Zurich (awp) – The electronic components manufacturer Cicor now expects an annual turnover of 470 to 490 million Swiss francs, at the bottom of its forecast range (470-510 million). However, it is pleased with its figures after nine months, which it publishes after its main shareholder OEP published a mandatory conversion offer. It will be settled on February 28.
From January to September, Cicor achieved net sales of 351.7 million Swiss francs, a gain of 19.4% over one year, according to a situation update on Friday. The organic evolution of sales was negative at -3.5%, but still outperformed the market as a whole, “which experienced a significant double-digit decline, which allowed Cicor to gain additional market share,” assured the group.
New orders totaled 322.1 million Swiss francs. “Order intake stabilized in the third quarter, which improved the book-to-bill ratio to 0.92 over nine months, maintaining an order backlog of approximately one year,” according to the press release. .
Operating margin improved to 11.6% (11.2%). Gross operating profit (Ebitda) swelled to 40.7 million Swiss francs, compared to 32.9 million. Net profit jumped by half to 17.4 million.
The St. Gallen company, which recorded sales of 389.9 million Swiss francs last year, anticipates “only a slight decline in organic growth in 2024”. She deplores the impact of the strong franc against the euro on revenues. “Despite this, profitability is improving thanks to the rapid alignment of the operating margins of the newly acquired companies with those of the Cicor group.”
The latter expects Ebitda of 55 to 60 million, compared to 50 to 60 million. “Robust operational activities and balance sheet strength enable Cicor to pursue its growth strategy,” the document adds.
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