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Gurit’s half year results impacted by weak wind energy demand

News International-French

23 Aug 2013

Gurit achieved net sales of CHF 129.7 million in the first six months of 2013.

This represents a decline of 33.7% over the respective strong, prior-year period, as already announced and commented on July 12, 2013. The negative sales trend mainly reflects the poor demand and weak price levels in the volatile global wind energy market. Sales to non-wind energy related customers continue to grow and Gurit makes important inroads into new applications for composite materials, parts and services. For the full year 2013, Gurit continues to expect net sales to be somewhat below CHF 300 million and the operating profit margin to reach 3-5%.

Sales trends and outlook
Sales to non-wind energy related customers continue to grow and Gurit makes important inroads into new applications for composite materials, parts and services. Going forward, Gurit will better be able to balance out the volatile sales levels in the global wind energy market and achieve growth.

On a sequential basis, Q2 2013 sales grew by 13.1% compared with Q1 2013, confirming the anticipated sales recovery, yet at a lower than expected pace.

More information:www.gurit.com