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Cicor Revises 2025 Forecast on Weaker German Demand, Strong A&D Pipeline
December 11, 2025 | CicorEstimated reading time: 1 minute
Cicor Group announces a revision of its financial guidance for the fiscal year 2025 due to a weaker-than-expected economic environment. In particular, deliveries to customers in Germany are expected to be delayed into 2026. Combined with the appreciation of the Swiss Franc especially against the British Pound and the US Dollar, Cicor expects to achieve 2025 Net Sales slightly below the previous guidance. With the acceleration of orders from the A&D sector, a book-to-bill rate notably above 1.0 is expected for 2025.
As the markets in key areas have not recovered as early as anticipated, the company has to revise its guidance for the fiscal year 2025. The company had assumed a recovery in the industrial and medical segments of the German EMS market, which has not yet materialised. Cicor now expects net sales of CHF 600 to 620 million (previous guidance: CHF 620 to 650 million).
2025 EBITDA is expected to reach CHF 63 million to 67 million when adjusted for the one-off effects related to acquisition step-ups, integration and restructuring. Reported EBITDA is expected to reach CHF 58 to CHF 62 million (previous guidance: CHF 62 to 70 million).
With continued strong order momentum especially from Cicor's pan-European customer base in Aerospace & Defence, combined with a stronger than ever new business pipeline, the Management expects the return to organic growth in 2026. Management is particularly pleased that Cicor is in the process of onboarding two major European A&D contractors to its customer base with first revenues expected in 2026 and sales in 2027 expected to significantly exceed CHF 10 million. Therefore, Cicor reiterates its medium-term guidance.
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