Cicor Technologies, a Swiss electronic-components maker, has affirmed its full-year outlook after experiencing a significant increase in sales during the third quarter. The company's sales rose by 22% compared to the previous year, reaching 95.3 million Swiss francs ($105.6 million). This growth can be attributed to robust demand from customers in the medical, aerospace, and defense sectors, as well as successful customer acquisitions.
Throughout the quarter, Cicor received orders amounting to CHF108 million. The company stated that several market trends are contributing to its success, such as reshoring initiatives, the exploration of manufacturing alternatives beyond China, and a growing emphasis on outsourcing electronics development and production.
Cicor remains confident in its long-term prospects and has reiterated its annual sales guidance for 2023, projecting revenues between CHF380 million and CHF410 million. Additionally, the company foresees earnings before interest, taxes, depreciation, and amortization (EBITDA) ranging from CHF40 million to CHF45 million.
In an effort to further expand its business opportunities, Cicor has entered into a partnership with French manufacturer Clayens, focusing on smart drug delivery. This collaboration is expected to drive additional growth for the company.