-
- News
- Books
Featured Books
- pcb007 Magazine
Latest Issues
Current IssueThe Growing Industry
In this issue of PCB007 Magazine, we talk with leading economic experts, advocacy specialists in Washington, D.C., and PCB company leadership to get a well-rounded picture of what’s happening in the industry today. Don’t miss it.
The Sustainability Issue
Sustainability is one of the most widely used terms in business today, especially for electronics and manufacturing but what does it mean to you? We explore the environmental, business, and economic impacts.
The Fabricator’s Guide to IPC APEX EXPO
This issue previews many of the important events taking place at this year's show and highlights some changes and opportunities. So, buckle up. We are counting down to IPC APEX EXPO 2024.
- Articles
- Columns
Search Console
- Links
- Events
||| MENU - pcb007 Magazine
Cicor Witnessed a Challenging 2015 Financial Year
March 9, 2016 | CicorEstimated reading time: 5 minutes
During 2015, the year under report, the Cicor Group switched its reporting from IFRS to Swiss GAAP FER retrospective as at January 1, 2014. Application of Swiss GAAP FER ensures that the Group will continue to draw up clear and high-quality accounts that present a true and fair view of the assets, financial position and results. The planned, retrospective depreciation of goodwill over five years reduced the equity capital. In addition, the existing pension plans resulted in pension liabilities that were significantly lower than was the case under IFRS. The consolidated balance sheet remained sound following the changes associated with the switch from IFRS to Swiss GAAP FER. With equity of CHF 59.7 million and a balance sheet total of CHF 151.3 million, the equity ratio was 39.5%. Net current assets at the end of 2015 totaled CHF 47.4 million, a reduction of CHF 1.9 million in comparison with 2014. Net debt as at December 31, 2015 was CHF 20.5 million, compared with CHF 21.2 million at the end of 2014. Thanks to the syndicated bank loan facility signed in December 2014, amounting to CHF 65 million, Cicor continued to secure long-term financial flexibility.
Outlook: Challenges in the 2016 Financial Year
Thanks to the investments made in the global footprint and the expansion of production capacities abroad, the Cicor Group was able to reduce significantly its dependency on Switzerland as a production location. However, towards the end of 2015, the tangible cooling of the market targeted by the Group, as well as the falls in international stockmarkets in January 2016, have unsettled the business environment and make it difficult to issue forecasts. Under the same macroeconomic operating conditions as in the 2015 financial year, Cicor is expecting the results of the internal re-structuring to be reflected in growth in sales and results during the second half of 2016. In 2016, the Cicor Group will make every effort to return the business to a sustained path of growth as quickly as possible.
Page 2 of 2Suggested Items
I-Connect007 Editor’s Choice: Five Must-Reads for the Week
04/26/2024 | Andy Shaughnessy, Design007 MagazineIn this week’s roundup, we have a variety of articles covering everything from design through assembly, and even box build. I’ve always wondered whether box build was all it was cracked up to be. Do customers really pick one EMS provider over another because one company offers box build? And if you’ve ever wanted to volunteer, IPC’s Thought Leaders Program is looking for a few good technologists to help them on their mission. Check out Stanton Rak’s article, which was published in the spring issue of IPC Community.
NCAB Group Posts Interim Report Q1 2024
04/26/2024 | NCAB GroupNet sales decreased by 17% to SEK 950.6 million (1,146.4). Compared with the year-earlier period, sales were affected bylower prices and continued inventory adjustments by customers. In USD, net sales decreased 17%. For comparable units, net sales decreased 24% in both SEK and USD.
KYZEN Announces Exclusive Partnership with Manufacturers’ Representative Restronics Florida
04/25/2024 | KYZEN'KYZEN, the global leader in innovative environmentally responsible cleaning chemistries, proudly announces its strategic partnership with Manufacturers’ Representative Restronics Florida. Just like KYZEN’s commitment to continuously improving precision cleaning, Restronics Florida serves as a consultative OEM sales representative organization dedicated to educating customers to enhance their processes and productivity.
Determining the Value-add of Box Build
04/24/2024 | Nolan Johnson, I-Connect007At a strategic level, adding box-building services makes sense for customer loyalty. But is it really that simple? Jon Schmitz, who manages customer engagement at RiverSide Integrated Solutions, talk about about what it really takes to be successful in offering EMS and final assembly services under the same company banner.
Fujitsu, METRON Collaborate to Drive ESG Success
04/24/2024 | JCN NewswireFujitsu Limited and METRON SAS, a French cleantech company specializing in energy management solutions for industrial decarbonization, today announced a strategic initiative to contribute to the realization of carbon neutrality in the manufacturing industry.