Gurit's target markets are the wind energy, transportation, and marine sectors.
Total sales for the Gurit group fell 24% to CHF245.0 million for the first nine months of 2009.
Gurit reports that its Marine business is showing the first signs of stabilisation, with third quarter (Q3) 2009 sales in line with the 2009 second quarter (Q2). Its Transportation business recorded slightly increased Q3 2009 sales compared with the preceding quarter. Wind Energy sales in Q3 were mainly affected by lower demand as major customers closed for longer works vacation this summer.
Gurit expects to see some recovery in its Wind Energy sales during the fourth quarter (Q4) of 2009, but expects much lower sales by year-end compared with last year.
The company re-confirms its 2009 operational EBIT margin target of around 5%.
Gurit Holding AG (SIX Swiss Exchange: GUR), is headquartered in Wattwil, Switzerland. Its product range includes prepregs, structural foam, gel-coats, adhesives, resins and consumables, as well as certain finished parts.
Gurit's net sales (CHF million, unaudited). | | Jan-Sep 2008 (at Sep 2009 ytd translation rates) | Jan-Sep 2009 | +/-% | Jan-Sep 2008 |
| Group total | 322.3 | 245.0 | -24.0 | 354.5 |
| Target markets | 293.7 | 238.9 | -18.7 | 325.8 |
| Wind Energy | 182.9 | 160.0 | -12.5 | 203.4 |
| Transportation | 54.6 | 46.2 | -15.3 | 57.3 |
| Marine | 56.3 | 32.7 | -41.9 | 65.1 |
| Other | 28.6 | 6.1 | -78.5 | 28.7 |