Cicor Technologies (CICN) Q3 2025 earnings summary

Executive summary

• Quarterly sales rose 33% year-over-year to CHF 160.1 million; YTD sales up 25.4% to CHF 440.8 million.

• Strong order intake of CHF 174.5 million in Q3, with a book-to-bill ratio of 1.09.

• Continued market share gains in core markets: medical technology, industrial, and aerospace & defence.

Financial highlights

• Q3 2025 order intake up 44% year-over-year; YTD order intake up 43%.

• Organic sales declined 1.1% in Q3, mainly due to inventory reductions and site closure in the Advanced Substrates division.

• Acquisitions contributed 37.1% to Q3 sales growth and 29.1% to YTD growth.

• Currency impact reduced sales by 3% in Q3 and 2% YTD.

Outlook and guidance

• Full-year 2025 sales expected between CHF 620–650 million; EBITDA between CHF 62–70 million.

• On a pro forma basis (excluding one-off integration costs, including pre-acquisition contributions), revenue expected at CHF 673–703 million and EBITDA at CHF 67–75 million.

• New orders, especially in aerospace & defence, expected to strengthen Q4 performance.