Gurit reports strong growth in Q1 2019

Gurit says that its Q1 net sales grew 54.9% to CHF 142.7 million from Q1 2018 figures.

Composite Materials achieved net sales of CHF 53.5 million CHF for same period, an increase of 6.5%, while the company’s Wind business grew by 13.1% across all core material categories and in particular in polyethylene terephthalate (PET) and balsa. Gurit saw a strong market demand in Q1/2019 which is expected to continue throughout 2019.

Sales to other material markets decreased by 2.9% within which Marine grew mid-single digit while sales to Industrial markets sales were off to a slow start in 2019, the company said.

Kitting recorded solid sales of 34.4 million CHF in Q1/2019 but as the business has reported results only as of Q4 2018 within Gurit there is no comparison to the first quarter of 2018.

Tooling had a net sales growth of 45.9% to CHF 36.1 million while aerospace revenues saw a growth of 8.4% to CHF 14.3 million due to solid demand in Europe and growing demand in the US business, Gurit says. Composite Components had a 12.4% growth to CHF 4.5 million.

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