Comet Beats H1 EBITDA Forecasts, Issues Full-Year 2026 Guidance

Comet Group (COTNE) reported a 5.6% increase in first-half sales and an earnings figure that surpassed analyst expectations, driven by strong organic growth. The Swiss technology firm also introduced its first quantitative guidance for the full fiscal year 2026, providing a clearer outlook for investors.

H1 Results Beat Profit Expectations

For the first half of 2026, the company posted group sales of CHF 240 million, as reported on Wednesday. This represents a 12.7% increase on an organic basis and was broadly in line with UBS estimates of CHF 239 million, though slightly below the market consensus of CHF 244 million.

Reported EBITDA came in at CHF 31 million with a margin of 13.1%, beating consensus estimates of CHF 28 million. Net income surged 72% year-over-year to CHF 14 million, a figure the company noted was affected by elevated tax expenses. A key indicator of future demand, the group's book-to-bill ratio stood at a robust 1.57, with second-quarter orders totaling CHF 213 million.

Mixed Performance by Segment

The company's divisions showed varied results during the first half. The Plasma Control Technologies (PCT) and Industrial X-Ray Modules (IXM) segments were the primary growth drivers.

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• Plasma Control Technologies (PCT): Sales grew 7.0% to CHF 144 million with a strong EBITDA margin of 20.1%.
• Industrial X-Ray Modules (IXM): Delivered 10.5% sales growth to CHF 54 million and a 16.1% EBITDA margin.
• Industrial X-Ray Systems (IXS): Saw flat year-over-year sales at CHF 49 million and posted a negative EBITDA margin of -8.2%.

Full-Year Outlook Introduced

Looking ahead, Comet introduced quantitative guidance for the full fiscal year 2026, projecting net sales in the range of CHF 540 million to CHF 570 million. The reported EBITDA margin is forecast to be between 14.0% and 17.0%, a figure that includes 3 percentage points from one-off items.

This new forecast provides more specific targets than the company's previous guidance, which only stated that 2026 results would exceed 2025 levels. The provided ranges for both sales and margin align with current consensus estimates, which stand at CHF 560 million and 15.2%, respectively.