Gurit (SIX Swiss Exchange: GUR) reports a 21.9% sales increase to CHF 250.7 million for the first nine months of 2014 compared with the 205.7 million reported for the same period of last year.
Group sales increased both for Gurit Composite Materials (+8.3%) and for Gurit Systems and Engineering (+16.4%) in the third quarter of 2014 compared with the same period of last year. The quarterly sales, however, did not reach the strong second quarter results.
Gurit Composite Materials reports a sales increase of 8.3% to CHF 64.8 million for the third quarter of 2014 compared with the same quarter of last year. Nine-month sales 2014 increased 14.6% to CHF 193.6 million, year-over-year. Compared with preceding second quarter, the third quarter 2014 material sales were, however, 4.2% lower, as theongoing sales growth in the Marine and Gurit’s new industrial markets and the strong sales increase in Gurit’s Balsa wood business could not fully compensate for the weakening demand for Gurit’s prepreg materials in the Wind Energy market of the Americas.
Gurit Composite Systems and Engineering reports a 16.4% increase to CHF 19.0 million for the third quarter of 2014 compared with the same period of last year. Nine-month sales rose 55.0% to CHF 57.2 million over the same prior-year period. These figures reflect a strong increase in the sale of finished car body parts (+36% compared with Q2 2014), largely driven by the higher factory output. The project driven demand for Tooling equipment did not reach the exceptionally strong second quarter levels, although remaining at a high level. Overall, third quarter 2014 sales recorded for Gurit Composite Systems and Engineering remained therefore 7.9% lower than the respective second quarter 2014 figures.
For the full year 2014, Gurit expects net sales in the range of CHF 330 million.