Gurit has reported net sales of CHF428.5 million for the first nine months of 2019, an increase of 45.1% over net sales of CHF 295.3 million in the first nine months of 2018.
The company’s Composite Materials business reported net sales of CHF 185.4 million for the first nine months of 2019, an increase of 14.5% over the same period in 2018.
Net sales of Gurit’s Kitting business was CHF 127.1 million, while Tooling saw net sales of CHF 90.3 million, representing an increase of 1.2%, According to the company, during the second half of 2019 Gurit Tooling will see a lower demand mainly due to new customer projects being re-timed into 2020.
Aerospace achieved net sales of CHF 41.3 million for the first nine months of 2019, an increase of 9.2% (currency-adjusted 11.5%) over the previous year period, while Gurit’s discontinued Composite Components business reported net sales of CHF 13.1 million for the first nine months of 2019, translating into a growth of 38.8%.
‘For 2019 Gurit now expects to achieve above CHF 550 million in net sales (previously CHF 525 million) and an Operating Profit Margin within the upper half of the target range of 8–10% (unchanged),’ the company said in a press release.