BRONSCHHOFEN, SWITZERLAND – Cicor reported 2019 net sales for its microelectronics operations of CHF 61.3 million (US$64.2 million), down 2.6% year-over-year.

EBIT for the division was down 18.9% to CHF 6.2 million. While the microelectronics operations showed a positive sales and profit performance in 2019, PCB production suffered from weak demand in the watchmaking and automotive industries.

Total company net sales were CHF 253.9 million, up 2.3% year-over-year. The company gained market share for the third consecutive year.

Total net income was CHF 8.4 million, a decrease of 12.5% compared to the previous year. EBIT was down 2% year-over-year to CHF 14.9 million.

Orders in 2019 were CHF 208.9 million, down 24.8% compared to 2018. The book-to-bill ratio was 0.83.

Cicor won a significant number of new customer projects in medical technology. Most projects will go into mass production in 2020 and 2021.

The coronavirus pandemic will have a greater impact on supply chains than originally assumed. Although many companies in China resumed operations in mid-February, they did so with significantly reduced capacity due to a lack of returning personnel. Cicor says the coronavirus pandemic will have an impact on the company’s 2020 results.

Ed.: CHF 1 = US$1.05

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