Comet reports strong fourth quarter thanks to ongoing turnaround in the semiconductor cycle

Ad hoc announcement pursuant to Art. 53 LR

Key figures for FY24 (preliminary and unaudited)

• Net sales at around CHF 445 million (FY23: CHF 397.5 million)
• EBITDA margin at roughly 13.8%, after 11.3% in the previous year
• Book-to-bill of 1.0 at year-end 2024

Comet today announced preliminary and unaudited results for the 2024 financial year, with net sales of approximately CHF 445 million, an increase of around 12.1% compared to the previous year (FY23: CHF 397.5 million). The EBITDA margin rose to roughly 13.8% (FY23: 11.3%). In Q4/24, the company generated around CHF 143 million in revenue, which marked a significant improvement compared to both the previous year (Q4/23: CHF 112.7 million, +27%) and the previous quarter (Q3/24: CHF 113.2 million, +26%).

Revenue growth was entirely driven by the recovery in the semiconductor market. However, the pace of recovery has varied across segments within the semiconductor industry. While AI and high-performance computing (HPC) applications have experienced rapid growth, consumer-driven markets like smartphones, PCs, and traditional industrial sectors, including automotive, remain subdued. This uneven recovery highlights the varying speeds of progress within the industry.

In terms of profitability, Comet reported an EBITDA margin slightly below its latest expectations due to higher investments and a slightly unfavorable product mix. For FY25, Comet anticipates the semiconductor recovery to persist, leading to an improved performance compared to FY24.

The audited results for the 2024 financial year and an in-depth management outlook for the 2025 financial year will be announced on March 6, 2025.

-end-

Comet Group
The Comet Group is a globally leading, innovative technology company based in Switzerland with a focus on plasma control and x-ray technology. With premium high-tech components and systems, we enable our customers to both enhance the quality of their products and make their manufacturing more efficient and eco-friendly. Our innovative solutions are in demand in the semiconductor and electronics market, the aerospace and automobile industry and in security inspection. Headquartered in Flamatt, Switzerland, the Comet Group has a presence in all world markets. We employ more than 1,500 people worldwide, including about 600 in Switzerland. Besides production facilities in China, Denmark, Germany, Malaysia, Switzerland and the USA, we maintain various other subsidiaries in Canada, China, Japan, Korea, Taiwan and the USA. Comet (COTN) is listed on the SIX Swiss Exchange.