TCFD: Risk Management GRI 2-22: Statement on sustainable development strategy
Cicor’s 2028 ‘Creating Together’ strategy includes environmental, social, and governance initiatives as identified targets. The ESG scorecard, integrated into the Cicor Business Excellence Model, ensures the continuous improvement and strategic alignment of all sites with the Cicor Sustainability Strategy.
‘Sustainability, across environmental, social, and governance dimensions, is a strategic pillar embedded in our operations. By aligning responsible practices with operational excellence, we strengthen resilience, enhance performance, and create long-term value for all stakeholders.’
Marco Kechele
COO
Active monitoring and systematic risk tracking across all ESG pillars are integral elements of Cicor’s strategy. The Company’s approach goes beyond meeting legal requirements and customer expectations. It is designed to strengthen operational resilience, support informed decision-making, and contribute to long-term business success. By proactively identifying and managing ESG-related risks and opportunities, Cicor enhances its ability to adapt to a changing environment and create sustainable value for all stakeholders.
As part of the Cicor 2028 Strategy, all workstreams combined support the Cicor Sustainability Strategy. These pillars are defined as follows:
2.1Focus on High Growth Verticals
As part of its strategic focus, Cicor concentrates on high-growth verticals where long-term customer value creation is closely linked to quality, reliability, compliance, and sustainability. In particular, the healthcare technology, industrial, and aerospace & defence markets represent key growth areas, characterised by stringent regulatory requirements, complex supply chains, and elevated expectations regarding ESG performance.
Operating in these highly regulated environments requires robust governance structures, comprehensive compliance systems, and transparent risk management processes. Cicor ensures full adherence to all applicable legal, regulatory and industry-specific standards, including those relating to product safety, quality management, data protection, export controls, and supply chain due diligence. Strong governance and compliance frameworks form the foundation for trusted partnerships and long-term customer relationships in these verticals.
Cicor’s integrated ESG approach enables customers in high-growth verticals to navigate regulatory complexity, mitigate risks, and enhance resilience in an increasingly volatile global environment. By combining technological expertise with strong governance and sustainability performance, Cicor positions itself as a reliable and responsible partner that supports sustainable growth and the creation of long-term value for customers and other stakeholders.
2.2Transformation into a True Creator of Products
As part of its strategic development, Cicor is transforming from traditional electronics manufacturing services provider into a creator of products and integrated solutions. This evolution is being driven by the systematic expansion and integration of in-house engineering capabilities, with over 400 engineers, as well as printed circuit board (PCB) manufacturing and thin-film technologies, across the Group.
By strengthening its engineering organisation, Cicor is becoming more involved in the preliminary stages of the product lifecycle, including concept development, design, prototyping, and industrialisation. This early involvement allows for closer collaboration with customers, faster time-to-market, enhanced product quality, and the integration of sustainability, compliance, and regulatory requirements from the outset.
Cicor’s combination of engineering expertise and proprietary PCB and thin-film manufacturing capabilities enables the Company to offer highly integrated, vertically aligned solutions. This reduces supply chain complexity, increases transparency, and enhances resilience, all of which are particularly important in highly regulated and safety-critical markets, including the defined high-growth verticals.
By evolving into a product and solution creator, Cicor enhances customer value creation, supports sustainable innovation, and reinforces its strategic positioning as a dependable and responsible long-term partner. This transformation is a key enabler of the Cicor 2028 strategy, contributing to resilient and sustainable growth in an increasingly complex global environment.
2.3Business Excellence Driving Performance
Business excellence is a key driver of sustainable performance at Cicor. The Company embeds responsibility and sustainability throughout its value chain by combining operational excellence with robust governance, risk management, and compliance frameworks.
Transparency and resilience in the supply chain
Strategic sourcing plays a leading role in Cicor’s approach to value creation and risk mitigation. Procurement processes are aligned with ESG risk management principles to ensure transparency, resilience, and responsible practices across the supply chain. Environmental and social criteria are integrated into supplier selection, evaluation, and development to support compliance with applicable regulations and international standards. This approach strengthens supply chain resilience while addressing ESG-related risks, such as those relating to human rights, environmental impacts, and business continuity.
