Cicor Technologies · SIX:CICN
Cicor Technologies — Shareholder Meeting (April 2026)
66 slides from Cicor Technologies's shareholder meeting presentation, Apr 15, 2026
Slide 1: Annual General Meeting 2026 Cicor Technologies Ltd.
Annual General Meeting 2026 Cicor Technologies Ltd. 15 April 2026
Slide 2: Opening
cicor Daniel Frutig Opening
Slide 3: Opening
Annual General Meeting 2026 of Cicor Technologies Ltd. Opening • In the event of questions or objections, participants are asked to use the microphones provided and to introduce themselves by name. • If shareholders wish to leave the room during the meeting, they are asked to leave their voting mate
Slide 4: Agenda of the Annual General Meeting 2026
Daniel Frutig Agenda of the Annual General Meeting 2026 4
Slide 5: Agenda Items and Proposals of the Board of Directors
Annual General Meeting 2026 of Cicor Technologies Ltd. Agenda Items and Proposals of the Board of Directors • Opening and welcome by the Chairman of the Board of Directors • Business update by the CEO • Financial update by the CFO • Proposals and explanations 1. Annual Report including annual financ
Slide 6: Agenda Items and Proposals of the Board of Directors
Annual General Meeting 2026 of Cicor Technologies Ltd. Agenda Items and Proposals of the Board of Directors 7. Approval of the total compensation of the Group Management for the financial year 2027 8. Re-election of the Board of Directors 8.1 Re-election of Mr. Daniel Frutig 8.2 Re-election of Ms. N
Slide 7: Introduction by the Chairman
Daniel Frutig Introduction by the Chairman 7
Slide 8: Key Results 2025
Introduction by the Chairman Key Results 2025 CHF 616.5 million +28.2% Net sales from deliveries and Sales growth compared to services previous year 10.5%* 84% EBITDA margin Sales in strategic target markets of medical, industry, and A&D CHF 7.45* 4,524 Earnings per share (EPS) Employees worldwide (
Slide 9: Market Environment and Impact on Cicor
Introduction by the Chairman Market Environment and Impact on Cicor • Continued focus on high-margin segments and targeted acquisitions strengthens Cicor’s market position • Cicor capitalises on market shifts, leveraging its strong position in Aerospace & Defence to enhance its competitive edge • Th
Slide 10: Cicor's Response
Introduction by the Chairman Cicor’s Response • Leveraging solid corporate governance, a robust business model, and a strategic approach, supported by a strong balance sheet and moderate debt • Enhancing resilience through redundant supply chains and targeted investments in digital transformation &
Slide 11: Our Beacon: Strategy 2028 Creating Together
Introduction by the Chairman Our Beacon: Strategy 2028 Cicor 2028 Creating Together Framework: Vision • Core Values • People • Governance • ESG Market Leadership Business Excellence Value Creation • Driving organic Growth • Business excellence • M&A • Transformation to CDMO • Strategic sourcing • Tr
Slide 12: Selected Topics 2025
Introduction by the Chairman Selected Topics 2025 • Share price performance • TT Electronics transaction • Profit warning 12
Slide 13: Sustainability and Environmental Responsibility
Introduction by the Chairman Sustainability and Environmental Responsibility • Environmental, social, and governance considerations are firmly embedded in Cicor’s strategy • Continued reduction in energy consumption relative to sales and increased share of renewable energy in 2025. • Cicor aims to i
Slide 14: Outlook and 2028 Ambition
Introduction by the Chairman Outlook and 2028 Ambition 2026 • Expected sales of CHF 700-750 million • Adjusted EBITDA of CHF 70-80 million • Return to organic growth expected, supported by a positive book-to-bill ratio • Slower start to the year, with momentum building throughout 2026 • Integration,
Slide 15: Management Update
Alexander Hagemann Management Update 15
Slide 16: Cicor Group – Facts and figures
Cicor Group – Facts and figures Cicor has become one of the leading design and manufacturing partners for advanced electronics in Europe 2025 Sales 2025 EBITDA CHF 616.5 million CHF 64.6 million* Growth of 28.2% EBITDA margin 10.5%* 2025 Earnings per share 2025 Free Cash Flow CHF 7.45* CHF 49.1 mill
Slide 17: Unique strategic positioning
Market and Business Unique strategic positioning Applications that matter CDMO Active Business Consolidator Excellence High-Mix Low- Volume @ scale Pan-European market access 17
Slide 18: Our focus: High end electronics for applications that matter
Market and business Our focus: High end electronics for applications that matter Aerospace & Defence (A&D) Healthcare Technology Industrial 19% of pro-forma FY 2025 sales* 37% of pro-forma FY 2025 sales* 28% of pro-forma FY 2025 sales* 26% of sales in 2025 19% of sales in 2025 38% of sales in 2025 S
Slide 19: Key Partnerships
