Gurit reports overall single digit growth in Q1-2018
- Net sales for Q1-2018 increase by 5.4% to CHF 92.1 million
- Gurit Annual General Meeting of Shareholders approves all proposals
Zurich, Switzerland, April 17, 2018–Gurit (SIX Swiss Exchange: GUR) today reports unaudited results for the first quarter of 2018. Net sales for the first three months of the year increased by 5.4% (currency-adjusted: +1.3%) against the prior-year period.
Gurit Composite Materials achieved net sales of CHF 62.9 million for the first quarter of 2018. This represents a decrease of 6.8% (currency-adjusted: -10.6%) compared to net sales of CHF 67.4 million for the first three months of 2017. The decline results from the continued low material demand level in the wind energy industries in India and China. Sales to other material markets, mainly marine and industrial, rose by 6% (currency-adjusted: +2.5%) compared to Q1-2017 and amounted to CHF 33.2 million for the first three months of 2018.
Gurit Composite Components revenues declined slightly as a consequence of temporarily lower build rates in one of the existing programs and the time gap until the start of volume production of new projects. Net sales amounted to CHF 4.5 million for the first quarter of 2018 versus CHF 4.8 million in the first quarter of 2017.
Gurit Tooling delivered another strong quarter with net sales increasing by 62.9% (currency-adjusted: +59.4%) to CHF 24.7 million in Q1-2018 compared to net sales of CHF 15.2 million in the first quarter of 2017. The strong performance results from the continued high demand for new and larger wind blade moulds for the production of increasingly efficient wind turbines.
Change in reported CHF
Change at constant rates
Materials, Wind Energy
Materials, Other Markets
Total Net Sales Group
Annual General Meeting of Shareholders
The Annual General Meeting held today at Pfaeffikon, SZ, approved all motions proposed by the Board of Directors. Gurit will thus pay out a total of CHF 20.00 per listed bearer share to shareholders.
Gurit bearer shares will be traded ex-dividend as from Thursday, April 19, 2018 (ex-dividend date). The positions entitled to dividend payments will be recorded on Friday, April 20, 2018 (record date), and the payments will be made on Monday, April 23, 2018 (payment date).
Gurit Half-Year 2018 Report
Gurit will publish its half-year report 2018 on August 17, 2018. Management will also discuss the results in further detail at a joint media and analyst conference on August 17, 2018, at 09:00 a.m. CEST. The conference will take place at 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.
For up-to-date information on Gurit`s financial calendar, please visit http://www.gurit.com/Investors/Events
The companies of Gurit Holding AG, Wattwil/Switzerland, (SIX Swiss Exchange: GUR) are specialized 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, 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, Hungary, Italy, Spain, the Netherlands, the U.K., Poland, Canada, the U.S.A., Ecuador, New Zealand, India and China. For more information, please visit www.gurit.com
Gurit Group Communications
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To the extent that this announcement contains forward-looking statements, such statements are based on assumptions, planning and forecasts at the time of publication of this announcement. Forward-looking statements always involve uncertainties. Business and economic risks and developments, the conduct of competitors, political decisions and other factors may cause the actual results to be materially different from the assumptions, planning and forecasts at the time of publication of this announcement. Therefore, Gurit Holding AG does not assume any responsibility relating to forward-looking statements contained in this announcement.