Capital Markets Day: Comet positioned to lead in next era of semiconductor innovation

• Comet reinforces its strategic focus and is poised to seize opportunities in the highly attractive semiconductor market
• Artificial intelligence, digitalization, and electrification remain key growth trends, and Comet is well positioned to benefit
• Expanding the Synertia technology platform and CA20 x-ray inspection systems strengthens market engagement
• Revised mid-term financial targets reflect evolving dynamics in the semiconductor industry

The semiconductor market remains one of the world’s most dynamic and strategically critical industries, underpinning everything from artificial intelligence and autonomous vehicles to cloud infrastructure, industrial automation, and national security. Across the industry, the complexity of chip design, architecture, and manufacturing is accelerating at an unprecedented pace. Every new generation of semiconductors pushes the limits of what is physically possible, therefore demanding higher precision, tighter process control, and more advanced production equipment.

Comet’s technologies are deeply embedded across the entire chip manufacturing process, playing a critical role at multiple stages, both in the front-end wafer fabrication and in the back-end assembly and testing.

Leveraging its strong market position, Comet is pursuing long-term growth, technological leadership, and sustainable value creation through three proven strategic pillars:

• Driving targeted investments in future growth
  This includes continued investments in R&D as well as strengthening the company's relevance in adjacent, technology-driven fields, possibly through smaller, complementary acquisitions. These measures reinforce Comet’s innovation power and ensure that the company maintains its position as a technology leader.
• Increasing operational efficiency
  In a highly dynamic and competitive industry, operational efficiency and speed remain decisive success factors. By expanding Penang as a second global hub alongside Flamatt, Comet enhances flexibility, scalability, and time-to-market. Combined with additional efficiency measures, this expansion will strengthen the company's profitability.
• Strengthening a high-performance company culture
  People and culture are a core enabler of Comet’s strategy. The goal is to continue to build a future-ready organization based on curiosity, collaboration, and global connectivity. A true customer obsession is seen as crucial: An unwavering commitment to deeply understanding, anticipating, and exceeding customer needs. Aligning the entire company’s focus around this principle is fundamental to Comet‘s long-term success.

CEO Stephan Haferl: “The three strategic pillars are designed to expand our long-term relevance in the semiconductor value chain, while enabling us to remain agile amid short- and mid-term macroeconomic and geopolitical shifts affecting the industry.“

Targeting attractive market segments

Comet’s total addressable market (TAM) is growing significantly faster than the overall market, from USD 4.2 billion US dollars today to USD 7.1 billion by 2028, an increase of about 69%. More importantly, Comet’s serviceable addressable market (SAM), outgrows TAM significantly by more than doubling over the same period, from USD 1.7 billion to USD 3.5 billion, representing 105% growth. These projections indicate that the company is well positioned in the fastest-growing segments of the market, most notably semiconductors. Comet will further expand its presence through forward integration and the development of new revenue streams, e.g., in semiconductor metrology and process control.

New products gaining traction

Comet has more than 100 engagements with customers on the high-frequency platform Synertia (RF generator and RF matchbox) and more than 80 active collaborations on the x-ray system for semiconductor component inspection, CA20. Following promising orders in 2025, a further acceleration of order intake for both product families is expected in 2026.

CEO Stephan Haferl summarized: “The semiconductor industry is transitioning, fueled by AI-driven convergence between front- and backend processes and shaped by geopolitical shifts. To better align with the long-term drivers of the industry and capture the opportunities ahead, we accelerate Comet’s transformation by becoming faster, more efficient, and even more focused on our customers’ needs.”

Mid-term targets aligned to new market realities

In response to recent developments in the semiconductor industry and their implications for Comet, the mid-term targets have been revised. For the next peak of the semiconductor cycle, currently expected for 2028 (previously 2027), Comet guides for:

• Net sales of CHF 670 million to CHF 770 million (from CHF 800 million to CHF 900 million)
• EBITDA margin between 22% and 27% of net sales (previously 25% to 30%)
• Return on capital employed (ROCE) of 27% to 32% (from 30% to 35%)

The revised guidance is essentially unchanged in constant currencies and reflects the new assumption for the USD/CHF exchange rate of 0.70 (previously 0.90) and to a lesser degree the gradual progress in new product introductions. Yet we remain confident in their strong future potential. By taking a prudent macroeconomic view today, we are positioning ourselves to fully capitalize on opportunities as the market environment strengthens

Further details will be shared at today’s Capital Markets Day.

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Capital Markets Day

Comet will hold a Capital Markets Day in the form of an in-person event on November 13, 2025, from 9:00 am to 12:15 pm CET at the Hotel Widder in Zurich, Switzerland. The event will be held in English only and can be accessed as a live video webcast via the following link.

Link to the live video webcast

Phone dial-in is also available.

Link to registration for conference call