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Gurit has reported net sales of CHF 428.5 million for the first nine months of 2019. This represents an increase of 45.1% over net sales of CHF 295.3 million in the first nine months of 2018. Excluding acquisition effects the growth was 9.9% over the previous year period.
The business unit composite materials reported net sales of CHF 185.4 million for the first nine months of 2019. This is an increase of 14.5% over the same period in 2018. Demand continued to be strong, in particular for core materials.
Net sales of the business unit kitting amounted to CHF 127.1 million. There is no comparison with the previous year, as the Group company JSB was acquired in October 2018. The demand situation in the wind market continues to generate a positive momentum for kitting services.
The business unit tooling saw net sales of CHF 90.3 million, which represents an increase of 1.2%. In the second half of 2019 Gurit Tooling will see a markedly lower demand mainly due to new customer projects being re-timed into 2020.
For 2019 Gurit now expects to achieve above CHF 550 million in net sales (previously CHF 525 million) and an operating profit margin within the upper half of the target range of 8 – 10% (unchanged).