Comet Sees Gradual Semiconductor Recovery in Q3

Comet Holding AG reports a gradual recovery in the semiconductor sector during the third quarter of 2024. Net sales reached CHF 113.2 million, showing a 45.6% increase year-on-year and a 4.4% rise from the previous quarter. The year-to-date sales now total CHF 302.5 million, representing a 6.2% growth from last year. The semiconductor industry's improved prospects, notably in AI applications, have fueled this growth, despite stagnant demand in industrial markets, especially in the automotive sector.

Strategic milestones were achieved, including the launch of the Synertia RF Matchbox and ongoing customer projects. Plans for a fully automated semiconductor inspection system are set for Q4. The positive trend in selected semiconductor segments persists, driven by rising microchip demand. However, varied performances are expected in automotive, aerospace, and security sectors.

For 2024, Comet anticipates ending net sales and EBITDA margins at the lower end of its forecasted range, affected by currency headwinds.