SALES GROWTH IN THE FIRST HALF OF 2018

In the first six months of 2018, the Comet Group achieved sales growth of 4.4% to CHF 232.4 million compared to the record year-earlier level (H1 2017: CHF 222.6 million).

The most significant contribution came from the business with high-end radio frequency (RF) power solutions for the semiconductor market and with x-ray modules for non-destructive testing. 

  • 4.4% growth in sales from the strong year-earlier period to CHF 232.4 million (H1 2017: CHF 222.6
  • million)
  • EBITDA margin of 12.7% was below the year-earlier level (H1 2017: 15.2%)
  • Net income of CHF 14.4 million was down from a year ago due to one-time effects (H1 2017: CHF 18.7 million)
  • Profit improvement program being implemented in X-Ray Systems division (IXS)
  • Closure of the Davenport site in Iowa, USA – refocusing on the promising ebeam components and modules business in Flamatt, Switzerland
  • Prior-year data restated to reflect the new IFRS 15 accounting standard
  • Reiterating the expectations for 2018 of CHF 440-460 million in sales and a 10-12% EBITDA margin

The Comet Group boasts three innovative technologies with attractive growth potential. The Board and management are confident that, with the initiated profit improvement program and the closure of the ebeam systems business in Davenport, key conditions have been created for achieving future profitable growth in the X-ray systems and ebeam businesses as well. The Group reiterates the recently revised guidance for 2018 of CHF 440-460 million in sales and an EBITDA margin of 10-12%.