Comet Holding Ag · SIX:COTN
Comet — Investor Day (November 2025)
100 slides from Comet's investor day presentation, Nov 13, 2025
Slide 1: Welcome to Comet's Capital Markets Day
Welcome to Comet’s Capital Markets Day November 13, 2025 Ulrich Steiner / VP Communications, IR & Sustainability Capital Markets Day 2025 11/13/2025 1
Slide 2: Agenda
Agenda Time Topic Speaker 09:00 – 09:05 Welcome Ulrich Steiner / VP Communications, IR & Sustainability 09:05 – 09:45 Positioned at the Heart of Semiconductor Growth Stephan Haferl, CEO 09:45 – 10:25 Technology Leadership in the Next Semiconductor Era André Grede, CTO 10:25 – 10:50 Coffee Break 10:5
Slide 3: Cautionary Statement Regarding Forward Looking Statements
Cautionary Statement Regarding Forward Looking Statements This document contains forward-looking statements about the Comet Group 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 st
Slide 4: Today's Comet Speakers
Today’s Comet Speakers. Stephan Haferl Christian Witt André Grede Isabella Drolz Joeri Durinckx Chief Executive Officer Chief Financial Officer Chief Technology Officer Global Head Division IXS | Division President PCT Vice President Commercial Capital Markets Day 2025 11/13/2025 4
Slide 5: Positioned at the Heart of Semiconductor Growth
Positioned at the Heart of Semiconductor Growth Stephan Haferl, CEO Capital Markets Day 2025 11/13/2025 5
Slide 6: 75+ Years Adapting to the World's Major Changes
75+ Years Adapting to the World’s Major Changes. 1940s–1950s 1960s 1970s 1980-1990s 2000-2010s 2020s Postwar Electrification & Birth of Rise of High-Frequency Power Automation & the Efficiency Revolution Globalization & the High-Tech Integration, Digitalization & AI, Automation & Advanced Electronic
Slide 7: A Global Player with Roots in Switzerland
A Global Player with Roots in Switzerland … Full-year 2024 Headquarters 1800+ 12 in Flamatt, employees Locations Switzerland Taastrup (DK) Montréal Aachen (CA) Hamburg Suwon (GER) 62% Asia (GER) (KR) Shanghai Yokohama 20% North America San Jose Shelton Flamatt (USA) (CH) (CHN) (JP) 16% Europe (USA)
Slide 8: Committed to Enabling the Semiconductor Industry
… Committed to Enabling the #1 Semiconductor Industry … PCT in Vaccaps & Matches 56% Group Sales FY24 High-end RF Power delivery systems for plasma applications Top 3 in served markets IXS IXM #1 in industrial x-ray sources 26% 18% Group Sales Group Sales FY24 FY24 High-end x-ray systems for industr
Slide 9: Creating Long-term Value
… and Creating Long-term Value. 700 130 Net Sales and EBITDA 600 (in million CHF) 110 500 90 445.4 400 70 60.4 300 50 200 30 16.2 100 10 52.1 0 -10 2000 2002 2004 2006 2008 2010 2012 2014 2016 2018 2020 2022 2024 Capital Markets Day 2025 11/13/2025 9
Slide 10: Semiconductors are at the Core of our Strategy and Growth Opportunity
Semiconductors are at the Core of our Strategy and our Growth Opportunity. Capital Markets Day 2025 11/13/2025 10
Slide 11: Partnering with the World's Leading Semi Innovators
Partnering with the World’s Leading Semi Innovators. Electronic Design Design (IP) Automation Equipment Raw Materials Fabless Design Foundries Assembly, Testing, and Packaging Integrated Device Manufacturers Capital Markets Day 2025 11/13/2025 11 Comet supplies to…
Slide 12: Driving Precision and Reliability across Semiconductor Production
Driving Precision and Reliability across Semiconductor Production. Wafer Fabrication (Front-end Processes) Photoresist Coating Chemical Assembly & Test (Back-end Processes) Manual Design & Raw Material Lithography Polishing Deposition Development Wafer Dicing Bonding & Quality Chip Wafer Packaging I
Slide 13: Market Perspectives and Drivers
Market Perspectives and Drivers Capital Markets Day 2025 11/13/2025 13
Slide 14: An Industry in Constant Motion
An Industry in Constant Motion … Growing complexity & Continued miniaturization From devices to huge leaps in innovation & 3D-fication integrated solutions (design, architecture and processes) Capital Markets Day 2025 11/13/2025 14
Slide 15: Major Trends Driving the Semiconductor Industry
