Focus strategy confirmed under new management, further progress made
At today's Capital Markets Day, Comet will report on the progress made in implementing its focus strategy and will provide an outlook on developments in its markets. In 2019, Comet communicated a strategic repositioning of the company. Since then, Comet has made significant progress, including in the current fiscal year. The company is well positioned to benefit from the underlying long-term demand for semiconductors and electronics components. Opportunities also exist in the automotive industry with an accelerated transition to electromobility and in aerospace due to the gradual return to pre-pandemic flight volumes. Therefore, Comet’s mid-term outlook remains unchanged.
Regional expansion and new products fuel growth opportunities
Comet has systematically expanded its geographical presence with a specific focus on Asia and also the U.S. The move has served several strategic priorities including closer proximity to customers, access to regional supply chains as well as talent. As announced in September 2022, Comet will double the production capacity of its facility in Penang, Malaysia, ahead of plan, demonstrating its operational flexibility. In Japan, Taiwan, South Korea as well as the U.S. Comet has ramped a variety of customer centric activities serving strategic customers in the region.
Comet has also reached important milestones in the strategic expansion of its product portfolio. With the official launch of the new Synertia® family of high-frequency generators in summer 2022, the Plasma Control Technologies (PCT) division will penetrate the RF generator market that is forecasted to reach an estimated USD 1.7 billion in 2025. Adding Synertia® to the product portfolio, Comet can now offer complete RF power subsystems to the customer. The unique controls of the new RF generator interact at the highest possible speeds with the Synertia® matchbox. This patented innovation allows for real-time control of plasma processes enabling applications of greater complexity than ever before. Customer interest in Comet’s RF power solutions continues to exceed expectations. The company expects sales from Synertia® to contribute from 2023 onwards, with significant revenue to the PCT division in 2024.
Comet’s X-Ray Systems (IXS) and X-Ray Modules (IXM) divisions continue to capitalize on attractive opportunities in the fields of non-destructive testing of microchips, advanced packaging, as well as batteries. This trend is driven, among other things, by the accelerating shift away from internal combustion engines to electromobility.
Both x-ray divisions are on track to expand their product portfolio with a commitment to provide yield enhancing applications and systems at customer sites. To this end, IXS continues to invest in differentiating data science solutions based on artificial intelligence and machine learning, offering a competitive advantage to its customers. The focus strategy and realignment of the IXS business
has already resulted in intimate customer relationships and inroads in advanced packaging inspection. Furthermore, IXM’s award-winning MesoFocus tube launched in 2021 has contributed significantly to the growth of the division. Both divisions are well on track to meet mid-term growth objectives.
The macroeconomic and geopolitical environments have increased in complexity since Comet announced Q3 2022 results in October. Most recent indicators show a softening of the demand for semiconductor wafer fabrication equipment from Q4 2022 into the 2023 fiscal year, followed by a rapid return to solid growth. Comet is well prepared to absorb a phase of lower growth thanks to its financial strength and focus on structurally growing markets.
In addition, Comet is affected by U.S. export restrictions that limit the supply of semiconductor equipment to certain Chinese customers. The company monitors and reviews the legal aspects of these restrictions carefully.
As a result, the company is adjusting its expectations for FY 2022 to the lower end of the guided ranges of CHF 580 million to CHF 610 million in net sales and 21% to 23% in EBITDA margin.
Capital Markets Day
Comet will hold a Capital Markets Day in the form of an in-person event on November 16, 2022, from 9:30 am to 12:15 pm CET at the Hotel Widder in Zurich, Switzerland. The event will be held in English only and can be accessed as a live video webcast via the following link.
Link to the live video webcast
Dial-in (phone): Switzerland: +41 44 529 92 72 or +41 22 591 00 05 or +41 22 591 01 56 or
+41 31 528 09 88 or +41 43 210 70 42 or +41 43 210 71 08
International telephone numbers: Link to international numbers
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|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|
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|March 2, 2023||Full-year results 2022|
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 500 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.