Slide 1: H1 2025 Financial Results
H1 2025 Financial Results July 31, 2025 Stephan Haferl, CEO Christian Witt, CFO Comet AG Herrengasse 10 CH-3175 Flamatt T +41 31 744 90 00 www.comet.tech
Slide 2: 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 3: Agenda
Agenda 01 Business & Industry Review 02 Financial Results 03 Outlook 04 Q&A H1 2025 Financial Results 7/31/2025 3
Slide 4: Strong top-line performance supported year-on-year improvements
Business & Industry Review Strong top-line performance supported year-on-year improvements Comet achieved strong growth in H1/25 20% year-on-year increase in net sales; significant 42.4% growth in PCT Weak gross margin impacts overall profitability 227.2 9.1% Mix and currency effects contribute to m
Slide 5: Microchip innovation drives growth, traditional industrial markets lag
Business & Industry Review Microchip innovation drives growth, traditional industrial markets lag Semiconductors and Electronics Other industrial segments • AI, cloud computing, and HPC continued to drive strong demand • Manufacturing: recovering modestly in the U.S., persistent for advanced logic a
Slide 6: Divisional performance reflects varying market dynamics
Business & Industry Review Divisional performance reflects varying market dynamics PCT IXS IXM • AI-led momentum continued: value play • High-runners facing volatile market • Introduction of new products offset weak continues, volumes still lagging demand market sentiment • Lower-than-expected gross
Slide 7: Solid sales performance, margin suffering from FX and mix
Business & Industry Review Solid sales performance, margin suffering from FX and mix • AI-related investments driving PCT to 42% net sales growth • Value-Driven Growth: Logic Chips for AI and High-Bandwidth Memory (HBM) • Gradual sales improvement: Q2 stronger than Q1 • IXS improvement initiatives a
Slide 8: Agenda
Agenda 01 Business & Industry Review 02 Financial Results 03 Outlook 04 Q&A H1 2025 Financial Results 7/31/2025 8
Slide 9: Financial overview
Financial Results Financial overview • Top-line driven by strong growth in PCT and solid results in IXM • FX headwinds and product/regional mix negatively affected results, mainly in gross profit • Incoming orders in Q2 indicate a softening in WFE capex towards a flat H2/25 • Financial priorities re
Slide 10: Divisional performance was mixed, with two divisions reporting improvements
Financial Results Divisional performance was mixed, with two divisions reporting sales and margin improvements Net sales [in CHF millions] EBITDA margin PCT IXS IXM 15.8% -3.5% 17.2% 9.7% 15.7% -15.4% 94.3 134.3 55.2 48.7 46.5 48.4 H1 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 Net sales +42.4% Net
Slide 11: Strong top-line growth – gross profit impacted by mix effects and currencies
Financial Results Strong top-line growth – gross profit impacted by mix effects and currencies in CHF millions, otherwise indicated H1 2025 H1 2024 Change (3) Net sales 227.2 189.3 +20.0% Gross profit margin 38.5% 40.1% −1.6pp EBITDA 20.7 13.0 +59.5% EBITDA margin 9.1% 6.9% +2.2pp Net income 7.9 4.1
Slide 12: Excellent financial position, Penang expansion financed from operating cash flow
Financial Results Excellent financial position, Penang expansion financed from operating cash flow in CHF millions, otherwise indicated H1 2025 H1 2024 Change (4) Cash and cash equivalents end H1/25 93.0 YE24 113.7 –18.2% CapEx (1) 12.1 4.8 +151.0% - % of sales 5.3% 2.5% +2.8pp Net working capital 1
Slide 13: Measures to recover on gross profit margin are in place
Financial Results Measures to recover on gross profit margin are in place Focus on improving profitability in H2/25 Gross profit margin 44.6% • Weak gross profit margin in H1 mainly 42.8% 43.4% 43.4% affected by FX and mix 41.0% 41.4% • Measures already in place to improve 39.8% 40.1% production eff
Slide 14: Agenda
Agenda 01 Business & Industry Review 02 Financial Results 03 Outlook 04 Q&A H1 2025 Financial Results 7/31/2025 14
Slide 15: Cautious optimism in the semiconductor industry; mixed signals in industrials
Outlook Cautious optimism in the semiconductor industry; mixed signals in industrials segments persist Semiconductors and Electronics Other industrial segments • Continued strong growth in AI-related products • Manufacturing: recovery in the U.S. (reshoring, infrastructure); • Volume markets show in
Slide 16: Revised guidance for FY25 reflects a more cautious view
Outlook Revised guidance for FY25 reflects a more cautious view of the business environment Heightened macroeconomic and geopolitical uncertainties Impacting semiconductor industry growth prospects for H2 Guidance FY25 Semiconductor industry becoming more cautious Net sales (in CHF millions) 460 to
Slide 17: Q&A
Q&A
Slide 18: Appendix
Appendix cemet
Slide 19: Definition of financial key figures
Appendix Definition of financial key figures (pages 20 to 22) Book-to-bill ratio: Ratio of orders received to the amount billed for a specific period Capex: Purchases of property, plant and equipment and intangible assets shown under investing activities in the consolidated cash flow statement EBITD
Slide 20: Consolidated statement of income
Appendix Consolidated statement of income in CHF millions (rounding differences may occur) H1 2025 H1 2024 Change Net sales 227.2 189.3 +20.0% Gross profit 87.5 75.9 +15.3% • Other operating income 3.2 2.0 +53.9% • Development expenses -34.8 -31.4 +10.7% • Marketing and selling expenses -25.2 -24.9
Slide 21: Consolidated statement of cash flows
Appendix Consolidated statement of cash flows in CHF millions (rounding differences may occur) H1 2025 H1 2024 Change Net cash provided by operating activities 11.8 11.2 +6.2% in % of net sales 5.2% 5.9% -0.7pp Net cash (used in) investing activities -10.5 -3.1 -243.5% Free cash flow 1.3 8.1 -83.4%
Slide 22: Consolidated balance sheet
Appendix Consolidated balance sheet in CHF millions (rounding differences may occur) Jun 30, 2025 in % Dec 31, 2024 in % Current assets 284.9 57.2 316.7 59.6 Non-current assets 213.5 42.8 214.5 40.4 Total assets 498.4 100.0 531.2 100.0 Current liabilities 150.2 30.1 99.9 18.8 Non-current liabilities
Slide 23: Net sales walk H1 2024 to H1 2025
Appendix Net sales walk H1 2024 to H1 2025 in CHF million + 20.0 % 43.8 3.2 2.3 227.2 -5.4 -6.0 189.3 Volume effect Negative in local currencies currency effect CHF + 43.9 m (+23.2%) CHF -6.0 m (-3.2%) Net sales H1 2024 PCT IXS IXM Elimination FX impact Net sales H1 2025 intersegment sales H1 2025 F
Slide 24: EBITDA margin walk H1 2024 to H1 2025
Appendix EBITDA margin walk H1 2024 to H1 2025 +2.2pp +8.1pp 9.1% –4.9pp –1.0pp 6.9% EBITDA H1 2024 Volume & mix impact Cost impact FX impact EBITDA H1 2025 H1 2025 Financial Results 7/31/2025 24
Slide 25: comet
comet