Gurit reports 15.4% higher net sales of CHF 287.2 million for the first 9 months of 2012 over the same prior-year period, driven by a strong progression in Wind Energy, Automotive and Marine sales.
The recently reduced outlook in the Wind Energy market, especially in the US and China forces Gurit to adapt its production capacity. Gurit therefore mothballs its prepreg production in Canada and China and reduces its global workforce by some 150 employees. The related restructuring costs, including impairment charges for fixed assets, mainly, are estimated to amount to approximately CHF 12 million, of which some CHF 3 million will be cash effective. Net sales for the full year 2012 are expected to be around CHF 355 million and the full year operating profit margin including all restructuring charges is forecast to be in the range of 2 to 4% of net sales. For 2013, Gurit expects significantly lower sales to the Wind Energy market.
The recently reduced outlook in the Wind Energy market, especially in the US and China forces Gurit to adapt its production capacity. Gurit therefore mothballs its prepreg production in Canada and China and reduces its global workforce by some 150 employees. The related restructuring costs, including impairment charges for fixed assets, mainly, are estimated to amount to approximately CHF 12 million, of which some CHF 3 million will be cash effective. Net sales for the full year 2012 are expected to be around CHF 355 million and the full year operating profit margin including all restructuring charges is forecast to be in the range of 2 to 4% of net sales. For 2013, Gurit expects significantly lower sales to the Wind Energy market.
