Cicor changes the accounting policy for the treatment of goodwill

   Cicor Technologies Ltd / Key word(s): Miscellaneous
   Cicor changes the accounting policy for the treatment of goodwill
   17.06.2024 / 07:00 CET/CEST
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   Media Release

   Bronschhofen, June 17, 2024 - Cicor Technologies Ltd. (SIX Swiss
   Exchange: CICN) changes the accounting policy for the treatment
   of Goodwill in the consolidated financial statements.

   In recent years, it has become standard practice for companies
   applying Swiss GAAP FER to offset goodwill against equity. For
   this reason, and to facilitate comparability with other stock
   listed companies, the Board of Directors of Cicor Technologies
   Ltd. (Cicor) has decided that, from January 1, 2024, goodwill
   from acquisitions will be offset directly against shareholders'
   equity at the time of acquisition, using the accounting policy
   choice provided in Swiss GAAP FER 30 'Consolidated financial
   statements'. This is the consequence of the successful
   implementation of Cicor's growth strategy through acquisitions.
   The impact of theoretical capitalization and amortization,
   including any impairment arising from the assessment of
   recoverability, will be disclosed in the notes to the
   consolidated financial statements.

   Previously goodwill was capitalized and amortized over its
   estimated useful life of five years. As this is a change in
   accounting policy, prior periods will be restated accordingly.
   Cicor previously reported the alternative performance measures
   'Core EBIT', 'Core net profit' and 'Core earnings per share',
   which excluded the amortization of goodwill and other intangible
   assets that were capitalized as part of an acquisition. These
   Core results will no longer be reported. These changes in
   financial reporting will simplify the communication with
   stakeholders and will be applied for the first time in the
   half-year report 2024 to be published on July 24, 2024.

   The table below shows the main changes following application the
   new accounting policy for goodwill on the consolidated financial
   statements for the first six and the full twelve months 2023:

   Contact
   Cicor Management AG
   Gebenloostrasse 15
   CH-9552 Bronschhofen

   Media & Investor Relations
   Phone +41 71 913 73 00
   Email: media@cicor.com

   The Cicor Group is a globally active provider of full-cycle
   electronic solutions from research and development to
   manufacturing and supply chain management. Cicor's approximately
   3,200 employees at 19 locations are serving leaders from the
   medical, industrial and aerospace & defence industries. Cicor
   creates value to its customers through the combination of
   customer-specific development solutions, high-tech components, as
   well as electronic device manufacturing. The shares of Cicor
   Technologies Ltd. are traded at the SIX Swiss Exchange (CICN).
   For further information, please visit the website www.cicor.com.

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   End of Media Release
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   Language:    English
   Company:     Cicor Technologies Ltd
                c/o Cicor Management AG, Gebenloostraße 15
                9552 Bronschhofen
                Switzerland
   Phone:       +41719137300
   Fax:         +41719137301
   E-mail:      info@cicor.com
   Internet:    www.cicor.com
   ISIN:        CH0008702190
   Valor:       870219
   Listed:      SIX Swiss Exchange
   EQS News ID: 1924759

   End of News EQS News Service
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1924759 17.06.2024 CET/CEST