Cicor Technologies · SIX:CICN
Cicor Technologies — Shareholder Meeting (April 2025)
87 slides from Cicor Technologies's shareholder meeting presentation, Apr 17, 2025
Slide 1: Annual General Meeting 2025 Cicor Technologies Ltd.
Annual General Meeting 2025 Cicor Technologies Ltd. 17 April 2025 Daniel Frutig Chairman of the Board of Directors
Slide 2: Opening
cicor Daniel Frutig Opening
Slide 3: Opening
Annual General Meeting 2025 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: List of attendance
cicor areg.ch List of attendance
Slide 5: Agenda of the AGM 2025
Daniel Frutig Agenda of the AGM 2025 5
Slide 6: Agenda Items and Proposals of the Board of Directors
Annual General Meeting 2025 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 7: Agenda Items and Proposals of the Board of Directors
Annual General Meeting 2025 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 2026 8. Increase of the upper limit of the capital band to 120%, renewal and limitation for excluding share
Slide 8: Agenda Items and Proposals of the Board of Directors
Annual General Meeting 2025 of Cicor Technologies Ltd. Agenda Items and Proposals of the Board of Directors 10. Re-election of the Remuneration Committee 10.1 Re-election of Mr. Daniel Frutig 10.2 Re-election of Mr. Konstantin Ryzhkov 11. Re-election of the statutory auditors 12. Re-election of the
Slide 9: Introduction by the Chairman
Daniel Frutig Introduction by the Chairman 9
Slide 10: Key Results 2024
Introduction by the Chairman Key Results 2024 CHF 480.8 million +23.3% Net sales from deliveries and Sales growth compared to services previous year 12.1% 82% EBITDA margin Sales in strategic target markets of medical, industry, and A&D CHF 6.20 3,450 Earnings per share (EPS) Employees worldwide (Ap
Slide 11: Economic and Geopolitical Environment
Introduction by the Chairman Economic and Geopolitical Environment • Continued focus on high-margin segments and targeted acquisitions enable Cicor to further strengthen its market position • Cicor has limited exposure to US import tariffs, but is increasingly at risk of an economic slowdown and ren
Slide 12: 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 13: Our Beacon: Strategy 2028
Introduction by the Chairman Our Beacon: Strategy 2028 Cicor 2028 “Creating Together” Market Innovation Sustainability Operational Employee and Digital Strategic Leadership and Leadership and Excellence and Corporate Transformation Acquisitions Growth Goals through Environmental Efficiency Culture a
Slide 14: Sustainability and Environmental Responsibility
Introduction by the Chairman Sustainability and Environmental Responsibility • Environmental, social, and governance considerations are firmly embedded in Cicor’s strategy • Significant reduction in energy consumption (in relation to sales) and increase of renewable energy in 2024 • Cicor aims to in
Slide 15: Motions to Shareholders
Introduction by the Chairman Motions to Shareholders • The successful completion of the mandatory bond conversion by OEP marks an important step in simplifying Cicor's capital structure • Agenda item 8: Proposed adjustment of the upper limit of the capital band to 120% to provide Cicor with further
Slide 16: Management Update
Alexander Hagemann Management Update 16
Slide 17: Building the European Leader in High-End Electronics until 2028
Cicor Vision Statement 2028 Building the European Leader in High-End Electronics until 2028 We are the leading pan-European electronics design and manufacturing partner for healthcare technology, aerospace/- defence and industrial, recognised as an employer of choice, committed to operating sustaina
Slide 18: Fastest growing design and manufacturing partner for advanced electronics in Europe
The Cicor Group Fastest growing design and manufacturing partner for advanced electronics in Europe 2024 Sales 2024 EBITDA CHF 480.8 million CHF 58.4 million Organic growth ahead of Electronic Mid-Term 10-13% margin. Manufacturing market Top profitability vs peer group 2024 Earnings per share 2024 F
Slide 19: Turning ideas into advanced electronic solutions
Electronification of everything Turning ideas into advanced electronic solutions Healthcare Technology Industrial Aerospace & Defence (A&D) 24% of sales in 2024 33% of sales in 2024 25% of sales in 2024 Cicor helps improve Cicor is at the forefront Cicor ensures safety, global healthcare by the of t
Slide 20: European market leader for Aerospace & Defence EMS
Building ofin 2023 29% of sales leading platforms in attractive markets Bedford, UK European market leader for Radeberg, Germany Newport, UK Gosport, UK Ulm, Germany Aerospace & Defence EMS Boudry, Switzerland Bronschhofen, Switzerland Wangs, Switzerland • Serving most of the leading A&D integrators
