Gurit has reported unaudited results for the first quarter of 2017 and net sales for the first three months of 2017 developed in line with expectations. Gurit Composite Materials achieved net sales of CHF 67.4 million for the first quarter of 2017. This represents an increase of 1.6% compared to net sales of CHF 66.4 million 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 36.1 million. 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 4.8 million 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, Q1-2017 came in slightly lower than the prior year period. Net sales amounted to CHF 15.2 million in Q1-2017. This represents a decrease of -7.2% (currency-adjusted: -3.3%) compared to net sales of CHF 16.3 million achieved in the first quarter of 2016.
