euro adhoc: Cicor Technologies / Annual Reports / Strong Growth for Cicor Technologies - Improved sales and earnings in the first half of 2006 driven mainly by acquisitions

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Disclosure announcement transmitted by euro adhoc.
The issuer is responsible for the content of this announcement.
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22.09.2006

Cicor Technologies is a Neuchâtel-based industrial group that
specializes in manufacturing complex printed circuit boards and in
EMS (electronic manufacturing services). In the first half of 2006
the group increased its overall operating income from CHF 27.6
million to CHF 90.7 million, and its EBITDA by 71.1% from CHF 5.9
million to CHF 10.1 million. Net profit increased by 88.8% to CHF 5.2
million (previous year CHF 2.8 million). The improved results are due
mainly to the consolidation of Electronicparc Holding AG, acquired on
1st July 2005, whose subsidiaries now form the EMS Division of Cicor
Technologies.

The company's rapid development is also reflected in its balance
sheet. With shareholder's equity of CHF 114.0 million on 30 June
2006, and an improved equity ratio of 54.5% (53.2% as per 31 December
2005), Cicor Technologies continues to be solidly funded. Total
assets as at the balance sheet date were CHF 209.3 million.

Group consolidation as the basis for future development The
acquisition of the companies in the EMS Division has given Cicor
Technologies the critical mass it needs for future growth. Following
the rapid expansion of the past, during the first half of 2006 the
group was concerned primarily with consolidating existing activities
and strengthening its industrial and financial platform. The client
portfolios of both divisions were streamlined in order to further
increase efficiency and to create free capacity for new projects with
high growth potential. In addition, a whole series of measures were
taken in both divisions to improve added value. Activities involving
a large amount of manual work were moved to more cost-effective
locations, and Systronics, part of the EMS Division, was realigned.
In future it will be in a position not only to function as an
intra-group supplier, but also to operate on the open market as an
independent company with its own client portfolio.

In parallel with these operational measures, group structures have
been streamlined and the management team has been strengthened, with
the Board of Directors appointing Franz Rutzer (45) as the group's
new CFO. He will take up his post in the middle of October 2006. The
management of Cicorel SA in Boudry was reinforced with the
appointment of a new Unit Manager and a new Head of Production.
Cicorel SA was merged with another group company involved in the
manufacture of printed circuit boards, NMS SA in Moudon. In the
meantime these measures have already had a positive effect on
productivity.

Confident outlook For the full 2006 financial year, Cicor
Technologies expects sales of around CHF 180 million and another
substantial year-on-year improvement in net profit. This year sees
the full consolidation of all group company activities for the first
time.

The group's dynamic development should continue, with
acquisition-driven growth remaining a key element of its strategy.
Options are currently being examined in Europe and Asia.

The half-year report can be downloaded in German, French and English
from the Cicor Technologies website (www.cicor.ch).

end of announcement euro adhoc 22.09.2006 17:35:00
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ots Originaltext: Cicorel Holding SA
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:
Christian Welter
Executive Director of Cicor Technologies
Tel. +41 79 409 40 91
E-mail christian.welter@cicor.ch

Robert Demuth
CEO
Tel. +41 79 401 02 01
E-mail robert.demuth@cicor.ch

Branche: Technology
ISIN: CH0008702190
WKN: 8702190
Index: SPI, SSCI, SPIEX
Börsen: Frankfurter Wertpapierbörse / free trade
SWX Swiss Exchange / official market