Comprehensive quality management
Product quality, safety, and regulatory compliance are fundamental to Cicor’s business excellence framework. Operating in highly regulated markets, the Company maintains comprehensive quality management systems to ensure compliance with customer, industry, and legal requirements throughout the product lifecycle. Cicor holds relevant certifications, including internationally recognised standards for quality, the environment, and occupational health and safety, which are regularly reviewed and audited to ensure continuous improvement.
From a governance perspective, ESG risks and opportunities are systematically identified, assessed, and managed as part of the Company’s enterprise risk management framework. Clear policies, defined responsibilities, and internal controls ensure consistent implementation across the organisation and its value chain.
By embedding responsibility into strategic sourcing, product compliance, and operational excellence, Cicor enhances performance, reduces risk, and creates sustainable value for customers and other stakeholders. This integrated approach fosters long-term growth, resilience, and trust within an increasingly complex and regulated business environment.
2.4Accelerate Growth with M&A Supporting the Strategy
To accelerate sustainable and profitable growth, Cicor follows a balanced approach, combining organic growth initiatives with disciplined mergers and acquisitions (M&A). Growth is driven by a clear strategic framework prioritising customer value creation, operational excellence, and financial stability in the short, medium and long term. Organic growth is supported by a structured and selective Request for Quotation (RFQ) process. RFQs are evaluated using defined financial and operational criteria, including margin potential, risk profile, and capacity utilisation. This disciplined approach ensures that new business contributes positively to the long-term EBITDA development, operational efficiency, and long-term value creation while aligning with Cicor’s compliance and sustainability standards.
Financial performance is actively managed through clearly defined KPIs at group and site level. These include EBITDA, margins, efficiency, cash flow, and working capital, complemented by non-financial indicators related to quality, sustainability, and compliance. Regular performance analysis and reporting facilitate timely decision-making and continuous improvement.
M&A activities complement organic growth, strengthening strategic capabilities, expanding the technological portfolio and enhancing market access. All transactions are subject to comprehensive strategic, financial, and ESG due diligence, ensuring they align with Cicor’s long-term objectives and governance principles.
By integrating RFQ discipline, KPI-driven performance management and selective M&A within a robust, long-term planning framework, Cicor is able to ensure financially stable, efficient, and resilient growth. This holistic approach fosters sustainable EBITDA development, strengthens competitiveness and underpins the successful execution of the Cicor 2028 strategy.
2.5Employer of Choice Supporting Personal Growth
As part of its sustainability strategy, Cicor aims to be recognised as an employer of choice. This involves fostering an inclusive, safe, and performance-oriented working environment that supports personal and professional growth. Employees are recognised as key drivers of long-term success and innovation.
Cicor promotes continuous learning and skills development through targeted training programmes, leadership development, and knowledge sharing across the Group. Clear career paths, regular performance and development dialogues, and opportunities for internal mobility support individual growth while strengthening organisational capabilities.
2.6A Sustainable Company on All Dimensions of ESG
Cicor is committed to being a sustainable company across all dimensions of ESG. Sustainability is embedded in the Company’s strategy, operations, and decision-making processes to ensure a balanced approach to value creation, risk management, and long-term resilience. With regard to the environment, Cicor focuses on reducing and balancing its footprint through improved energy efficiency, responsible resource use, emissions management, and waste reduction across its operations and value chain. The Company’s social responsibility is reflected in its ambition to be an employer of choice, to promote safe and inclusive workplaces, and to uphold responsible labour practices. Strong governance structures ensure ethical conduct, regulatory compliance, transparency, and effective oversight. By integrating ESG considerations holistically, Cicor strengthens its resilience, supports stakeholder trust, and creates sustainable, long-term value in a dynamic, highly regulated business environment.
2.7Financial Value Creation and Mid-term Financial Objectives
Cicor aims to create sustainable financial value through profitable growth, disciplined capital allocation, and operational excellence. Financial performance is managed with a clear focus on margin development, EBITDA growth, cash flow generation, and efficiency across the Group. Mid-term financial objectives are embedded in an integrated planning framework that covers short-, medium- and long-term horizons. This framework supports resilient performance, financial stability, and the ability to invest in strategic initiatives, innovation, and sustainability. Clearly defined financial KPIs and regular performance analysis enable effective steering and timely corrective actions.