Slide 21: Focus on Sustainability – 2024 Highlights
Cicor Group Focus on Sustainability – 2024 Highlights Energy Cicor Newport 16% lowered energy 98% Renewables consumption On track to be the first site within Cicor Group to be climate-neutral in own in relation to net sales operations Gender Diversity Waste 52% Women 57% Recycling Ratio in global Ci
Slide 22: Cicor in 2024
Alexander Hagemann Cicor in 2024 22
Slide 23: Highlights 2024
Cicor in 2024 Highlights 2024 Significant market share gains Successful acquisitions and integrations Increased profit margins at all levels – EPS jumping to CHF 6.20 Strong free cash flow generation – low debt leverage Strategy 2028 – "Creating Together“ 23
Slide 24: Focus on target markets
Cicor in 2024 Focus on target markets Sales by industry Sales by region 24
Slide 25: EMS Division achieves breakthrough in the European market
Electronic Manufacturing Services (EMS) EMS Division achieves breakthrough in the European market • High resilience against adverse market influences • Market share gains • Four strategically and financially significant acquisitions • Quadrupled product development capacities for the medical technol
Slide 26: AS Division continues positive development
Advanced Substrates (AS) AS Division continues positive development • Both the printed circuit board and the hybrid circuit businesses performed well • Increased sales primarily through organic growth • The Boudry site continued building on operational excellence and achieved key milestones in new c
Slide 27: Business Update Q1/2025
Business Update Q1/2025 Cicor continues to grow in double digits – successful integration and M&A activities strengthen growth • Sales increased by 22.2 % to CHF 131.1 million (Q1/2024: CHF 107.3 million) • Order intake increased by 29.1 % year-on-year to CHF 125.8 million – B2B rate of 0.96 • Flat
Slide 28: Driving Industry Consolidation in Europe
Alexander Hagemann Driving Industry Consolidation in Europe 28
Slide 29: Timeline of completed and signed acquisitions
Driving Industry Consolidation in Europe Timeline of completed and signed acquisitions Carve-out from Carve-out from Mar-2024 Carve-out of three sites May-2025 (tbc) Dec-2021 Jan-2023 from TT Electronics Jan-2025 Carve-out of one site in Establishing a Further strengthening strengthens UK Strengthen
Slide 30: M&A projects to be closed in 2025
M&A projects to be closed in 2025 Expansion into France, Spain while further strengthening European position in Aerospace & Defence Acquisition of Malaga Aerospace and Defence SAU (Spain) • Transaction signed 04/2025, closing expected in H2/2025 • Market entrance in Spain • Strong relationship with
Slide 31: M&A Strategy – Acquired companies delivering excellent results
Value creation through M&A M&A Strategy – Acquired companies delivering excellent results Growth Acceleration Profitability step-up FCF Generation CHF 208 M CHF 25 M CHF 130 M Revenue (LTM pre-closing) EBITDA (LTM pre-closing) of net cash outlay from 7 acquisitions * from 7 acquisitions * from 7 acq
Slide 32: Financial Results FY 2024
Peter Neumann Financial Results FY 2024 32
Slide 33: Key Figures 2021 – 2024
Financial Results FY 2024 Key Figures 2021 – 2024 in CHF million 20211) in % 20221) in % 20231) in % 2024 in % Order entry 286.6 119.9 358.9 114.6 399.8 102.5 440.4 91.6 Net sales 239.0 100.0 313.2 100.0 389.9 100.0 480.8 100.0 Change to previous year (in %) 11.2 31.0 24.5 23.3 - Organic growth (in
Slide 34: Financial achievements Year End 2024
Financial Results FY 2024 Financial achievements Year End 2024 CHF million Orders received Net sales EBITDA EBIT Net profit FCF excl. Acquisition +10.2% +23.3% +29.3% +131.7% +132.7% 31.1% 440.4 480.8 58.4 38.1 27.3 61.1 399.8 389.9 45.1 29.0 11.8 26.3 ROS ROS ROS ROS ROS ROS 11.6% 12.1% 7.4% 7.9% 3
Slide 35: Consolidated Income Statement
Financial Results FY 2024 Consolidated Income Statement YE 2024 in % YE 2023 in % %YoY • Record high in Net sales and EBITDA in CHF millions restated • EBITDA margin increase to 12.1% despite Net sales 480.8 100.0 389.9 100.0 23.3 negative one-time impacts of Material expenses -241.9 -50.3 -207.2 -5
Slide 36: EBITDA - one-time impacts and acquisitions pro forma
Financial Results FY 2024 EBITDA - one-time impacts and acquisitions pro forma CHF million +3.6 +5.8 (+6.3%) (+9.9%) • PPA Impacts1) are one-time adjustment on Inventory of 64.1 Acquisitions and onerous contracts CHF 1.2 million 62.0 +2.1 • EBITDA for new acquisitions in 2024 for full twelve +1.3 +0
Slide 37: Consolidated Balance Sheet
Financial Results FY 2024 Consolidated Balance Sheet 2024 in % 2023 in % in CHF millions restated • Net debt increased slightly by CHF 0.6 Current assets 302.9 72.6 251.9 73.1 million Non-current assets 114.2 27.4 92.6 26.9 Total Assets 417.1 100.0 344.5 100.0 • Financial leverage of 0.74 in line wi
