30/1/2015 Gurit reports strong sales growth for the full year 2014
Gurit`s Composite Systems and Engineering Business continued to show growth. Net sales increased by 46.9% from CHF 53.8 million in 2013 to CHF 79.1 million in 2014. Improved output of automotive exterior components as well as higher order intakes in Tooling from the wind energy business uptake in Asia were the main drivers for this significant improvement in 2014. Sales in the Engineered Structures business grew by 28.7% from CHF 6.1 million in 2013 to CHF 7.9 million in 2014 driven by the growth in demand for bus components.
Gurit has established itself as a developer and innovator in the composites industry and positioned itself as the leading global supplier of composite materials,engineering services, tooling equipment, and select parts and systems. Over 30 years experience in the practical application of composites across various market sectors and projects, from small parts to large-scale structures, combined with a unique technical approach enables Gurit to offer the complete composite solution.
Gurit Composite Materials can provide complete technical solutions drawing on a broad range of expertise in composite materials design, material development and materials application. This extensive knowledge has enabled the development of a leading range of products for a broad spectrum of applications. Gurit's Composites Materials business focusses on the Wind Energy, Transportation, Industrial and Marine markets as well as penetrating and developing emerging and new markets and applications for composite materials.
◾Group result: Net sales of CHF 335.8 million up 19.4% from CHF 281.1 million full year sales in 2013; operating profit expected to come in between 4 and 4.5% of net sales
◾Composite Materials: Full year sales of CHF 256.7 million increase by 13% from CHF 227.3 million full year sales in 2013
◾Composite Systems and Engineering: 46.9% increase in sales to CHF79.1 million compared with full year sales of CHF 53.8 million in 2013
Zurich, January 30, 2015 – Gurit (SIX Swiss Exchange: GUR) today reported preliminary and unaudited full year net sales of CHF 335.8 million representing an increase of 19.4% compared with net sales of CHF 281.1 million for the full year 2013. The favorable development essentially results from growth in the company`s Tooling and Automotive business as well as from positive demand for core materials.Looking at Gurit`s Composite Materials Business, demand in the Wind Energy business increased by 11.8% pulled by the markedly recovered Asian market. The ongoing technology change in wind blade production and the related lower demand for glass prepreg products could be fully compensated by stronger core material sales to Wind Energy customers and strong sales of carbon prepreg products to the American market. Material supply to other markets grew by 14.2% essentially due to strong deliveries to the Marine market, particularly in Europe. In total, net sales in the Composite Materials Business increased by 13% year-on-year from CHF 227.3 million in 2013 to CHF 256.7 million in 2014.
