Comet Holding AG Reports Mixed Financial Results Amid Semiconductor Industry Recovery

Comet Holding AG has reported an 8.6% decline in net sales to CHF 189.3 million for the first half of 2024 (HY23: CHF 207.0 million). Despite this, the company maintained an EBITDA margin of 6.9% and saw net profit surge to CHF 4.1 million, up from CHF 1.9 million in HY23. Free cash flow rose significantly to CHF 8.1 million from CHF -15.3 million in HY23.

Growth within the semiconductor industry, driven largely by AI applications and high-bandwidth memory, has contributed to an improved order intake for Comet, with a book-to-bill ratio of 1.1 for HY24. However, the automotive, aerospace, and security sectors showed mixed dynamics.

The company remains optimistic about the remainder of 2024, expecting continued recovery in semiconductor demand and maintaining sales guidance between CHF 440 million and CHF 480 million with an EBITDA margin of 15.0% to 17.0%.