A quick glance at Cicor’s stock market results over the past decade does not exactly lead to unbridled enthusiasm. It looks like a desperately low, smooth curve. Then, at the end of 2016, thanks to encouraging results... lift-off!
Before long, a bright spell happened for the company that specialises in the manufacture of electrical components, such as circuit boards. Sales grew 17% in the first half of 2017 and net profit tipped over into the black, rising by $2.3 million during this period.
Cicor targets its products at the automobile, aerospace and defence industries, as well as the medical sector. It produces a diverse range of products, from cardiac defibrillators to electronic modules for home sewing machines, to LED road signs for public transport.
The Swiss firm’s excellent results over the past two years are also, in part, a consequence of the massive outsourcing of its production to Asia (China, Indonesia, Singapore and Vietnam) and Romania. In addition, it benefits from excellent connections in the medtech sector, which requires reliable miniaturised technology. “Cicor is a very innovative company, one which positions itself on niche markets,” notes Panagiotis Spiliopoulos from Vontobel. “For example, it offers high-quality circuit boards, called PCB, for a lower cost than before. Share value already seems high to us. We recommend holding on to it.”