-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Cicor Witnessed a Challenging 2015 Financial Year
March 9, 2016 | CicorEstimated reading time: 5 minutes
During 2015, the year under report, the Cicor Group switched its reporting from IFRS to Swiss GAAP FER retrospective as at January 1, 2014. Application of Swiss GAAP FER ensures that the Group will continue to draw up clear and high-quality accounts that present a true and fair view of the assets, financial position and results. The planned, retrospective depreciation of goodwill over five years reduced the equity capital. In addition, the existing pension plans resulted in pension liabilities that were significantly lower than was the case under IFRS. The consolidated balance sheet remained sound following the changes associated with the switch from IFRS to Swiss GAAP FER. With equity of CHF 59.7 million and a balance sheet total of CHF 151.3 million, the equity ratio was 39.5%. Net current assets at the end of 2015 totaled CHF 47.4 million, a reduction of CHF 1.9 million in comparison with 2014. Net debt as at December 31, 2015 was CHF 20.5 million, compared with CHF 21.2 million at the end of 2014. Thanks to the syndicated bank loan facility signed in December 2014, amounting to CHF 65 million, Cicor continued to secure long-term financial flexibility.
Outlook: Challenges in the 2016 Financial Year
Thanks to the investments made in the global footprint and the expansion of production capacities abroad, the Cicor Group was able to reduce significantly its dependency on Switzerland as a production location. However, towards the end of 2015, the tangible cooling of the market targeted by the Group, as well as the falls in international stockmarkets in January 2016, have unsettled the business environment and make it difficult to issue forecasts. Under the same macroeconomic operating conditions as in the 2015 financial year, Cicor is expecting the results of the internal re-structuring to be reflected in growth in sales and results during the second half of 2016. In 2016, the Cicor Group will make every effort to return the business to a sustained path of growth as quickly as possible.
Page 2 of 2Suggested Items
Ansys’ Collaboration with Schrödinger will Accelerate Materials Development with Unprecedented Multiscale Simulation
05/09/2024 | ANSYSAnsys and Schrödinger are collaborating to deliver an ICME approach that bridges the gap between materials discovery and product development.
Real Time with… IPC APEX EXPO 2024: Innovative Lamination Technology
05/07/2024 | Real Time with...IPC APEX EXPOKevin Barrett of Insulectro and Victor Lazaro of Indubond discuss their companies' partnership, focusing on Indubond's innovative lamination technology that uses induction heating. They discuss the advantages of this technology over traditional methods, its benefits to customers, and the crucial role of automation in manufacturing.
Micron First to Ship Critical Memory for AI Data Centers
05/01/2024 | MicronMicron Technology, Inc. announced it is leading the industry by validating and shipping its high-capacity monolithic 32Gb DRAM die-based 128GB DDR5 RDIMM memory in speeds up to 5,600 MT/s on all leading server platforms.
HQ NextPCB of HQ Electronics Debut on the International Stage for Electronics Manufacture at IPC APEX 2024
05/01/2024 | PRNewswireHQ NextPCB of HQ Electronics, a leading Chinese-based multilayer PCB manufacturer and assembly house showcased its industrial prowess on the international stage for the first time at the IPC APEX Expo 2024.
GPV’s Q1 2024 Interim Financial Report Shows Strong Navigation in Uncertain Times
05/01/2024 | GPVDanish-based GPV recorded an expected drop in sales to DKK 2.3 billion for the first quarter of 2024. The decline also affected the operating profit, which was DKK 155 million compared to DKK 179 million in the same quarter last year, although the EBITDA margin was maintained. In general, demand has been softer in 2024, but GPV continues to invest for the long-term and expects the trend to turn in the second half of 2024.