Gurit reports sales increase for first half

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Compared with the second half of 2013, sales grew 10.2%, confirming the recovery started in summer 2013. Operating profit for the period improved to CHF 7.7 million or 4.6% of net sales.

In the first half of 2014, Gurit Composite Materials achieved 18.1% higher net sales of CHF 128.8 million (1HY 2013: CHF 109.1 million). Largely driven by the business with American and Asian customers, material sales to the wind energy market grew by 22.8% and thus recovered from of the contraction Gurit had faced during the first half of 2013. While the operating profit in Gurit Composite Materials is improving and achieved reasonable levels in the industrial, marine, and aerospace markets, it still holds significant upward potential in the wind energy business.

Gurit Composite Systems and Engineering generated 85.5% higher net sales of CHF 38.2 million in the first half of 2014. Sales of Tooling systems increased strongly by 136.3% to CHF 25.2 million. Sales generated with composite car body panels rose 31.7% to CHF 9.1 million. The deployment of Gurit’s new press technology for larger series of composite car parts developed as planned: 2014 saw the successful production of the first class-A, visual carbon car roofs using this innovative, more automated technology.

Engineered structures generated revenues of CHF 4.0 million, an increase of 29.8% over the first half of last year. During the reporting period, Gurit has transferred the manufacture of composite parts for commuter busses from the UK to its new production site in Hungary which is to be further developed into a production base for advanced composite components.