Slide 38: Consolidated Cash Flow Statement
Financial Results FY 2024 Consolidated Cash Flow Statement 2024 2023 in CHF millions restated • Strong cash flow from operating activities Net profit 27.3 11.8 driven by strong net income performance Depreciation, amortization and impairment 20.3 16.1 and proven working capital management Other non
Slide 39: Operating Net Working Capital
Financial Results FY 2024 Operating Net Working Capital CHF million % 200 50 • Absolute increase in ONWC due to 45 acquisitions 40 150 34.8% 35 • Very favorable development in ONWC in % of 30.3% 24.8% net sales as a result of improved inventory 26.5% 30 25.7% management (customer funded inventory) a
Slide 40: Return on Invested Capital
Financial Results FY 2024 Return on Invested Capital CHF million % 14.7% 40 15 • ROIC above Cicor’s cost of capital 35 11.4% 30 • New ROIC definition in line with the change 10 in accounting for goodwill as disclosed in 25 8.6% footnote 8.0% 20 6.7% 38.1 • Steady increase in ROIC demonstrates 15 29.
Slide 41: Key Figures per Share
Financial Results FY 2024 Key Figures per Share 2024 2023 Change % • OEP conversion of Mandatory restated Convertible Bond has simplified Cicor’s Number of registered shares issued 31.12. 4 564 946 3 411 169 +33.8% capital structure Number of Treasury shares 31.12. - 307 007 - 249 404 +23.1% Number
Slide 42: Long-term development of Earnings per Share
Financial Results FY 2024 Long-term development of Earnings per Share CHF million CHF 40 6.20 6.5 • Positive development of EPS as a result of 6.0 improved Net Profit performance with the 35 5.5 implementation of Cicor’s growth strategy 30 5.0 4.5 25 4.0 3.5 20 38.1 2.71 2.66 3.0 2.47 15 29.0 2.5 27
Slide 43: Mid-term Targets
Peter Neumann Mid-term Targets 43
Slide 44: 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% million Net Debt / EBITDA p.A. EBITDA <2.75 CHF 10-13% Capex 2.5-3.0% • Gaining market share through focus on strategic verti
Slide 45: 2028 vision in context of past performance
Financial 2028 Mid-Term Objectives 2028 vision in context of past performance 2028 Mid-Term Objectives CHF million >1’000 2024 2020 481 year-over-year Year-over-year Growth 22.5% Growth 20% 215 Organic 8.3% Organic 7-10% 10-13% Margin 12% Margin Inorganic 15.7% Inorganic >12-15% 9% Margin 100-130 FX
Slide 46: Outlook 2025
Alexander Hagemann Outlook 2025 46
Slide 47: Resilience and continued growth
Guidance Resilience and continued growth • Following a slight decline in organic sales, Cicor expects a normalisation in 2025, though the anticipated further appreciation of the Swiss franc remains a challenge • Insignificant direct impact of US tariffs as < 1 % of sales will be directly affected an
Slide 48: Electronic Voting Procedure
Daniel Frutig Electronic Voting Procedure 48
Slide 49: Electronic Voting Procedure
Annual General Meeting 2025 of Cicor Technologies Ltd. Electronic Voting Procedure For voting, we use the voting devices that you received when you entered the room. • If you press the information button at the top centre, you can see the number of shares you represent. • In the second row, three co
Slide 50: Electronic Voting Procedure
Annual General Meeting 2025 of Cicor Technologies Ltd. Electronic Voting Procedure • You have 10 seconds to cast your vote. • 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. O
Slide 51: Electronic Voting Procedure
Annual General Meeting 2025 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 already done your spring cleaning this year? • Please pick up the v
Slide 52: Agenda Items and Proposals of the Board of Directors
Daniel Frutig Agenda Items and Proposals of the Board of Directors 53
Slide 53: Electronic Voting Procedure
Annual General Meeting 2025 of Cicor Technologies Ltd. Electronic Voting Procedure • If you want to follow the proposal of the Board of Directors, press the green button. • If you want if you want to vote against the proposal of the Board of Directors, press the red button. • If you want to abstain,
Slide 54: Annual Report including annual financial statements and consolidated financial statements 2024
Annual General Meeting 2025 of Cicor Technologies Ltd. 1 Annual Report including annual financial statements and consolidated financial statements 2024; Report of the statutory auditors Proposal: The Board of Directors proposes that the Annual Report including the annual financial statements and con
Slide 55: Advisory vote on the Remuneration Report 2024
