Comet's Q3 Results Show Decline Amid Market Challenges

In its recent trading update, Comet Holding AG reported a 9.4% decline in Q3 2025 net sales, totaling CHF 102.5 million compared to CHF 113.2 million the previous year. The year-to-date sales reached CHF 329.6 million, up 9% from last year. However, Q3 was impacted by reduced activity in the Plasma Control Technologies (PCT) division, mainly due to market uncertainties.

Other challenges included a weaker USD and tariffs. Strength in DRAM and Logic segments, driven by AI technologies, failed to offset declining consumer memory application orders. Despite these, positive signs emerged with increased orders and memory pricing improvements, suggesting potential market recovery.

Comet's x-ray sector remained strong in aerospace, security, and defense but faced challenges in the automotive market. The PCT division showed promise with the RFG Synertia, and the IXS division made advancements with the x-ray system CA20. Comet expects recovery in memory segments by 2026 while refining its 2025 sales and EBITDA guidance to the lower end of forecasts.