By Helena Smolak
Cicor Technologies confirmed its full-year outlook after posting higher sales in the third quarter, boosted by robust demand from customers in the medical, aerospace and defense markets.
The Swiss electronic-components maker said Monday that quarterly sales increased 22% on year to 95.3 million Swiss francs ($105.6 million). Growth was supported by demand in the aforementioned markets and new customer wins.
The order intake stood at CHF108 million in the quarter.
Cicor said it is also benefiting from market trends like reshoring, customers exploring manufacturing alternatives beyond China, and a growing emphasis on outsourcing electronics development and production.
The group reiterated its 2023 guidance for annual sales of CHF380 million-CHF410 million and earnings before interest, taxes, depreciation, and amortization of CHF40 million-CHF45 million.
Cicor also said it anticipates potential business growth through its new partnership with French manufacturer Clayens for smart drug delivery.
Write to Helena Smolak at [email protected]
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