Comet Holding AG - Earnings Release 2022

News Details

Corporate | 21 April 2022 06:30

Sales on track, order book remains strong

Comet Holding AG / Key word(s): Miscellaneous

Sales on track, order book remains strong

21.04.2022 / 06:30

Trading update first quarter 2022

Net sales of CHF 124.8 million
Incoming orders generate a book-to-bill ratio of 1.4

In the first quarter of 2022, Comet continued the strong performance of fiscal year 2021 while successfully managing persistent supply chain challenges. Incoming orders were robust, signaling continued strength in Comet’s primary end markets. Each of the three divisions Plasma Control Technologies (PCT), X-Ray Systems (IXS) and X-Ray Modules (IXM) achieved robust order intake in Q1 2022. As a result, the company’s book to bill ratio was 1.4. The current backlog remains at record levels.

In the first quarter, the company continued to proactively address tight global supply chain pressures which intensified on the back of new COVID-related restrictions in China. Comet maintained operational flexibility during the quarter to manage increased material lead times and to protect its ability to generate sales.

Outlook

Comet remains committed to meeting the demands of its customers and will maintain steadfast focus to address supply chain challenges and ongoing geopolitical uncertainties. We anticipate the China Zero-COVID policy will cause a temporary halt to Comet’s Shanghai production, which will potentially shift some sales from the first half of 2022 to H2 2022, with no adverse impact to the company’s full year performance. To date, the war in Ukraine has not had an impact to the Group’s business due to Comet’s negligible direct exposure to the region from a sales or supply chain perspective.

Based on current market conditions, Comet maintains its full year guidance for 2022 of net sales in the range of CHF 570 million to 610 million and an EBITDA margin between 21% and 23%. This assumes no deterioration to the current economic and geopolitical situation.

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Contacts
Media	Investors / Analysts
Ines Najorka	Ulrich Steiner
VP Group Communications	VP Investor Relations & Communication
T +41 79 573 45 94	T +41 31 744 99 95
[email protected]	[email protected]

Company Calendar
July 28, 2022	Half-year results 2022
October 2022	Trading update Q3 2022
November 16, 2022	Capital Markets Day
March 2, 2023	Full-year results 2022

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, includ-ing about 500 in Switzerland. Besides production facilities in China, Denmark, Germany, Malaysia, Switzer-land 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.

End of Media Release


Language:	English
Company:	Comet Holding AG
	Herrengasse 10
	3175 Flamatt
	Switzerland
Phone:	+41 31 744 90 00
E-mail:	[email protected]
Internet:	www.comet.tech
ISIN:	CH0360826991
Valor:	36082699
Listed:	SIX Swiss Exchange
EQS News ID:	1331479