Serving the biggest names of Aerospace and Defence Key Partnerships New partnership with KONGSBERG (announced February 2026) 19
Slide 20: HMLV at scale – driving margins and customer loyalty
High-Mix Low-Volume (HMLV) business model HMLV at scale – driving margins and customer loyalty • No cluster risk from individual customers • Decoupled cycles – robust in volatile times • Agility and flexibility through decentralised organisation • Scale effects in procurement, manufacturing, SG&A Re
Slide 21: Unique pan-European market access, global manufacturing
Expanding Cicor’s global footprint Unique pan-European market access, global manufacturing • Footprint 2025: M&A has increased manufacturing and engineering presence in 7 markets • Market access to >70% of European electronics OEMs (by EMS market size) • Tailor-made manufacturing solutions: Sovereig
Slide 22: Cicor in 2025
Alexander Hagemann Cicor in 2025 22
Slide 23: Highlights 2025
Cicor in 2025 Highlights 2025 Transformative growth – sales increased to CHF 616.5 million (+28%) Five strategic acquisitions completed, significantly expanding European footprint and market entry into USA Record adjusted EBITDA – margin temporarily diluted by acquisitions Strong free cash flow gene
Slide 24: EMS Division returning to organic growth
Electronic Manufacturing Services (EMS) EMS Division returning to organic growth 2025 Sales 2025 Sales 2025 EBITDA margin CHF 584.0m + 33.3% 10.9%* • Small organic growth of 0.1%, outperforming the cyclically declining EMS market • Further market share gains despite challenging environment, strong o
Slide 25: AS Division improves cost structure
Advanced Substrates (AS) AS Division improves cost structure 2025 Sales 2025 Sales 2025 EBITDA margin CHF 35.3m - 22.2% 10.8%* • Lower demand driven by two medical device customers reducing their inventory levels • Improved cost structure through operational excellence • Ulm site closed and producti
Slide 26: Building momentum into 2026
Business Update Q1 / 2026 Building momentum into 2026 Order Intake Sales Book-to-Bill CHF 196.4m CHF 160.7m 1.22 Q1/25: CHF 125.8m Q1/25: CHF 131.1m Q1/25: 0.96 • Strong order intake driven by new key customer wins in Aerospace & Defence • Sales growth of 22.6%, supported by acquisitions; temporary
Slide 27: Strategic value creation through M&A with a step change in 2025
Driving Industry Consolidation in Europe Strategic value creation through M&A with a step change in 2025 2021 2022 2023 2024 2025 2026 onwards December 2021 January 2024 January 2025 • Focus on driving strategic May 2022 January 2023 United Kingdom Germany United Kingdom Germany Germany, Tunisia and
Slide 28: Financial Results FY 2025
Peter Neumann Financial Results FY 2025 28
Slide 29: Key Figures 2022 to 2025
Year End Report 2025 Key Figures 2022 to 2025 • Cicor progressed extremely well on its growth strategy with adjusted EBITDA doubling and adjusted net profit almost tripling over the past three years • Strong Free Cash Flow conversion provides Cicor financial flexibility for future growth • 2025 mark
Slide 30: Key Figures EBITDA reported to adjusted
Year End Report 2025 Key Figures EBITDA reported to adjusted • Key figures show both reported and adjusted measures • Given the high level of acquisition activity, this approach enhances transparency and comparability with peers • In 2025 the key one-time EBITDA adjustments were: • Write down of TT
Slide 31: Long-Term View – Impact of Cicor Growth Strategy
Year End Report 2025 Long-Term View – Impact of Cicor Growth Strategy CHF million % 750 15 3.5 12.6% 11.9% 3.0 600 10.5% 10.5% 2.75 9.7% 2.5 10 1.96 450 2.0 1.5 1.34 300 616 1.10 481 5 0.94 390 1.0 0.71 150 313 239 0.5 0 0 0.0 2021 2022 2023 2024 2025 2021 2022 2023 2024 2025 Sales adj. EBITDA margi
Slide 32: Financial achievements year end 2025
Year End Report 2025 Financial achievements year end 2025 CHF million Orders received Net Sales EBITDA EBIT Net Profit Free Cash Flow excl. Acquisition +46.5% +28.2% -19.7% +6.4% -0.8% -5.3% 645.0 616.5 64.6 47.5 47.2 34.5 61.1 60.7 32.7 56.3 480.8 49.1 440.4 30.8 16.9 ROS ROS ROS ROS ROS ROS ROS RO
Slide 33: Key Figures per Share
Year End Report 2025 Key Figures per Share 2025 2024 %YoY • OEP conversion of Mandatory Convertible Number of registered shares issued (millions) 31.12. 4.67 4.56 2.3% Bond has simplified Cicor’s Number of treasury shares (millions) 31.12. -0.28 -0.31 -9.4% capital structure Number of outstanding re
Slide 34: Long-term Development of Adjusted Earnings per Share
Year End Report 2025 Long-term Development of Adjusted Earnings per Share CHF million CHF • Cicor’s EPS develops in line with 50 10 its growth journey • EPS 2025 impacted by dilution of 7.85 margin due to acquired 40 7.45 8 companies in 2025 • EPS impacted by FX 30 6 • 2023: -0.93 CHF per Share 48 4
Slide 35: Financial Mid-Term Objectives for 2028