Annual General Meeting 2025 of Cicor Technologies Ltd. 2 Advisory vote on the Remuneration Report 2024 Proposal: The Board of Directors proposes to approve the Remuneration Report 2024 in the form of an advisory vote. Explanation: The Remuneration Report 2024 explains the compensation programs of th
Slide 56: Approval of the report on non-financial matters 2024
Annual General Meeting 2025 of Cicor Technologies Ltd. 3 Approval of the report on non-financial matters 2024 Proposal: The Board of Directors proposes to approve the report on non-financial matters 2024. Explanation: Cicor's Sustainability Report 2024 contains the information required by Article 96
Slide 57: Appropriation of available earnings
Annual General Meeting 2025 of Cicor Technologies Ltd. 4 Appropriation of available earnings Proposal: The Board of Directors proposes that the reported accumulated loss of TCHF 17,705 to be appropriated as follows: Carry forward TCHF –17,705 to new account. No dividend will be paid. Explanation: In
Slide 58: Discharge from liability of the Board and Group Management
Annual General Meeting 2025 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 59: Approval of the total compensation of the Board of Directors
Annual General Meeting 2025 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 800,000 for four members of the Board of Dir
Slide 60: Approval of the total compensation of the Board of Directors
Annual General Meeting 2025 of Cicor Technologies Ltd. 6 Approval of the total compensation of the Board of Directors for the next term of office 66
Slide 61: Approval of the total compensation of the Board of Directors
Annual General Meeting 2025 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 62: Approval of the total compensation of the Group Management for 2026
Annual General Meeting 2025 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2026 Proposal: The Board of Directors proposes the approval of the total compensation of the members of the Group Management for the financial year 2026 in the m
Slide 63: Approval of the total compensation of the Group Management for 2026
Annual General Meeting 2025 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2026 70
Slide 64: Approval of the total compensation of the Group Management for 2026
Annual General Meeting 2025 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2026 71
Slide 65: Approval of the total compensation of the Group Management for 2026
Annual General Meeting 2025 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2026 The proposed maximum total amount of compensation for the Group Management of CHF 6,000,000 consists of the following components: a fixed compensation in th
Slide 66: Approval of the total compensation of the Group Management for 2026
Annual General Meeting 2025 of Cicor Technologies Ltd. 7 Approval of the total compensation of the Group Management for the financial year 2026 The proposed maximum total amount of CHF 6,000,000 is higher than the approved maximum total amount of compensation of the Group Management for the financia
Slide 67: Increase of the upper limit of the capital band to 120%
Annual General Meeting 2025 of Cicor Technologies Ltd. 8 Increase of the upper limit of the capital band to 120%, renewal and limitation for excluding shareholders' pre-emptive rights 75
Slide 68: Adjustment of capital band's upper limit to 120% and renewal
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.1 Adjustment of capital band's upper limit to 120% and renewal Proposal: The Board of Directors proposes Article 5 quater Article 5 quater to adjust the upper and lower limits of the La limite inférieure de la marge de The lower limit of the c
Slide 69: Adjustment of capital band's upper limit to 120% and renewal
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.1 Adjustment of capital band's upper limit to 120% and renewal Explanation: The Company's objective is to become the leading European provider of EMS in its three primary end markets, where it anticipates sustainable growth and robust long-ter
Slide 70: Adjustment of capital band's upper limit to 120% and renewal
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.1 Adjustment of capital band's upper limit to 120% and renewal The proposed increase of the capital band may also facilitate the use of shares for payment in M&A processes that are conducted as competitive bidding processes, because it removes
Slide 71: Adjustment to limitation for excluding preferential subscription rights
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.2 Adjustment to limitation for excluding preferential subscription rights (conditional resolution) Article 5 quater Article 5 quater Proposal: The Board of Directors Le droit du conseil d'administration de supprimer les The right of the Board
