Gurit reports 4% higher gross sales of CHF 204 million for FY 2012 for the wind energy market.
Material sales to the wind energy market nearly came to a standstill in Q4 2012 in America due to the late extension of the production tax credits for renewable energies in the USA. They also suffered from a very low investment level, over-capacities, and price pressure in Asia. The reduced outlook in the Wind Energy target market led to restructuring measures, which impacted earnings negatively. Supported by the now renewed production tax credits in the US, Gurit expects the Wind Energy market to recover gradually from current levels during 2013. Gurit’s Composite Material business should also benefit in 2013 from further growing sales to other existing and new markets.
Material sales to the wind energy market nearly came to a standstill in Q4 2012 in America due to the late extension of the production tax credits for renewable energies in the USA. They also suffered from a very low investment level, over-capacities, and price pressure in Asia. The reduced outlook in the Wind Energy target market led to restructuring measures, which impacted earnings negatively. Supported by the now renewed production tax credits in the US, Gurit expects the Wind Energy market to recover gradually from current levels during 2013. Gurit’s Composite Material business should also benefit in 2013 from further growing sales to other existing and new markets.
