Cicor Wins Two Defense Programs Expected to Generate About 20 Million Swiss Francs in 2027

Key Facts

Cicor Group announced on 9 November 2026 that it had won two multi-year defense programs, one with a new customer, in a move the company said would support organic growth in 2027. The group expects the programs to generate revenue of about 20 million Swiss francs that year. Its facilities in France and the United Kingdom will handle production, strengthening its business in Europe's defense, aviation and space markets. Cicor said the new contracts, together with its book-to-bill ratio, provide a basis for organic growth next year. The ratio was 1.17 in the first nine months of 2026, meaning the value of incoming orders exceeded sales recorded during that period.

The company added that the new programs strengthen its position in France's aerospace and defense market and support the expansion of its market leadership in the UK. The sector accounts for a growing share of the group's business: its revenue rose 55% in the first half of 2026 and represented 28% of Cicor's revenue. Over the same period, group revenue increased 19% to 334.1 million Swiss francs, compared with 280.7 million in the first half of 2025. Incoming orders also grew 39.8% to 399.8 million Swiss francs, from 286 million a year earlier. The book-to-bill ratio was 1.2 in the first half, marking the fifth consecutive quarter in which it exceeded one.

When it announced its third-quarter results on 15 October, Cicor said quarterly sales had risen 6.7% to 170.8 million Swiss francs, while incoming orders increased 10.7% to 193.2 million. The book-to-bill ratio was 1.13 in the third quarter. Organic sales growth was 4.6% during the quarter and reached 1.7% in the first nine months of 2026. The company said at the time that shortages of some components, particularly printed circuit boards and memory chips, had constrained organic growth in a market facing tight supply. Cicor maintained its full-year guidance for revenue of between 700 and 750 million Swiss francs and adjusted EBITDA of between 70 and 80 million Swiss francs.

Alongside the contract announcement, Cicor completed the acquisition of the Cicor Senai site in Malaysia's Johor state and implemented the strategic supply agreement it had previously announced with EDMI. The company expects the agreement to add more than 50 million U.S. dollars to its annual revenue. Completion of the deal adds a manufacturing site in Southeast Asia to the group's operations, while Cicor said the Malaysian site would become an integrated part of its global network after the planned investments are made. The announcement therefore offers two distinct avenues for business growth: European defense contracts with expected revenue beginning in 2027, and a supply agreement tied to additional annual revenue. The company did not disclose the acquisition value or a specific timeline for the planned investments in Senai in its statement.