Gurit grew sales in new businesses and markets in Q1 2013 but could not yet offset the slowly recovering wind energy demand
 

 

Zürich and Pfäffikon/SZ, Switzerland, April 9, 2013. Gurit achieved in the first three months of 2013 net sales of CHF 60.8 million. This represents a decline of 36.5% against the respective strong, prior-year period. The growing material sales into new industrial markets could not yet offset the shortfalls in sales to the wind energy market, which suffers from still very low activity in Asia and a slow recovery from the poor Q4 2012 levels in the USA. The Annual General Meeting of Shareholders held today at Pfäffikon/SZ confirmed all proposals formulated by the Board of Directors.

 

 

 

Composite Materials

Gurit achieved in Q1 2013 net sales of CHF 52.9 million (Q1 2012: CHF 89.6 million) with customers in the traditionally supplied materials markets of Wind Energy, Aerospace, Rail and Marine and the growing broad industrial market. Gurit achieved a 17.8% sales increase with material supplies for Industrial and Marine purposes; sales to Aerospace and Rail customers remained almost stable. Sales achieved in the Wind Energy market declined due to low demand in Asia, stable sales in Europe and the slow recovery in the USA where the production tax credits were only renewed at year-end 2012.

 

Composite Systems and Engineering

Gurit reports for Q1 2013 net sales of CHF 7.9 million (Q1 2012: CHF 6.2 million) from engineering services and the manufacture of finished parts, systems and tools. Sales of finished automotive car body parts made from carbon fibre prepregs rose by 126.6% compared with Q1 2012. Systems and components for other industries increased 12.6%. The demand for moulds for wind rotor blades is still very low.

 

Outlook

Gurit confirms its guidance for FY 2013 and continues to expect a sales level of around CHF 300 million and an operating profit margin exceeding 6% of sales.

 

Net sales
 by Target Markets

YTD sales

Sales by quarter

in CHF 1000

2012

2013

Change in repor-ted CHF

Change @ ytd 2013 transl.

Q2
2012

Q3
2012

Q4
2012

Q1
2013

Wind Energy

62’250

23’504

-62.2%

-62.5%

58’494

57’718

26’128

23’504

Aero & Rail

12’786

12’307

-3.7%

-4.7%

11’115

11’790

12’382

12’307

Industrial & Marine

14’524

17’111

17.8%

17.1%

13’097

14’438

15’494

17’111

Composite Materials

89’560

52’922

-40.9%

-41.4%

82’706

83’946

54’004

52’922

Automotive

1’378

3’123

126.6%

127.3%

2’823

3’383

4’480

3’123

Tooling

3’763

3’596

-4.4%

-5.5%

13’616

3’151

4’406

3’596

Engineered Structures

1’056

1’189

12.6%

12.2%

743

1’027

978

1’189

Composite Systems
and Engineering

6’197

7’908

27.6%

26.7%

17’182

7’561

9’864

7’908

Total Group

95’757

60’830

-36.5%

-37.0%

99’888

91’507

63’868

60’830

 

 

The Annual General Meeting held today at Pfäffikon/SZ approved all motions formulated by the Board of Directors: Gurit will thus pay out CHF 15.00 per listed bearer share out of reserves from capital contributions; this payment is exempt from withholding tax. Gurit bearer shares will be traded ex-dividend as from Thursday April 11, 2013 (ex-dividend date). The positions entitled to dividend payments will be recorded on Monday April 15, 2013 (record date) and the payments will be made on Tuesday April 16, 2013 (payment date). The Annual General Meeting re-elected Peter Leupp, Chairman, for another three-year term of office as Member of the Board of Directors.