Comet achieves full-year 2023 profitability above recent guidance, recovery in semiconductor cycle expected in 2024

Ad hoc announcement pursuant to Art. 53 LR

Key figures for FY23 (preliminary and unaudited)

• Net sales at CHF 397.5 million (FY22: CHF 586.4 million)
• EBITDA margin at 11.3%, after 20.3% in the previous year

Comet announces its preliminary and unaudited results for the 2023 financial year, with an EBITDA margin of 11.3% (previous guidance 7% to 9%) and net sales of CHF 397.5 million (previous guidance of CHF 380 million to CHF 400 million). Q4/23 resulted in strong net sales, mainly driven in the PCT division. Profitability came in above guidance primarily due to higher output, a favorable product mix and further cost adjustments.

The stabilization in the semiconductor industry continued in Q4/23. However, given the numerous economic and geopolitical uncertainties, it would be premature to expect a return to significantly higher growth in the short term, even though the signals from the semiconductor market point to the return of the semiconductor upcycle in the current financial year. Together with the consistent implementation of our growth strategy (new products and higher share of wallet with key accounts), we expect a positive development regarding sales and profitability in 2024.

The audited results for the 2023 financial year and an in-depth management outlook for the 2024 financial year will be announced on March 4.

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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 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.