Major Trends Driving the Semiconductor Industry. 5 trn USD in 2050 AI Autonomous Driving Quantum Cloud AR/VR 6G / 7G IoT Industry 5.0 Industry 4.0 1st Wave 2nd Wave 3rd Wave Sources: SEMI 2024 / Tokyo Electron Capital Markets Day 2025 11/13/2025 15
Slide 16: More than 70 new Fab Constructions from 2024 to 2026
More than 70 new Fab Constructions from 2024 to 2026. Europe / Mideast 8 Asia Americas 50 13 71 2025-2026: Construction start of 38 new fab projects Source: SEMI, World Fab Forecast Q3 2025 Capital Markets Day 2025 11/13/2025 16
Slide 17: Mainstream Chips Lead in Volume, High-end Chips Lead in Value
Mainstream Chips Lead in Volume, High-end Chips Lead in Value. Most chips by volume will Most value will come from Others go to consumer markets 5% chips for AI and HPC IoT 10% applications Automotive AI / HPC 15% 45% 2030 semiconductor market by platform > USD 1 trillion Smartphone AI / High-Perfor
Slide 18: The Newest AI Applications Drive Front-end Innovation
The Newest AI Applications are the Most Significant Driver of Front-end Innovation. AI Capital Markets Day 2025 11/13/2025 18
Slide 19: Innovate for more Efficiency: More Compute per mm2 & Watt
Innovate for more Efficiency: More Compute per mm2 & Watt. Physical transistor scaling (shrinkage) Efficiency More equipment Performance per fab Watt mm2 Two enabling technologies Generating Non-destructive testing becoming essential Heterogeneous Integration Higher Superior Lower power Larger (stac
Slide 20: Technology Develops ever Faster
Technology Develops ever Faster. 14 Mainstream Evolution of semiconductor process node in nanometers A14 Performance vs. N2 +10% to +15% speed at same power 12 –25% to –30% power at same speed ~1.23× logic density / ~1.2× chip density 10 8 Faster development requires • Customer proximity and collabo
Slide 21: Growth Opportunities at Technological Inflection Points in Front-end Process
Growth Opportunities at Technological Inflection Points in Front-end Process WFE revenue by application (in million USD) 168 7.8% WFE industry drivers for a 154 prolonged growth phase 32 <2.0% 135 30 119 123 17 • Structural AI demand 113 27 15.2% 107 16 25 24 24 14 37 • Advanced node investments 29
Slide 22: Memory Market Outlook: Strong Growth Driven by AI and Data Center Demand
Memory Market Outlook: Strong Growth Driven by AI and Data Center Demand DRAM demand projections NAND demand projections (in exabytes) 85 18% (in exabytes) 2,268 17% 11 28% 73 272 21% 4 9% 1,922 63 9 11 17% 231 363 12% 4 1,647 7 51 4 10 1,411 198 346 17 12% 5 9 155 43 3 1,167 329 635 10% 38 3 15 3 7
Slide 23: The Newest AI Applications Drive Front-end and Back-end Innovation
The Newest AI Applications are the Most Significant Driver of Front-end and Back-end innovation. AI Capital Markets Day 2025 11/13/2025 23
Slide 24: From Scaling to Stacking: Advanced Packaging
From Scaling to Stacking: Advanced Packaging at the Core of Semiconductor Advancement. Advanced 2.5D Packaging Advanced 3D Packaging Packaging drives system-level performance as traditional transistor scaling slows (Moore’s law) Logic die HBM Memory Logic die Stacked Stacked Logic dies Industry Mega
Slide 25: Rising Back-end Demand Unlocks a Major Growth Opportunity
Rising Back-end Demand Unlocks a Major Growth Opportunity. Advanced Packaging market Back-end metrology and inspection market Inspection/metrology market relevant for (die level) (in billion USD) Comet is growing 11.3%, faster than (in million USD) Advanced Package (9.5%) 78 850 Main Driver : 2.5D/3
Slide 26: Positioned Where the Growth is
Market trends Positioned Where the Growth is. Total TAM Comet Total SAM Comet USD 3.5bn USD 7.1bn Comet operates in +69% markets with highly +105% attractive growth profiles. USD 4.2bn Other Forward integration Security USD 1.7bn at PCT (Synertia) Automotive 4.6 2.8 and at IXS/IXM in Aerospace 65% 8
Slide 27: Developing Comet Into a Scalable and Highly Profitable Company
Developing Comet Into a Scalable and Highly Profitable Company Capital Markets Day 2025 11/13/2025 27
