Gurit says that its unaudited net sales for the first half of 2021 were CHF 258.6 million, a decline of 8.5% compared to the same period in 2020.
According to the company, 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. However, marine and industrial markets have rebounded to pre-Covid-19 levels and aerospace has stabilized at low levels. Gurit said.
Composite Materials achieved net sales of CHF 118.2 million for the first half of 2021, a decrease of 12.9% at constant exchange rates compared to the first half of 2020, while Kitting recorded net sales of CHF 95.2 million, a decrease of 13.7%. Gurit reports that it plans to relocate its entire Kitting operation from the US to Mexico.
Aerospace net sales in the first half of 2021 amounted to CHF 14.2 million, a decline by 23.7% at constant exchange rates compared to the first half of 2020. However, Tooling saw an increase in first half of 2021 net sales by 19.6% at constant exchange rates compared to the first half of 2020 to CHF 55.4 million.
‘For the year 2021, Gurit expects a revenue of around CHF 500 million and an operating profit margin of around 8% including restructuring charges,’ the company said. ‘Adjusted for these one-time charges operating profit continues to be expected in the range of 9-11%. The perspectives for renewable wind energy remain positive.’
This story uses material from Gurit, with editorial changes made by Materials Today.
