Cicor records solid growth in the first quarter and further strengthens its
position in the core markets

   Cicor Technologies Ltd / Key word(s): Quarter Results
   Cicor records solid growth in the first quarter and further
   strengthens its position in the core markets
   16-Apr-2024 / 07:00 CET/CEST
   Release of an ad hoc announcement pursuant to Art. 53 LR
   The issuer is solely responsible for the content of this
   announcement.
     ____________________________________________________________

   
   Bronschhofen, April 16, 2024 - The Cicor Group (SIX Swiss
   Exchange: CICN) 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.

   Contact
   Cicor Management AG
   Gebenloostrasse 15
   CH-9552 Bronschhofen

   Media & Investor Relations
   Phone +41 71 913 73 00
   E-mail: 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 20 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 Inside Information
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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: 1880697

   End of Announcement EQS News Service
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1880697 16-Apr-2024 CET/CEST