Gurit increases 9-month sales to CHF 269.2 million
 
Zurich, Switzerland, October 20, 2015 – Gurit (SIX Swiss Exchange: GUR) reports net sales of CHF 269.2 million for the first nine months of 2015. This represents an increase of 7.4% in reported Swiss francs or a 10.3% rise on a 2015 currency adjusted base over net sales of CHF 250.7 million for the first nine months of 2014.
 

Gurit Composite Materials

The business unit Composite Materials benefited from sound demand in the wind energy industry and the Company`s position in the global core material value chain. Net sales for advanced composite materials increased by 6.1% in reported Swiss francs (currency adjusted: 10.7%) to CHF 205.3 million in the first nine months of 2015 compared with net sales of CHF 193.6 million in the first nine months of 2014. Sales to the wind energy industry amounted to CHF 116.3 million in the first nine months of 2015 (+17.4%). Sales to other material markets (Marine, Aerospace, Industrial, Automotive Materials, and Ballistics) totaled CHF 89 million in the nine-month 2015 period, -5.8% (currency adjusted: -1.7%) weaker than in the first nine months of 2014.

 

Gurit Composite Components

The business unit Composite Components (automotive components, bus parts, and structural engineering) reported sales of CHF 20.8 million for the first nine months of 2015 as compared with CHF 21.1 million in the first nine months of 2014. This represents a decrease of -1.7% in reported Swiss francs or a 0.8% increase on a currency adjusted basis. Reduced sales volumes in Q3-2015 compared to Q1/Q2 of 2015 are related to the timing of phase out of some programs and new programs not yet fully deployed.

 

Gurit Tooling

The business unit Tooling (wind blade moulds and related equipment) increased sales to CHF 43.1 million for the first nine months of 2015 as compared with sales of CHF 36.1 million for the first nine months of 2014. This represents an increase of 19.6% in reported Swiss francs and a currency adjusted rise of 13.3%.

 

 

Net sales

First 9 months

Sales by quarter

in CHF 1000

2014

2015

Change in reported CHF

Change at ytd 2015 transl.

Q1-2015

Q2-2015

Q3-2015

Wind Energy

99’073

116’320

17.4%

22.6%

35’785

39’764

40’771

Other Material markets

94’485

89’007

-5.8%

-1.7%

31’488

29’555

27’964

Composite Materials

193’558

205’327

6.1%

10.7%

67’273

69’319

68’735

Composite Components

21’132

20’763

-1.7%

0.8%

7’526

7’386

5’851

Tooling

36’051

43’125

19.6%

13.3%

14’481

11’801

16’843

GURIT GROUP

250’741

269’214

7.4%

10.3%

89’280

88’506

91’429

 

For the full year 2015, Gurit confirms its expectation to generate net sales of around CHF 350 million and an operating profit margin within the Company`s reported mid-term target of eight to ten percent.