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.
Manufacturing Solutions achieved net sales of CHF 6.1 million, which represents a decline of -21.7% at constant exchange rates compared to 2024. The net sales were mainly affected by delays in investment decisions from Western customers, who await clarity on the tariffs before installing or relocating blade lines. On the contrary, the Indian market has shown stronger momentum than expected, promising regional growth opportunities.
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.
|
NET SALES
|
Q1 2025
|
|
in mCHF
|
2025
|
2024
|
Change in reported CHF
|
Change @ constant 2024 rates
|
|
Wind Materials*
|
57.2
|
65.6
|
-12.8%
|
-13.2%
|
|
Man. Solutions
|
6.1
|
7.7
|
-20.7%
|
-21.7%
|
|
Marine and Industrial
|
21.9
|
23.9
|
-8.5%
|
-8.8%
|
|
|
|
|
|
|
|
Total Group
|
85.2
|
97.2
|
-12.4%
|
-12.9%
|
* thereof discontinued business CHF 19.3m (Q1 2024: CHF 25.7m)
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/.
