1Sustainability Strategy Management

1.1Responsibility and commitment

The Cicor Group is a development and manufacturing partner operating globally providing innovative technology solutions for the electronics industry. Cicor offers highly complex printed circuit boards (PCBs) and hybrid circuits, in addition to electronic manufacturing services (EMS), such as microelectronic assembly and plastic injection molding. With 2,217 employees across twelve production sites, the Group supplies customized products and services – design to finished products – from one source.

Cicor places a strong emphasis on sustainability across all levels of the company. The corporate strategy, including sustainability aspects, is determined by the Board of Directors, who also discuss sustainability issues with management several times a year, depending on urgency. Rather than being discussed in a separate committee, sustainability is integrated throughout the company. Results and progress towards sustainability goals are reviewed annually by the Board of Directors and management.

The Annual Report includes a review and approval of sustainability reporting on material topics. Responsibility for economic, environmental, and social topics is clearly defined within the management structure, with those responsible reporting directly to management. The Board of Directors is always available to address stakeholder and shareholder concerns; concerns raised at the Annual General Meeting are handled in accordance with the Articles of Association. In 2022, no significant concerns were raised directly with the Board of Directors outside the Annual General Meeting.

For more details on the governance arrangements, please refer to the Corporate Governance Report.

Cicor is aware that being a sustainable company is a priority for its customers. The Group recognizes that upholding strong Environmental, Social and Governance (ESG) values is paramount to its success, not only to be a responsible corporate citizen but because ESG management is a key partnership criterion for some of its customers. Customers’ perceptions of Cicor’s ESG practices can impact their decision to place orders.

The guiding principles for thought and action at Cicor are meeting customer expectations, ongoing improvement, and fulfilling relevant legal requirements at all times. Thus, Cicor’s corporate policy incorporates all three of these commitments. Fulfilling this aim requires consistent, high-quality services that use minimal resources and support firstrate occupational safety. Therefore, Cicor’s quality policy, environmental policy, and health and safety policy are equal components of the corporate policy. Its performance on these priorities is how the Group measures its success in meeting its corporate policy.

Cicor also expects its suppliers to mirror its commitment by executing business operations that preserve the environment, contribute to the social wellbeing of the communities in which they are present and demonstrate accountability and transparency in sustainability performance. Furthermore, the Group seeks partnerships with suppliers dedicated to continuously improving their sustainability programs, and who share Cicor’s goal of zero harm. The health and safety of the public should be safeguarded at all times, while any adverse effects to communities, environment and natural resources must be continually minimized. To this end, suppliers must adhere to appropriate environmental permits and reporting, pollution prevention and waste reduction, hazardous substance management, wastewater and solid waste controls and processes, air emissions controls and procedures, and all applicable laws and regulations regarding materials restrictions. With this shared commitment, suppliers assist Cicor in achieving its sustainable supply chain objectives by continuously delivering price competitive and environmentally sound goods and services.

Mission statement

As an internationally active company with a strong brand, Cicor generates steadily growing value for its customers, shareholders and employees while offering innovative products and services for a range of technologically demanding applications within the electronics industry. Cicor uses the vast expertise within the company and cooperation across different divisions to keep developing new technologies. The Group strives to be an attractive employer that encourages an open and honest corporate culture.

Core values

  • Intense collaboration and use of synergies
  • Passionate and firm commitment to customers
  • Meticulous, fast and disciplined execution
  • Resolute in obtaining continuous improvement
  • Persistent drive to succeed

1.2Material topics

This report has been drafted to fulfill the standards of the GRI Standards. As a basis for this sustainability report, a materiality analysis was carried out in 2021. This process started with an analysis that evaluated a wide range of internal (documents, guidelines, directives) sources and external sources (sustainability standards, industry information, peer analysis). Material topics were those identified by Cicor as important from an internal company perspective and/or from the perspective of external stakeholders, and/or have a significant economic, environmental or social impact. The topics were determined and evaluated in a workshop with Cicor’s management. The materiality matrix shows the results of this material topic analysis.

Materiality matrix

1.3Stakeholder management

Establishing and maintaining good relationships with all stakeholders is essential for long-term business success. Cicor defines stakeholders as individuals or groups that have an economic relationship with the company and/or are affected by the company’s actions. Within the divisions, stakeholders are identified and prioritized through management reviews, SWOT (strengths, weaknesses, opportunities and threats) analysis or specific stakeholder analysis as part of the certification processes. The most important stakeholders include customers, employees, suppliers, and shareholders. Cicor regularly exchanges information with all stakeholders to understand the individual needs of each stakeholder group and identify new developments and market requirements in a timely manner. Depending on the group, this contact takes place in different ways and at different levels, while day-to-day communication is the paramount interaction – that is, regular contact with customers and suppliers, and personal discussions with employees to assess satisfaction and wellbeing. The goal of these interactions is to bring business-relevant issues to light.

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