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The positive business trend at Cicor Technologies Ltd. continues and is expected to increase earnings in the first half of 2018.
The business performance of the Cicor Group so far in 2018 is considerably stronger than early-year expectations. The strong sales growth of 2017 continued practically unchanged, in particular supported by a very high growth rate in the AMS division.
Based on this, the group's operating results are also expected to develop positively. As of today, an operating margin (EBIT) between 5 and 6% of sales is expected for the first half of 2018 (H1 2017: 4.7%).
With stable exchange rates for the Swiss franc, it can be assumed that the consolidated net profit in the first half of 2018 will also be significantly higher than the CHF 2.3m net profit reached in the first half of 2017.
Further growth in the second semester will also depend on the availability of electronic components. The supply situation has continued to worsen and may lead to delivery delays.
Also, Cicor announces that construction work on the new production site in Arad (Romania) has been largely completed. This means that the move to the new site will proceed as planned in the third quarter of 2018.
About Cicor
Cicor is a global development and manufacturing partner with innovative technology solutions for the electronics industry. With around 1900 employees at ten production sites, Cicor manufactures highly complex printed circuit boards and hybrids and offers comprehensive electronic and plastic injection molding services. The Group supplies customized solutions from design to finished product for its international customers. The shares of Cicor Technologies Ltd. are traded on the SIX Swiss Exchange (CICN). For more information, please click here.
