COMET DELIVERS FURTHER STRONG RESULTS

The Comet Group accelerated its growth in 2017. It expanded the business with key accounts, developed relationships with prospective customers, mastered the challenge of meeting the high demand, and also moved ahead in important projects to prepare for future growth.

Consolidated net sales rose to CHF 438.4 million, surpassing the prior year by CHF 106 million. All regions and business segments contributed to the sales growth. The high sales volume drove a significant increase in the Group's EBITDA operating earnings to CHF 63.4 million (2016: CHF 47.7 million). Net income climbed by 29.7% to CHF 35.5 million (2016: CHF 27.3 million). This was despite one-off effects that detracted from net income, such as an adjustment to the pension plans in Switzerland, the new US tax legislation, and a provision in the USA. Return on capital employed (ROCE) increased from 14.7% to 16.2%. With an equity ratio of 52.7%, the Group is very soundly financed. Despite the demands of generating the pronounced sales growth, the ratio of net working capital to sales improved, easing to 23% (2016: 24%), an indicator of the Group's improved operating efficiency.
 
  • Powerful sales growth of 32% 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)
  • Higher dividend of CHF 1.50 per share
  • Outlook for 2018: Expecting sales of CHF 460-490 million and ROCE of 17-20%

The Board and management are confident that in the years ahead the Comet Group will steadily continue to generate value-added and that it will already reach its 2020 growth target of sales of CHF 500 million and an EBITDA margin of 16-18% in 2019. For 2018 they expect sales of CHF 460 million to CHF 490 million and a return on capital employed (ROCE) of between 17% and 20%. The EBITDA margin for 2018 is projected at between 14% and 16%.