Gurit has announced its unaudited net sales results for the first nine months of 2024, totalling CHF 315.1 million—a decrease of 7.3% compared to 2023. The company has acknowledged that current wind market conditions are below expectations, prompting a review of its corporate strategy and the implementation of measures to enhance profitability and rebalance its portfolio.
Third-quarter revenues across all Wind Business Units were adversely affected by lower demand, as the anticipated increase in activity did not materialise. Wind materials recorded net sales of CHF 210.7 million for the first nine months, reflecting a decline of 6.1% year-on-year, driven by reduced blade volumes and lower core kit prices. Additionally, manufacturing solutions saw net sales of CHF 27.8 million, a decline of 26.2% compared to the same period last year. Despite low demand in Q3, Gurit is optimistic about a stronger order book for Q4.
The company also announced that Mitja Schulz, CEO, is leaving the company by mutual agreement. The Board of Directors has appointed Javier Perez-Freije, CFO, to serve as interim CEO effective immediately, while a search for a permanent successor is underway.
