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Gurit reports net sales growth of 2.7% for the calendar year 2023
Gurit (SIX Swiss Exchange: GURN) today reports preliminary and unaudited net sales of CHF 459.9m for the full year 2023. Net sales of continued operations increased 2.7% at constant exchange rates and declined -5.9% in reported CHF versus prior year. Excluding acquisition effects, total Group Sales grew by 2.6% at constant exchange rates and declined 6.8% in reported CHF. The large negative FX impact happens as almost no products or services are invoiced in Swiss Francs. The top line in the 4th quarter was also negatively influenced by raw materials price decreases, passed one to one to customers, for example for carbon fibers: this trend is expected to increase significantly…
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Gurit Announced as Finalist in JEC Composites Innovation Awards 2024
Gurit (SIX Swiss Exchange: GURN) proudly announces its nomination as a finalist for the JEC Composites Innovation Awards 2024, in the Maritime Transportation and Shipbuilding category. In partnership with Emirates Team New Zealand (ETNZ) and McConaghy Boats, Gurit’s advanced composite materials and structural engineering helped to pioneer the revolutionary hydrogen powered chase boats for America’s Cup teams. Gurit’s collaboration with ETNZ, the driving force behind the introduction of zero-emission vessels for the America’s Cup, along with McConaghy Boats, represents an exceptional synergy of expertise. ETNZ undertook the detailed design, naval architecture, foils, systems integration, and software development, while Gurit Composite Engineers used FEA model optimization to help develop a lightweight,…
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Gurit receives gold award for sustainability performance
Gurit (SIX Swiss Exchange: GURN) has been awarded a gold medal for its sustainability performance from EcoVadis, one of the world’s largest and most trusted sustainability rating agencies. This places Gurit in the top 5% of all EcoVadis-rated companies globally. The EcoVadis assessment evaluates 21 sustainability criteria across four core themes: Environment, Labor & Human Rights, Ethics and Sustainable Procurement. More than 85,000 companies globally have been rated by EcoVadis. EcoVadis’ business sustainability ratings are based on international sustainability standards such as the Ten Principles of the UN Global Compact, the International Labor Organization (ILO) conventions, the Global Reporting Initiative (GRI) standards and the ISO 26000 standard. The ratings provide…
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Gurit announces major long-term supply contracts with two leading wind OEMs
Gurit (SIX Swiss Exchange: GURN) today announces a four-year and a three-year supply contract for core material kits which have been secured with two of the world’s leading Wind Turbine OEMs. The contracts are expected to deliver a combined net sales of approx. CHF 375 million over the contract period. The four-year contract is a continuation of an existing supply agreement enabling Gurit to supply a significant share of the customers global demand of core material kits. It contains volume agreements for Europe, Asia and Americas and is expected to deliver net sales of approx. CHF 245 million over the contract period, depending on the OEM’s demand situation. The three-year…
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Gurit reports net sales of CHF 352.5 million in the first nine months of 2023
Gurit (SIX Swiss Exchange: GURN) today reports unaudited sales results for the first nine months of 2023 at CHF 352.5 million, which is an increase of 6.0% at constant exchange rates or –2.8% in reported CHF compared to 2022. Excluding acquisition effects, total Group Sales grew by 5.8% at constant exchange rates. Wind Energy remains the most important market segment for Gurit. While some regions show cautious signs of recovery, the overall wind industry environment remains highly volatile. Marine and other industrial markets performed well, driven by an increase in demand for PET structural foam for industrial applications. Still, we see indications of lower demand in certain Marine markets. Composite…
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Gurit Financial Calendar 2024
Gurit (SIX Swiss Exchange: GURN) today published its financial calendar for the calendar year 2024. Preliminary and unaudited 2023 net sales results will be communicated on Wednesday, January 31, 2024 after 6:00 p.m. CET by means of a media release. Gurit will report its 2023 full-year results on Monday, March 4, 2024, by issuing a media release at 07:00 a.m. CET. The Annual Report 2023 will be available on Gurit’s website at www.gurit.com/financial-reports-and-presentations/. Management will also discuss the results in further detail at a joint media and analyst conference on March 4, 2024 at 09:00 a.m. CET. The conference will be held in English and will be accessible as a webcast via the following link: www.gurit.com/webcasts/. The 2024 Ordinary Annual General Meeting of…
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Gurit reports solid net sales of CHF 244.6 million in the first half of 2023 and an improved profitability
Gurit (SIX Swiss Exchange: GURN) today reports unaudited net sales for the first half of 2023 at CHF 244.6 million, which is an increase of 12.8% at constant exchange rates or 4.2% in reported CHF compared to the first half of 2022. Furthermore, Gurit acquires the remaining 40% share of the Structural Profiles business and announces an organizational change in the Board of Directors. Excluding acquisition effects, total Group sales grew by 8.6% at constant exchange rates. The Western Wind market shows cautious signs of recovery, as our customers order new blade moulds which we expect to translate into material sales in due course while the Chinese Wind market performs solidly, albeit remains very competitive. Marine and…
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Gurit reports net sales of CHF 117.4 million in the first quarter of 2023; Annual General Meeting approves all agenda items
Gurit (SIX Swiss Exchange: GURN) today reports unaudited sales results. Net sales of Continued Operations in the first quarter of 2023 reached CHF 117.4 million, an increase of 26.6% at constant exchange rates or an increase of 18.9% in reported CHF versus the first quarter of 2022. Adjusted for the divestment of the Aerospace business and the acquisition of Fiberline, net sales declined by 3.0% at constant exchange rates for the first quarter year-on-year. After a slow beginning of the year, Gurit sees a stable upwards trend during the first three months of 2023. We expect ongoing growth in the Marine and Industrial markets, further growth in the Chinese wind market…
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Gurit Reports Net Sales of CHF 499.5 million and an Operating Profit Margin of 4.5% for 2022
Net Sales 2022 of CHF 499.5 million Operating profit margin at 4.5% of net sales and 2.3% adjusted for one-off items Gurit (SIX Swiss Exchange: GURN) today reported net sales of CHF 499.5 million for the full year of 2022. Gurit reached an Operating Profit of CHF 22.3 million with a margin of 4.5% of net sales. Adjusted for one-off items, the operating profit was CHF 11.2 million or 2.3% of net sales. Net profit amounted to CHF 9.1 million in 2022. Gurit saw its net sales increase by 11.9% at constant exchange rates or 6.7% in reported CHF versus prior year and Continued Operations grew by 11.6% in reported…
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Gurit reports net sales of CHF 499.5 million for the calendar year 2022
Gurit (SIX Swiss Exchange: GURN) today reported preliminary and unaudited net sales of CHF 499.5 million for the full year 2022. Net sales of Continued Operations were CHF 488.6m which is an increase of 17.0% at constant exchange rates or 11.6% in reported CHF versus prior year. Adjusted for the acquisition of Fiberline and the divestment of the Aerospace business, sales declined 8.0% at constant exchange rates. In 2022 Gurit net sales were impacted by a reduced demand of Western wind customers, mainly driven by lower US market momentum, slow permitting and delayed wind park projects as well as Western wind turbine manufacturers consolidating their activities and exiting certain regions.…
