COMET Group announces provisional unaudited results for 2015: Robust results despite a challenging environment.
- Sales of CHF 282.3 million (2014: CHF 287.9 million)
- EBITDA margin of 12.7% (2014: 13.8%)
- Net income of CHF 17.1 million (2014: CHF 26.3 million)
- Successful generation of value with ROCE of almost 12%
The COMET Group acquitted itself well in the challenging environment of fiscal 2015, achieving the second strongest results in its history after the record year 2014. Consolidated net sales were CHF 282.3 million (2014: CHF 287.9 million) and EBITDA operating earnings came in at CHF 35.7 million (2014: CHF 39.8 million). Net income, in line with expectations, was CHF 17.1 million (2014: CHF 26.3 million) as a result of one-time effects. With a return on capital employed of almost 12% (ROCE) the Group was able to continue generating a return above the cost of capital.
Currency movements and the acquisition of PCT Engineered Systems LLC strongly affected results: The elimination of the EUR/CHF minimum exchange rate made a negative difference of 4.0% in the Group's sales trend and was only partly offset by the positive movement in USD/CHF (+2.7%). The acquisition of PCT Engineered Systems added 4.4% to sales. The Group EBITDA margin was 12.7% (2014: 13.8%). Excluding currency effects (+1.0%) and the acquisition (-1.9%), this margin came to 13.6%, or almost the prior-year level. Net income decreased to CHF 17.1 million in 2015: The non-recurrence of positive prior-year tax effects of CHF 6.1 million, in combination with 2015’s one-time currency translation losses of CHF 2.4 million and one-off acquisition-related costs of CHF 3.5 million, outweighed a non-recurring tax credit of CHF 1.5 million in 2015.
The audited annual report 2015 with the detailed consolidated results of the COMET Group will be published to coincide with the analyst and media conference on March 17, 2016 in Zurich (location: SIX Swiss Exchange, Convention Point, Selnaustrasse 30).
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|March 17, 2016
||Publication of annual report 2015
|April 21, 2016
||Annual Shareholder Meeting
|August 18, 2016
||Publication of half-year report 2016
|November 23, 2016