Cicor announces divestiture of Tunisia and implements an integration and productivity programme with above CHF 10 million EBITDA improvements

Ad hoc announcement pursuant to Art. 53 LR

Bronschhofen, 16 June 2026 – Cicor Group (SIX Swiss Exchange: CICN) expects recurring annual EBITDA improvements of more than CHF 10 million from a profitability improvement programme supporting the integration of its 2025 acquisitions. The programme includes the divestiture of the Tunisian facility, production ramp-up and transfers at several sites and operational optimisation measures across the Group. One-time implementation costs in the mid-single-digit CHF million range are expected in 2026, primarily in the first half of the year whereas a substantial portion of financial benefits is already expected for the second half of this year. Cicor therefore confirms its financial guidance for 2026.

The integration of the companies acquired in 2025 is progressing according to plan. At the same time, Cicor is taking targeted measures to accelerate margin improvement and strengthen the operational performance of the acquired businesses. As part of these measures, Cicor divests its Tunisia production facility with about 90 employees for a purchase consideration of EUR 1.3 million plus customary adjustments. The transaction has been signed, is expected to close in June 2026 and will have a negative one-time impact on Cicor Net Profit of CHF 300’000 including transaction costs. It will not have an impact on Group revenue, as the customer relationships will remain with Cicor. Production activities in North Africa will be concentrated at the Group’s sites in Berrechid and Temara near Casablanca, Morocco. The former Éolane and Valtronic operations in Berrechid, Morocco, will be concentrated at the current location. 

Additional integration and efficiency measures are implemented. These include the transfer of production activities from the Geneva (Switzerland) site acquired from Mercury Systems to Newport (UK) and Bronschhofen (Switzerland), as well as the relocation of tool-making activities for plastic injection molding from Singapore to Batam (Indonesia). Cicor's thin film substrate operation in Wangs (Switzerland) performs a program to increase capacity and productivity to satisfy strongly growing demand especially from the A&D market. Furthermore, overlapping management structures in Switzerland, Germany and France have been streamlined. In Thuringia, the management organization has also been streamlined while maintaining the existing production sites. The measures will result in a reduction of approximately 220 positions, representing 5% of Cicor's total headcount, including the divestiture of the Tunisia site.

Financial impact 

The profitability improvement programme is expected to incur one-time implementation costs in the mid-single-digit CHF million range during 2026, with the majority recognised in the first half of the year as adjustment items. The measures are expected to generate recurring annual EBITDA improvements of more than CHF 10 million, of which a significant portion will already be realized in H2/2026. As organic growth is expected to be weighted towards the second half of 2026, inefficiencies during the production transfers and capacity ramp-ups are weighing on operating results, and most integration measures are being implemented during the first half of the year, Cicor currently expects adjusted EBITDA margins in the mid- to high-single-digit percentage range during the first half of 2026 and a robust double-digit margin in the second half. 

Cicor confirms its financial guidance for 2026 of revenues between CHF 700 million and CHF 750 million and adjusted EBITDA of CHF 70 million to CHF 80 million. The geopolitical situation, FX movements and an increasing shortage of components are the key risks for delivering the 2026 guidance.

The Cicor Group is a globally active provider of full-cycle electronic solutions from research and development to manufacturing and supply chain management. Cicor’s approximately 4,500 employees in 14 countries are serving leaders from the medical, industrial and aerospace & defence industries. Cicor creates value to its customers through the combination of customer-specific development solutions, high-tech components, as well as electronic device manufacturing. The shares of Cicor Technologies Ltd. are traded at the SIX Swiss Exchange (CICN). For further information, please visit the website www.cicor.com.