Gurit Q2 2013 sales recover gradually from Q1 2013 level
 
Zürich, July 12, 2013. Gurit achieved in the first six months of 2013 net sales of CHF 129.7 million, a decline of 33.7% over the respective strong, prior-year period. This reflects the demand situation in the global wind energy market where overcapacities impact pricing and installation rates in China and where the USA have missed the 2012 levels by far. On the positive side, sales to non-wind energy related customers continue to grow. Also, total Q2 2013 sales grew by 13.1% compared with Q1 2013, confirming the anticipated sales recovery, yet at a lower than expected pace.
 

Gurit Composite Materials: In 1HY 2013, Gurit achieved net sales of CHF 109.1 million (1HY 2012: CHF 172.3 million) with customers in the traditionally supplied materials target markets of wind energy, aerospace and marine, and increasingly so in additional industrial markets. Sales to wind energy customers declined sharply given the lower demand from Asian and American markets as well as some postponements of European offshore projects. In contrast, Gurit achieved a 12.8% sales increase with material supplies for industrial and marine purposes while sales to aerospace and rail customers remained stable.

 

Gurit Composite Systems and Engineering: For 1HY 2013, Gurit reports net sales of CHF 20.6 million (1HY 2012: CHF 23.4 million) from engineering services and the manufacture of finished parts, systems and tools. Sales of finished automotive car body parts rose by 63.8% compared with HY1 2012, thanks to the delivery of larger parts series to an increased number of customers. Tooling sales increased 96% in Q2 2013 compared with Q1 2013, confirming first signs of recovery, while the aggregate 1HY 2013 sales level is 38.7% lower than in 1HY 2012.

 

Outlook: Due to the slower than anticipated demand recovery for composite materials and tooling equipment in the wind energy markets as well as some postponements of orders in Gurit Composite Systems and Engineering, the 1HY 2013 operating profit is now anticipated to be slightly above break-even. For the full year 2013, Gurit now expects net sales to fall somewhat below CHF 300 million and the operating profit margin to reach 3 to 5%.

 

Gurit will publish its half-year results as scheduled on August 23, 2013.

 

 

 

Net sales

YTD sales

Sales by quarter

in CHF 1000

1HY 2012

1HY 2013

Change in reported CHF

Change @ ytd 2013 transl.

Q3
2012

Q4
2012

Q1
2013

Q2
2013

WindEnergy

120’744

54’393

-55.0%

-55.3%

57’718

26’128

23’504

30’889

Aero

23’901

23’506

-1.7%

-2.8%

11’790

12’382

12’307

11’199

Industrial & Marine

27’621

31’158

12.8%

12.4%

14’438

15’494

17’111

14’047

Composite Materials

172’266

109’057

-36.7%

-37.2%

83’946

54’004

52’922

56’135

Automotive

4’201

6’881

63.8%

65.8%

3’383

4’480

3’123

3’758

Tooling

17’380

10’655

-38.7%

-39.8%

3’151

4’406

3’596

7’059

Engineered Structures

1’799

3’057

69.9%

70.4%

1’027

978

1’189

1’868

Composite Systems and Engineering

23’380

20’593

-11.9%

-12.9%

7’561

9’864

7’908

12’685

Total Group

195’646

129’650

-33.7%

-34.2%

91’507

63’868

60’830

68’820

 

 

For further information on Gurit: Markus Knüsli Amacker, CFO and Head Investor Relations, markus.knuesli@gurit.com, T +41 44 316 15 62, M +41 79 217 11 67