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Introduction
COMET is a leading provider of state-of-the-art systems, providing high added value for its customers and their companies. Their products include components, e-beam and RF-Technologies. COMET’s mission is to help optimize the products and processes of its customers worldwide. To achieve this, it has developed a number of advanced products and procedures. COMET’s business concept is built around two products: COMET and YXLON; both enjoy an excellent reputation in the market. The product group COMET comprises Modules & Components, while the product group YXLON includes more complex solutions, systems, and software.

Strengths and weaknesses analysis / Fundamental analysis:  
Strengths:       

• Amongst Swiss industrial enterprises, COMET has one of the best and most promising product portfolios. The products are expected to provide superior growth figures for the next decade, 
• The development of the e-beam system is progressing well and its commercialization is expected to help achieve the company’s growth objective (10-fold increase),  
• The company has a target EBITDA-margin of 15% for 2017,
• The present share price includes only a small portion of the future growth potential. The share is currently trading without any premium compared to other Swiss industrial enterprises. 
• The company is strategically well located in 3 continents (Europe, USA, and Asia).   

Weaknesses:

• COMET is little known to the greater public, hence the security may lack liquidity on certain days, 
• The future of e-beam depends primarily on a close collaboration with Tetra-Pak. 

Investment opportunity / Portfolio management:
Operational risks:                     Medium to high
Expected growth:                     Well above average
Investment orientation:          Group « Best-in-Class », Swiss Small and Mid-Cap