Cicor Technologies Ltd. (0QPR) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, ladies and gentlemen. Welcome to our 2025 Annual Results Conference. Yeah, like usual in previous years, together with Peter Neumann, our CFO, I will give you some of the background and present the results to you. 2025 has been a very busy year, a year in which we have made significant process to towards becoming the pan-European leader in our chosen markets by adding France, by adding Spain and by further strengthening our position in aerospace and defence. That was a very high level of activity and that level of activity also led to very significant one-off costs related to the M&A and as you will see later, we are making adjustments so that underlying performance can be viewed properly. All this before the backdrop of a challenging macroeconomic environment, and I'm sure we'll be talking about that. With what we have achieved in 2025, a foundation is laid for a strong 2026. In short, SECOR has truly become one of the leading design and manufacturing partners for advanced electronics in Europe. With sales of 616 million Swiss francs, we have grown 28%. Order intake has grown even stronger, 46.5%, leading to book-to-bill rate of 1.05. The underlying EBITDA was increasing significantly to 65 million Swiss francs, a margin of 10.5%. Very noteworthy, again, an exceptionally strong free cash flow, which has reached 76% of adjusted EBDA as the result from very effective network and capital management. And Peter will go into detail and explain how we have achieved this. SECOR today is one of the leaders in aerospace and defense, number two in Europe. And with that, we have created a platform that gives us leverage for organic growth. Our focus are markets in applications that matter, where lives or high-value assets are depending on the functioning over th...