This article analyzes how the organizational context of Circular Economy implementation is related to perceived business performance effects. Using a comparative analytical approach, the study distinguishes between companies that integrate Circular Economy practices into their core business activities and those that implement such practices in non-core areas. The results show that companies with core integration report positive effects more frequently across most business performance factors when compared to companies with non-core implementation. These differences are particularly evident for market-related, capability-oriented, and risk-related dimensions. A notable exception concerns cost-related performance dimensions. In comparison to other business performance factors, cost-related effects show a less pronounced dominance of positive effects and instead display a more balanced distribution of positive, neutral, and negative effects.