Gurit Composite Materials achieved full-year sales of CHF 256.7 million in 2014. This increase of 13% compared with the previous year mainly resulted from the upturn in the wind energy business, increased demand in the marine industry and substantial growth in the material supply to other industrial markets.
Sales contribution from wind energy increased by 11.8% to CHF 131.2 million in 2014. Gurit Composite Systems and Engineering reported an increase in revenues by 46.9% to CHF 79.1 million for the full year 2014 mainly due to excellent growth in the company`s tooling business fueled by the wind energy uptake in Asia. Gurit achieved an operating profit of CHF 14.2 million (2013: CHF 6.5 million), the operating profit margin improved to 4.2% in 2014 (2013: 2.3%). Profitability benefited from the positive sales development in the company`s tooling business and other rewarding segments but was still impacted by operational inefficiencies in both business segments. Lower but improving margins in the wind-related material supply also had adverse effects on profitability in 2014. After tax expenses of CHF 4.1 million (2013: CHF 4.7 million), Gurit reports a net profit of CHF 11.1 million in 2014 (2013: CHF 0.1 million). Gurit is prudently optimistic for the company`s development in 2015. Favorable demand is expected in the wind energy and automotive materials businesses. The aero and marine markets are projected to progress moderately whilst new growth impulses are anticipated from new product applications and business development initiatives in the industrial markets.
