Gurit has reported net sales of CHF 295.3 million for the first nine months of 2018. This represents a positive increase of 9.8% (currency-adjusted: +6.0%) over net sales of CHF 268.8 million generated in the first nine months of 2017. The business unit Composite Materials achieved net sales of CHF 157.2 million for the first nine months of 2018.
Net sales to the wind energy industry increased by 1.4% (currency-adjusted: -2.7%) to CHF 98.0 million for the first nine months of 2018 compared to CHF 96.6 million generated in the first nine months of 2017. Following months of lower core material supply to the global wind energy industry, demand and volumes picked up in the third quarter of 2018. The business unit Tooling reported net sales of CHF 89.3 million for the first nine months of 2018. The increase of 34.6% (currency-adjusted: +29.9%) resulted from multi mould programs as well as moulds with extra-long size for both, globally operating wind energy OEM`s and new customers. For the full year 2018, Gurit expects to achieve a high single-digit revenue growth. Operating profit margin for fiscal year 2018 is expected to come in at the mid-level of the Company`s target range of 8 to 10 percent operating profit margin. The recently acquired JSB Group is not reflected in this outlook.
