Obermatt now runs a portfolio on Wikifolio. It is managed by Peter, Uwe and Hermann Stern, the CEO of Obermatt. The model portfolio was started with the acquisition of shares in Comet Holding. The company has two business divisions:
- Vacuum capacitors, which are needed for wafer production equipment in the chip industry.
- Non-destructive material testing with X-ray technology in the semiconductor/electronics, automotive and aerospace industries.
The team chose Comet for the following reasons:
- Management has achieved that the supply chain issues seen everywhere have so far remained without significant impact on the ability to deliver to customers.
- Full year 2021 guidance confirmed with sales between CHF 480 and 500 million and EBITDA margin between 18% and 20%.
- Comet recently confirmed its medium-term targets for 2025. Sales of over CHF 830 million are forecast for the 2025 financial year. The targets for EBITDA margin of 25% and return on capital employed (ROCE) of around 30% are also confirmed.
The Obermatt ranks for Growth and Safety are good. When it comes to Value, we have overlooked the relatively low rank as we are optimistic about the semiconductor sector and the company is well managed in our opinion.