Financial Mid-Term Objectives for 2028 Creating Together: Establishing the pan-European leader Organic Growth Revenue Profitability Other EBIT ROIC 1) >1’000 7-10% >15% 7-10% Net Debt / EBITDA million <2.75 p.A. EBITDA CHF 10-13% Capex 2.5-3.0% • Gaining market share through focus on strategic verti
Slide 36: 2028 vision in context of past performance
Year End Report 2025 2028 vision in context of past performance 2028 Mid-Term Objectives CHF million >1’000 2025 pro forma 691 616 2020 year-over-year Year-over-year Growth 23.7% Growth >15% 10.5% 215 Organic 6.3% margin Organic 7-10% 10-13% margin Inorganic 19.1% pro forma Inorganic 7-10% 9% margin
Slide 37: Outlook 2026
Alexander Hagemann Outlook 2026 37
Slide 38: Outlook and 2028 Ambition
Introduction by the Chairman Outlook and 2028 Ambition 2026 • Expected sales of CHF 700-750 million • Adjusted EBITDA of CHF 70-80 million • Return to organic growth expected, supported by a positive book-to-bill ratio • Slower start to the year, with momentum building throughout 2026 • Integration,
Slide 39: List of attendance
Daniel Frutig List of attendance 39
Slide 40: List of attendance
Annual General Meeting 2026 of Cicor Technologies Ltd. List of attendance Number of shareholders present Total shares represented Total share capital represented This corresponds to 65.10 % of the shares issued Representation by + Independent proxy + Present shareholders & third party cicor 61 3'040
Slide 41: Electronic Voting Procedure
Daniel Frutig Electronic Voting Procedure 41
Slide 42: Electronic Voting Procedure
Annual General Meeting 2026 of Cicor Technologies Ltd. Electronic Voting Procedure For voting, we use the voting devices that you received when you entered the room. • To activate and unlock the device, swipe right on the lock screen. T-00001T Swipe right to unlock 42
Slide 43: Electronic Voting Procedure
Annual General Meeting 2026 of Cicor Technologies Ltd. Electronic Voting Procedure English Cicor Technologies Ltd. Muster Thomas For voting, we use the voting devices that you received when you entered the room. • To activate and unlock the device, swipe right on the lock Positions Shares 100 Agenda
Slide 44: Electronic Voting Procedure
Annual General Meeting 2026 of Cicor Technologies Ltd. Electronic Voting Procedure English Cicor Technologies Ltd. Muster Thomas • For every vote, the device will automatically be unlocked and display the Voting session ongoing ~~~~~ vote on the screen. Proposal • Below the agenda point, three colou
Slide 45: Electronic Voting Procedure
Annual General Meeting 2026 of Cicor Technologies Ltd. Electronic Voting Procedure English Cicor Technologies Ltd. Muster Thomas • The re-elections of the Board of Directors and (agenda point 8) and the Voting session ongoing ~~~~~ Remuneration Committee (agenda point 9) will be cast in multi-vote m
Slide 46: Electronic Voting Procedure
Annual General Meeting 2026 of Cicor Technologies Ltd. Electronic Voting Procedure • If you realise that you have accidentally pressed the wrong button, you can correct this while the time is still running. All you have to do is press the right button once. Only the last vote you cast will count. •
Slide 47: Electronic Voting Procedure
Annual General Meeting 2026 of Cicor Technologies Ltd. Electronic Voting Procedure For technical testing of the voting devices and for demonstration purposes, we are now carrying out a functional test. The test question is: Have you planned your summer holiday yet? • Please pick up the voting device
Slide 48: Agenda Items and Proposals of the Board of Directors
Daniel Frutig Agenda Items and Proposals of the Board of Directors 49
Slide 49: Electronic Voting Procedure
Annual General Meeting 2026 of Cicor Technologies Ltd. Electronic Voting Procedure • If you want to follow the proposal of the Board of Directors, tap the green button. • If you want if you want to vote against the proposal of the Board of Directors, tap the red button. • If you want to abstain, tap
Slide 50: Annual Report including annual financial statements and consolidated financial statements 2025
Annual General Meeting 2026 of Cicor Technologies Ltd. 1 Annual Report including annual financial statements and consolidated financial statements 2025; Report of the statutory auditors Proposal: The Board of Directors proposes that the Annual Report including the annual financial statements and con
Slide 51: Advisory vote on the Remuneration Report 2025
Annual General Meeting 2026 of Cicor Technologies Ltd. 2 Advisory vote on the Remuneration Report 2025 Proposal: The Board of Directors proposes to approve the Remuneration Report 2025 in the form of an advisory vote. Explanation: The Remuneration Report 2025 explains the compensation programs of th
Slide 52: Approval of the report on non-financial matters 2025
