Comet Holding Ltd.

Latest Results (24.05.2026):

Comet Holding Ltd. — results for the fourth quarter and full year 2024 (year ended Dec. 31, 2024): the Group delivered stronger full-year revenue, margin expansion and substantially higher profit versus 2023. Net sales rose to CHF 445.4m, operating income and EBITDA improved materially, net income and EPS more than doubled, cash generation strengthened and the balance sheet remained solid with equity at CHF 325.4m.

Revenue and margins

Net sales: CHF 445.4m in 2024 (2023: CHF 397.5m), up ~12.1%. Gross profit: CHF 193.1m with a gross margin of 43.4% (2023: 41.0%), reflecting margin improvement versus prior year.

Profitability and EPS

Operating income rose to CHF 38.2m (8.6% margin) from CHF 25.0m (6.3%); EBITDA increased to CHF 60.4m (2023: CHF 45.0m). Net income was CHF 35.1m (2023: CHF 15.4m), and basic/diluted EPS was CHF 4.52 (2023: CHF 1.98), i.e., more than doubled year-on-year.

Segment performance

PCT (Plasma Control Technologies) led growth: sales CHF 247.4m (2023: CHF 193.2m) and strong EBITDA contribution (segment EBITDA CHF 52.7m; margin ~21.3%). X‑Ray Systems (IXS) sales roughly stable at CHF 115.8m but reported an operating loss (CHF -8.9m). Industrial X‑Ray Modules (IXM) sales CHF 82.1m with positive contribution.

Cash flow and liquidity

Operating cash flow improved to CHF 50.0m (2023: CHF 22.3m). Cash and cash equivalents rose to CHF 113.7m (Dec 31, 2023: CHF 86.7m). CapEx was lower than prior year (PPE purchases CHF 10.3m vs CHF 24.5m).

Order backlog and working capital

Unsatisfied performance obligations (order backlog) were CHF 141m (2023: CHF 131m), mostly expected to be recognized within 12 months. Trade receivables increased to CHF 87.5m (2023: CHF 64.8m); inventories modestly higher at CHF 106.8m.

Balance sheet and equity

Total assets CHF 531.2m; total liabilities CHF 205.7m. Equity attributable to shareholders CHF 325.4m (2023: CHF 296.1m), giving an equity ratio of ~61.3% (2023: 62.5%). Net non-current debt essentially stable (~CHF 59.9m).

Notable items and risks

2024 included a net FX gain (CHF 3.2m) versus a FX loss in 2023; derivative fair-value movements were negative (CHF -1.4m). Employee benefit liabilities increased materially (CHF 12.5m vs CHF 6.8m), and actuarial losses affected other comprehensive income. Management notes industry cyclical patterns (semiconductor recovery uneven) as ongoing uncertainty.

Dividends and shareholder distributions

Dividend payments in 2024 were CHF 7.8m (2023: CHF 28.8m), and the company repurchased treasury shares (CHF 1.3m purchase in 2024).