Cicor wins important new customers in Q1 and expects organic sales momentum to build throughout 2026
Cicor further strengthened its position in Aerospace & Defence (A&D) in the first quarter of 2026. The Group won two new A&D customers, including Kongsberg, and now counts the majority of the leading European defence suppliers among its customers. Additionally, Cicor France established a new long-term partnership in the railway infrastructure market. Initial orders with these new customers are expected in 2026, with sales contributions starting in 2027, expecting to exceed CHF 20 million annually. The new customer wins are a direct result of Cicor’s unique position as the leading pan-European provider of sovereign manufacturing capabilities for critical markets. The order backlog continues to provide solid revenue visibility for the coming quarters and reflects sustained demand, particularly in Aerospace & Defence.
Net sales in the first quarter of 2026 grew by 22.6% compared to the same period in 2025, reaching CHF 160.7 million. Strong M&A growth of 33.4% was partially offset by organic decline of -6% and a negative FX impact of -4.8% due to the continued strengthening of the Swiss franc. Organic development was temporarily affected as well by constraints in the supply chain and component availability.
Supported by a positive book-to-bill ratio, the Group expects organic growth to return in 2026, with momentum building gradually and the main contribution expected in the second half. This development should be supported by timely customer call-offs, easing component availability constraints and the continued integration of the companies acquired in 2025.
Cicor confirms its guidance for 2026: Group sales are expected to reach between CHF 700 million and CHF 750 million and adjusted EBITDA is projected to be in the range of CHF 70 million to CHF 80 million, under the assumption that the present geopolitical situation will not lead to significant negative effects on Cicor’s core markets or the ability to deliver on its orderbook. Cicor also maintains an active M&A pipeline and continues to pursue acquisitions that strengthen its market position and support long-term profitable growth.
