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25.11.2005 – 15:39

Cicor Technologies

euro adhoc: Cicor Technologies
Cicor Technologies well on track: Significant increase in earning power

@@start.t1@@--------------------------------------------------------------------------------   Disclosure announcement transmitted by euro adhoc.   The issuer is responsible for the content of this announcement. --------------------------------------------------------------------------------@@end@@


B o u d r y, 25 November 2005. Cicor Technologies, the Neuchâtel-based industrial group that specializes in developing and manufacturing printed circuit boards (PCB) as well as offering Electronic Manufacturing Services (EMS), continues to perform very well. As the group announced in its letter to shareholders, the three companies in the PCB division put in a "very satisfactory" performance to the end of October. For the first time since 2001 the production company Cicorel SA in Boudry (NE) returned to profit. Electronicparc Group, which was acquired in the middle of this year, performed as expected in most areas. Restructuring costs in a small part of this group will lead to exceptional expenditure, but this forms part of an ongoing optimization process and will not compromise the Group's ability to achieve its results. For the full current financial year Cicor Technologies expects turnover of around CHF 110 million, EBITDA of about CHF 17 million and net profit of about CHF 8.5 million.

The acquisition of Electronicparc Group prompted Cicor Technologies to adjust its organizational and management structures. The PCB Division's production and holding companies were merged, and in the EMS Division some of the complementary activities of Auparc AG are being brought together with those of Swisstronics Contract Manufacturing AG. Both companies are part of the Electronicparc Group. With Cicor Group now generating more than 80 percent of its turnover in German-speaking Switzerland, the Board of Directors has decided that the newly established management company should be based in Zurich. The holding company will, however, remain domiciled in Boudry. The company is also announcing that the variable component of the price paid for the July 2005 acquisition of Electronicparc Group is being held by the company as "treasury shares". This leaves 1,924,210 shares in circulation.

Optimistic outlook

The Electronicparc Group will be fully consolidated for the whole 2006 financial year. In terms of both organic and acquisition-driven growth the group believes that it will once again post growth rates in excess of the market average. Consequently, the board expects another significant year-on-year improvement in results in 2006.

@@start.t2@@end of announcement                                                 euro adhoc 25.11.2005 14:05:40

ots Originaltext: Cicor Technologies
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Christian Welter
Executive Director of Cicor Technologies
Tel. +41 79 409 40 91
E-mail christian.welter@cicor.ch

Branche: Technology
ISIN:      CH0008702190
WKN:        8702190
Index:    SPI, SSCI, SPIEX
Börsen:  Frankfurter Wertpapierbörse / free trade
              SWX Swiss Exchange / official market

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