Slide 28: Convergence across the Semiconductor Value Chain Drives Comet's Transformation
Convergence across the Semiconductor Value Chain Drives Comet’s Transformation. Front-end and back-end boundaries are blurring Driven by demand for higher performance, efficiency, and heterogeneous integration Front-end Back-end Advanced packaging emerges as the link Enabling tighter integration of
Slide 29: Transforming Comet into a Scalable, High-margin Growth Company
Transforming Comet into a Scalable, High-margin Growth Company. Create value for customers and all our stakeholders As a high-performing and scalable organization and market and technology leader in plasma-control and x-ray technologies for the semiconductor and electronics market Capital Markets Da
Slide 30: ONE Comet: Transforming Together
ONE Comet: Transforming Together. Unified vision, digital collaboration, and shared leadership across all divisions accelerate innovation, execution speed, and scalability. PCT IXS IXM Transition High-end x-ray & CT inspection systems Semiconductor focus: AP, electronics from component supplier to f
Slide 31: Strengthening and Expanding Comet's Portfolio across the Value Chain
Strengthening and Expanding Comet’s Portfolio across the Semiconductor Value Chain. Leverage our core competencies. Expand into complementary domains Broaden relevance in the value chain Capital Markets Day 2025 11/13/2025 31
Slide 32: Expansion in Penang: Securing Future Growth
Expansion in Penang: Securing Future Growth. • Long-term efficiency and scalability • Balanced and Resilient Network • Regional Customer Proximity 2027 4 Penang: Asian Hub Own building 3 Group Cost & Scale Advantage Complementary Global Footprint 2 Strategic expansion Business continuity for Secured
Slide 33: Innovating Today. Sustaining Tomorrow. Collaboration with Universities
Innovating Today. Sustaining Tomorrow. Collaboration with Leading Universities Capital Markets Day 2025 11/13/2025 33
Slide 34: Innovating Today. Sustaining Tomorrow. Climate
Innovating Today. Sustaining Tomorrow. Climate Clean electricity >80 by the end of 2025 Capital Markets Day 2025 11/13/2025 34
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Slide 36: Technology Leadership in the Next Semiconductor Era
Technology Leadership in the Next Semiconductor Era André Grede, CTO Capital Markets Day 2025 11/13/2025 36
Slide 37: Advances in SEMI rely on Supplier's Technologies
Advances in SEMI rely on Supplier’s Technologies Design of Semiconductor Devices and Systems Device Manufacturing Packaging & Testing Frontend Backend Equipment, Sub-Equipment, Processes and Material Wafer Fab Equipment Near Technology’s Limits Pushing Technical Boundaries Evolving Through Collabora
Slide 38: "What" is Pushing the Next Technology Nodes
«What» is Pushing the Next Technology Nodes. WHY To enable higher performance, efficiency, and more functionality per cost The semiconductor industry advances its progress… WHAT Scaling Advanced Architectures Technologies …through continual innovation in chip Drivers scaling, architecture, and techn
Slide 39: We Play where Plasma Drives the Process
We Play where Plasma Drives the Process. Frontend manufacturing process Wafer Production Device Processing Loop Generate Plasma Process Power Control Parameters like plasma density and Ion energy Dep Litho, Dev Strip Etch Dope CMP/Clean Measure Plasma and process behavior in real-time Many important
Slide 40: Controlling Plasma Process Power
Controlling Plasma Process Power Deposition Plasma Chamber Etch Generator Match VacCap Applications: Plasma Power Sources: Applications: PECVD, ALD, Metal Dep., Sputtering • DC (rare in SEMI) Dielectric etch, Conductor etch, ALE, Stripping • RF (400kHz to GHz) Steps: • Nonsinusoidal (Pulsed / Bipola
Slide 41: Mastering RF Matching Networks
Mastering RF Matching Networks Operating Area Efficiency, Accuracy, Repeatability and Drift f1 … f3 Transients & Speed Scalability Capital Markets Day 2025 11/13/2025 41
Slide 42: Comet is Best Positioned to Address Real Customer Problems
