Capital Markets Day 2023

• Synertia® platform with first design wins
• Medium-term goals adjusted
   

In the sweet spot of digitalization and electrification
Digitalization and electrification are driving progress in industry and society. This is made possible by increasingly powerful microchips, for the production of which Comet's technologies are crucial. At the front-end, the heart of the manufacturing process, Comet's radio-frequency systems enable high-precision control of plasma processes. In semiconductor assembly and testing (back-end), x-ray modules and systems ensure the highest quality and process stability. This provides Comet with a leading position in these markets and numerous catalysts that boost growth.

First design wins for Synertia®, significant progress at all strategic levels 
Comet has made progress at all strategic levels. Sales to customers from the fast-growing semiconductor and electronics industries have reached a share of over 70% and are expected to increase to more than 80% in the coming years. The driving forces behind this are the growing market penetration of the Synertia® platform in the front-end and new innovative solutions in the back-end processes, i.e., the non-destructive testing of semiconductor and electronic components using x-ray technology.

With the market launch of the first radio-frequency generators from the Synertia® power delivery platform, the Plasma Control Technologies (PCT) division has achieved another important milestone. Comet now offers its customers a complete RF power subsystem from its own production, offering the advantage of plasma control with perfectly matched components. Over the last twelve months, the market introduction of Synertia® has progressed. PCT has achieved four design wins with customers of various sizes (Tier 1-3).

Like PCT, the two x-ray divisions X-Ray Systems (IXS) and X-Ray Modules (IXM) have made significant progress in their realignment towards growth and future markets. For example, IXS has intensified its collaboration with a leading company as a co-creation partner in the field of advanced packaging and driven forward the development of inspection solutions for multi-chip modules. IXM has successfully placed its technologically leading x-ray tubes and modules in the target markets of semiconductors, electronics, and batteries.

Expansion plans in Penang, focus on more robust positioning over the cycle
Comet looks to the future with confidence. In view of the dynamic growth in demand for semiconductor equipment in the medium term, a further expansion in Penang, Malaysia, is being considered. Planning for a dedicated building at the site has started. With this step, Comet will reinforce its presence in Asia with the establishment of Penang as a dedicated Asian hub. 

Beyond strategically balancing Comet’s manufacturing and applications footprint to get closer to the end customers, the company continues to improve its cost structure and operational excellence to make it more profitable and robust. To this end, Comet has launched initiatives to grow in different semiconductor market segments and geographies and therefore broaden the customer and technology basis.

Medium-term targets adjusted
Comet confirms the focus strategy developed in 2019. The medium-term targets issued at that time will be adjusted slightly upwards and postponed.

As a result of the persistent implementation of its focused growth strategy, Comet expects to achieve net sales of between CHF 800 million and 900 million, an EBITDA margin of 25% to 30% and a return on capital employed (ROCE) of 30% to 35% at the peak of the next semiconductor cycle. From today's perspective, this will be the case around 2027.

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Capital Markets Day
Comet will hold a Capital Markets Day in the form of an in-person event on November 9, 2023, 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
 

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.