Slide 1: FY2021 Financial Results
FY2021 Financial Results March 4, 2022 Kevin Crofton, CEO Lisa Pataki, 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 2022
Slide 4: Maintained focus in 2021: record results
Maintained focus in 2021: record results Record financial results 20.0% Improvement in all key financial metrics Continued progress toward mid-term targets 513.7 Net sales in CHF million EBITDA margin • launched new products and services into target markets (+29.8% vs. 2020) (FY2020: 14.8%) • streng
Slide 5: Improving end market conditions, despite chip shortage
Improving end market conditions, despite chip shortage Semiconductors Automotive Aerospace Security Supercycle in full swing Production improving Global passenger air traffic In-line recovery with increased continues to recover mobility and higher trade activity Wafer fabrication equipment Passenger
Slide 6: Comet Group in FY21: important steps towards our long-term goals
Comet Group in FY21: important steps towards our long-term goals Raised our production Strengthened our proximity to Product and service portfolio Further developed corporate efficiency customers in Asia expanded in all three divisions culture sharpening our values Improved gross margin Regional shi
Slide 7: Divisions performed above expectations in 2021
Divisions performed above expectations in 2021 PCT IXS IXM • First purchase order of Synertia™ • Realignment gained momentum • Successful launch of new products in RF generator • First purchase order for x-ray system for parallel with market recovery • Expanded our market share in vaccaps advanced p
Slide 8: Summary 2021
Summary 2021 Replace with picture from AR 2021 • Our strategy is bearing fruit • PCT: staying ahead of the rapid growth in semi • X-ray: capitalizing on rebounding market conditions • Successful collaboration with our partners to overcome challenges FY2021 Financial Results 3/4/2021 8
Slide 9: Agenda
Agenda 01 Business & Industry Review 02 Financial Results 03 Outlook 2022
Slide 10: Financial highlights
Financial highlights GROWTH PROFITABILITY EFFICIENCY CAPITAL ALLOCATION Outstanding revenue Expanded gross margins Disciplined execution Increased return to growth shareholders FY2021 Financial Results 3/4/2022 10
Slide 11: Historical revenue growth, solid margin expansion
Historical revenue growth, solid margin expansion in CHF millions 2021 2020 Y-O-Y (3) Net sales 513.7 395.8 +29.8% Gross margin 43.4% 39.8% +360 bps EBITDA 102.7 58.6 +75.3% EBITDA margin 20.0% 14.8% +520 bps Net income 67.4 27.7 +143.8% Free cash flow (1) 57.8 41.6 +38.7% Return on capital employed
Slide 12: All divisions capitalized on profitable growth
All divisions capitalized on profitable growth Net sales [in CHF million] EBITDA margin PCT 26.3% IXS IXM 19.4% 6.4% 22.0% 14.7% -0.9% 224.7 306.1 106.8 138.9 61.5 78.9 FY2020 FY2021 FY2020 FY2021 FY2020 FY2021 Net sales +36.2% Net sales +30.1% Net sales +28.4% EBITDA 80.5m CHF EBITDA 8.9m CHF EBITD
Slide 13: Maintained net working capital discipline
Maintained net working capital discipline in CHF million, otherwise indicated 2021 2020 Y-O-Y (3) Cash and cash equivalents 115.5 74.7 +54.7% CapEx (1) 11.5 13.6 −15.5% CapEx as % of sales 2.2% 3.4% −120 bps Net working capital 99.5 69.4 +43.2% Net working capital as % of sales (2) 17.8% 21.8% −400
Slide 14: Stronger return to shareholders
Stronger return to shareholders 2021 2020 Y-O-Y (2) Equity (in million CHF) 275.0 215.0 +27.9% Equity ratio (1) 56.1% 50.1% +600 bps Earnings per share (in CHF) 8.68 3.56 +143.8% Dividend per share (in CHF) 3.50 1.30 +169.2% Pay-out ratio 40% 37% +300 bps (1) equity/total assets (2) rounding differe
Slide 15: Agenda
Agenda 01 Business & Industry Review 02 Financial Results 03 Outlook 2022
Slide 16: Strong market conditions
Strong market conditions supply chain bottlenecks remain Semiconductors Automotive Aerospace Security Semi market remains strong Continued steady recovery in Continuation of recovery in civil Projected strength in security: throughout 2022, likely ‘23 production through 2022, aviation; private aviat
Slide 17: Play to strengths, seize opportunities in 2022
Play to strengths, seize opportunities in 2022 • keep pace with fast-growing customer demand • release new Synertia™ RF Generator variants to beta-testing in 2022 PCT • expand market share in RF matchbox, maintain vaccaps share • continue to ramp-up Penang plant with volume production • continue the
Slide 18: 2022: another year of growth
2022: another year of growth Robust industry drivers … geopolitics drive uncertainties Guidance FY22 Growth, efficiency and culture • continue to vigorously implement focus strategy • advance sustainability goals Revenue (in million CHF) 570 to 610 • strengthen digital landscape, lean production, cy
Slide 19: Q&A
Q&A
Slide 20: Appendix
Appendix cemet group
Slide 21: Consolidated statement of income
Consolidated statement of income in thousands of CHF FY 2021 FY 2020 Y-O-Y Net sales 513,721 395,816 +29.8% Gross profit 222,800 157,567 +41.4% • Other operating income 3,682 5,428 -32.2% • Development expenses (55,344) (53,220) +4.0% • Marketing and Selling expenses (47,637) (43,369) +9.8% • G&A ex
Slide 22: Consolidated statement of cash flows
Consolidated statement of cash flows in thousands of CHF 2021 2020 Y-O-Y Net cash provided by operating activities 70,489 57,045 +23.6% In % of net sales 13.7% 14.4 % -70 bps Net cash (used in) investing activities (12,722) (15,396) –17.4% Free cash flow 57,767 41,649 +38.7% In % of net sales 11.2%
Slide 23: Consolidated balance sheet
Consolidated balance sheet in thousands of CHF 2021 in % 2020 in % Current assets 304,373 62.1 238,308 55.5 Non-current assets 186,042 37.9 190,963 44.5 Total assets 490,415 100.0 429,271 100.0 Current liabilities 126,033 25.7 180,649 42.1 Non-current liabilities 89,402 18.2 33,666 7.8 Total liabili
Slide 24: Y-O-Y Net Sales Walk
Y-O-Y Net Sales Walk in million CHF +29.8% 17.2 (14.6) 1.5 (5.3) 513.7 86.3 395.8 Volume effect Negative in local currencies currency effect CHF 123.2m, +31.1% -1.3% (1) Net sales 2020 PCT IXS IXM EBT Elim. Currency Net sales 2021 intersegment translation sales effect (1) Comet sold the ebeam lamp b
Slide 25: Y-O-Y EBITDA Margin Walk
Y-O-Y EBITDA Margin Walk +520 bps FY2021 Financial Results 3/4/2022 25
Slide 26: cemet
cemet group