Gurit reports stable 2016 net sales and a 14% increase in operating profit margin
 
Zurich, January 27, 2017 Gurit (SIX Swiss Exchange: GUR) today reported preliminary and unaudited net sales of CHF 352 million for the full year 2016 (FY 2015: CHF 359 million), a decrease of 2.1% in reported Swiss francs. On a currency-adjusted basis, stable net sales of CHF 359 million were achieved for the full year 2016, representing an increase of 0.3% versus 2015. Gurit improved the operating profit margin by 14 percentage points to 10.5% of net sales in 2016 compared to 9.2% of net sales in 2015.
 

Gurit`s Composite Materials Business achieved mixed results in its various market areas. In Wind, it suffered from a ca. 25% decline in demand from lower installation rates in the wind energy industry in China compared to a record year 2015. Equally, the European Marine leisure market saw project delays which could not be fully offset by the positive double digit growth in the aerospace business. In total, net sales in the Composite Materials Business decreased by 3.0% (currency-adjusted: -1.6%) year-on-year from CHF 274.0 million in 2015 to CHF 265.6 million in 2016.

Gurit`s Composite Components Business as anticipated further declined by 34.3% (currency-adjusted: -27.9%) from CHF 26.4 million in 2015 to CHF 17.4 million in 2016. The decrease results from the orderly end of contracts over the course of 2015.

 

Gurit`s Tooling Business was able to report yet another record year. Net sales increased by 16.9% (currency-adjusted: 21.8%) to CHF 69.0 million in 2016 compared to net sales of CHF 59.0 million in 2015.

 

 

Net sales

Full year

Sales by quarter

in MCHF

2015

2016

Change in rep. CHF

Change @ ytd 2016 transl.

Q1 2016

Q2 2016

Q3 2016

Q4 2016

Wind Energy

155.4

149.0

-4.1%

-2.9%

33.7

39.8

39.1

36.4

Other Material Markets

118.6

116.6

-1.6%

0.0%

32.7

29.8

30.1

24.0

Composite Materials

274.0

265.6

-3.0%

-1.6%

66.4

69.6

69.2

60.4

Composite Components

26.4

17.4

-34.3%

-27.9%

5.0

4.4

3.3

4.7

Tooling

59.0

69.0

16.9%

21.8%

16.3

20.5

18.0

14.2

Total Group

359.4

352.0

-2.1%

0.3%

87.7

94.5

90.5

79.3

 

 

Online publication of Annual Report 2016, Media/Analyst conference and international Webcast on Wednesday, March 8, 2017

Gurit will report its 2016 full-year results on March 8, 2017, by issuing a press release at 07.00 a.m. CET and publishing its Annual Report 2016 online at http://www.gurit.com/Investors/Reports.

Management will also discuss the results in further detail at a joint media and analyst conference in Zurich on March 8, 2017, at 08:30 a.m. CET. This year, the conference will take place at a different venue: The Zurich Marriott Hotel, Neumuehlequai 42, CH-8006 Zurich. As always, the presentations will be held in English and will also be accessible as webcast at http://www.gurit.com/Investors/Webcasts where an archived version will later be available for download. Please sign up for the live event by returning the enclosed registration form.