Comet Holding AG (COTN.SW), a Swiss technology company, Tuesday said that its net sales decreased 4.5 percent in the first quarter, impacted by lower revenues in the PCT and IXS segments. Additionally, the company also confirmed its outlook for the year ahead.
During the three-month period, the company's net sales were 106.3 million Swiss francs, down from 111.2 million francs in the same period last year. On a constant currency basis, the decline is 5.8 percent. The drop in net sales was mainly due to lower revenues in the PCT and IXS divisions, whereas the IXM division reported improved growth in the first quarter.
Comet Holding said that order intake came in at 144.9 million francs in the first quarter, a 22.3 percent growth from 118.5 million francs in the prior-year period. Higher demand from across all divisions led to a book-to-bill ratio of 1.4, the company added in an official statement.
Looking ahead, the company reaffirmed its outlook for fiscal 2026, predicting net sales and adjusted EBITDA margin to be significantly higher last year. With a strong order book, the company expects continued growth in net sales in the second quarter and the rest of the year.
On the Swiss Exchange. COTN.SW ended Monday's trading at 282.20 Swiss francs, up 0.79 percent.
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