Comet: FY results ahead of guidance lift shares
27/01/2021 07:45
** Comet COTNE.S shares are up 4.1% in Swiss pre-market
trade after the Swiss tech manufacturer reported FY2020 results
ahead of recent guidance and anticipates continuing strength in
FY 2021 urn:newsml:reuters.com:*:nFWN2K118W
** The company reported net sales of CHF 395.8 million
($446.37 million) vs guidance of between CHF 385-395 mln, and
EBITDA margin of 14.8% vs guidance of between 13-14%
urn:newsml:reuters.com:*:nFWN2IB0YA
** Credit Suisse notes that FY results were driven by the
semiconductor-related business, stabilization in X-Ray Modules
and X-Ray Systems during H2
** It adds further strength in the semiconductor cycle and
the stringent execution of the focused growth strategy suggest
that 2021 will be another year of significant improvement in
Comet's results
** Stock on top of the Swiss mid-cap index .SMIM
($1 = 0.8867 Swiss francs)
((elizaveta.gladun@thomsonreuters.com))