COMET Group announces provisional unaudited results for 2015

Media Release

Flamatt, Switzerland – February 15, 2016

COMET Group announces provisional unaudited results for 2015

  • 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).

Media Relations

Ines Najorka

Corporate Communications

T +41 31 744 99 96

ines.najorka@comet.ch

 

Company calendar

March 17, 2016

Publication of annual report 2015

April 21, 2016

Annual Shareholder Meeting

August 18, 2016

Publication of half-year report

November 23, 2016Investor Day

 

COMET Group
The COMET Group is a globally leading, innovative Swiss technology company with a focus on x-ray, radio frequency and ebeam. With premium high-tech components and systems, we enable customers in various industries to both enhance the quality of their products and make their manufacturing more efficient and eco-friendly. Our innovative solutions under the COMET, YXLON and ebeam brands are in demand for applications such as materials testing and security inspection, the coating and treatment of surfaces, and non-contact sterilization.
Based in Flamatt, Switzerland, the COMET Group has a presence in all world markets. We employ more than 1,050 people worldwide, including over 370 in Switzerland. Besides production facilities in China, Denmark, Germany, Switzerland and the USA, we maintain various subsidiaries in the USA, China, Japan and Korea. COMET’s stock (COTN) is listed on the SIX Swiss Exchange.