Comet is Best Positioned to Address Real Customer Problems. Current Comet Focus Classical independent Advanced VacCap Match Hybrid Classical Solid State Matchless VacCap Match & Generator as a System Match Technologies Match (Synertia) (e.g. bipolar pulsing, tailored waveform) Repeatability Performa
Slide 43: Synertia Platform: Leveraging the Power of Data
Synertia® Platform: Leveraging the Power of Data • Smart & synchronized • Real-time communication Integrated and data analysis Measurement Studio • ns resolution Big-Data • Built-in problem solving On-site Big Data User post - processing Capital Markets Day 2025 11/13/2025 43
Slide 44: We Play where Plasma Drives the Process
We Play where Plasma Drives the Process. Frontend manufacturing process Wafer Production Device Processing Loop Leverage VacCaps, Matches Expand Syneria generator, match and system, new sensors, real-time data, new processes in front and backend Dep Litho, Dev Strip Etch Dope CMP/Clean Broaden Into
Slide 45: The Increasing Importance of the Backend
The Increasing Importance of the Backend. Beyond Moore From Devices to Systems Perfect performance-cost balance 1980 1990 1998 2005 2008 2014 2016 2018 Now https://semiengineering.com/more-than-moore-reality-check/ Capital Markets Day 2025 11/13/2025 45
Slide 46: From Packaging of Devices to Creation of Systems
From Packaging of Devices to Creation of Systems. Classical Backend / Packaging Process IC Chip (die) Encapsulation (resin) Leadframe Dice Die Bonding Wire Bonding Overmolding Testing Wires Pin Complex, multi step process Advanced Packaging • High value of complex systems in package Device & System
Slide 47: Comet: All Critical Technologies in One Hand
Comet: All Critical Technologies in One Hand Tube Generator & Monitoring Automation AI by Capital Markets Day 2025 11/13/2025 47
Slide 48: The Importance of the X-ray Source
The Importance of the X-ray Source resolution lost at the X-ray source cannot be recovered Electron beam X-ray • Resolution 400nm Horizontal Vertical • Extreme focal spot stability 130 130 Intensity (arb. u.) Intensity (arb. u.) • High power density • Reduction of artefacts 90 90 • Wide beam for lar
Slide 49: Comet: All Critical Technologies in one Hand
Comet: All Critical Technologies in one Hand Tube Generator & Monitoring Automation AI by Capital Markets Day 2025 11/13/2025 49
Slide 50: AI and Deep Learning at Comet
AI and Deep Learning Artificial Intelligence at Comet. Overall activities related to artificial intelligence Machine Learning Traning of machines to learn from data Deep Learning Machine learning based on artificial neural networks Generative AI Generating new data, based on information as used duri
Slide 51: Where our Technology plays. Today and Tomorrow
Where our Technology plays. Today and Tomorrow. Frontend Leverage VacCaps, Matches Wafer Production Device Processing Loop Expand Synertia generator, match and system, new sensors, real-time data, new processes in front Dep Litho, Dev Strip Etch Dope CMP/Clean and backend Broaden Into new technologi
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Slide 53: Break
BREAK Presentations continue at 10:50 CET Capital Markets Day 2025 11/13/2025 53
Slide 54: See Better. Faster. More.
See Better. Faster. More. Division Industrial X-Ray Systems (IXS) Isabella Drolz, Global Head Division IXS | VP Commercial Capital Markets Day 2025 11/13/2025 54
Slide 55: AI
AI Capital Markets Day 2025 11/13/2025 55
Slide 56: The Heterogenous Integration Field Acts in Various Ways
The Heterogenous Integration Field Acts in Various Ways Volume Packaging Market High-End Packaging Market INFO Products EMIB Next Generation Technology Process flow 100-60µm > 10µm 100-50µm <20µm Ø >20µm Ø 2D/ 3D structure to inspect C4 flip-chip bumps, µ-bumps, bond wires Solder bumps on wafer Mult
Slide 57: Advanced Packaging Key Challenges
Advanced Packaging Key Challenges ZERO DEFECTS MARKET MANUFACTURING TECHNOLOGY Win time-to-market Increase yield by Accelerate NPI race solving structural ramp-up time challenges INSIGHTS FORESIGHT Capital Markets Day 2025 11/13/2025 57
Slide 58: What is Needed?
