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Gurit reports net sales 2021. A single share structure and share-split are proposed to the AGM
Ad hoc announcement pursuant to Art. 53 LR Gurit (SIX Swiss Exchange: GUR) today reported preliminary and unaudited net sales of CHF 467.9 million for the full year 2021. This is a decline of -19.8% at constant exchange rates or -18.9% in reported CHF versus prior year. The Board of Directors of Gurit Holding AG is proposing to the Annual General Assembly a share split and the introduction of a single share structure, as a measure to further strengthen the company’s Corporate Governance and ESG performance. Gurit saw its 2021 net sales impacted by a globally reduced demand for wind blades and by a decreasing demand and price of…
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Gurit nominates Andreas Evertz as candidate for its Board of Directors
Gurit (SIX Swiss Exchange: GUR) has today announced that Andreas Evertz will be proposed for election as Member of the Board of Directors at the Annual General Meeting on 20 April 2022. Andreas Evertz is a German citizen and has been the CEO of the wind turbine systems supplier Flender since 2020, with previous roles as CEO and President in global industrial companies such as Schenck Process Holding GmbH, Sandvik Machining Solutions and Walter AG. Born in 1969, he holds a mechanical engineering degree from the University of the German Federal Armed Forces in Hamburg. It is proposed that Andreas Evertz will join the Board of Directors following the departure of…
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Gurit (SIX Swiss Exchange: GUR) has published its financial calendar for the fiscal year 2022 today
Preliminary and unaudited 2021 net sales results will be communicated on January 31, 2022 after 5:40 p.m. CET by means of a media release. Gurit will report its 2021 full-year results on March 1, 2022 by issuing a media release at 07:00 a.m. CET. The Annual Report 2021 will be available on Gurit’s website at www.gurit.com/Investors/Reports. Management will also discuss the results in further detail at a joint media and analyst conference on March 1, 2022 at 09:00 a.m. CET. The conference will be accessible as a webcast via the following link: www.gurit.com/Investors/Webcasts The 2021 Ordinary Annual General Meeting of Shareholders (AGM) is scheduled to take place on April 20,…
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Gurit reports net sales of CHF 360.9 million in the first nine months of 2021
Gurit (SIX Swiss Exchange: GUR) reports net sales of CHF 360.9 million for the first nine months of 2021. This is a decline of -17.6% at constant exchange rates or -16.6% in reported CHF versus prior year. Gurit finished the third quarter with net sales impacted by a globally reduced demand for wind blades and by a decreasing demand and price of balsa, compared to a very strong previous year period. Both the Marine and Industrial markets as well as Aerospace have picked up double digit growth rates in the third quarter compared to prior year. Composite Materials achieved net sales of CHF 169.2 million for the first nine months…
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Gurit reports net sales of CHF 258.6 million in the first half of 2021
Gurit (SIX Swiss Exchange: GUR) today reports unaudited sales results for the first half of 2021. Net sales for this period were CHF 258.6 million which is a decline of -8.5% at constant exchange rates or -8.0% in reported CHF versus prior year. As expected, net sales in the first half year were impacted by a temporarily reduced demand for wind blades in China in 2021 as a result of the expiry of the Chinese wind feed-in tariffs by year-end 2020, and by an accelerating decrease in balsa demand and price. The Marine and Industrial markets have rebounded strongly to pre-COVID-19 levels and Aerospace has stabilized at low levels. Composite…
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Gurit updates the financial outlook for 2021 and announces organizational changes to strengthen its positioning as solution provider to the wind turbine industry
Gurit (SIX Swiss Exchange: GUR) today announces an updated financial outlook for 2021 as a result of the temporarily reduced demand for wind blades in China and the accelerating decrease in balsa demand. Gurit initiated corresponding restructuring and relocation measures. Furthermore, Gurit will adapt its organization to strengthen the positioning as an innovative, customer-focused solution provider to the wind turbine industry. Outlook Gurit is updating its financial outlook for the year. The company now does not expect a recovery of the Chinese wind energy market before 2022. It also experiences an accelerated decline in demand for balsa wood and other non-PET core materials. For the year 2021, Gurit expects a…
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Gurit extends contract with Pilatus Aircraft Ltd for five years
Gurit (SIX Swiss Exchange: GUR) announces a five-year materials supply contract extension with the Swiss manufacturer Pilatus Aircraft Ltd. The agreement is a continuation of a long-standing partnership and is expected to generate double digit million CHF net sales over the 2021-2025 period. The contract covers the delivery of Aerospace-qualified prepregs for secondary structures and interior applications in a variety of aircraft models, including the PC-24 Super Versatile Jet. “The extension of our existing partnership is the result of our team’s ability to deliver consistently high quality over more than 15 years and it also demonstrates the resilience of the industry. This contract is an encouraging sign for our Aerospace…
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Gurit reports net sales of 127.7 million CHF in Q1/2021
Gurit (SIX Swiss Exchange: GUR) today reports unaudited sales results for the first quarter of 2021. Net sales for this period were CHF 127.7 million which is a decline of -4.8% at constant exchange rates or -5.2% in reported CHF versus prior year. Sales in the lightweighting business declined mainly due to the Aerospace business while Marine and Industrial has recovered to pre-COVID-19 levels. The Wind business was overall flat and benefitted from strong results in Tooling. Net sales in the first quarter were impacted by a temporarily reduced demand for wind blades in China in 2021 as a result of the expiry of the Chinese wind feed-in tariffs by…
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Gurit Reports Net Sales Growth for Continued Operations of 3.3% in CHF and 8.9% at constant exchange rates and an Operating Profit Margin of 11.2% for Fiscal Year 2020
Gurit (SIX Swiss Exchange: GUR) today reported net sales of CHF 578.8 million for the full year 2020. Gurit achieved an operating profit of CHF 64.6 million (11.2% of net sales) and net profit amounted to CHF 46.6 million in 2020. Gurit reports sales growth of 3.3% in reported CHF and 8.9% at constant exchange rates for its Continued Operations, despite the effects of the global COVID-19 pandemic. This is largely due to the continuously strong wind energy market and the solid position Gurit has within this sector. Composite Materials reported increased total sales with CHF 276.2 million (2019: CHF 249.7 million), a significant growth of 10.6% in reported CHF and a strong 16.1%…
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Gurit extends major wind core kit supply contract for three years
Gurit (SIX Swiss Exchange: GUR) announces a three-year core material kit engineering and supply contract with a major wind turbine manufacturer. The agreement is a continuation of a long-standing partnership with similar volumes and is expected to generate net sales of CHF 270-350 million over the 2021-2023 period. The contract will generate business for all ten kitting sites, including the new facilities being set up in India. Gurit Kitting will provide additional benefits with the reduction of the Total Cost of Ownership for the customer through innovative design solutions. “The extension of our existing partnership is the result of our team’s ability to deliver consistent high quality and builds on…
