Net sales decrease for Gurit

Gurit has reported net sales of CHF 467.9 million for the full year 2021, a decrease of 19.8% at constant exchange rates or 18.9% in reported CHF versus prior year.

According to the company, sales were impacted by a globally reduced demand for wind blades and balsa, as well as a decreases balsa price, compared to a very strong previous year. However, marine and industrial markets have achieved double digit growth rates in the second half-year, compared to the same period of last year, Gurit said.

The company’s Composite Materials business reported net sales of CHF 221.8 million for 2021, a decline of 21.1% at constant rates compared to 2020, while Kitting recorded net sales of CHF 185.5 million for 2021, a decrease of 17.8% at constant exchange rates compared to 2020. Kitting net sales were also negatively impacted by the slowdown in wind blade manufacturing as well as lower material pricing, Gurit said.

Tooling reported net sales of CHF 73.2 million, a reduction of 28.3% compared to 2020. The second half of 2021 saw a weaker tooling market in general and particularly in China.

Aerospace reported net sales of CHF 30.1 million for 2021, a decrease of -5.3%. “While the business unit faced a sharp decline compared to pre-COVID-19 levels, sales trends continue to head in a positive direction with global aircraft OEMs increasing build rates,” the company concluded.

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