COMET Group full year 2011: Sales at prior-year level, net income above expectations

Media Release

Flamatt, February 8, 2012

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.

Media Relations

Ines Najorka & Flavia Nicolai

Corporate Communications

T +41 31 744 99 96 / 97

media.relations@comet.ch

 

Financial calendar for the COMET Group

March 15, 2012

Publication of 2011 annual financial statements

April 18, 2012

Annual Shareholder Meeting

August 23, 2012

Publication of 2012 half-year results