Half Year 2024 Comet Holding AG Earnings Call Transcript
Key Points
- Significant improvement in free cash flow from minus CHF15.3 million to plus CHF8.1 million.
- Sequential increase in net sales by almost 34% from Q1 to Q2.
- Incoming orders increased by 22% compared to H1 '23, with a book-to-bill ratio of 1.1.
- Positive development in the semiconductor market, with microchip revenues increasing by almost 19% compared to the first month of 2023.
- Successful launch and positive customer feedback for new products like the Synertia RF Matchbox platform and CA20 lab inspection system.
- First half-year sales did not match the previous year's level.
- Significant pricing pressure from Asian competitors in lower-value x-ray applications.
- Lower sales in the automotive industry due to stagnation in new car production.
- IXM division recorded lower sales compared to the exceptionally strong first half of 2023.
- EBITDA margin remained flat compared to the previous year, indicating challenges in improving profitability.
Ladies and gentlemen, welcome to Comet's webcast and conference call on the 2024 half-year results. Joining me in the room today are our CEO, Stephan Haferl; and our Interim CFO, Nicola Rotondo.
Before I hand over to our CEO, who will explain the results in more detail, I would like to draw your attention to the disclaimer on page 2 of the presentation and to the included forward-looking statements that my colleagues will be making in the course of this conference.
With that, I would now like to hand over to our CEO, Stephan. Please.
Thank you, Uli. Ladies and gentlemen, I would like to welcome you to the presentation of the results for the first half of 2024. Thank you for taking the time to participate in our webcast and conference call. As Uli already mentioned, our Interim CFO, Nicola Rotondo, will be joining me today to present the detailed financial results
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