Slide 1: Presentation of the Results for the First Half of 2010
Zurich, 19. August 2010 Presentation of the Results for the First Half of 2010 Hans Hess, Chairman of the Board & Managing Director Markus Portmann, CFO Technology with Passion Results for the First Half of 2010 Overview Introduction to the COMET Group Review HY1 2010 Operational Results Fin
Slide 2: One company – two brands
Results for the First Half of 2010 Serving different market segments with core technologies Markets Food & Semicon Automotive Aerospace Electronics Cargo Broadcast packaging & solar Appli- Sterili- Plasma RF cations Non-destructive testing Security zation excitation modulation X-ray Systems System &
Slide 3: Products and markets
Results for the First Half of 2010 Products and markets Systems division Modules & Components division YXLON X-Ray Systems Industrial X-Ray Vacuum Capacitors Vacuum capacitors and X-ray modules RF modules Non-destructive testing in OEM customers in OEM customers in Automotive Non-destructive tes
Slide 4: COMET Group in HY1 2010: Strong and profitable growth
Results for the First Half of 2010 Overview Introduction to the COMET Group Review HY1 2010 Operational Results Financial Results Outlook 2010 Questions & Answers Technology with Passion 19.08.2010 | 7 Results for the First Half of 2010 COMET Group in HY1 2010: Strong and profitable grow
Slide 5: Net sales by business activity and regional split
Results for the First Half of 2010 Net sales by business activity Net sales in Growth CHF million HY1 ’10 HY1 ’09 In % LC* in % X-Ray Systems 43.9 43.4 1.1 5.2 Industrial X-Ray 28.2 25.9 9.2 12.9 Vacuum Capacitors 35.5 9.6 268.3 282.0 Group 97.2 70.2 38.4 43.6 * In local currencies Technology with P
Slide 6: End user market segment split; Systems division in HY1 2010
Results for the First Half of 2010 COMET Group: End user market segment split Distribution of net sales CHF97.2m CHF 97.2m 4% 3% 5% Other* 6% Chips (Semicon) 34% Automotive 7% NDT Components Electronics Security 9% Flat panels Pipe & Vessels Solar 12% 19% * Others include: Aerospace, Broadcast, Thic
Slide 7: Systems division: EBITDA improvement and key strategic initiatives
Results Semiannual for the Results First Half 2010of-2010 Systems division Clear EBITDA improvement (by CHF 4.8m) despite near-steady sales year-over-year Net sales EBITDA 50.0 0.0 43.9 2009 2010 43.4 -1.0 -0.8 40.0 -2.0 CHF million 30.0 CHF m illion -3.0 20.0 -4.0 Special charges -5.0 10.0 -6.0 -5.
Slide 8: Modules & Components delivers top performance
Results Results for for the the First First Half Half of of 2010 2010 – Modules & Components division Modules & Components delivers top performance Vacuum Capacitors Industrial X-Ray Favorable market environment due to Sales increase of 9.2% (12.9% in local booming semiconductor industry in Nort
Slide 9: Key strategic initiatives for HY2
Results Results for for the the First First Half Half of of 2010 2010 – Modules & Components division Key strategic initiatives for HY2 Further increase in market share in RF modules business Development of new designs Further transfer to series production Successful completion of field test
Slide 10: Strong growth returned in HY1 2010; improvement of profitability
Results for the First Half of 2010 COMET Group: Strong growth returned in HY1, 2010 Organic growth in net sales compared to PY (quarterly changes based upon CHF results) 60.0% 51% 40.0% 25% 20.0% 7% 0.0% Q3/08 Q4/08 Q1/09 Q2/09 Q3/09 Q4/09 Q1/10 Q2/10 -20.0% -4% -22% -40.0% -30% -40% -38% -60.0% Qua
Slide 11: Group net sales increased by CHF 27.0m or 38.4%
Results for the First Half of 2010 Group net sales increased by CHF 27.0m or 38.4% (mainly volume related, currency effects negligible) 120 110 + 2.3 + 0.5 - 2.3 + 30.6 - 1.8 97.2 100 90 80 70.2 - 2.3 70 CHF million 60 50 Volume effect in local Negative currency currencies effect 40 CHF 30.6m / 43.6
Slide 12: Impact of net financing items and income taxes on net income
Results for the First Half of 2010 Impact of net financing items on net income for the period Net financing items amounted to an expense of CHF 2.1m (prior year: CHF 0.7m), reflecting the following factors: Interest expenses were CHF 1.8m (PY CHF 1.6m) related mainly to senior debt and mortgage on
Slide 13: Comments on balance sheet (assets part 1)
Results for the First Half of 2010 Sound balance sheet ratios and decrease of total assets amount In millions of CHF June 30, 2010 Dec. 31, 2009 Current assets 102.1 46.2% 100.8 43.9% Non-current assets 119.1 53.8% 128.8 56.1% Total assets 221.2 100.0% 229.6 100.0% Liabilities 112.2 50.7% 117.2 51.1
Slide 14: Comments on balance sheet (assets part 2 and liabilities)
Results for the First Half of 2010 Comments on balance sheet (assets part 2) Non-current assets decreased by CHF 9.7m or 8% Tangible and intangible assets decreased by CHF 9.3m Non-current assets included depreciation of CHF 3.3m and amortization of CHF 2.7m (including CHF 2.1m from purchase price
Slide 15: Cash flow influenced by strongly growing business
Results for the First Half of 2010 Cash flow influenced by strongly growing business Cash in Operations Investments Free Cash Flow Financing TCHF - 610 TCHF - 1‘560 TCHF = - 2‘169 TCHF - 5‘378 TCHF 40 + 11‘029 - 13‘748 a) Cash as per 1.1.2010 35 b) Net income HY1 2010 30 c) Other non-cash income/exp
Slide 16: COMET 2010: sales target of up to CHF 200m
Results for the First Half of 2010 Overview Introduction to the COMET Group Review HY1 2010 Operational Results Financial Results Outlook 2010 Questions & Answers Technology with Passion 19.08.2010 | 31 Results for the First Half of 2010 COMET 2010: sales target of up to CHF 200m (growth
Slide 17: Outlook 2010
Results for the First Half of 2010 Outlook 2010 Positive development in key markets is cause for optimism about the second half of 2010 Assuming a continued positive economic development management and Board of Directors expect a slightly stronger HY2 New target for 2010 2010 sales up to CHF
Slide 18: Disclaimer; Thank you for your attention
Results for the First Half of 2010 Disclaimer This document contains forward-looking statements about COMET that may be subject to uncertainty and risk. Readers should therefore be aware that such statements may deviate from actual future outcomes or events. Forward-looking statements in this docume