Slide 72: Adjustment to limitation for excluding preferential subscription rights
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.2 Adjustment to limitation for excluding preferential subscription rights (conditional resolution) Explanation: In accordance with standard market practice for authorizing the Board of Directors to increase capital and exclude pre-emptive righ
Slide 73: Adjustment to limitation for excluding preferential subscription rights
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.2 Adjustment to limitation for excluding preferential subscription rights (conditional resolution) Sellers often prefer transactions with minimal delays and uncertainties. The increased capital band and exclusion power allows the Board of Dire
Slide 74: Adjustment to limitation for excluding pre-emptive rights for contributions in kind
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.3 Adjustment to limitation for excluding shareholders' pre-emptive rights in case of payment of the subscription price by means of contribution(s) in kind (conditional resolution) Article 5 quater Article 5 quater Proposal: The Board of Direct
Slide 75: Adjustment to limitation for excluding pre-emptive rights for contributions in kind
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.3 Adjustment to limitation for excluding shareholders' pre-emptive rights in case of payment of the subscription price by means of contribution(s) in kind (conditional resolution) Explanation: Explanation: For the purpose of facilitating strat
Slide 76: Adjustment to limitation for excluding pre-emptive rights for contributions in kind
Annual General Meeting 2025 of Cicor Technologies Ltd. 8.3 Adjustment to limitation for excluding shareholders' pre-emptive rights in case of payment of the subscription price by means of contribution(s) in kind (conditional resolution) The increase of the right to exclude pre-emptive rights from 10
Slide 77: Re-election of the Board of Directors
Annual General Meeting 2025 of Cicor Technologies Ltd. 9 Re-election of the Board of Directors 88
Slide 78: Re-election of Mr. Daniel Frutig
Annual General Meeting 2025 of Cicor Technologies Ltd. 9.1 Re-election of Mr. Daniel Frutig Proposal: Re-election of Mr. Daniel Frutig to the Board of Directors and as its Chairman for a term of office of one year Explanation: The Board of Directors works efficiently and effectively in its current c
Slide 79: Re-election of Ms. Norma Corio
Annual General Meeting 2025 of Cicor Technologies Ltd. 9.2 Re-election of Ms. Norma Corio Proposal: Re-election of Ms. Norma Corio to the Board of Directors for a term of office of one year Explanation: The Board of Directors works efficiently and effectively in its current composition. It has a bal
Slide 80: Re-election of Ms. Denise Koopmans
Annual General Meeting 2025 of Cicor Technologies Ltd. 9.3 Re-election of Ms. Denise Koopmans Proposal: Re-election of Ms. Denise Koopmans to the Board of Directors for a term of office of one year Explanation: The Board of Directors works efficiently and effectively in its current composition. It h
Slide 81: Re-election of Mr. Konstantin Ryzhkov
Annual General Meeting 2025 of Cicor Technologies Ltd. 9.4 Re-election of Mr. Konstantin Ryzhkov Proposal: Re-election of Mr. Konstantin Ryzhkov to the Board of Directors for a term of office of one year Explanation: The Board of Directors works efficiently and effectively in its current composition
Slide 82: Re-election of the Remuneration Committee
Annual General Meeting 2025 of Cicor Technologies Ltd. 10 Re-election of the Remuneration Committee 97
Slide 83: Re-election of Mr. Daniel Frutig
Annual General Meeting 2025 of Cicor Technologies Ltd. 10.1 Re-election of Mr. Daniel Frutig Proposal: Re-election of Mr. Daniel Frutig as a member of the Remuneration Committee for a term of office of one year Explanation: The Board of Directors is convinced that the composition of the Remuneration
Slide 84: Re-election of Mr. Konstantin Ryzhkov
Annual General Meeting 2025 of Cicor Technologies Ltd. 10.2 Re-election of Mr. Konstantin Ryzhkov Proposal: Re-election of Mr. Konstantin Ryzhkov as a member of the Remuneration Committee for a term of office of one year Explanation: The Board of Directors is convinced that the composition of the Re
Slide 85: Re-election of the statutory auditors
Annual General Meeting 2025 of Cicor Technologies Ltd. 11 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 86: Re-election of the independent proxy
Annual General Meeting 2025 of Cicor Technologies Ltd. 12 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 87: Thank You Q&A Session
Thank You Q&A Session cicor.com Cicor Group @cicor.group
Cicor Technologies — Shareholder Meeting (April 2025) on 6ix