Comet Group announces preliminary key results for 2017:Comet achieves further pronounced growth in sales and earnings

Ad-hoc release in compliance with stock exchange regulations

Flamatt, Switzerland – February 12, 2018

Comet Group announces preliminary key results for 2017:

Comet achieves further pronounced growth in sales and earnings

  • Sales growth of 31.9% to CHF 438.4 million
  • EBITDA margin of 14.5% (2016: 14.3%)
  • Rise in net income to CHF 35.5 million (2016: CHF 27.3 million)
  • Succession process started to choose a new chairman for the Annual General Meeting 2019

The growth strategy of the Comet Group led to another set of record results in 2017. All segments and regions contributed to the powerful sales growth of CHF 106 million, especially the strong semiconductor business in the USA, boosting Group sales to an unprecedented CHF 438.4 million.

 

Operating earnings improved by 39.5% to CHF 50.9 million (2016: CHF 36.5 million). The EBITDA margin of 14.5% was within the forecast range. Net income increased to CHF 35.5 million (2016: CHF 27.3 million). The return on capital employed (ROCE) was 16.2%; the Comet Group thus continued to add value for shareholders.

 

The audited 2017 consolidated financial statements of the Comet Group will be published on March 15, 2018 and presented in detail on the same day at the media and analyst conference in Zurich.

 

Hans Hess, who has been a member of the Board of Directors of Comet Holding AG since 2005 and its chairman since 2007, has informed the Board for its medium-term succession planning that at next year's Annual Shareholder Meeting in April 2019 he will no longer stand for re-election. After twelve years as chairman, he wishes to pass the chairmanship to a younger successor and gradually scale back his professional responsibilities. Until the 2019 Annual Shareholder Meeting, he remains available to the Board and shareholders as chairman. The Board of Directors intends to conduct the search for a successor to Hans Hess on an open basis and has initiated this process.

Media Relations
Ines Najorka
Corporate Communications
T +41 31 744 99 96
ines.najorka@comet.ch

 

Key dates

March 15, 2018Publication of annual report
April 26, 2018Annual Shareholder Meeting
August 16, 2018Publication of half-year report
November 13, 2018Investor Day

 

Comet Group
The Comet Group is a globally leading, innovative Swiss technology company focused on the x-ray, radio frequency and ebeam businesses. With premium high-tech components and systems, we enable customers in numerous 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 non-destructive 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 over 1,400 people worldwide, including more than 500 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 (COTN) is listed on the SIX Swiss Exchange.