COMET GROUP HAS RECORD YEAR – FURTHER STRONG GROWTH EXPECTED

The COMET Group's growth strategy 2020 is leading to success. The investment of the past years in expanding customer relationships, the intensified market development and the tapping of new applications proved effective.

In 2016 the COMET Group accelerated its growth from the pace of recent years to deliver its best-ever performance, growing significantly in its core regions and its established segments. Consolidated net sales expanded to CHF 332.4 million, surpassing the prior year by 18%.
 
  • Substantial sales growth of 18% to CHF 332.4 million
  • Increase in EBITDA margin to 14.3% (2015: 12.7%)
  • Net income of CHF 27.3 million (2015: CHF 17.1 million)
  • Higher dividend of CHF 12.00 per share
  • Ten-for-one stock split proposal
  • Outlook for 2017: sales of CHF 370-390 million with EBITDA margin of 13-15% and continuing rise in economic profit

Thanks both to consistent execution of the operational efficiency initiatives and to higher volume, Group earnings grew substantially. Operating income, despite expenses for high strategic investment in future growth, jumped by 43% to CHF 36.5 million. Group net income rose markedly to CHF 27.3 million (2015: CHF 17.1 million). The primary reasons for this record profit, besides the higher sales, were revised pricing and a significant improvement in operating efficiency.

On the currency front, the strong US dollar was a positive driver for net income. Economic profit – or profit after the 9% cost of capital – also increased sharply, more than doubling to CHF 11.0 million (2015: CHF 4.8 million). With an equity ratio of 51%, the balance sheet of the COMET Group remains very robust.

Read more about the record year on the COMET Group website.