EQS-Adhoc: Comet delivers improved FY 2020 results ahead of recent guidance, anticipates continuing strength in FY 2021
Key figures full-year 2020 (preliminary and unaudited)Net sales increased by 6.5% year over year to CHF 395.8 millionEBITDA margin increased to 14.8%, from 10.8% in the prior yearNet income doubled to CHF 27.7 million after CHF 12.0 million in the previous year?
Comet announces today the preliminary and unaudited results for full-year 2020. The company achieved net sales and an EBITDA margin that exceeded the company's guidance. As expected, the good results were driven by continued strength in the semiconductor-related Plasma Control Technologies division (PCT) and stabilization in the primary markets served by the x-ray technology-related divisions X-Ray Modules (IXM) and X-Ray Systems (IXS) during the second half-year.
Net sales of CHF 395.8 million were 6.5% higher than the figure of CHF 371.6 million achieved in full-year 2019. At the EBITDA level, Comet increased the margin by 4 percentage points from 10.8% to 14.8% as a result of top-line growth and focused cost discipline. The improved operating performance translated into a significantly higher net income of CHF 27.7 million, 131% above previous-year's level of CHF 12.0 million.
The company achieved a higher order backlog at year-end 2020 compared to the prior year. Further strength in the semiconductor cycle and the stringent execution of the focused growth strategy suggest that 2021 will be another year of significant improvement in Comet's results.
The final results for the full-year 2020 and an in-depth insight into management's expectations for 2021 will be provided on March 18, 2021, during the planned webcast/phone conference for media, financial analysts and investors.End of ad hoc announcement Language: English Company: Comet Holding AG Herrengasse 10 3175 Flamatt
Switzerland Phone: +41 31 744 90 00 E-mail: email@example.com Internet: www.comet.tech ISIN: CH0360826991 Valor: 36082699 Listed: SIX Swiss Exchange EQS News ID: 1163532 ? End of Announcement EQS Group News Service