What is Needed? See better. Faster. More. Capital Markets Day 2025 11/13/2025 58
Slide 59: Comet's Competitive Advantage – AI-Based Platform
Comet’s Competitive Advantage – AI-Based Platform as Key to Solve Structural Challenges. Dragonfly Management 3D World Data distribution and Workflow Interactive Interactive 3D inspection workflow control inspection visualization control and analysis software X-Ray Guided ProInsight system inspectio
Slide 60: Comet's X-ray Inspection Solutions for Semiconductors
Comet’s X-ray Inspection Solutions for Semiconductors. Root-Cause Failure Analysis Process Control CA20 CA20 FF35 CT Semi for the Lab for the Fab Capital Markets Day 2025 11/13/2025 60
Slide 61: Growing in High-end Market by Supporting our Customers
Growing in High-end Market by Supporting our Customers. Application Chip on Substrate Chip on Wafer Wafer Processing Glas Panel Level Product Introduction sample inspection & ramp up Automated Inspection Automated inspection Root-Cause Next application: Glas Panel Level Chip on Substrate for Chip on
Slide 62: Comet Engaged on all Levels of the Semi Supply Chain
Comet Engaged on all Levels of the Semi Supply Chain Design Supplier Foundry OSATs Inspection Shipping SiP OEM / Material Chiplet designer supplier Shipping foundry Outsourced semiconductor assembly and testing (OSATs) Inspection Interposer supplier Chiplet OEM / designer foundry Integrated device S
Slide 63: We are Globally Moving the Needle
We are Globally Moving the Needle We are moving the needle through Customer Engagement Funnel 2025 >60 >25 5 - Strategic Partnerships to have the pulse on the market 5 2 0 2023 Evaluation Qualification orders - Co-Creation with top market OSAT, IDM, foundry leaders - Global customer engagements alon
Slide 64: Key Take-aways for Comet
Key Take-aways for Comet. The semiconductor world has a challenge: we have the solution Industry Target: Increasing yield in Advanced packaging Solution: AI driven X-ray inspection solutions finding critical defects We are ready to scale We are ready to solve demands from failure analysis, product r
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Slide 66: Accelerate Growth Through Customer Obsession
Accelerate Growth Through Customer Obsession Division Plasma Control Technologies (PCT) Joeri Durinckx, Division President PCT Capital Markets Day 2025 11/13/2025 66
Slide 67: Radio-frequency market outgrows wafer fabrication equipment spend
Radio-frequency market outgrows wafer fabrication equipment spend. N A D/C Etch ALD / PEALD PVD PECVD Trends Semiconductor Processes RF Power technologies subsystems ∼ 70 % GAA CFET ∼ 7.8 % ∼ 11 % 656 – 1,115 bn USD Advanced foundry/logic CAGR 2024 – 2030 CAGR 2024 – 2030 2024 – 2030 Semiconductor I
Slide 68: Significant Plasma-Processing WFE Spend Drives PCT
Significant Plasma-Processing WFE Spend Drives PCT. WFE processes 106 B$ Etch Deposition Other Plasma Processes 19 B$ 17 B$ 36 B$ 10 B$ 8 B$ 1 B$ 7 B$ 7 B$ 3 B$ C-Etch D-Etch Strip PVD PECVD ALD Lithography Top three players hold Top two players hold ~80 % of market ~70 % of market Source: Gartner C
Slide 69: Becoming Faster, Resilient, Scalable to Drive Growth
Becoming Faster, Resilient, Scalable to Drive Growth. Broadened Product Portfolio Customer Expanding available Obsession market One global Team Operational Efficiency Capital Markets Day 2025 11/13/2025 69
Slide 70: PCT Growth Strategy: Customer Obsession & Market Expansion
PCT Growth Strategy: Customer Obsession & Market Expansion. Broadened Product Portfolio Customer Expanding available Obsession market One global Team Operational Efficiency Capital Markets Day 2025 11/13/2025 70
Slide 71: Customer Obsession and Market Diversification
Customer Obsession and Market Diversification. Broaden Portfolio Customer Focus Diversify Broaden product portfolio and Be close to OEMs, e.g. … Diversify across devices and differentiate with integrated end customers, e.g. RF Power Delivery Platform Foundry/Logic Components DRAM (HBM) RF Subsystems
Slide 72: Broadened Product Portfolio for SAM Growth
