Solid performance for Gurit
Gurit offers a full range of composite materials to the marine industry
International composites supplier, Gurit, has reported a solid start for the first quarter of 2017 with sales up to CHF 87.4m, an increase of 3.6%.
Gurit Composite Materials achieved net sales of CHF 67.4m for the first quarter of 2017 representing an increase of 1.6% compared to net sales of CHF 66.4m for the first three months of 2016.
The wind energy market demand showed a slight rebound compared to the first quarter of 2016 and amounted to CHF 36.1m.
The marine and industrial sectors however, continue to perform slightly weaker than expected.
Gurit Composite Components revenues declined according to expectation as a consequence of the time gap between the orderly project expiries in 2015 and the start of newly won projects. Net sales amounted to CHF 4.8m for the first quarter of 2017 versus CHF 5.0 million in the first quarter of 2016.
The order intake in the Gurit Tooling business continues to be solid. Due to the cyclicality of the business, the first quarter of 2017 came in slightly lower than the prior year period. Net sales amounted to CHF 15.2 million representing a decrease of -7.2% compared to net sales of CHF 16.3m achieved in the first quarter of 2016.