Comet Group achieves vibrant growth in the first half-year
Ad hoc announcement pursuant to Art. 53 LR
Key figures first half-year 2021
Comet Group today announces the preliminary, unaudited financial performance for the first half-year of 2021. The company achieved a positive book-to-bill ratio, indicating a growing business. Sales increased sharply by 36.2% to CHF 248.3 million when compared to the first half of 2020 of CHF 182.3 million. The sales growth was driven by the continued surge in the semiconductor industry along with a steady recovery from the COVID-19 pandemic and industrial cycles in the aerospace and automotive industries.
The company's EBITDA performance was significantly higher than in the same period of 2020. The Group achieved an EBITDA of CHF 44.3 million compared to CHF 18.8 million in the year-ago period, an increase of 136.0%. The corresponding EBITDA margin expanded to 17.8% from 10.3% one year earlier. The margin expansion was underpinned by higher sales volumes, an improved product mix, and the realization of the cost realignment programs initiated in 2020.
The company expects continued strength in the overall business environment throughout 2021 and beyond. Comet Group expects the strong performance demonstrated in H1/2021 to continue through the second half of the year even when taking into consideration the potential for capacity constraints in the supply chain as well as lingering effects of the COVID-19 pandemic. As a result, Comet Group updates its guidance for full year sales to CHF 480-500 million and EBITDA margin between 18% and 20%.
The company will release full financials for the first half of 2021 and provide an outlook for the remainder of FY2021 on August 12, 2021.