Broadened Product Portfolio for SAM Growth. Broadened Product Portfolio Customer Expanding available Obsession market One global Team Operational Efficiency Capital Markets Day 2025 11/13/2025 72
Slide 73: Expanding Product Portfolio with New Technology Development
Expanding Product Portfolio with New Technology Development. Synertia® RF Power Delivery Platform Vacuum Capacitor RF Match RF Generator #1 #1 SAM Expansion Integrated System Differentiators Fast sensor & Higher Power Power accuracy & Fast transients control, Multi-level Key Density Pulse shaping Pu
Slide 74: Synertia RFG and RFM: Clear Momentum Shift since 2023
Synertia® RFG (generator) and RFM (matchbox): Clear Momentum Shift since 2023. CMD CMD 2023 2025 Synertia Synertia® RFG RF Power Delivery Platform Synertia RFG Synertia Expanded product range Product range RFM MHz 13.56 27 60 40 13.56 MHz / 1.5, 5.0 kW Integrated, high speed / precision platform con
Slide 75: Synertia RFG Market Introduction Progressing well
Synertia® RFG Market Introduction Progressing well. Global customer engagements Customer Engagement Funnel > 100 Active engagements >50 >30 15 Evaluation Qualification HVM orders 2023 11 9 0 Customer adoption driven by > 1’000 • Power accuracy Expected high-volume PO • Pulse shaping • Multi-level pu
Slide 76: Turning Industry Shifts into Advantage: The Transition has just Begun
Summary Turning Industry Shifts into Advantage: The Transition has just Begun. Focus Customer Obsession Semiconductor & OEMs Comet PCT Growth Know market and requirements with highest focus on customer’s needs (AI) Trends are Customer Intimacy Product Portfolio Advance product range to diversify int
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Slide 78: Managing High Growth and Sustained Profitability
Managing High Growth and Sustained Profitability Christian Witt, CFO Capital Markets Day 2025 11/13/2025 78
Slide 79: Adapting our Strategy for a Changing World
Adapting our Strategy for a Changing World. The new business reality … … requires clear business priorities Upfront investments Strategic capital allocation Market volatility FX Cash management Pricing Tariffs AI Trade barriers Cost efficiency Digitalization Product line profitability Regionalizatio
Slide 80: Updated Midterm Ambitions Reflect FX and Timing until the Next Peak of the Cycle
Updated Midterm Ambitions Reflect FX and Timing until the Next Peak of the Cycle. 670-770 22-27 27-32 Net sales (million CHF) EBITDA margin (%) ROCE: return on capital employed (%) Assumptions for current POC targets: • POC assumed in 2028 Previous targets for POC issued in 2023: • CAGR WFE market a
Slide 81: Upfront Investment in R&D Supports Future Growth
Upfront Investment in R&D Supports Future Growth. Accelerating growth • Investing ahead of demand: building 300 tomorrow’s scale 250 • Focused, high-conviction R&D 200 investments (Synertia, CA20) 150 • R&D ramped beyond current sales: 100 long-term structural advantage with Indexed to 100 in 2014 s
Slide 82: Growth, Efficiency, Resilience: The Levers to Deliver on our Ambitions
Growth, Efficiency, Resilience: The Levers to Deliver on our Ambitions. Growth Efficiency & Resilience • Underlying PCT semi business • Full global footprint • New products and services - Synertia ® platform 670-770 • Operating leverage 22-27 - Pivoting IXS and IXM toward the • Cost efficiency semic
Slide 83: Sales Fueled by Volume and New Products
Sales Fueled by Volume and New Products. • Volume growth in established markets 110-150 -100 • Price/Mix effects 670-770 215-275 • New business mainly Synertia and CA20 • FX assumption for USD/CHF: 0.70 (2028) 445 Sales FY24 Volume/Price/Mix New business FX Sales POCe Capital Markets Day 2025 11/13/
Slide 84: Multiple Levers to Transition to Higher EBITDA Margin
Multiple Levers to Transition to Higher EBITDA Margin. • Operational leverage from volume growth in established 5-7% -4% markets and new businesses 22-27% • Efficiency gains 7-11% − restructuring non-semi IXS − efficiency measures in the entire Group 13.6% − Asian hub in Penang • FX assumption for U
Slide 85: PCT Leading the Way; all Divisions Make it Happen
