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Gurit maintains strong overall sales momentum in Q1

25 Apr '12

3 min read

Gurit Holding AG reports net sales of CHF 95.8 million for the first three months of 2012. This is an increase of 21% in reported CHF and 24% at constant March 2012 translation rates versus the first three months of 2011. Gurit also maintained the sales momentum compared with the strong last quarter of 2011. Gurit's operational EBIT margin was well within the guidance range of 8-10% for the first three months of 2012.

Wind Energy reports strong net sales of CHF 62.2 million for Q1 2012 (Q1 2011: CHF 43.9 million). This represents sales growth of 42% despite a very challenging market environment in China.

Higher demand for glass fibre prepreg in Europe, where all key customer operations run more steadily compared with the start of 2011, and major carbon fibre prepreg shipments to the Americas more than offset the significant contraction experienced in the core material demand in China. Gurit expects the Chinese market to gradually recover during 2012 and 2013. The market in the Americas is presumed to remain strong up to the fourth quarter 2012. The ongoing uncertainty regarding the financial support for Wind Energy in the US, will likely lead to a market contraction in 2013.

Tooling reports very low net sales of CHF 3.8 million for Q1 2012 (Q1 2011: CHF 6.9 million). This decline of -46% primarily reflects the Chinese market situation. International projects also showed certain delays at the start of the year but are now recovering strongly. For the second quarter, Gurit expects a strong sales increase and fully loaded operations.

Transportation achieved net sales of CHF 14.2 million in Q1 2012 (Q1 2011: CHF 14.5 million), a slight decline of 3% due to unfavorable currency translation rates. The successful continuation of all existing material supply contracts for Airbus aircraft for 2012 and beyond creates an ongoing stable base for the business. The growing sales momentum in the automotive parts business is expected to generate additional, profitable sales growth during 2012.

Marine achieved 18% higher net sales of CHF 14.5 million in Q1 2012 (Q1 2011: CHF 12.4 million; adjusted for the transfer of the Engineering activity to Engineered Structures) in a gradually recovering market. Especially the European and the US markets showed ongoing positive trends at the start of the year. New carbon fibre prepreg deliveries to a major additional customer, momentum in core material sales and higher material demand for infrastructure projects should lead to a further positive development in the coming quarters.

Gurit Holding AG

Construction Textiles

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Gurit maintains strong overall sales momentum in Q1

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