Gurit reports solid start to 2016

Gurit has reported net sales for Q1 2016 of CHF 87.7 million, a currency-adjusted decrease of 1% compared to Q1 2015.

Gurit Composite Materials achieved net sales of CHF 66.4 million for the first quarter of 2016, a decline of 1.3% (currency-adjusted: -1.0%) compared with net sales of CHF 67.3 million for the first three months of 2015. As anticipated, the wind energy market demand, in particular in China, was reduced. The positive sales development in the aerospace, marine and other material markets could not fully compensate the shortfall, the company reported.

Composite Components revenues declined according to expectation as a consequence of the communicated orderly project expiries in 2015 and a delayed volume production start. Net sales amounted to CHF 5.0 million for the first quarter of 2016 versus CHF 7.5 million in the first quarter of 2015.

Gurit Tooling was able to outperform its strong fourth quarter 2015 and increased net sales to CHF 16.3 million in Q1 2016. This represents an increase of 12.9% (currency-adjusted: 15.3%) compared with net sales of CHF 14.5 million achieved in the first quarter of 2015.

This story is adapted from material from Gurit, with editorial changes made by Materials Today. The views expressed in this article do not necessarily represent those of Elsevier.