Thursday, March 17, 2016

Comet lowers operating profit target – financial and economic

                                                  Initial Coverage of Peter Morf 8:45

                                                     As the high-tech company announced in February, do not achieve the 2015 figures realized the previous year’s figures. This is due to unfavorable currency effects and the weak economy in key Asian markets. In addition, the profit was impacted by special items of more than 10 million Swiss francs. Excluding these effects Comet has worked effectively. In the current year the very innovative group wants to promote accelerated their strategic initiatives to develop new technologies. In addition, significant investments for the expansion at its headquarters in Flamatt. These effects press in 2016, wanted, on the operating margin. The prospects of the group is a leader in various technologies with great market potential must be assessed as very good. Comet himself is confident, what is reflected in the distribution of a constant dividend. The shares remain attractive for shareholders. At 10 am there will be a media conference.

                                                     Read about 15 pm, the detailed analysis.

The industrial enterprises has made 2015 fewer sales and lower profits. The dividend remains unchanged.
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(AWP) The Comet Group in fiscal 2015 as preannounced in February suffered a decline in sales and profits. Nevertheless, a withholding tax-exempt dividend of 11 CHF will be distributed at the same level as the manufacturer of X-ray modules and vacuum capacitors announced on Thursday. The guidance for the current year was confirmed in revenues and adjusted EBITDA down.

Already in the middle of February, Comet ( COTN 631.5 – 4.97% ) surprisingly published benchmarks for 2015 and confirms these figures on Thursday. Accordingly, the Group recorded a 2015 sales decline of almost 2% to 282.3 million frs.

The operating profit fell by more than 10% to 35.7 million CHF and the EBITDA margin by 110 basis points to 12.7%. Adjusted for currency and acquisition effects, the margin was 13.6%. Net income was all about a third to 17.1 million Fri. back, which is explained by currency translation losses, acquisition costs as well as positive special effects in the previous year and.

For the current year, the company’s in November phrased aim at level sales confirmed, but adjusted EBITDA down. with a growth of around 10% 2016 revenues 300-320 million CHF result. The EBITDA margin is expected in the new range of 11 to 13%, the current target for 2016 was 14% to 16%. The Comet group founded the reduction of planned spending as well as a planned acceleration of the strategic initiatives.

are confirmed with today’s announcement, however, the medium-term objectives by 2020, according to which with a turnover of around CHF 500 million with an EBITDA to be achieved margin of 16 to 18%.

Read the entire history of the company. “


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