Cicor further strengthens its market position in Germany

Media Release

Bronschhofen, December 2, 2024 – Cicor Group (SIX Swiss Exchange: CICN) has signed an agreement to acquire the German EMS service provider Profectus GmbH. This transaction was pre-announced in the ad hoc announcement of November 8, 2024.

Profectus GmbH, based in Suhl (Thuringia, Germany), is a service provider for the development and manufacturing of electronic modules and systems. Its long-standing customers include medium-sized companies and leading corporations, mainly in the industrial electronics and medical technology sectors. With its state-of-the-art machinery and excellent infrastructure, including its own solar power generation and further expansion reserves, the acquisition of Profectus is a perfect next step in Cicor's growth strategy in Germany, Europe's largest electronics market. Profectus GmbH employs around 90 people and generated sales of around EUR 25 million in the last financial year ending 30 September 2024, with an operating margin at the level of the Cicor Group. The transaction is subject to the usual regulatory and other closing conditions and is expected to be completed in early 2025.

The owners of Profectus consider the future perspectives and growth opportunities of their company within the Cicor Group to be excellent and will continue to support this path. Cicor will continue to operate the site in Suhl unchanged and with the existing staff. Cicor relies on the experience and knowledge of all its employees to achieve its strategic goal of becoming the leading pan-European provider of development and manufacturing services.

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 3,350 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.