4Segment Reporting

Cicor defines its reportable segments based on the internal reporting to its Board of Directors. They base their strategic and operational decisions on these monthly distributed reports, which include the aggregated financial data for the Group and for the divisions. The two divisions, EMS and AS, have been identified as the two reportable segments.

The Electronic Manufacturing Services (EMS) division provides full-cycle electronic solutions from research and development to manufacturing and supply chain management for customers in the medical, industrial and aerospace & defence sectors, while the Advanced Substrates (AS) division provides its customers with high-quality printed circuit boards as well as thin-film substrates.

For internal reporting and therefore the segment reporting, the applied principles of accounting and valuation are the same as in the consolidated financial statements. Intersegment sales are recognised at arm’s length.

Sales by Region and by Industry

Major Customers

Cicor Group’s biggest customer contributed less than 6% (2024: less than 6%) to the Group’s consolidated sales. In 2025, about 26% (2024: about 34%) of total Group net sales can be attributed to the Group’s top ten clients.