In 2024, Gurit underwent a strategic transformation in response to volatility in the wind market and overcapacity in China. The company rebalanced its investments across markets and strengthened its presence in key marine and industrial sectors.
The Wind Materials segment reported net sales of CHF 285.6 million, a 3.4% decline at constant exchange rates compared to 2023. Despite industry-wide challenges, long-term agreements with key Western original equipment manufacturers (OEMs) helped Gurit maintain stability. The company optimised its global wind footprint by expanding some sites while closing others.
Manufacturing Solutions recorded a turnover of CHF 45.3 million, down 8.7% at constant exchange rates. The segment faced reduced demand from wind energy customers, particularly in early 2024, and delays in platform introductions in Western markets. However, Gurit expanded production in Chennai to meet rising domestic demand in India and entered new markets such as rotor sails for cargo ships.
For 2024, Gurit achieved an adjusted operating profit margin of 6.9%, up from 4.5% in 2023. However, including CHF 37.0 million in restructuring and impairment charges, the operating profit margin was -1.7%. Adjusted operating profit rose to CHF 29.7 million (2023: CHF 20.6 million), while the net result for 2024 was CHF -27.8 million (2023: CHF 4.0 million).
For 2025, Gurit expects an adjusted operating profit margin similar to 2024 levels, though discontinued operations may affect performance in the first half. Market uncertainties, including global tariff conflicts, prevent a reliable sales forecast. Beyond 2025, the company anticipates mid-single-digit growth in wind and high-single-digit growth in non-wind sectors, reaffirming its mid-term target of a 10% operating profit margin.
