offered by digitalisation and the use of artificial intelligence, while at the same time increasing cyber security within the company,” Circor said in a media release. “Selective footprint optimisation such as the recently announced consolidation of thin-film production at the Wangs (Switzerland) site will further drive performance.”
Cicor has continued its growth path in the third quarter of 2024, with quarterly sales increasing 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.
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.
Provided that there is no major 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, it said in October.
