-
- 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 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
Q1 Global Semiconductor Sales Increase 15.2% YoY
05/07/2024 | SIAThe Semiconductor Industry Association (SIA) announced worldwide sales of semiconductors totaled $137.7 billion during the first quarter of 2024, an increase of 15.2% compared to the first quarter of 2023 but 5.7% less than the fourth quarter of 2023.
Micross, Sital Announce Global Manufacturing & Distribution Partnership
05/07/2024 | Micross Components, Inc.Micross Components, Inc., a leading global provider of mission-critical microelectronic components and services for high-reliability aerospace, defense, space and industrial applications, is pleased to announce our exclusive partnership with Sital Technology (sitaltech.com), the leader in MIL-STD-1553 IP cores, specializing in integrated FPGA solutions.
Flex Announces Upcoming Changes to Its Board of Directors
05/07/2024 | FlexFlex announced that consistent with its succession plan, Michael D. Capellas, non-executive Chair of the Board of Directors of Flex, has informed the Board of his decision not to stand for re-election to the Board at the company's 2024 Annual General Meeting of shareholders to be held on August 8, 2024. Mr. Capellas has served on the company's board for 10 years, including as Chair since 2017, during which time he played a key role in building Flex's reputation as a trusted global technology, supply chain and manufacturing solutions partner and driving the company's success.
Real Time with… IPC APEX EXPO 2024: Understanding Objective Evidence in Manufacturing Processes
05/07/2024 | Real Time with...IPC APEX EXPOGraham Naisbitt explains the importance of objective evidence in manufacturing processes, debunking the common misconception that the ROSE test is a cleanliness test. He also discusses the introduction of Rev J, a requirement for measuring ionic contamination on circuit assemblies, and the challenges in accurately measuring contamination. Alternative methods like ion chromatography and the need for updating standards like the ROSE test are mentioned.
Fabrinet Announces Q3 Fiscal Year 2024 Financial Results
05/07/2024 | FabrinetFabrinet, a leading provider of advanced optical packaging and precision optical, electro-mechanical and electronic manufacturing services to original equipment manufacturers of complex products, today announced its financial results for its third fiscal quarter ended March 29, 2024.