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Cicor Technologies (CICN) investor relations material
Cicor Technologies Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved transformative growth in 2025, with sales rising 28% year-over-year to CHF 616.5 million (pro forma CHF 691.0 million), driven by five strategic acquisitions and strong order intake.
Expanded presence in France, Spain, Morocco, Germany, Switzerland, and the U.S., strengthening positions in aerospace, defense, healthcare, and industrial markets.
Became a leading pan-European peer, ranked number six in Europe overall, with significant market share gains in key segments.
Adjusted EBITDA reached CHF 64.6 million (10.5% margin), with margin dilution from newly acquired businesses and free cash flow before acquisitions at CHF 49.1 million.
Integration of acquisitions and operational excellence remain top priorities for 2026.
Financial highlights
Net sales increased 28% year-over-year to CHF 616.5 million, with M&A contributing 32% and organic/FX impacts negative 2% each.
Adjusted EBITDA reached CHF 64.6 million (10.5% margin), up from CHF 60.7 million, with margin dilution from acquisitions.
Adjusted net profit was CHF 32.7 million, with adjusted EPS of CHF 7.45; net profit declined due to FX impacts.
Free cash flow before acquisitions was CHF 49.1 million, supporting acquisition funding; free cash flow conversion at 87%.
Net debt increased to CHF 70.1 million, with leverage at 1.10x EBITDA.
Outlook and guidance
2026 sales expected between CHF 700–750 million, with adjusted EBITDA projected at CHF 70–80 million, assuming stable macro conditions.
Focus on margin improvement, especially for acquired businesses, and continued operational efficiency.
Organic growth anticipated to return, with stronger momentum in the second half of 2026.
Guidance excludes major new M&A; any such activity would further increase top and bottom lines.
Medium-term targets for 2028: sales > CHF 1 billion, EBIT margin 7–10%, EBITDA margin 10–13%, ROIC > 15%, leverage < 2.75, CAPEX < 3% of sales.
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