-
- News
- Books
Featured Books
- smt007 Magazine
Latest Issues
Current IssueComing to Terms With AI
In this issue, we examine the profound effect artificial intelligence and machine learning are having on manufacturing and business processes. We follow technology, innovation, and money as automation becomes the new key indicator of growth in our industry.
Box Build
One trend is to add box build and final assembly to your product offering. In this issue, we explore the opportunities and risks of adding system assembly to your service portfolio.
IPC APEX EXPO 2024 Pre-show
This month’s issue devotes its pages to a comprehensive preview of the IPC APEX EXPO 2024 event. Whether your role is technical or business, if you're new-to-the-industry or seasoned veteran, you'll find value throughout this program.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - smt007 Magazine
Cicor Records Solid Growth in Q1
April 16, 2024 | CicorEstimated reading time: 1 minute
The Cicor Group continued to grow in the first three months of the year. Quarterly sales increased by 11.8% to CHF 107.3 million compared to the first quarter of the previous year (Q1/2023: CHF 96.0 million).
Despite the current economic weakness, the Cicor Group achieved slight organic sales growth of 0.3% and a book-to-bill ratio of 1.0 before acquisitions. The main contribution to growth came from STS Defence (STS), which has been consolidated since January 24, 2024. Due to the aperiodic order intake in the aerospace & defence market – important projects had been won in the months prior to the integration – STS has only recorded a small number of new orders since the acquisition. As a result, new orders in the first quarter of 2024 amounted to CHF 97.4 million (Q1/2023: CHF 95.0 million), corresponding to a book-to-bill ratio of 0.9. Cicor thus continues to have a very high order backlog, which is almost equivalent to one year's sales.
Effective March 31, 2024, Cicor became the European market leader in the production of high-end electronics for the aerospace and defence sector and achieved market leadership in the UK through the acquisition of the three production sites of TT Electronics in the UK and China and the previously acquired companies Axis Electronics (integration 2021) and STS Defence (integration 2024). With these acquisitions and the integration of Evolution Medtec in February 2024, Cicor has taken another step forward in implementing its strategy to become the European market leader in the core markets of medical, industrial and aerospace & defence.
Sustainable acquisitions and organic growth will continue to play an important role in Cicor's strategy, as the company sees attractive opportunities to create value in a highly fragmented market. Cicor is very well positioned and is benefiting from the dynamic developments in its three core markets. Cicor expects business to increase in the second half of the year. Provided that geopolitical, economic and financial conditions do not deteriorate significantly, Cicor continues to expect sales growth to CHF 460-500 million and an EBITDA margin in the target range of 10-13% for the full year 2024. The current guidance includes the contribution of the companies acquired in the first quarter.
Suggested Items
Peters: Casting Compound Perfectly Protects Electronics from Overheating
05/15/2024 | PetersWith ELPECAST® VU 4545/101, Peters has recently added a casting compound to its product portfolio that is characterised by particularly high thermal conductivity.
Avnet to Exhibit at the 2024 Embedded Vision Summit
05/14/2024 | AvnetAvnet’s exhibit plans for the 2024 Embedded Vision Summit include new development kits supporting AI applications.
Kitron: Completed Share Buyback in Connection with Remuneration to the Board Members
05/14/2024 | KitronKitron ASA has completed share buyback in connection with remuneration to the board members. Reference is made to the stock exchange release by Kitron ASA published on 13. May 2024 regarding initiation of a share buyback program.
Real Time with… IPC APEX EXPO 2024: Digitization and Regular Updates of the iNEMI Industry Roadmap
05/14/2024 | Real Time with...IPC APEX EXPORanjan Chatterjee is a board member at iNEMI. In this conversation with Editor Nolan Johnson, Chatterjee discusses the digitization of, and regular updates to, the industry roadmap. The roadmap is a collaborative effort on technologies and standards which is intended to guide CEOs and CTOs in their long-range planning. Ranjan discusses the board's role in shaping the roadmap and the vision for more frequent updates.
AT&S Adjusts Forecast, Not Considering a Capital Increase, Will Obtain Binding Offers for the Sale of Ansan
05/14/2024 | AT&SAT&S adjusts forecast for the financial year 2026/27, is currently not considering a capital increase, intends to obtain binding offers for the sale of the plant in Ansan, Korea, and proposes not to distribute a dividend for the financial year 2023/24.