Ready for the next growth phase.

In 2025, Comet made solid progress in a still-challenging environment. While the semiconductor cycle showed early signs of recovery, geopolitical tensions, tariffs and trade restrictions continued to weigh on global markets. In response, we maintained strict cost discipline, practiced prudent capital allocation and focused on execution, while continuing to invest in the foundations of sustainable long-term growth.

Long-term demand in the semiconductor industry will be driven by powerful structural trends rather than short-term cyclical movements. Advances in artificial intelligence, high-performance and edge computing, together with the continued digitalization of industrial applications, are accelerating the need for increasingly sophisticated semiconductor solutions. Beyond boosting computing capabilities, these technologies are enabling new use cases, including autonomous applications and next-generation connectivity. While the upturn has so far been driven by AI-related applications, 2026 is expected to mark the start of a broader memory supercycle extending across other chip segments.

Although the industry continues to experience cyclical volatility, the structural outlook for the semiconductor market remains favorable. Global demand is forecast to expand over the long term, supported by continued technological progress. Innovations such as advanced packaging, AI-focused computing solutions and more energy-efficient chip designs are set to open new applications and growth opportunities.

In 2026, the global economic environment is expected to remain uneven, with continued geopolitical tensions and trade-related uncertainties weighing on business confidence. While some regions should see improving conditions, volatility is likely to persist.

For the semiconductor industry, 2026 is projected to represent a more constructive phase, supported by renewed investment in advanced logic, memory and emerging applications such as artificial intelligence and advanced packaging. Customers’ focus on efficiency, reliability and compliance continues to underline the importance of safe and high-performance fab operations.

Against this backdrop, Comet will remain agile and focused on disciplined execution. By aligning its portfolio with customer needs and closely monitoring market developments, the Group is well positioned to navigate uncertainty while pursuing sustainable growth and long-term value creation.

To remain competitive in a rapidly evolving market, Comet has made significant investments across its divisions. In PCT, the new Synertia platform strengthens technology and customer value, while IXS expanded its portfolio with the CA20 x-ray system. IXM investments are already delivering benefits. Comet has also expanded in Asia in step with semiconductor growth, with a new production site in Penang that builds on the Group’s Malaysian presence since 2021.

These investments support the accelerating digital transformation and rising industry complexity. By investing early in advanced platforms and digital capabilities, Comet is well placed to support customers and capture growth. With differentiated technologies in plasma control and x-ray inspection, the company stands to benefit from higher complexity, replacement demand and sustained semiconductor investment.

In 2026, the transition to GAA at the 2-nanometer node and AI-driven investment in logic and memory are increasing process complexity, driving demand for high-performance components and supporting a favorable outlook for specialized suppliers.

Front-end investments in GAA, HBM and advanced DRAM are boosting tool intensity, thus benefiting PCT’s RF generators, matching networks and vacuum capacitors. In the back end, advanced packaging for AI is raising quality requirements, thereby strengthening demand for IXS x-ray and CT solutions, while higher inspection standards also support IXM.

Alongside these opportunities, Comet is executing a company-wide efficiency program to simplify processes, improve scalability and structurally reduce costs. Together with disciplined capital allocation, this is expected to strengthen profitability as semiconductor investment improves.

Amid economic and geopolitical change, Comet refined its focus strategy, positioning the company to capture new opportunities, accelerate growth and sustainably improve profitability into 2026 and beyond.