GURIT REPORTS NET SALES OF CHF 85.2 MILLION IN THE FIRST QUARTER OF 2025; ANNUAL GENERAL MEETING APPROVES ALL AGENDA ITEMS
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Gurit Holding AG / Key word(s): AGMEGM/Quarter Results Zurich, April 15, 2025 – Ad hoc announcement pursuant to Art. 53 LR Gurit (SIX Swiss Exchange: GURN) today reports unaudited net sales results. Net sales reached CHF 85.2 million, a decline of -12.9% at constant exchange rates or -12.4% in reported CHF versus the first quarter of 2024. As expected, first quarter net sales have been impacted by the phase out of the carbon fiber pultrusion business and the continuous selective approach with Chinese Wind customers. Wind materials sales were higher than anticipated, with strong Western customers’ activity in Europe and North America, while both Manufacturing Solutions and Marine & Industrial were adversely affected by the overall market uncertainty around tariffs, which slowed down investment decisions. Wind Materials achieved net sales of CHF 57.2 million for the first quarter of 2025. This represents a decrease of -13.2% at constant exchange rates compared to 2024. Despite exiting the carbon fiber pultrusion business, Gurit experienced a stronger start to the year than anticipated, driven by solid demand from its Western customers in Europe but also in North America for the onshore market. Marine and Industrial reports net sales of CHF 21.9 million for the first quarter of 2025. This is a decline of -8.8% at constant exchange rates compared to last year. The declined net sales were primarily driven by a strategic stock realignment by its main agricultural customer, and also by ongoing uncertainty surrounding pre-announced tariffs, which affected overall market confidence in the US and contributed to softer-than-expected sales in both the Marine and the Industrial segments.
Outlook Gurit is reiterating its expectations for 2025 to reach an adjusted operating profit margin around the 2024 level, as discontinued businesses will negatively impact profit in the first half. Due to global tariff tensions, a reliable net sales guidance for 2025 remains unavailable.
Annual General Meeting of Shareholders The Annual General Meeting today approved all motions proposed by the Board of Directors. As previously mentioned on March 3, 2025, the strategic realignment, along with the associated restructuring measures, impacted the 2024 financial results. Given these circumstances, Gurit will not pay out a dividend in 2025.
The shareholders have elected Dr. Libo Zhang as a new member of the Board of Directors.
The AGM voting results will be published on Gurit’s Investor Relations webpage under the following link: http://www.gurit.com/Investors/AGM.
Gurit Half-Year 2025 Report Gurit will publish its half-year report 2025 on August 20, 2024, at 07:00 AM CEST. Management will also discuss the results at a joint media and analyst conference on August 20, 2025, at 09:00 AM CEST. For up-to-date information on Gurit`s financial calendar, please visit https://www.gurit.com/financial-calendar/.
About Gurit Gurit Group Communications Phone: +41 44 316 15 50, e-mail: investor (at) gurit.com All trademarks used or mentioned in this release are protected by law. Forward-looking statements: End of Inside Information |
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| Language: | English |
| Company: | Gurit Holding AG |
| Thurgauerstrasse 54 | |
| 8050 Zurich | |
| Switzerland | |
| Internet: | https://www.gurit.com/ |
| ISIN: | CH1173567111 |
| Valor: | 117356711 |
| Listed: | SIX Swiss Exchange |
| EQS News ID: | 2118592 |
| End of Announcement | EQS News Service |
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2118592 15-Apr-2025 CET/CEST
