Cicor Technologies Records Strong First Quarter Growth

Cicor Technologies Ltd, a leader in electronic solutions, reported a significant sales increase in the first quarter of 2024, with a rise of 11.8% to CHF 107.3 million compared to CHF 96.0 million in the same period of 2023. Despite broader economic challenges, the company managed a slight organic growth and maintained a stable book-to-bill ratio.

The commencement of integrating STS Defence in January 2024 significantly contributed to this quarter’s growth, positioning Cicor as a market leader in high-end electronics for aerospace and defense in Europe. Additionally, the company strengthened its leadership in the UK with strategic acquisitions, including TT Electronics production sites.

In line with its strategy, Cicor made substantial acquisitions in the core markets of medical, industrial, and aerospace & defense sectors, aiming to become the European leader. The company also anticipates continued growth in these areas, projecting sales between CHF 460-500 million and an EBITDA margin of 10-13% for 2024.