PCT Leading the Way; all Divisions Make it Happen. Share of Group net sales at POC EBITDA margin contribution ROCE margin contribution PCT: ∼ 60%-70% Above group average PCT Above group average PCT Group: Group: IXS: ∼ 15%-25% 22%-27% IXM 27%–32% IXM: ∼ 10%-20% Below group average IXS Below group av
Slide 86: Transforming into a Scalable High-tech Leader
Transforming into a Scalable High-tech Leader. PCT IXS IXM • Product innovation Top line • Market growth and penetration • Pivot to semiconductor industry • New markets drivers • Synertia • Selected industrial niches (semi, electronics, battery) Profitability • Operating leverage, price/mix, • Downs
Slide 87: IXS Non-semi Business and CA20 Both Contribute to 2028 Earnings Improvement
IXS Non-semi Business and CA20 Both Contribute to 2028 Earnings Improvement. IXS Top line • Pivot to semiconductor industry drivers • Selected industrial niches Profitability • Downsizing low-profitability drivers businesses, right-sizing cost base, CA20 Sales 130 CAGR EBITDA margins IXS (mn CHF) ∼3
Slide 88: Cash-flow Funded Growth with Balance Sheet Strength and Deal Optionality
Cash-flow Funded Growth with Balance Sheet Strength and Deal Optionality. Operating cashflow • Organic growth and mid-scale 71 in CHF million 64 capex fully funded by operating 57 58 cash flow (incl. Penang) 49 50 36 38 42 42 41 • Existing cash generation allows for 33 31 28 bolt-on M&A 30 22 19 • B
Slide 89: Capital Allocation: Investments into Growth the Top Priority
Capital Allocation: Investments into Growth the Top Priority. Fund core operations Investments into growth • R&D spend – target range 10% to 15% of net sales Invest in • Targeted M&A as an option to accelerate growth high-return growth Balance sheet Balance • Adequate cash position with high exposur
Slide 90: Other Financial KPIs for Reference
Other Financial KPIs for Reference. KPI Capex Net Working Net Debt Equity Ratio Capital / Sales Factor Target 3% to 7% < 20% 50% to 65% <2 of net sales of net sales FY24 2.9% 27.3% 61.3% –0.3 of net sales of net sales Remarks ∼ 2PP for maintenance ∼ Inventory management Balancing growth investments
Slide 91: Focus on High Growth and Profitability
Focus on High Growth and Profitability. Improve profitability Solid financials for growth Enablers & Culture • Improve Group cost position and • Prioritize investing in high-margin / • Full transparency – profitability, resilience high-growth products & customers process, cost, organization • Levera
Slide 92: Enabling Comet's transformation – high growth and profitability
Enabling Comet’s transformation – high growth and profitability Capital Markets Day 2025 11/13/2025 92
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Slide 94: Wrap-up and Midterm Outlook
Wrap-up and Midterm Outlook Stephan Haferl, CEO Capital Markets Day 2025 11/13/2025 94
Slide 95: Comet in transformation: Adapting to the new reality
Comet in transformation: Adapting to the new reality. Supply Chain Global shifts demand decisive action Constraints Currency Volatility • Industry transformation creates new winners Tariffs & Trade Barriers • Focus to secure leadership in RF Power, x-ray Geopolitical tensions • Accelerating our tran
Slide 96: Financial key take-aways
Financial key take-aways. 670-770 22-27 27-32 Net sales (million CHF) EBITDA margin (%) ROCE: return on capital employed (%) Capital Markets Day 2025 11/13/2025 96
Slide 97: Reasons to invest
Reasons to invest • Mission-critical RF & X-ray technologies powering semiconductor innovation • Structural growth drivers: AI, digitalization, electrification • Strong market positions in high-barrier niches with deep customer integration • Scalable, resilient operating model and global footprint •
Slide 98: Q&A Session
Q&A Session Stephan Haferl, Chief Executive Officer Christian Witt, Chief Financial Officer André Grede, Chief Technology Officer Joeri Durinckx, Division President PCT Isabella Drolz, Global Head Division IXS | VP Commercial Moderator: Ulrich Steiner / VP Communications, IR & Sustainability Capital
Slide 99: Thank you for attending Comet's Capital Markets Day 2025
Thank you for attending Comet’s Capital Markets Day 2025 Capital Markets Day 2025 11/13/2025 99
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