Annual General Meeting 2026 of Cicor Technologies Ltd. 3 Approval of the report on non-financial matters 2025 Proposal: The Board of Directors proposes to approve the report on non-financial matters 2025. Explanation: Cicor's Sustainability Report 2025 contains the information required by Article 96
Slide 53: Appropriation of available earnings
Annual General Meeting 2026 of Cicor Technologies Ltd. 4 Appropriation of available earnings Proposal: The Board of Directors proposes that the reported accumulated loss of TCHF 18,166 to be appropriated as follows: Carry forward TCHF –18,166 to new account. No dividend will be paid. Explanation: In
Slide 54: Discharge from liability of the Board and Group Management
Annual General Meeting 2026 of Cicor Technologies Ltd. 5 Discharge from liability of the members of the Board of Directors and the Group Management Proposal: The Board of Directors proposes that discharge be granted to the members of the Board of Directors and the Group Management for their business
Slide 55: Approval of the total compensation of the Board of Directors
Annual General Meeting 2026 of Cicor Technologies Ltd. 6 Approval of the total compensation of the Board of Directors for the next term of office Proposal: The Board of Directors proposes the approval of the maximum total compensation in the amount of CHF 900,000 for four members of the Board of Dir
Slide 56: Approval of the total compensation of the Board of Directors
Annual General Meeting 2026 of Cicor Technologies Ltd. 6 Approval of the total compensation of the Board of Directors for the next term of office 62
Slide 57: Approval of the total compensation of the Board of Directors
Annual General Meeting 2026 of Cicor Technologies Ltd. 6 Approval of the total compensation of the Board of Directors for the next term of office The cash payment is made quarterly. The entitlements to shares are allocated at the beginning of the term of office and converted into shares in Cicor Tec
Slide 58: Approval of the total compensation of the Group Management for 2027
Annual General Meeting 2026 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2027 Proposal: The Board of Directors proposes the approval of the total compensation of the members of the Group Management for the financial year 2027 in the m
Slide 59: Approval of the total compensation of the Group Management for 2027
Annual General Meeting 2026 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2027 Element Purpose Structure Factors Basic salary, Retention, Monthly remuneration in cash Motivation Social Security Protection against risks, Insurance polic
Slide 60: Approval of the total compensation of the Group Management for 2027
Annual General Meeting 2026 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2027 The proposed maximum total amount of compensation for the Group Management of CHF 6,500,000 consists of the following components: a fixed compensation in th
Slide 61: Approval of the total compensation of the Group Management for 2027
Annual General Meeting 2026 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2027 The proposed maximum total amount of CHF 6,500,000 is higher than the approved maximum total amount of compensation of the Group Management for the financia
Slide 62: Re-election of the Board of Directors
Annual General Meeting 2026 of Cicor Technologies Ltd. 8 Re-election of the Board of Directors Proposals: 8.1 Re-election of Mr. Daniel Frutig to the Board of Directors and as its Chairman for a term of office of one year 8.2 Re-election of Ms. Norma Corio to the Board of Directors for a term of off
Slide 63: Re-election of the Remuneration Committee
Annual General Meeting 2026 of Cicor Technologies Ltd. 9 Re-election of the Remuneration Committee Proposals: 9.1 Re-election of Mr. Daniel Frutig as a member of the Remuneration Committee for a term of office of one year 9.2 Re-election of Mr. Konstantin Ryzhkov as a member of the Remuneration Comm
Slide 64: Re-election of the statutory auditors
Annual General Meeting 2026 of Cicor Technologies Ltd. 10 Re-election of the statutory auditors Proposal: The Board of Directors proposes the re-election of KPMG AG for a further term of office of one year. Explanation: KPMG has performed its duties impeccably over several years. The Board of Direct
Slide 65: Re-election of the independent proxy
Annual General Meeting 2026 of Cicor Technologies Ltd. 11 Re-election of the independent proxy Proposal: The Board of Directors proposes the re-election of Athemis Avocats Sàrl, Rue Jaquet-Droz 32, Case Postale 1548, 2301 La Chaux-de-Fonds, as independent proxy for the term of office until and inclu
Slide 66: Thank You Q&A Session
Thank You Q&A Session cicor.com Cicor Group @cicor.group
Cicor Technologies — Shareholder Meeting (April 2026) on 6ix