Half-Year Report 2026

Strong first half for Cicor

Cicor recorded strong growth in revenue and order intake in the first half of 2026. Revenue increased by 19% compared with the previous year to CHF 334.1 million, while order intake rose by 39.8% to CHF 399.8 million.

The book-to-bill ratio reached 1.2 and remained above one for the fifth consecutive quarter. Organic growth was 0% for the first half as supply chain constraints and limited component availability affected the start of the year. In the second quarter, organic growth returned to positive territory at 5.3%.

At the same time, Cicor continued to integrate the businesses acquired in 2025. Production transfers, capacity expansion and other integration activities temporarily affected profitability during the first half. Adjusted EBITDA amounted to CHF 28 million, corresponding to an adjusted EBITDA margin of 8.4%.

The return to positive organic growth in the second quarter, together with the record-high orderbook, supports expectations for a stronger second half of the year.