Cicor Expects 30% Growth in 1H22 Due to Strong Business Performance
June 16, 2022 | CicorEstimated reading time: 1 minute
Cicor Group expects a sales growth of around 30% in the first half of 2022 compared to the same period in 2021 as a result of acquisitions made and the successful management of challenges in the current difficult business environment. The ratio of new orders to sales is again expected to be well above 1, which means that Cicor can also expect business to continue to grow in the second half-year and the entire 2022 financial year.
In addition to the double-digit organic growth, the integration of the newly acquired Axis Electronics (Bedford, UK) and SMT Elektronik (Dresden, Germany, consolidated since May 2022) will especially contribute to the Cicor Group's sales growth of around 30% in the first half of 2022 compared to the first half of 2021 (CHF 116.7 million).
The result at the EBITDA level should also increase, although the passing on of additional costs from component procurement on the spot market to customers and the time-delayed passing on of cost increases to AS Division customers are likely to lead to some margin dilution.
The positive business performance demonstrates that Cicor is successfully managing the operational challenges in the supply chains, that the growth strategy is taking effect and that the acquired companies are being successfully integrated. Due to ongoing shortages and price increases in material supply, the uncertain geopolitical situation and the current inflation, the management of the Cicor Group continues to refrain from providing a quantitative outlook for the full-year 2022.
The half-year results will be published as scheduled on August 11, 2022.
Suggested Items
North American PCB Industry Sales Down 23.8% in March
04/29/2024 | IPCIPC announced the March 2024 findings from its North American Printed Circuit Board (PCB) Statistical Program. The book-to-bill ratio stands at 1.13.
North American EMS Industry Down 4% in March
04/29/2024 | IPCIPC announced the March 2024 findings from its North American Electronics Manufacturing Services (EMS) Statistical Program. The book-to-bill ratio stands at 1.31.
SCHWEIZER Confirms Group Figures and Outlook for 2024
04/29/2024 | SCHWEIZERSCHWEIZER announces the publication of the annual report for 2023 and confirms the preliminary figures. The SCHWEIZER-Group (according to IFRS) generated sales of EUR 139.4 million in 2023 (previous year: EUR 131.0 million).
New Appointment Strengthens Ventec’s Value-Added Equipment Division
04/29/2024 | VentecVentec announces the appointment of Leigh Allinson as Commercial Director for its value-added PCB Equipment division 'Ventec Giga Solutions'.
NCAB Group Posts Interim Report Q1 2024
04/26/2024 | NCAB GroupNet sales decreased by 17% to SEK 950.6 million (1,146.4). Compared with the year-earlier period, sales were affected bylower prices and continued inventory adjustments by customers. In USD, net sales decreased 17%. For comparable units, net sales decreased 24% in both SEK and USD.