Gurit back to growth from the lows of the first half of 2013

Zürich, October 25, 2013. Gurit achieved net sales of CHF 205.7 million during the first nine months of 2013. While this reflects a decline of 28.3% over the respective prior-year period, Gurit continues its recovery from the disappointing first six months and grew its overall sales in Q3 by 10.6% over Q2. The recovery was achieved in all Composite Materials target markets, including Wind Energy, and boosted by a strong progression in sales of Tooling equipment.

Gurit Composite Materials: Gurit grew its materials business in Q3 2013 in all target markets: Sales to the Wind Energy industry continued to suffer from overcapacities in Asia and some project postponements in Europe, but have been very successful in the Americas. The Aerospace business recovered from a short temporary slowdown in Q2 2013. Sales to the Industrial and Marine market continued to progress positively, yet did not reach the high Q1 2013 levels which had been boosted by certain large projects. Overall, Gurit’s Composite Materials sales increased in Q3 2013 by 6.5% over Q2 2013 to CHF 59.8 million. For the first nine-months, sales still remained 34.1% below the strong, respective prior-year period.

Gurit Composite Systems and Engineering: During the first nine months of 2013, Gurit continued to successfully develop its business, achieving 19.3% higher revenues of CHF 36.9 million. Gurit’s Automotive exterior component business grew 36.5% year over year, although Q3 sales reflected a somewhat reduced customer activity over the summer months. Sales in Engineered Structures progressed by 65.9% thanks to large deliveries of composite components for buses. Sales of Tooling equipment increased by 6.5% over the first nine months 2012, driven by some large deliveries to non-Chinese customers in Q3. Compared with the preceding second quarter Composite Systems and Engineering sales increased by 28.5% during the reporting quarter.

Net sales	First 9 months				Sales by quarter
in CHF 1000	2012	2013	Change in reported CHF	Change @ ytd 2013 transl.	Q4 2012	Q1 2013	Q2 2013	Q3 2013
Wind Energy	178’462	86’448	-51.6%	-51.3%	26’128	23’504	30’889	32’055
Aerospace	35’692	36’106	1.2%	-0.1%	12’382	12’307	11’199	12’600
Industrial & Marine	42’059	46’293	10.1%	11.6%	15’494	17’111	14’047	15’135
Composite Materials	256’213	168’847	-34.1%	-33.8%	54’004	52’922	56’135	59’790
Automotive	7’583	10’353	36.5%	40.0%	4’480	3’123	3’758	3’472
Tooling	20’531	21’858	6.5%	5.4%	4’406	3’596	7’059	11’203
Engineered Structures	2’826	4’688	65.9%	69.1%	978	1’189	1’868	1’631
Composite Systems and Engineering	30’940	36’899	19.3%	19.4%	9’864	7’908	12’685	16’306
Total Group	287’153	205’746	-28.3%	-28.1%	63’868	60’830	68’820	76’096

For further information on Gurit: Markus Knüsli Amacker, CFO and Head Investor Relations, markus.knuesli@gurit.com, M +41 79 217 11 67

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On Gurit: The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Ex-change: GUR) are specialised on the development and manufacture of advanced composite materials, related technologies and select finished parts and components. The comprehensive product range comprises fibre reinforced prepregs, structural core products (man-made materials and balsa wood), gel coats, adhesives, resins and consumables. Gurit supplies global growth markets with composite materials on the one hand and composite tooling equipment, structural engineering and select finished parts on the other. The global Group has production sites and offices in Switzerland, Germany, the UK, Canada, Spain, Australia, New Zealand, the USA, Ecuador, Brazil, India and China.

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