Gurit has reported net sales of CHF 576.4 million for the full year 2019, a currency-adjusted increase of 38.6% compared to 2018. The company also achieved an operating profit of CHF 51.9 million (9.0% of net sales) and net profit of CHF 34.9 million in 2019.
The company said that it experienced solid growth across all its business units, except for Tooling, which saw a softer second half year 2019.
Composite Materials increased its net sales by 12.8% year-on-year from CHF 221.3 million in 2018 to CHF 249.5 million in 2019, while Kitting reported net sales of CHF 190.7 million.
While Tooling’s net sales decreased by 10.5% to CHF 106.1 million in 2019 compared to net sales of CHF 118.5 million in 2018, Aerospace reported net sales of CHF 53.5 million, an increase of 7.3%.
The company’s Composite Components business reported net sales of CHF 18.1 million in 2019, compared to net sales of CHF 14.7 million in 2018.
‘Gurit expects a single-digit organic revenue growth to CHF 600 million in 2020,’ the company said in a press release. We further expect to achieve an operating profit in the range of 8.5–11.0% for the fiscal year 2020. […] The operating profit guidance provided assumes a negative effect of the corona virus triggered business interruption in China in the month of February. If the business impact lasts longer, the effect on sales and operating profit margins would be more severe.’
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.