Gurit Reports Net Sales of CHF 459.9 Million and an Adjusted Operating Profit Margin of 4.5% for 2023

Gurit reported net sales of CHF 459.9 million for the full year 2023. Gurit reached an operating profit of CHF 20.3 million with a margin of 4.4% of net sales. Adjusted operating profit was CHF 20.6 million or 4.5% of net sales. Net profit amounted to CHF 4.0 million in 2023. Net debt decreased by CHF 24.1 million. Gurit saw its net sales increase by 0.5% at constant exchange rates versus prior year. Net sales of continued operations were CHF 459.9 million (+2.7% at constant exchange rates or -5.9% in reported CHF). Excluding acquisition effects, total Group sales grew by 2.6% at constant exchange rates. The Marine and Industrial business had another good year and continued with profitable growth. Wind Materials achieved net sales of CHF 307.1 million for 2023. This represents an increase of 1.9% at constant exchange rates compared to 2022 and contains a contribution of CHF 99.4 million from Structural Profiles (Fiberline Composites). Manufacturing Solutions achieved a turnover of CHF 51.3 million, which represents a decrease of -0.3% at constant exchange rates compared to 2022. Marine and Industrial reports net sales of CHF 101.6 million for 2023. This is an increase of 7.1% at constant exchange rates compared to 2022. Profitability: For the calendar year 2023, Gurit reached an operating profit margin of 4.4%. Excluding divestment effects, restructuring and impairment charges, the adjusted operating profit margin is 4.5%. This compares to an adjusted operating profit margin of 2.3% in the calendar year 2022. Net profit for the year 2023 amounted to CHF 4.0 million. This equals earnings per listed share of CHF 1.59 (2022: CHF 1.98). Gurit expects a back end loaded 2024 with net sales between CHF 435 – 485 million and an adjusted operating profit margin of 5% – 8% (respectively CHF 460 million and 4.5% in 2023). To identify growth opportunities in Composites Market: Trends, Opportunities and Competitive Analysis [2024-2030], please visit https://www.lucintel.com/composites-market.aspx