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
NOTE Releases Interim Report for January-March 2024.
04/23/2024 | NOTENOTE has announced its interim report for January-March 2024.
ZESTRON Welcomes Whitlock Associates as New Addition to their Existing Rep Team in Florida
04/19/2024 | ZESTRONZESTRON, the leading global provider of high-precision cleaning products, services, and training solutions in the electronics manufacturing and semiconductor industries, is thrilled to announce the addition of Whitlock Associates to its esteemed network of sales representatives.
Mycronic Releases Interim Report January–March 2024
04/18/2024 | MycronicNet sales increased 39 percent to SEK 1,692 (1,219) million. Based on constant exchange rates, net sales increased 42 percent.
VDMA: Machine Vision Navigating Through Uncertain Times
04/18/2024 | VDMAFor over a decade, the European machine vision industry has reported steady growth, with turnover increasing by an average of 9 percent annually between 2012 and 2022. Despite a temporary setback in 2020 (minus 4 percent) due to the Covid-19 pandemic, the industry rebounded strongly in 2021 (plus 17 percent) and 2022 (plus 11 percent).
Aspocomp’s Q1 Net Sales and Operating Result Decreased YoY
04/18/2024 | AspocompInflation and interest rates, weak economic development, the uncertainties posed by Russia’s war of aggression and the situation in the Middle East, and global trade policy tensions will affect the operating environment of Aspocomp and its customers in the 2024 fiscal year.