OREANDA-NEWS. The COMET Group delivered further organic growth in 2014, with sales up in all regions and operating segments. Consolidated net sales rose from CHF 249.6 million to CHF 287.9 million, surpassing the strong prior year by 15.3% (17.2% in local currencies).

The high sales and the continued strategic work to improve operating efficiency led to tangible profit growth. EBITDA earnings of the COMET Group increased from CHF 36.0 million to CHF 39.8 million, even amid strategic investment in future growth. The EBITDA margin was 13.8% (2013: 14.4%). Group net income rose markedly to CHF 26.3 million (2013: CHF 16.1 million). A driving factor next to the strong sales was a one-time positive tax effect of CHF 6.1 million from the utilization and recognition of tax loss carryforwards in the USA. COMET also raised its economic profit severalfold, and significantly boosted the value of the Group: Return on capital employed went from 10.8% to 15.6%, compared to a cost of capital of 9%. Free cash flow was CHF 18.5 million (2013: CHF 10.7 million). The equity ratio increased to a very good 65.0%. Net debt fell to the low level of CHF 2.0 million.

Strategy succeeds – COMET Group more robust than ever

The steady focus on global marketing of innovative products and technologies made the COMET Group even stronger than before. Critical headway was achieved in all core dimensions of Group strategy. The relationships with key accounts were deepened and new growth-driving projects started in areas such as the semiconductor industry, security inspection and non-destructive testing. As well, new customers were acquired and important design wins paved the way for future growth. Process efficiency continued to be improved. The product portfolio was bolstered with innovative solutions such as the intuitive FeinFocus (FF) computed tomography systems, portable Smart Evo x-ray modules for pipeline inspection, and the sophisticated SmartCon vacuum capacitor.

The Group also made extensive progress in its emerging businesses: In radio frequency (RF) generators, COMET developed new solutions for future use by the semiconductor industry. In the ebeam activities, development of the business is on track. The rollout of this technology with Tetra Pak was initiated with the delivery of the first ebeam-equipped beverage packaging systems to Japan. In Flamatt the unit began to implement a scalable manufacturing concept that in the medium term will enable the production of larger series of ebeam equipment. To expand market access for ebeam, the business unit launched a collaboration with two system integration firms for the European and North American markets.

In the first half of the year, to raise more synergies in market development, the COMET Group transferred the portable-x-ray modules business from the X-Ray Systems segment (IXS) to the X-Ray & ebeam Technologies segment (XET).