Published: 03 February 2020 03 February 2020
Gurit has reported preliminary and unaudited net sales of CHF 576.4 million for the full year 2019 (FY 2018: CHF 425.3 million). This represents an increase of 35.5%. The organic growth for the Gurit Group has been 11.3% on a currency adjusted basis.
Overall, Gurit experienced solid growth across all its business units, with the exception of Tooling, which saw a softer second half year 2019. The wind energy demand and the attractive material and service offering helped Composite Materials and Kitting to achieve strong results. Composite Materials increased net sales by 12.8% (currency adjusted: 15.2%) year-on-year from CHF 221.3 million in 2018 to CHF 249.5 million in 2019.
Kitting reported net sales of CHF 190.7 million and is on a solid growth track versus the prior year of which Gurit consolidated only the last quarter. This contribution represents the majority of the acquisition effect for the Gurit net sales growth reported.
Gurit`s Tooling Business reported a strong first half year and an expected weaker second half year. Net sales decreased by -10.5% (currency adjusted: -8.6%) to CHF 106.1 million in 2019 compared to net sales of CHF 118.5 million in 2018. The increase in demand from Asian customers secured in the second half of 2019 will enable strong first half year 2020 sales and a good capacity utilisation.