COMET Group full year 2011: Sales at prior-year level, net income above expectations
- Sales of CHF 217 million as in prior year, representing currency-adjusted growth of 12%
- EBITDA margin of 12.6% slightly below prior year
- Significant year-over-year growth expected in net income, to about CHF 10 million
As a result of strong December sales in the X-Ray Systems division, the COMET Group slightly exceeded its most recently communicated expectations for full-year 2011 sales and met its expectations for EBITDA. In a challenging environment, the Group recorded consolidated net sales of CHF 217 million, matching the year-earlier level. In local currencies this amounts to sales growth of 12% year-over-year. For EBITDA-to-net-sales the management and Board of Directors expect a margin of approximately 12.6%, which, as previously predicted, is narrowly lower than in the prior year as a result of the strong franc.
Thanks to a significant improvement in net financial items and lower taxes, net income is expected to increase substantially from the prior year to about CHF 10 million (2010: CHF 7.5 million).
The definitive financial statements and annual report 2011 will be published to coincide with the analyst and media conference on March 15, 2012 in Zurich.