Cicor Revises Goodwill Accounting Policy

Bronschhofen, June 17, 2024 – Cicor Technologies Ltd. (SIX Swiss Exchange: CICN) has announced a change in its accounting policy for the treatment of goodwill in its consolidated financial statements.

The company will now offset goodwill directly against shareholders' equity at the time of acquisition, in line with Swiss GAAP FER 30 standards. This decision aims to enhance comparability with other publicly listed companies. The new policy, effective January 1, 2024, will disclose the impact of theoretical capitalization and amortization in financial notes.

Previously, Cicor capitalized and amortized goodwill over five years. As part of this change, past periods will be restated. The company will also cease reporting “Core EBIT," “Core net profit," and “Core earnings per share.” This revision simplifies communication with stakeholders and will be reflected in the half-year report for 2024, set to be published on July 24, 2024.