Slide 1: Interim Report 2022
Interim Report 2022 Cicor Technologies Ltd. August 11, 2022 Alexander Hagemann (CEO) Peter Neumann (CFO)
Slide 2: Disclaimer
Disclaimer August 11, 2022 The information in this presentation does not constitute an offer or invitation and may not be construed as a recommendation by us to purchase, hold or sell shares of Cicor Technologies Ltd. This information or any copy thereof may not be sent or taken to or distributed in
Slide 3: Cicor in H1/2022
Alexander Hagemann Cicor in H1/2022
Slide 4: Electronic solutions for a world driven by technological progress
Electronic solutions for a world driven by technological progress Cicor application examples 30% of hearing aids use 50% of satellites operate Cicor supports the drive to Cicor technology to help reliably with solutions ever higher performing people hear better made by Cicor computer chips 4
Slide 5: Cicor is a globally active provider of full-cycle electronic solutions
Cicor is a globally active provider of full-cycle electronic solutions Short profile Best-in-class services from research and development to manufacturing and supply chain management Trusted outsourcing partner for leaders in attractive markets: Medical, Industrial, Aerospace & Defence 2’200 e
Slide 6: Megatrends drive growth of EMS market
Megatrends drive growth of EMS market Trends are accelerated by geopolitical situation and supply chain challenges 2026 Ever growing demand for electronics and 2021 Source: New Venture Research, 2022 digital devices worldwide OEM focusing on their core competency, share of outsourced manufacturi
Slide 7: Cicor's growth strategy to establish a European leader in EMS
Cicor’s growth strategy to establish a European leader in EMS Progress is demonstrated with organic growth and first acquisitions Organic growth is driven by the largest ever pipeline of new projects combined with the ability to deliver despite supply chain constraints Targeting acquisition of w
Slide 8: Cicor delivers on the growth strategy announced in 2021
Cicor delivers on the growth strategy announced in 2021 H1 of 2022: Record orders, sales and EBITDA Sales increase by 35.5% to CHF 157.7 million – growth of 38.3% in local currencies Organic growth of 15.4% from strong demand of existing/new customers and ability to deliver EBITDA of CHF 15 mi
Slide 9: Electronic Manufacturing Services (EMS) division is the growth driver
Electronic Manufacturing Services (EMS) division is the growth driver Progress achieved in H1 of 2022 Sales growth of 42.2% to CHF 135.1 million (H1/2021: CHF 95.0 million) driven by organic growth and acquisitions EBITDA increased 63.9% to CHF 13.8 million (H1/2021: CHF 8.4 million), achieving
Slide 10: AS Division with earnings decline due to cost inflation
AS Division with earnings decline due to cost inflation Key developments in H1 of 2022 Sales growth of 5.5% to CHF 23.3 million (H1/2021: CHF 22.1 million) from increased demand for PCB for medical devices EBITDA decreased by 24.1% to CHF 3.1 million (H1/2021: 4.1 million) Material and energy
Slide 11: Financial results H1/2022
Peter Neumann Financial results H1/2022
Slide 12: Interim Report 2022
Interim Report 2022 Basis for preparation Preparation according to Swiss GAAP FER 31 “Complementary recommendation for listed companies” (FER = Fachempfehlungen zur Rechnungslegung). 12
Slide 13: Record sales and core results from organic growth and acquisitions
Record sales and core results from organic growth and acquisitions Key figures H1/2022 Orders received Net sales EBITDA Core EBIT 1) Core net profit 1) +29.5% 15.0 +30.0% +35.2% 11.6 +45.4% 181.8 157.7 9.7 139.8 116.7 6.6 -4.1% 5.2 4.9 ROS: ROS: ROS: 9.9% 9.5% 5.7% 6.1% 4.4% 3.1% 2021 2022 2021 2022
Slide 14: Long-term view – Impact of Cicor growth strategy
Long-term view – Impact of Cicor growth strategy Performance 2017 – 2022 Cicor Group 300 20% Cicor achieved highest ever 1st half-year results 254 250 217 248 215 239 15% across sales and EBITDA – growth strategy 200 125 122 122 delivering. 108 9.9% 106 10% 150 8.9% 9.8% 9.0% 9.7% 9.5% 100 158 5%
Slide 15: Consolidated income statement
Consolidated income statement in TCHF H1/2021 in % H1/2022 in % %YoY Record Net Sales (CHF 157.7 million) and EBITDA levels (CHF 15 million) Net sales 116 712 100.0 157 747 100.0 35.2 Material expenses -61 693 -52.9 -90 272 -57.2 46.3 Strong EMS EBITDA margin Operating expenses -43 417 -37.2 -52
Slide 16: Cicor segment performance
Cicor segment performance All figures in CHF million Net sales EBITDA EMS Division (86% of revenue): +63.9% Revenue growth +42.4% +42.2% 13.8 EBITDA growth +63.9% EMS 135.1 8.4 % Margin increased from 8.9% to 10.2% 95.0 ROS ROS: 8.9% 10.2% AS Division (14% of revenue): 2021 2022 2021 2022
Slide 17: Core net profit performance YTD 2022
Core net profit performance YTD 2022 All figures in CHF million -0.2 (-4.1%) Increase in core EBIT due to strong EBIT performance of -2.5 strategic acquisitions +3.0 5.2 -0.8 4.9 Financial result negatively impacted by unfavorable FX development and additional interest expenses ROS: 4.4% ROS: 3.
Slide 18: Consolidated balance sheet
Consolidated balance sheet in TCHF Dec 2021 in % June 2022 in % Solid performance end June Current assets 200 631 62.3 208 951 63.2 across the core bank covenants Non-current assets 121 258 37.7 121 421 36.8 (equity ratio 31.6% and leverage Total Assets 321 889 100.0 330 372 100.0 net debt / EBITD
Slide 19: Consolidated cash flow statement
Consolidated cash flow statement in TCHF H1/2021 H1/2022 Working capital (mainly Net profit 5 160 812 inventory) increased in H1 and Depreciation, amortization and impairment 4 954 9 878 had a major negative impact on Other non cash items 1 435 696 our operating cash flow Changes in working capita
Slide 20: Positive impact of acquisitions - Pro-forma performance
Positive impact of acquisitions - Pro-forma performance All figures in CHF million Reported Pro-Forma Acquisition of Axis (Consolidation as of December Half Year Revenue 2021) and SMT (consolidation as of May 2022) 157.7 164.0 2022 EBITDA 15.0 15.6 significantly impact our half-year and last twelv
Slide 21: Outlook 2022
Alexander Hagemann Outlook 2022
Slide 22: Outlook
Outlook Expectations for 2022 Normalization of order intake as result of global uncertainties Continuing shortage of electronic components hinders faster growth The high order backlog and the bulging new project pipeline should at least partially compensate for these negative effects, but we n
Slide 23: Investor Relations
Investor Relations Agenda 2022/2023 Investora 2022 September 22, 2022 in Zurich-Stettbach (Switzerland) Deutsches Eigenkapitalforum November 28 - 30, 2022 in Frankfurt (Germany) Annual Report 2022 March 2023 Annual Shareholder’s Meeting 2023 April 2023 Interim Report 2023 August 2023 23
Slide 24: Investor Relations
Investor Relations Contacts Alexander Hagemann Peter Neumann Michael Götti CEO CFO VP Corporate Marketing & Communications Cicor Management AG Gebenloostrasse 15 CH - 9552 Bronschhofen investor@cicor.com +41 71 913 73 00 24
Slide 25: Thank you for your attention
Thank you for your attention www.cicor.com/investors investor@cicor.com